SIG said it was also looking at clawing back “incentive payments made to certain individuals in relation to prior years.”

An investigation was launched into historic accounts after a whistleblower raised the alarm at SIG Distribution – the core insulation and interiors business.

Accountants from KPMG and Deloitte found irregular rebates from suppliers and over statement of balances  in 2016 and 2017.

SIG said: “The Group is suspending from employment a number of individuals who are being placed under disciplinary investigation into the circumstances surrounding the accounting for these balances and the cash overstatement. 

“The Remuneration Committee of the Board is reviewing maIus and clawback provisions in relation to incentive payments made to certain individuals in relation to prior years.”