On canacord list of recommended buys |
None of this news seems to have a positive impact on the share price though. Full year results coming out in late August. They have said that they will be paying a dividend. |
That's particularly significant because when Rileys previously got into difficulties 6 years ago, they appointed Deloitte as Administrators, who would presumably have been the obvious choice again. And yet they have switched to FRP.
Also worth remembering, for every high profile client name we hear of, there will be many more that aren't reported in the national media. |
Mention in Sunday Telegraph that FRP is advising Rileys Sports Bars. |
MANO post tax profit c. £7m (Market cap (£240m)Seems much more expensive than FRP? |
Surge in demand for redundancy advise - |
Times today shows FRP acted as administrators for Everest & Monsoon - arranging pre pack sales! |
Good numbers and positive commentary from MANO |
Think these could benefit when MANO report this week. |
Don't know the name without a subscription, but just published: |
Half million trade just reported at current mid price. £621k. |
Sounds promising...https://www.londonstockexchange.com/news-article/MANO/change-of-date-for-full-year-results/14585559 |
First update on FRP's Twitter feed in last 2 weeks, is (unusually for them) to publicise their job vacancies. Maybe struggling to keep up with demand? |
Mention in the Times online today
"It is probably easier to list the casual dining chains that have not hired restructuring advisers than those that have."
"Pizza Express, Prezzo and Gourmet Burger Kitchen are among the household names to have appointed firms to help them consider “options” as they battle to survive — and more are likely to follow. Prezzo, an Italian concept with about 180 restaurants, has taken on FRP Advisory to help it navigate the Covid-19 minefield" |
Some interesting comments in this article from 2 days ago reporting the appointment of a new FRP partner in Scotland.
"The firm’s restructuring wing will be in keen demand in the months ahead"
"The team in Scotland warmly welcomes Chad as our fourth partner in Scotland at a key point in the development of the business. He ... will complement our business and will position us well to meet a steady growth in demand for our expertise"
"The news comes just a month after FRP Advisory promoted two members ... as demand for restructuring services from consulting firms boomed thanks to the Covid-19 pandemic" |
It's an ill wind that...... has allowed me to pick up some stock at a decent price. |
And the share price drops on one of the very few defensive stocks against the dire economic outlook! |
FRP Advisory in the news again today
Dominic Walsh
Wednesday June 10 2020, 12.01am, The Times
More than 1,000 jobs have been saved after the country’s best-known double-glazing company was rescued from collapse.
Everest has been sold back to Better Capital, its private equity backer, via a pre-pack administration. The deal, negotiated by administrators at FRP Advisory, secures 413 full-time jobs plus 600 self-employed contractors. |
Good spell of buying today.
1 year high equalled. |
134p +8p
Is going places today
Las Friday GAP up with a good rise, but today is rising in a very nice way and breaking the last Intraday high on May 18 |
Added again this morning. Was always planning to, so was annoyed to see the IC tip spoiling my timing! |
Marked up to 125.50p from the start, must be due to the IC tip |
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