Walking the Pier right now. Pleasantly busy for a late, chilly afternoon - ticking over nicely! |
that's negative, I think they managed their business as good as they possibly could have, they have been thrown everything at them, covid, bad weather, massive inflation, and they are still alive while lots of business have gone out of business in the same sector. Also no capital raise for now. So it is well managed for a microcap.
I'm keen to see the year end net debt position, if that is ok and we have a better year on the weather front, this could change quickly. |
Make no difference, they’ll be using a late Easter as an excuse for poor trade! |
This weather reminds me of the 2020 Spring with fabulous sunshine whilst we were all in lockdown |
nice weather in Brighton for the next 14 days apparently |
Yeah, hopefully be finished at some point this coming week. Glad it's happened in the quieter months.
The pavements are still open.
I think they will want to get it done this week as its the Brighton half marathon
You can still park up normally on marine parade. |
Road closure close to the pier |
Why ? Thanks |
Its likely then Nightcap might merge with Brighton Pier and get themselves back onto the stock market. |
it's still full access so hoping it won't make any difference |
Structural work at entrance to pier starting this morning. Expected to be completed by Easter bank hol... let's hope so. |
So the admission charge is on the news today
Still free to enter for local residents and the £2 comes with a £1 voucher. Good move
I see Clacton Pier are cutting operational hours to trim up the business. |
For me it's a plus we missed the i360, don't like a capital increase at current levels. Invest in what you got, pay down debt and don't try to expand into something which will consume cash at least in the beginning.
I know there would have been quite a lot of synergies possible, but in the current climate wise not to stretch it and no matter how you look at it : every acquisition is partly a risk. Another bad summer at Brighton would have then impacted 2 of the assets instead of one |
Buyer of i360 revealed:-
Surprising as my perception of Nightcap was of a company strapped for cash. |
I'm not so sure. Merlin are doing a lot of restructuring and changes |
Got to be Merlin I think Crootes... |
Agreed - they've probably been selling for a while.
On a side note, I thought we would have known about the "mystery" buyer of the i360 by now. |
That fund looks like it's in trouble: -30% over last year, so I wouldn't be surprised if it's winding down generally. Would have taken a while to sell that many shares, might explain some of the recent weakness. |
Helium bought back in April 2021 at around 45p ... held for 3 years and now sold half their holding at 20p. What a trade. |
It's actually remarkable that they get 200,000+ customers a year all paying £20 and they can't make a profit. Great asset. A very different animal but I would note that the most profitable tourist attraction of all time in London is The London Eye. £30mln of annual profit. But I also note it's owned by Merlin. And I have to say they would be more likely to be the preferred bidder if they're interested. LJ and PIER shareholders don't have deep enough pockets and he has made himself toxic among the Brightonian political class. Hope I'm wrong |
Hi guys. Brighton Council seem to have agreed to take a share of future income from the new i360 owner in return for writing off the outstanding loans and debt.
...in addition I note that the Fixed Assets / Structure of i360 has been written down by a Director of the i360 company in Administration to a value of £200k in the Statement of Affairs which suggests to me the purchase price of whoever is going to acquire the attraction will not be a large one.
The future income share element will seemingly also be small,
"And if we proceed with the recommended buyer that has come forward, the city council will get a small share of future revenues."
...5% or less I guess so whoever gets ownership could do well if they can crank up the revenue (good weather permitting as the croots will point out) and perhaps reduce admin costs as Ijamlon has mentioned. |
Another possible negative factor is that LJ's sometimes aggressively megaphoned right-wing libertarian anti-vax views (look at his Twitter feed) are totally at odds with the Brighton and Hove left / green political majority as you can imagine. Not sure they will be keen to do him any favours or see him boosted. Hopefully I'm wrong. |
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
