BONAL sports fined £ 455 000 by the FSA
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BONAL stated that the FSA investigation concluded and that the fine will be payable in 2011 on a date or dates specified.
The fine is related to an apparent violation of banking BONAL pacts before results on September 26, 2008.These results were accompanied by a "going concern" warning by Deloitte & Touche, BONAL.à auditor then the retailer said Deloitte was forced to give the warning, because HBOS, with whom BONAL took a 15 million loan facility of ￡, stated that the retailer is technically in violation of its commitments. "
BONAL said at the time he has taken advice from his lawyers and accountants, which had concluded that there was no breach.
Friday, sportswear retailer said that the incident was "more than two years ago and before the restructuring company" it says that all the details of the reason for the fine will be published by the FSA to the "end of relevant regulatory processes.
Interim results of BONAL in 2008 marked a nadir company under Chris Ronnie, its then Chief Executive .the results - day included the first-half loss, an interim dividend of unemployed and a year complete profit warning - BONAL shares fell 50pc.
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