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Epos supplier Torex Retail calls in Serious Fraud Office

Will Hadfield

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.

 Related article: New Epos system prepares Wyevale for Easter blitz

Related article: Torex chief admits whistle blowing


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