Last bit of city news, and one of CMU's favourite music stores, Fopp, has posted what is most likely its first trading loss for years. That loss may well be, in part at least, down to the £250,000 in compensation payments the company had to pay ousted execs after a recent boardroom shake up. According to the Herald, Fopp founder and majority shareholder Gordon Montgomery has never commented on the sudden axing of four of his top team, although the subsequent appointment of David Pryde, the former HMV Europe and retail industry chief, as MD was seen as a sign that the Fopp man hoped to further extend his retail operation around the UK.
Sep 28, 2005
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1 min read
Fopp post losses after board shake-up
Music retailer Fopp has reportedly posted its first trading loss in years, partly linked to £250,000 in compensation for ousted executives after a boardroom shake-up.