After some “accounting irregularities” were discovered Darren Spurling, the managing director of Blacks Leisure‘s Sandcity division (sole distributor of O’Neill clothing in the UK) was fired.
Spurling had been suspended since March, when Blacks announced that Sandcity’s profits had been overstated by £1m in the last financial year and a further £1m since then. He leaves without a payoff. It is understood that the police are not involved. “There’s no suggestion of fraud and no cash left the business,” said a spokesman.
[Link: The Guardian]
