In March this year it was reported in the Financial Times that two of the Carlyle Group’s directors of its European operations had resigned: Robert Hodges and Frenchman Eric Sassons. These two individuals are also two of Freeport’s four (according to the 2012 annual return) directors, though neither is a shareholder. Freeport's only shareholder is CEREP UK Investment D GP Ltd.
As revealed in a previous article, Freeport has been owned by American private equity company the Carlyle Group since 2007.
Freeport's 2012 accounts were recently published showing a £68,671 loss in the profit and loss account, the first loss in three years. The previous two years showed a profits of approximately £1.37 million (2011) and £158,527 (2010).
Should anyone be worried, especially people who work for Freeport and those that are owed money by the company? It's hard to tell, as the accounts (being abbreviated) are still largely opaque.
What hasn't changed is that Freeport's balance sheet is still showing an overdraft of £3.6million; essentially the company is almost worthless.