Liquidator backs under fire chair

Blackandwhite chairman Chris Ollerenshaw has won praise for his handling of the firm’s closure.

Bob Young, a director of corporate recovery firm Begbies Traynor and the appointed administrator for Blackandwhite, says: “We’ve had complaints from employees but Ollerenshaw has been cooperative throughout the process and has lost more than anyone else involved with the firm.”

The comments contradict allegations by former Blackandwhite employees that Ollerenshaw and his board members unethically delayed payment of outstanding remuneration and failed to communicate the firm’s situation.

One employee says: “He’s manipulated the situation so that he’s not held accountable while he treated us like mushrooms and kept us in the dark.”

But Ollerenshaw says: “As far as I’m concerned we’ve treated our em-ployees honourably and fairly.”

Last week’s Mortgage Strategy exclusively revealed that Ollerenshaw estimated he stands to lose over £1m as a result of the firm’s closure.

He says: “My classic car collection has suffered because I sold cars to keep the business going and I have divested some of my property too.”