Now it's New Look.
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Looks like a victim of another private equity leveraged buyout.Comment
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There's a young chap who's only just taken over the Franchise for our local Bargain Booze. I wonder if the previous owners knew what was coming when they sold up. On the face of it it seems to do quite well - where it is, it's a mile from the next big supermarket or any other newsagent, and lots of people seem to pop in for fags, milk, papers and of course booze.Comment
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Probably not. Seems to have stemmed from a bunch of accounting problems revealed earlier this month, including a tax bill due today they seem to have forgotten about, and then they failed to raise new equity. So unless the sale was done on very short notice, it would have been before all this came out.I wonder if the previous owners knew what was coming when they sold up.Comment
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How can you have a contract with Wetherspoons and go bust,that's unforgivableComment
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They seem to have had some shocking governance issues. How do you just forget about a £30m tax bill until two weeks before it's due? And that's after you've already copped to a £5m accounting error.Comment
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Accouting Dept: "We've sorted it all out. Don't worry."
Board of Directors: "Well...alright then. Next item..."Comment
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I think the ones who owned the one closest to me had a sniff of what was happening - it switched to a Londis a couple of months ago.Originally posted by Rogin the Armchair fan View PostComment
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Got a letter in the post yesterday from Deloitte. This is because, since we ordered some carpet from Carpet Right last month and it was due to go in yesterday, we were technically an affected creditor. Luckily the guy turned up so no worries there.
The Carpet Right in Newmarket is next-unit-but-one to a Bunnings, which was a Homebase until the Australian parent company rebranded it recently. Quite liked it, tbh, but it sounds like they are considering selling up completely.Comment
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