Patisserie Share Discussion Threads

[opodio] 11/10/2018 15:09

Luke Johnson should put the money in
And institutional investors match him pound for pound
Or else his days in the city come to a disgraceful end

[cockneytrader] 11/10/2018 15:07

BOD office 'What does this button do?', 'Oops!'

[hvs] 11/10/2018 15:01

This is crazy. In a week it's from touching £500m market cap to now bordering on going bust. With no clues in the accounts either.

All from selling CAKES £ 500 mill and was it Cream CAKES ??? Just wondering WHO got the cream.

A disgraceful episode really really nasty.

[phowdo] 11/10/2018 14:56

Q: "So how did you do it?"
A: "It was a piece of cake"

Q: "How much is left?"
A: "A few crumbs"

Q: "Ok, your sentence is a smacked wrist. Dont do it again."
A: "Sweet"

[barvin] 11/10/2018 14:54

This is crazy. In a week it's from touching £500m market cap to now bordering on going bust. With no clues in the accounts either.A warning to us all how nothing is a "sure thing"

[sandy133] 11/10/2018 14:52

It is amazingly difficult to lay a glove on Directors for being useless.I tried to sue a CEO after I had him sacked ,discovering a loss of £500,000 in a year not the £35,000 claimed by the 2 Exec Directors.Our Solicitor said that we should even pay them redundancy money as the chances of suing was so low.
The problem here is that the people who have to sue are the people that bought their shares not the company, generally Institutions prefer to only be embarrassed once and not to be reminded of their errors

[snoopy12] 11/10/2018 14:50

The administrators will feed it to the dogs to make sure they have the first call on the pot.

[hvs] 11/10/2018 14:46

likely case - goes into administration and someone buys business for nominal amount from administrators on pre-pac basis and chain continues with some closures.

No body should be allowed to buy it . Let them buy the assets and start again. This is a shareholders business and no one should be allowed to get it for NOTHING.

Nobody knew anything no one accountable and all pocketing big sums of money all from selling CAKES not
bad at all.

Now we will all eat bread.

[cockneytrader] 11/10/2018 14:45

Giving evidence : Christ, it was a gaper of a hole. A bit like rattling a stick in a tin can, if you know what I mean your Honour.

[quepassa] 11/10/2018 14:43

whatever happens - small shareholders screwed for sure.


best case scenario - cash injection via equity issue but small shareholders will be diluted out of sight

worst case - business and branches close down

likely case - goes into administration and someone buys business for nominal amount from administrators on pre-pac basis and chain continues with some closures.


The Serious Fraud Office need to get involved quickly in my view.

Luke Johnson gets my personal award for worst Executive Chairman of the decade.


ALL IMO. DYOR.
QP

[hvs] 11/10/2018 14:43

Nice aint it. Its all in the bank for a job very very well done.

[phowdo] 11/10/2018 14:40

Does crime pay?

2018-07-20 Chris Marsh £680k from cashing in share options
2018-02-02 Chris Marsh £1.27M from cashing in share options
£1.95M total this year alone

2018-07-20 Paul May £1M from cashing in share options
2018-02-07 Paul May £1.6M from cashing in share options
£2.6M total this year alone

[pugugly] 11/10/2018 14:38

Landlords must be sweating and spitting blood - Rent roll lost (plus any backlog) - High street property companies already under the cosh - Could also impact pensions of all as a chunk of many pension schemes are usually invested in property -
Agree that LJ probaly has a lot of egg on face - Has certainly lost face (oriental way)

Very foolish of someone not to pay HMRC - Landlords and suppliers will usually wait not the Revenue -

[snoopy12] 11/10/2018 14:37

I would also be interested to see if any insider trading had been going on prior to the suspension.

[ip99] 11/10/2018 14:37

Unless GT were agents for the company with HMRC they wouldn't know. Auditors don't receive letters directly from HMRC. Correspondence about the tax position might not have been fully disclosed to them.

[grahamhacker] 11/10/2018 14:36

Everybody seems to be jumping the gun! Yes, as shareholders there is doom and gloom but let's wait to understand what's caused this mess. Yes, mentally I've already written off 75%, leaving approx book value (assuming this to be approx correct!)1. Is it a fraud ie the accounts are "correct" and the money has been stolen (somehow) or2. The figures have been fraudulently misrepresented - a cover up.The audit at last year end would have obtained independent confirmation of the cash balances, unless of course confirmations were fraudulently produced.If it's 1. (or a mix) then the business could still be viable and a knight could be prepared to come along and invest, but of course any investor would want to know all the detail.

[hvs] 11/10/2018 14:35

Madame Valerie there is no CAKE !!!

Well, let them eat BREAD.

[wwepe] 11/10/2018 14:34

When Quindell renamed itself to Watchstone after shares were suspended for 2 years or so, after trading resumed the price was trading circa 95% lower. I can see the same happening here and SFO involvement mandatory.

[catsick] 11/10/2018 14:33

The recent rns just out makes it sound a bit like the jamie oliver situation, trading rapidly declining and covered up until the coffers were empty and the tax man could not be paid, jamie stepped up and put in the cash at short notice, lets see what luke is made of !

[cockneytrader] 11/10/2018 14:32

'Good afternoon, I'd like to order a cake with the words, Welcome to HM Prison Wormwood Scrubs. Can I use my Groupon vouchers for that?'

[lord gnome] 11/10/2018 14:31

I smell a nasty cut and shut with CAKE. Will your man seek to do a pre-pack insolvency and buy out the business from the receiver?

[cockneytrader] 11/10/2018 14:26

Half price cake sale. Today only, while stocks last.

[hpcg] 11/10/2018 14:18

Not sure why you think Fever Tree hvs? One can question the valuation the market has given but not the success of the product nor the high margins in CSDs. Quite different from a cake shop when restaurant margins are known to be on the floor.

[smokybenchod] 11/10/2018 14:17

Of course they all knew including LJ. How can the business suddenly become unviable without a profit warning - by cooking the books that’s how and there’s no way the FD kept this to himself for all these years, there’s no upside for him over and above the other BOD’s. Still think LJ cares about his rep Harold? I hope the lot of them rot in hell and sincere commiserations to the staff who are the real losers here.