Hello suebutcher
Many thanks for a succinct explanation there.

It would be interesting to research the collapse of HG Palmer and Pinnock.

I guess there were distinct differences.
Palmers was certainly about accounting standards; whereas Pinnock seems to
have involved deliberate fraudulent activity.

Both disasters seem to have involved companies that were rapidly expanding
beyond their means.

A good account of the Palmer failure has been told in the book Corporate Collapse.
https://catalogue.nla.gov.au/Record/2420184

The Pinnock collapse defrauded investors on a wider scale and it received
more publicity in the UK than here.

The think is, HG Palmer mowers were no more.
Villager managed to continue selling - but without a national distributor.
It would have been a painful death for the once serious 1950s Victa challenger.

The rest is history.
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Jack