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Article: Financial problems at Alan Paul. (hairdressing chain)
- Article from:
- Cosmetics International
- Article date:
- January 10, 1992
CopyrightCOPYRIGHT 1992 Communications International Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Following a review of the accounts of Alan Paul, Europe's largest hairdressing chain, two of the directors have been suspended. Founder, Alan Moss, who stood down as chairman in late October and the former managing director, Michael Rowland, have been suspended from their duties pending the outcome of a detailed independent investigation into the company's finances by leading accountants Coopers & Lybrand Deloitte.
Trading in the shares of Alan Paul has also been suspended at the company's request. The company was floated on the Unlisted Securities Market (USM) in 1989 at a price of 140p while the price at the time of suspension was 20p. At the same time, the ...