Consulting and business services group Mouchel has this morning confirmed that its bankers Barclays, Lloyds and Royal Bank of Scotland have appointed accountancy firm Deloitte to conduct a review of its business.
Mouchel issued the following statement in response to a report by the Daily Telegraph newspaper.
“Mouchel notes press speculation regarding its ongoing discussions in respect of the refinancing of its debt facilities which it announced on 14 October 2010. Mouchel confirms that as part of these refinancing discussions Deloitte has been appointed by Mouchel's lending banks with the agreement of the Company to perform a limited scope review. Mouchel continues to expect the refinancing to be completed by the time of its Interim Results expected in March 2011 and its banks remain supportive.”
The company’s shares have fallen by 15% since knowledge of the Deloitte review became public.
In a separate report, the Daily Telegraph has said suppliers to strategic outsourcing group MITIE had been asked to make a one-off payment of £10,000 to become preferred suppliers. According to the Telegraph, MITIE has now said that all payments which had been received would be rescinded.
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