Anger at £20m spent on Cattles’ overhaul
December 2008 – Cancels dividend.
January 2009 – Slashes new lending, cuts 1,000 jobs.
January 2009 – Withdraws application for banking licence.
March 2009 – Second profits warning, warns of serious accounting flaws.
April 2009 – Says £850m bad debts black hole discovered.
April 2009 – Shares suspended.
July 2009 – Investigation passed to regulators and seven executives sacked plus chief executive David Postings quits.
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Hide AdJuly 2009 – Accountancy watchdog the AADB launches probe into Cattles’ auditor PricewaterhouseCoopers.
December 2009 – Admits no hope of restarting lending and shares of little or no value.
November 2010 – Launches restructuring plan to de-list.
January/February 2011 – Shareholders and creditors vote on restructuring.