The US Securities and Exchange Commission (SEC) approved a formal investigation into the accounting practices at Nash Finch, the company announced yesterday. Up to this point, the inquiry had been an informal look at the company's policies toward vendor allowances.
Nash Finch also announced that its accounting firm, Deloitte & Touche, had resigned over a disagreement about whether the company had provided specific and sufficient evidence that would have backed up certain accounting practices.
Nash Finch also announced that its accounting firm, Deloitte & Touche, had resigned over a disagreement about whether the company had provided specific and sufficient evidence that would have backed up certain accounting practices.
- KC's View:
- Sounds like Nash Finch may not be bidding for that Kmart business anytime soon.
