 Thomas and James (TJ plc)Vivien Beattie, Stella Fearnley and Richard Brandt Chapter 6 in Behind Closed Doors, 2001, pp 82-114 from Palgrave Macmillan Abstract: Abstract This group had operations in the UK and overseas. It had been a private family owned company before its flotation and although it was listed the family still had a controlling interest in the group. There were no significant institutional shareholders. The group had performed well for several years since its flotation but trading had recently become more difficult. There were two underlying problems. First, quality defects in a key product line had undermined market share at a time when competitors were developing equivalent or better products. Second, a decision had been taken to develop a new product (henceforth Newpro), which required considerable investment. The development was progressing much more slowly than the board had expected. The reduction in profitability resulting from loss of market share had left the group with insufficient cash flow to continue to fund the development of Newpro at its existing level. Despite these setbacks, the group remained solvent, but further investment was needed to secure its long-term survival. Keywords: Audit Committee; Board Meeting; Audit Service; Audit Partner; Institutional Shareholder (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59941-3_6 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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