by Simon Quicke26 September 2008
The fall-out from the collapse of Lehman Brothers continues
to ripple across the channel with Affiniti and Kingston Communications parent
KCOM warning it could be hit by £3m by the demise of the financial institution.
In a trading update issued ahead of interim figures for the
six months ending 30 September, which will be announced towards the end of
November.
“The failure of Lehman Brothers is expected to result in a reduction to
EBITDA of no greater than £3 million in the current financial year,” stated the
update.
In a supporting statement, chairman, Michael Abrahams, said that the company
remained committed to providing shareholders with value.
Other players in the channel have already revealed that they
are going to be hit by the problems experienced by Lehman Brothers, including
Computacenter and Morse.
Despite the collapse of the company this week has seen other
employers courting those staff who were sacked.
“A large proportion of those people knew how to make money
and have not forgotten that and can do again,” said one source in the City.
