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EDI losses under microscope as council forced into £62m bailout

The property firm that used to be a cash cow for the City of Edinburgh Council incurred another hefty loss in 2009, when the local authority funded a £62 million bailout of the business.

Accounts for EDI Group show the company made a pre-tax loss of £7.8m in the year to December, after losing £5.8m in the preceding year.