Ivan Massows Massow Rainbow Group has suspended trading prior to a restructuring to be announced next week.
Massow is reported on website gay.com saying he is trying to buy the company, of which he is a sleeping partner, back after an period of notional receivership. It says Louis Letourneau, managing director of the firm created out of the merger of Rainbow and Massow, has left together with most of the management.
An employee of the firm which specialises in advice to the gay community says: "We have temporarily suspended trading until Monday. We are restructuring."
A spokeswomen for the FSA say that the firm is still regulated but would not comment further.