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FISH Fishing Rep.

5.00
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Fishing Rep. Investors - FISH

Fishing Rep. Investors - FISH

Share Name Share Symbol Market Stock Type
Fishing Rep. FISH London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 5.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
5.00
more quote information »

Top Investor Posts

Top Posts
Posted at 20/9/2018 14:16 by forsh
Think the only hope here is that the investor group find something decent to reverse into FISH. Hard to believe they threw money into this at 35p in June 2016

Fishing Republic, the fishing tackle retailer, is pleased to announce that it has raised £3,750,000 (gross) through a placing of 10,714,288 new ordinary shares of 1p each ("Ordinary Shares") at a price of 35p per placing share (the "Placing Shares") to new and existing shareholders (the "Placing"). The net proceeds of the Placing will be used to support Fishing Republic's continuing expansion as it seeks to build a significant market presence in the highly fragmented fishing tackle sector. In particular, the new funds will be used to develop Fishing Republic's online platform and digital strategy, and to support further store openings, including potential acquisitions.



The Placing, which was heavily oversubscribed, was undertaken by the Company's broker Northland Capital Partners and the placing price of 35p represents an 8.7% discount to the Company's 30 day volume weighted average price prior to 23 June 2016.



Amongst the new shareholders participating in the Placing, Fishing Republic is pleased to announce that Bill Currie, Iain McDonald and Sir Terry Leahy have agreed to subscribe for, in aggregate, 6,014,286 Placing Shares in the Company, which will equate to a combined shareholding of 15.9% of the Company's issued share capital immediately following the admission of the Placing Shares to trading on AIM ("Admission"). Following Admission, these shares will be held by Tilney Nominees.
Posted at 24/5/2018 09:54 by vilage_idoit
Took a position this morning after trying to buy yesterday afternoon. MMs wouldn't fill my order at all so little stock about.

Was going to wait until results but decided to take an opening position. I think the worst is over as recent raise was done with Kamanis (Boohoo), Sir Terry Leahy (old Tesco CEO), Zeus founders, and the board. Gave the co £1.3m gross cash and there is no debt on the balance sheet. Board restructure and whereas previously it was a family run business with a CEO and FD they now have a COO, Head of Merchandise and Buying etc, outsourced the website to professionals.. CEO is ex-Superdry Head of E-commerce who grew the business £3m to £70m.

Bit risky, but there is a bowl on the chart and revenues were up 64% with LFL 22%. It's a growing business, and they had problems with stock shifting and holding too much of it - the board say that was their goal to turn it around. DYOR!

Worth viewing the Master Investor presentation on YouTube with the COO.

@vilage_idoit
Posted at 01/5/2018 16:17 by forsh
All rather odd. Some serious investors in retail on the shareholder list here but the results were expected mid-April. Probable that there will be a real kitchen-sinking in the numbers when they are eventually released and, as we are 4 months into the current year, it will be interesting to see how trading is going. Even the website appears to be down at the moment - hardly inspires one with confidence !
Posted at 26/12/2017 13:48 by cold pasta man
Christopher Griffin – read the employee reviews about him on the Anatwine pages on the Glassdoor website.

This is quite funny though:

But seriously, investors deserve to know about the following:

GK ENTERTAINMENT LIMITED (FORMERLY GODSKITCHEN LIMITED) – IN ADMINISTRATIVE RECEIVERSHIP (‘THE COMPANY’)

Report to creditors pursuant to Section 48 of the Insolvency Act 1986

1 INTRODUCTION

1.1 Following my appointment as joint administrative receiver on 5 August 2004, I am submitting our report to the creditors pursuant to section 48 of the Insolvency Act 1986.
1.2 Statutory information relating to the company is contained in Appendix 1. The company changed its name from Godskitchen Limited to GK Entertainment Limited on 27 July 2004.
1.3 A Summary of the Directors’ statement of affairs is attached at Appendix 2.

