Registered:
10/11/08
Seen:
6:12pm
Followers:
33

Comments
526

Occupation: Retired

Interests: Bonds, Emerging Markets, Oil, Stocks




Peterg's Latest Comments

All we know is that he's admitted he probably took his eye off the ball,Bit of an understatement!As others have said, he's also trying to save many jobs in the process. I'm not sure what more he could have done, under the circumstances.I don't disagree with any of that, and it's certainly a good thing for all concerned that his able to do so. But…

I think Johnson's motivation will not be as altruistic as you suggest. As owner of 37% of the company, if he can at least keep the show on the road for £20m, some of which he should get back soon, he almost certainly comes out ajeat - possibly well ahead - of where he would be had CAKE gone to the wall.

Despite the short-term cashflow for Johnson I can't see him doing too badly out of thisAbsolutely. CAKE had an mcap of £450m or so prior to last week, of which Johnson owned 37%, or £160m+. It's a no brainer, if he has the readies, to pump in £20m or so if he thinks that can keep CAKE afloat, which seems possible, as far as we…

If Luke Johnson is allowed to pick up the company's assets cheaply in a pre-pack administration arrangement then that would be a huge injustice. Rewarded for his own lack of oversight.Yes, I totally agree, but who is going to stop him? It's going to look like a very easy arrangement to the administrators - he's already there and he presumably has enough cash, (or more…

It would seem that the discovery of a winding up notice from HMRC was one of the factors alerting people to a problem. Then it seems they discovered that £28m of cash had disappeared, perhaps when they quickly wanted to pay off the HMRC. Except that the missing cash was announced and followed 4 hrs later by an RNS saying the board had just discovered…


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