Picture the
scene, a long established British business that’s seen better days gets taken
over by a new management team that’s
bought it for a derisory sum and even received some multi-million pound sweeteners in the process from it’s former owner.
The new team
doesn’t have a business plan worth a damn or access to the funding
needed to finance it or basically anything remotely credible. But, as proud
owners of this long established concern, they do have the authority to extract millions of
pounds for themselves in management fees before things go ‘kerphut’.
Even better,
having been politically expedient when they bought the company, the new folks
can be blamed when it all goes wrong and 1,000s of people start losing their
jobs, leaving the state i.e. us, to pick up the tab, give or take some MPs
huffing and puffing.
So, you
decide, what company am I talking about, Rover, subject to a multi-million
pound state enquiry from which lessons should presumably have been learned, or
BHS?
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