Interserve: a calamity created in the boardroom | Nils Pratley

Another outsourcing company that was making huge profits has gone into administration

"I voted for Donald Trump," said the representative for Coltrane, flippantly, when asked after Interserve's shareholder meeting how he cast the New York hedge fund's critical 27% stake in the outsourcing firm. Maybe he did, but in this case he voted against a board-backed rescue deal and helped to send into administration a company employing 45,000 people in the UK.

Related: Interserve to go into administration after rescue deal rejected