B&M ousts finance chief as it warns again on profits after £7m accounts error

The Guardian•Monday, October 20, 2025 at 7:38:00 AM

B&M has made headlines by ousting its finance chief, Mike Schmidt, following a significant £7 million accounting error that is expected to impact its annual earnings. This marks the second profit warning from the discount retailer in just two weeks, raising concerns about its financial stability and management practices. Such developments are crucial as they not only affect investor confidence but also highlight the challenges faced by retailers in maintaining accurate financial reporting.

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