Tenet Group Terminates Jim Ewing
As per the companies’ house record, Tenet Group Ltd has terminated their Director, Jim Ewing on 25 November 2022. This is another sign of turbulence in Tenet Network. Their financial situation is deteriorating very fast due to the record losses Tenet Group has.
It is reported that the board of directors of Tenet Group Ltd has hired an independent consultant to look ways to sell the network. It is also believed in the financial industry that with losses so big and with the extremely negative reputation Tenet Group enjoys in the industry, there would be no one with sane mind interested to buy stake in Tenet Group.
For the year ended September 30, 2021, Tenet Group made a loss of around £21.6 million which is a record loss in the industry Tenet Group operates. In the year preceding year i.e. year ended September 30, 2020, Tenet Group made a loss of £4.4 million. In this extremely alarming situation and on the pressure of FCA and external auditors, the shareholders had to inject fresh equity on the company. As the business in no more viable and there is no hope of any dividends, it is believed that the shareholders of Tenet Group want to get rid of this company.
Another interesting fact is that as per FCA register, only four new firms joined TenetConnect in 2022 and a total of 39 firms left Tenet Connect Ltd in the same period. Some of these firms were attached with Tenet since 2003. Similarly, 59 firms left TenetLime Ltd in 2022 whereas none joined them in the same period. It is believed that the reason of this is extremely negative reputation Tenet Group enjoys in the country. Their management is considered extremely incompetent and unprofessional.