Mr Corsie, a three-time indoor singles champion, stood down as chief executive of Corsie Group last Thursday, becoming the fourth board member to resign in little over a fortnight.

Announcing on April 28 that its financial results for 2007 would to be delayed pending an audit, the troubled company, which distributes a diverse range of products including sports equipment, synthetic turf, health and beauty products and herbal tea, had three days earlier asked for its shares to be suspended until such time as its financial position could be clarified.

Stewardship

Former Scotland rugby internationalist and Grand Slam winning skipper Jim Aitken quit his post of non-executive director on April 16 and was followed out the door by fellow director Vikram Lall CBE and board chairman David Mathewson.

It is believed that the business is now under the stewardship of finance director David McArthur and sales director Graham Robertson, who are the only remaining board members.

Full report in East Lothian News, May 9, 2008