Galileo to be wound up

GALILEO Group, the special vehicle set up by entrepreneur Mr Andrew Regan and his backers to bid abortively for Britain's Co operative Wholesale Society, was placed in solvent liquidation yesterday, the accountancy firm Ernst & Young said. "There are sufficient assets to repay the creditors in full and enable a return to be made to shareholders," Mr Jason Elles, the Ernst & Young partner appointed as liquidator, said in a statement. This followed a Galileo board meeting to wind up the business with shareholder agreement.