[modeleng] Re: ALERT!! IMPORTANT!! Kerr Stuart
- From: peter.chadwick@xxxxxxxxxxx
- To: modeleng@xxxxxxxxxxxxx
- Date: Fri, 19 Oct 2007 14:46:32 +0100
>I'd not heard about that, what happened to Kerr Stuart?<
The Chairman of Kerr Stuart floated a company called Evos Sliding
Doorways, and quite illegally, used Kerr Stuart to guarantee it. When it
went broke, Midland Bank put Kerr Stuart into liquidation to get some of
their money back. It's arguable they would have got a lot more by taking a
debenture and letting Kerr Stuart trade their way out. As it was they
shut a profitable company and put a lot of people out of work at a time of
high unemployment. See L.T.C. Rolt, 'Landscape with Machines'.
Peter Chadwick
Swindon
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