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muriel_volestrangler

(105,496 posts)

10. "Polly Peck" was a company involved in much financial scandal in the early 90s in the UK

Reply to Tanuki (Reply #7)

Tue Dec 16, 2025, 07:00 PM

Dec 16

Polly Peck International (PPI) was a small British textile company which expanded rapidly in the 1980s and became a constituent of the FTSE 100 Index before collapsing in 1991 with debts of £1.3 billion, eventually leading to the flight of its CEO, Asil Nadir, to Northern Cyprus in 1993.[1] Polly Peck was one of several corporate scandals that led to the reform of UK company law, resulting in the early versions of the UK Corporate Governance Code.

On 26 August 2010, Nadir returned to the UK to try to clear his name. Prosecutors alleged that he stole more than £150 million from Polly Peck and he faced trial on 13 specimen charges totalling £34 million. Nadir was found guilty on 10 counts of theft totalling £29 million. On 23 August 2012 at the Old Bailey, he was sentenced to 10 years in prison.[2]

https://en.wikipedia.org/wiki/Polly_Peck

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wolfie001 NotHardly

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Highlight:

Del Monte Foods, maker of popular canned goods, files for bankruptcy [View all] LetMyPeopleVote Dec 16 OP

Damn................. Lovie777 Dec 16 #1

Thanks Trump! Del Monte foods is going out of business. LetMyPeopleVote Dec 16 #2

All of their company executives voted for the fat orange imbecile wolfie001 Dec 16 #11

Bullshit -- Del Monte was in trouble before the tariffs. They filed for bankruptcy five months ago. Auggie Dec 16 #17

I switched to frozen & fresh veggies exclusively over 10 years ago wolfie001 Wednesday #26

Because doing so makes us as bad as them Auggie Wednesday #29

During war, sometimes ya can't take prisoners wolfie001 Wednesday #30

Wow!!! Unexpected BlueWaveNeverEnd Dec 16 #3

Will we have to can our own food? BlueWaveNeverEnd Dec 16 #4

Cat and dog food can production will increase wolfie001 Dec 16 #13

I always felt their canned products... NCDem47 Dec 16 #5

most canned vegetables taste that way. cab67 Dec 16 #12

Friend is a lawyer in Penn. near Pittsburgh... Grins Wednesday #23

Del Monte filed for bankruptcy back in July Brother Buzz Dec 16 #6

Some astute and interesting comments Tanuki Dec 16 #7

I suspected this was the real reason, it always is. Klarkashton Dec 16 #8

And every acquisition wrapped more debt UpInArms Dec 16 #9

"Polly Peck" was a company involved in much financial scandal in the early 90s in the UK muriel_volestrangler Dec 16 #10

Food Conglomerates 2na fisherman Dec 16 #14

That's what I was going to post. More companies fall off and prices rise. Bengus81 Wednesday #31

Another success story for Julius Seizure's Hassler Dec 16 #15

I just saw this great story on more perfect union Javaman Dec 16 #16

My mother's first job was at the Del Monte plant in Sanger CA. Sector 001 Dec 16 #18

Can't think of the last time I bought any of their products. Munu Dec 16 #19

Uh oh.. "our portfolio of beloved brands, including S&W , Contadina, College Inn, Joyba, Kitchen Basics and Exp Dec 16 #20

I can recall years ago where I kept repeating "Del Monte-The Story of Success"...a week long hike c-rational Dec 16 #21

Wow. Opened for business in 1886. The roaring 20's, 3 decades away. chouchou Dec 16 #22

Bankruptcy seems to be a business strategy. Dr. T Wednesday #24

Canned veg make a good filler in a lot of cooking. Aussie105 Wednesday #25

I can't imagine the tariffs have helped. Just the one on aluminum for the cans has been taking out small breweries. Vinca Wednesday #27

Snap issues and cuts don't help kerouac2 Wednesday #28

When I was a kid in the 1950s PCB66 Thursday #32