Failed SFD collapse due to ‘malpractice’: Audit unearthed doubts after firm’s sale

Shopfittings Direct , which produced window displays and floor designs for Primark and others, went under due to “business malpractice”, claims the investor that tried to save it. A source close to venture capital group Elaghmore said that despite undertaking extensive due diligence, a number of “undisclosed issues” with SFD’s finances only came to light after it had acquired the business. It bought SFD last summer as a distressed asset.

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