Speedy Hire’s long serving Chief Executive has stepped down after discovery of accounting  irregularities  in the overseas operations.

But Mr Corcoran also led the ill-timed acquisition of Hewden Tools for £115m in 2007, which led to a series of rights issues and left the group carrying a net debt equal to three times earnings before interest, tax, depreciation and amortisation in the deepest downturn in construction in decades.

http://www.ft.com/cms/s/0/31151944-874a-11e3-9c5c-00144feab7de.html#axzz2s1Hp1PBW

 

 

 

 

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