2 HISTORY AND EVENTS LEADING UP TO APPOINTMENT OF ADMINISTRATIVE RECEIVER
2.1 The company was incorporated on 1 March 2000 as Godskitchen Limited and operated CODE nightclub from leasehold premises, in Digbeth, Birmingham. In addition the company ran a number of music events at hired venues across the UK and Europe.
2.2 Although the nightclub building is leased, prior to the opening of the nightclub in early 2000, the company invested in excess of £900,000 in tenants improvements, to convert the building into CODE nightclub.
2.3 Code nightclub closed for refurbishment in late July 2003 and reopened in late September 2003 as Air nightclub. The refurbishment cost in excess of £300,000. At the time of reopening, the company ceased to operate the nightclub. The directors say that a management agreement was issued by the company to Air Promotions Limited, a company with associated directors, to operate the nightclub. Despite a number of requests, we have not been provided with a copy of the management agreement.
2.4 The company continued to operate a limited number of music events at hired venues across the UK and Europe.
2.5 Although the company ceased operating the nightclub in late July 2003 and ceased to receive the income from the nightclub certain expenditure relating to the nightclub continued to be paid by the company, resulting in the bank overdraft increasing from £422,885 on 1 August 2003 to in excess of £1.2m in August 2004. As a result on 5 August 2004, Bank of Scotland issued a demand for repayment of their debt, which was not satisfied. Consequently Bank of Scotland appointed Andrew Menzies and myself as joint administrative receivers on 5 August 2004.

3 FORFEITURE OF THE NIGHTCLUB LEASE
3.1 On 2 August 04, the landlord of the nightclub forfeit the lease due to non payment of rent, insurance and interest. As a result, tenants improvements costing in excess of £1.2m appear now to be held by the landlord. We have requested documentation from the landlord to substantiate the forfeiture and we are waiting for a response.
3.2 We understand one of the Directors, Mr Moffitt is a guarantor under the lease and a new lease has been granted to Godskitchen Worldwide Limited, a company with associated directors.
3.3 Despite a number of requests to meet with the Directors and obtain access to the nightclub immediately following our appointment, to identify assets belonging to the company, we were finally allowed access on 7 October 2004. We are in the process of agreeing those assets identified at the nightclub to the Directors statement of affairs.

4 POST APPOINTMENT ACTION
4.1 Following our appointment we caused the company to issue proceedings against the Directors alleging misfeasance principally in connection with the transfer (apparently for no consideration) of the nightclub business to Air Promotions. We also obtained a freezing injunction preventing Air Promotions Limited from moving from its account the sum of £526,000. We now await the Defence of the Directors and Air Promotions.
4.2 After some delay we have obtained the majority of the books and papers of the company and have interviewed one of the Directors and Senior Manager of the company.
4.3 We are investigating the inter-company position between the company, Air Promotions and various other companies having common directors and shareholders.

5 SECURED AND PREFENTIAL CREDITORS
5.1 The amount due to Bank of Scotland at the date of my appointment was £1,238,699 to which interest continues to accrue. This is secured by a fixed and floating charge over the company’s assets.
5.2 We have been informed by the directors, there are no preferential creditors.

6 OUTCOME AS REGARDS UNSECURED CREDITORS
6.1 According to the directors’ statement of affairs, which is summarised in Appendix 2, the unsecured creditors claims are currently estimated at £1,220,685.
6.2 Unfortunately, as can be seen from the summary statement of affairs there is no likelihood of a dividend to unsecured creditors.

7 OTHER MATTERS
7.1 The directors’ sworn statement of affairs for the company was submitted to me on 30 September 2004. A summary of its contents, together with my comments thereon is attached at Appendix 2.
7.2 A notice convening a meeting of creditors is attached at Appendix 3. At this meeting, this report will be presented to creditors who will be able to vote on appointing a creditors committee. The meeting will be held at 10am on 5 November 2004 at Grant Thornton, Enterprise House, 115 Edmund Street, Birmingham, B3 2HJ
7.3 Finally, as joint administrative receivers one of our duties is to report to the Department of Trade and Industry on the conduct of the Directors of the company prior to our appointment. If you have any comments you would like us to consider in our report, please forward these for my attention to the address detailed above.
7.4 In addition, following our appointment, we requested all the company’s books and records on a number of occasions. Although the directors’ have now provided the majority of the books and records, these appear to be incomplete. In order to assist us in our investigation, I would be grateful if you could forward any invoices issued to the company since 1 July 2003 to the address detailed above. It would also be helpful if creditors could confirm who they dealt with at the company in relation to the delivery of their goods and services to the company to whom invoices were submitted and who creditors dealt with in connection with attempts to collect their debt. Creditors are also requested to confirm who they believe the Directors of the company to be.

