ANN CROTTY: Behind Spar’s U-turn on O’Connor
The retail chain needs to restore its balance — for everyone’s good
At first glance it seemed the Spar board was moving to address issues raised in the media recently: allegations of fictitious and fraudulent loans and of discrimination against some of its retailers; a legal battle with one of its biggest retailers; and, finally, its board composition.
But a closer look at the Sens announcement of last week revealed there’s no plan to address anything, except to get a lawyer to check whether some of its accounting is “dodgy”, as alleged. That a lawyer will be checking this, and not an accountant, suggests the group is looking not at securing its accounting policies but at pursuing legal action against whoever made the allegation...
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