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Published: Aug 17 , 2015
Author: Stephen White
Last Wednesday evening was a bad time for two different groups of Londoners. At five o’clock the doors of several walk-in centres run by a high profile children’s charity called Kid’s Company closed for the last time, and thousands of children who depended on the charity for both physical and educational support were stranded. There had been suspicions about the financial affairs of this charity for some time – allegations that it was not well managed and that it was not in control of its finances. Central government was a major contributor and when the media picked up stories of financial irregularities they and other generous donors began to think twice about their funding... because the charity had virtually no reserves it had to close. It is unlikely to re-open, at least in its present form.