CBI seeks £3m from members within days to avoid financial oblivion

Scandal-hit business lobby group reportedly issues appeal for financial help shortly before annual meeting

The Confederation of British Industry (CBI) risks financial oblivion unless it can convince its remaining members to stump up 3m within the next few days, according to reports.

The scandal-hit business lobby group is in a race against time to stave off collapse, even as rival organisations jockey for position to replace it as the voice of British business.