Polly Peck Group to Address Troubles: Polly...
From Times Staff and Wire Reports
Polly Peck Group to Address Troubles: Polly Peck, a London-based fruit-to-electronics group, is facing the worst crisis in its 10-year history. Chairman Asil Nadir was interviewed by detectives from England’s Serious Fraud Office after Polly Peck shares collapsed last week. The board of Polly Peck, which owns the Sansui audio firm in Japan and Del Monte fresh fruit in the United States, has said it will issue a detailed statement this week. On Thursday, Polly Peck’s market value plunged from $1.93 billion to less than $860 million before trading in its shares were suspended. Nadir acquired Polly Peck 10 years ago for $552,000.
