Administration Irony

After all the mentions of RSM Tenon and the Administration of Challinors, the news that RSM Tenon themselves went through a pre-pack administration last week. They were sold to Baker Tilly – Telegraph story here.

To make the obvious point, an accountancy firm which has to restate its accounts is always going to be in trouble.

After all the comments about the problems facing the legal profession, accountants face some similar problems. Query whether growth by acquisition is always sensible, particularly if financed by debt.

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