Drinks specialist Conviviality’s chief executive Diana Hunter has stepped down a week after it disclosed accounting errors.
In a statement, the retailer said Hunter – who has been at the helm for five years – will leave the board with immediate effect, but remain with the company for a period of time to provide “transition support”.
Non-executive chairman David Adams will take up the role of executive chairman until further notice.
Hunter’s departure followed a chaotic week for Conviviality. The Bargain Booze and Wine Rack-owner issued a profit warning after it uncovered a forecasting error and, a few days later, discovered a £30m payment due to HMRC before the end of this month.
Trading of its shares have been suspended and Conviviality has drafted in PwC to help it find a solution to its cash crunch.
The retailer is considering a possible equity fundraise to help it stabilise.
Conviviality said: “The company is continuing to engage with stakeholders and will provide a further update in due course.”
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