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FD quits The Hut

ONLINE retailer The Hut has lost its finance director after he quit because the company cancelled its planned flotation for later this year.

Paul Meehan resigned after a year with The Hut, according to the Independent. The Hut has the backing of a raft of top business names including former M&S chairman Sir Stuart Rose and former chief executive Sir Terry Leahy.

Reports suggest that a flotation is on hold but remains a long-term aim of the company which has recently raised new funding.

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