Too early to say if this was exclusively PE fault. I suspect...

Too early to say if this was exclusively PE fault. I suspect management made some very poor decisions in 2015 which played a big role in the collapse (over-leveraged and buying inventory no-one wanted to buy).

2nd report to creditors will be interesting. It is possible reporting might be brought forward now that there is no business sale in the wings (not sure how this affects the sale of Mac1 to which the Receivers are not appointed).