the midst of increasing attention on the Barclay family’s business empire and its prior ownership of the Telegraph newspaper, Deloitte has resigned as auditor of retail company The Very Group, citing the value of its debt.
Bonds in the Very Group, a UK retailer that provides financial services to its clients, dropped after the company announced that its auditor had terminated an 11-year partnership because of difficulties obtaining data on financing agreements throughout the entire organization.
Following the company’s statement on Wednesday, Very Group bonds due in 2026 fell 3 pence on the pound to 85 pence, according to CBBT pricing compiled by Bloomberg. This is the lowest price since November.
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