Interserve sack four executives over £25m ‘black hole’

Support services firm Interserve has sacked four executives who were involved in last year’s discovery of a £25m black hole at its industrial services division.

The company has refused to name the individuals involved but it is understood that they include industrial services finance director Alex Corless and his deputy.

Another two senior directors, who were suspended during the investigation into the accounting irregularities, have been cleared and are back at work.

Interserve discovered the black hole last year and was forced to wipe off £25m from the industrial services division.

It brought in accounting firm KPMG and law firm Linklaters to conduct a forensic review into what had gone wrong. The investigation cost Interserve £11m.