Debt-laden RSM Tenon disposes of IVA business

Troubled accountancy group RSM Tenon has disposed of its Individual Voluntary Arrangements business to financial services firm Grant Thornton.

Troubled accountancy group RSM Tenon has disposed of its Individual Voluntary Arrangements business to financial services firm Grant Thornton.

RSM Tenon, with a market cap of only £17m, has been attempting to cut debt, which at its last year end stood at £65.7m. It will receive net cash of around £7m from the disposal.

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