For and on behalf of
GK Entertainment Limited

Appendix 1
GK Entertainment Limited (formerly Godskitchen Limited) – In Administrative Receivership
Statutory Information
Registered Number 3937005
Date of Incorporation 1 March 2000
Registered Office Grant Thornton
Enterprise House
115 Edmund Street
Birmingham
B3 2HJ

Issued Share Capital
Ordinary A Shares of £1 each 100
Ordinary B Shares of £1 each 100

Shareholders Christopher Griffin
James Algate
Neil Moffit
Tyrone Matthews

Directors Christopher Griffin
James Algate
Neil Moffit

Company Secretary Antonia Algate


Other information includes:
Christopher Griffin was appointed a director of Air Promotions Ltd (company no. 4883285) on 6 September 2003. At that time he was also a director of Godskitchen Limited, Godskitchen Worldwide Limited and Godskitchen Online Limited.
Christopher Griffin was also a director of Masterking Limited (company no. 4111582) a subsidiary of Godskitchen Limited. Masterking entered a formal insolvency procedure on 7 October 2002. As a result, the £89,718 owed to GK Entertainment Limited was not recoverable by the Administrative Receivers.
The Administrative Receivers report also show a sum of £32,182 owed by Christopher Griffin to GK Entertainment Limited and balances of £38,660 & £127,529 owed to GK Entertainment Ltd by Godskitchen Online Ltd and GK International Events Ltd respectively.
The Voluntary Arrangement paperwork relating to Masterking Limited shows £23,700 owed to the Performing Rights Society.

From the above, it appears that Christopher Griffin was a director of:
Godskitchen Limited (03937005)
GK Entertainment Limited ( “ “ )
Godskitchen Online Limited (04192212)
GK International Events Limited (04380172)
Masterking Limited (04111582)
Air Promotions Limited (04883285)
Godskitchen Worldwide Limited (04312908)
Godskitchen Events Limited (04369442)*
GKEV Limited ( “ “ )*

* On 23rd January Christopher Griffin signed the Statement of Affairs of GKEV Limited pursuant to section 95/99 of the Insolvency Act 1986. This showed the company to have no assets, but liabilities of £249,672, including £143,010 payable to HM Customs & Excise.
Posted at 16/11/2017 12:26 by norbert colon
https://www.thetimes.co.uk/article/fishing-republic-catches-investor-leahy-with-dismal-line-lgbcrct7j
Posted at 15/11/2017 10:16 by norbert colon
Clearly disappointing for all investor here. Recent posts are almost just as disappointing though re: constructive comments!

One thing that I need to point out is that a lot of the big angling manufacturer's i.e. Shimano etc will not sell their products to online (only) retailers and hence demand a physical store presence. Anglers will always want to go into a store and see the products they want to buy. The issue is that they will often then search online and buy it at the very cheapest price possible (and why not). This is where Fishing Republic are struggling as Angling Direct are fierce on price and have a bigger / better / more established online presence.
Posted at 14/11/2017 18:48 by topvest
This is not worth investing in. Not sure why Gervais Williams and other so called institutional investors were so easily had over. It was always going to be a low to no growth cash consuming business. Just how many weights, floats and rods do you need to keep in stock to keep the odd angler happy!
Posted at 14/6/2016 09:30 by michaelmouse
I have a lot of respect for John Lee. Another investor with sound investment principles and a very good demonstrable track record. His book is a very good read.
Posted at 14/6/2016 07:37 by norbert colon
I have had the pleasure of meeting John Lee a couple of times at various investing events and am equally pleased that he is invested in FISH.https://audioboom.com/boos/4670489-small-cap-investors-lord-lee-discusses-his-investment-secrets
Posted at 06/6/2016 17:54 by battlebus2
Thanks michaelmouse, it's the contributions made by some very intelligent investors that make it. Thanks to Norbert from me also as I'd never have bought into here either if he hadn't posted about it on the thread.

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