Yü Group hires PWC and DLA Piper to conduct “forensic” review

Yü Group CEO and majority shareholder Bobby Kalar

Business energy supplier Yü Group has appointed PWC and DLA Piper to support a “forensic review” of business and accounts.

The company last month announced it had discovered a hole in its accounts that sent share prices tumbling from 595p to a low of 86p.

The company’s share price has since partially recovered, though dipped on the news of the accountants’ appointment to around 170p.

In a market update last month, Yü said it would post a loss for 2018 after realising it could not recover much of its outstanding income, some £4.2m for the year ending December 2017 and £4.3m for the interim period to 30 June 2018.

The company said it expects to return to profitability in 2019, but at a much reduced level.

Related stories:

Yü Group revisits accounts, finds hole, shares plummet

Yü Group posts big growth, eyes corporates and cross selling

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