Epos supplier Torex Retail has called in the Serious
Fraud Office (SFO) to look at its accounts.
The supplier’s chief executive and finance director took the
accounts to the SFO just one week after making an announcement that
some of the company’s revenue would be put back into the new
financial year.
The announcement said, “Some of the new and incremental business
that the group had hoped to complete in late 2006 is now, based on
revised customer timescales, expected to be delivered in early
2007.”
Torex Retail won more than £80m of new contracts and renewals
from retailers in the second half of 2006.
The largest deal was a 10-year contract to both implement and
maintain the supplier’s Retail-J Epos system at Home Retail Group’s
683 Argos and Homebase stores.
The company also won contracts to implement Epos at Wyevale
Garden Centres’ 110 stores and jewellery retailer Swarovski’s 660
stores spread across 30 countries.
Torex Retail’s shares were suspended from the Alternative
Investment Market on 26 January.
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