Risk & Economy » Regulation » Liquidator appointed as Kids Company wound up

COLLAPSED charity Kids Company has been wound up in the High Court and the Insolvency Service has appointed the Official Receiver as liquidator.

Matthew Stone, senior examiner and deputy official receiver at the Insolvency Service, was appointed as the Official Receiver at a hearing in the Companies Court division of the High Court.

The charity was forced to close earlier this month after it collapsed amid allegations of financial mismanagement and that its board of trustees – led by the BBC’s Alan Yentob – and flamboyant chief executive Camila Batmanghelidhjh, failed to heed warnings of the need to build up financial reserves.

Companies that have supplied goods or services to Kids Company for which they have not been paid should contact the Insolvency Service.

The Charity Commission, the independent regulator of charities in England and Wales, has opened a statutory inquiry into the charity Kids Company.

The inquiry will address concerns about the administration, governance and financial management of the charity, and identify wider lessons for other charities and trustees.