It took less than four weeks for a firm worth more than half a billion pounds to fall apart.<\/p>\n
On 8 March, Conviviality \u2013 not a household name, but a big firm with more than 4,000 staff \u2013 had a stock market value of more than \u00a3550m. Fast-forward less than a month and its finances have fallen apart, its bankers have balked at rescue plans and shares then worth 300p are now worth nothing. It will be remembered as one of the quickest corporate collapses ever seen in the UK.<\/p>\n
On Wednesday the firm went into administration; the best parts of the operation were immediately sold to new operators and 2,000 workers suddenly have a new employer. For the other staff, the outlook is far less certain.<\/p>\n