Conflict of opinion over severity of Sefton's position

Thu, 26 Jun 2014

Sir Miles Walker

Government and the Sefton Group were 'contradicted' over the severity of the group's position before it was bailed out by the taxpayer.

Outgoing chairman Sir Miles Walker says there was a difference of opinion admitting that although times were difficult the group wasn't on the brink of bankruptcy.

Government's decision to offer a multi-million pound rescue package didn't find favour with everyone - he says he believes it should have been kept private.

In a turnaround yesterday the group announced it had recorded a £10.3 million profit for the last financial year - Sir Miles says he can now understand the public's reaction: