Phoenix from the flames
Andrew Tjaardstra meets Martin Oliver, managing director at Barbon Insurance, to discuss doomed property services company Erinaceous and some strong views on management.
Do you remember Erinaceous? It was the all-in-one property services group that ran into big trouble after taking on too much debt under the leadership of then-chief executive officer Nick Bellis and his sister-in-law, chief operating officer Lucy Cummings. In an interview with PB in February 2006, Andy Halstead, now at Towergate but then head of the insurance operation at Hanover Park Commercial, said that Erinaceous had ambitions to join the FTSE 100. Months later the shares had reached 400p
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