Administrators at collapsed pub management company Publicana have described how a catalogue of problems including missing and inaccurate accounts led to the company's demise, leaving creditors with unpaid bills for £1.7m. A report filed by Begbies Traynor into the Blackpool-based company, which was set up in 2007 by businessman David Morse to provide interim landlords for failing pubs across the country, found that concerns over cash flow had started in October last year. Begbies said accounts were either missing or contained errors, which meant that the company was shown to be making a profit when it was actually losing money. The report said: "Profit had been overstated by a total of £112,565 in 2008 and 2009. Various other errors regarding the treatment of supplier payments and VAT were identified.2 New accounts were drawn up for the nine-month period to February, which revealed that the company had made a loss of about £1.35m. Mail on Sunday, p71