Accrol issues another shocker and Conviviality CEO goes!
Tissue converter and supplier of toilet rolls Accrol Group Holdings has issued another shocking update. We questioned previously how institutions got suckered into this one, they now appear to have thrown good money after bad!
Our Blog from October 2017 ‘Yet another private equity dump on the market goes down the toilet..’ highlighted the perils of investing in a business where shareholders and private equity are materially selling down and debt remains high. We were staggered how experienced institutional investors continue to be sucked in by questionable listings like Accrol (AIM:ACRL) but the latest trading update suggests they have been suckered again…the mind boggles! Our Blog questioned whether anyone had read the section on ‘Risk Factors’ in the Admission Document, which helpfully gave advanced warning of a number of issues. - Throwing good money… Shareholders ploughed…