Talktalk agrees £400m lifeline as leadership changes confirmed August 12, 2024 Talktalk has agreed the key terms of a refinancing deal which will hand the telecommunications giant a £400m lifeline, it has been confirmed. The Salford-headquartered company has been in talks with one of its largest shareholders amid warnings it was on the brink of collapse. Its annual report, which was published in July, revealed that [...]
Inmotion Ventures: Jaguar Land Rover’s investment arm slips to loss after busy year August 12, 2024 Inmotion Ventures, the investment arm of Jaguar Land Rover (JLR), made a loss during its latest financial year after backing six new companies. The Coventry-headquartered business has posted a pre-tax loss of £2.6m for the year to March 31, 2024, newly-filed accounts with Companies House have revealed. The loss comes after Inmotion Ventures made a [...]
Whittard of Chelsea: UK popularity grows but international sales falter August 12, 2024 Whittard of Chelsea’s UK sales increased during its latest financial year but its international performance suffered in 2023, it has been revealed. The Oxfordshire-headquartered company has posted a turnover of £45.6m for 2023, up from £42.3m, according to newly-filed accounts with Companies House. The business also reported a pretax profit of £903,991, down from the [...]
Bremont slumps further into the red despite Bill Ackman investment in luxury watch brand August 12, 2024 British luxury watch brand Bremont slumped to a loss of more than £14m in the year American billionaire hedge fund manager Bill Ackman became a minority investor, it has been revealed. The Oxfordshire-based business has reported a pre-tax loss of £14.3m for the year to June 30, 2023, according to newly-filed accounts. The results, which [...]
Peloton loses almost £100m as UK arm sheds hundreds of jobs August 12, 2024 The UK arm of Peloton lost almost £100m and shed hundreds of jobs, it has been revealed. The London-headquartered division has posted a pre-tax loss of £98.1m for the 12 months to June 30, 2023, according to newly-filed accounts with Companies House. Peloton previously posted a pre-tax loss of £173.7m for its prior financial year. [...]
The Brewery: Royal Ascot caterer buys landmark City of London venue August 12, 2024 The company that provides catering for Royal Ascot has acquired a major large scale event venue in the City of London. Rhubarb Hospitality Collection (RHC) has snapped up The Brewery, which hosts more than 500 events a year, for an undisclosed sum from Paul Lewin. RHC itself was acquired by Oak View Group (OVG) in [...]
Worcester Bosch to make major change after green marketing concerns raised by CMA August 9, 2024 Worcester Bosch has agreed to make a major change to the way it markets its products across the UK after agreeing a deal with the Competition and Markets Authority (CMA). The watchdog said it had become concerned the company may have mislead consumers into thinking that its boilers – marketed as ‘hydrogen-blend ready’ – are [...]
Natwest to ‘suffer significant shortfall’ with a 90 per cent loss after Island Poke collapse August 8, 2024 Natwest is on course to “suffer a significant shortfall” following the collapse of London-based Hawaiian food chain Island Poke, it has been revealed. The bank is one of the major creditors to the business which was sold in a pre-pack administration to a subsidiary of hospitality incubator White Rabbit Fund in July. The food business [...]
Evans Cycles: Big loss revealed in delayed results for brand owned by Mike Ashley’s Frasers Group August 8, 2024 Significantly delayed accounts for Evans Cycles have revealed how far the brand, which is owned by Mike Ashley’s Frasers Group, has slumped further into the red. According to results for the year to April 30, 2023, which have only just been filed with Companies House, Evans Cycles slipped to a pre-tax loss of £23.2m. The [...]
Philips shrugs off ‘challenging year’ with UK profit spike August 8, 2024 The UK arm of consumer electronics firm Philips shrugged off a “year of many challenges” to post a surge in profit for 2023. The division, which is headquartered in Farnborough, has reported a pre-tax profit of £26m for the 12 months, up from the £5m it posted in 2022. According to newly-filed accounts with Companies [...]