AN investigation by a financial watchdog into a Blackburn-based tissue paper giant has been widened.
Roman Road based Accrol Group was being probed over a six-month accounting period between April and November 2017.
But it has now been confirmed by the Financial Conduct Authority (FCA) that the manufacturer, which also has sites in Leyland and Skelmersdale, must answer questions over a period from June 2016 to September 2018.
This covers the time from when Accrol’s share capital was admitted for trading to the AIM market to the date of their audited accounts for the year ending April 30 last year.
In a regulatory statement published on their website, it has been said: “The 2018 accounts identified misstatements in the previously published accounts for the period 1 May 2016 to 30 April 2017.”
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The investigation was already covering a turbulent time for the Blackburn firm, which employs more than 450 people, when it lost chief executive Steve Crossley and had its shares suspended on the AIM. But after a major restructuring exercise, there were hopes Accrol would return a profit by this year-end.
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