Vegas & The Aftermath - Diary

[StuartHopkin]

Taken into Custardy.

Nice 

I know part of this story is the numbers not adding up, but I still don't get it.

Even if the finance guy has nicked £20m, the main trading company still has £40m on the balance sheet.
Why are they struggling to pay £1m to HMRC who would happily take the £1m over 12 months?
They turn over £2m a week! Thats a lot of cream cakes! And net over £1m a month!

[tikay]

We shall gloss over Tighty's custardy, but this is just extraordinary.

Very unusual for an arrest to be made so early. Very unusual for so much cash to disappear so quickly, such that a £1m bill cannot be met when they were supposed to have £30 milly of ready cash. And The Board never knew that HMRC had issued a winding-up order.

The whole thing is beyond belief.

Great story in the making, sort of Nick Leeson style, & I'm loving it, but of course, thoughts with the staff who may lose their jobs.

[RED-DOG]

Patisserie Valerie says finance chief arrested

Taken into Custardy.

https://www.bbc.co.uk/news/business-45833597

What happened to the dough?

[RED-DOG]

It's not a trifling amount.

[StuartHopkin]

Patisserie Valerie says finance chief arrested

Taken into Custardy.

https://www.bbc.co.uk/news/business-45833597

What happened to the dough?

I bet he cannot believe it's all scone.

[RED-DOG]

He must be a crepe accountant.

[doubleup]

They turnover £2m a week!

fixed

[doubleup]

Good answers, & correct.

When Pommy was in that Dublin EPT thing - & if I recall correctly, the final of which was held in a Library or Museum (truly) - Dave Shallow & a bunch of fellow degens jumped on a plane to Dublin, hired a big limo, & they all went out on the piss, big time. Quite a night, I was told.    

Not sure who Pommy works for now. Last time I saw him - must have been 6 or 8 years ago - he was working for BlackBelt Poker, aka Mr Channing. I went across to their Office, Snoopy was there too, plus a very pretty young lady who later turned out to be handy at poker. Can't remember where the office was, maybe Hampstead, Highgate, somewhere up that way.

Quite a nice office it was, too, presumably paid for out of the enormous profits Ambo made from BlackBelt. In theory.

That Dave Shallow story sounds familiar, I have a vague memory that Dave Pomroy had to finish 6th to break even.   Sure he was DPommo, not Pommy, but could be wrong.

Unibet is the answer, 888 did feel wrong.

Is there some Skypoker event going on that I can't attend at the weekend?

Yes, DPommo rings a bell. He was THE man in UK online nosebleed cash game stakes at the time. And yes, he had to finish 6th to get ahead.

Sky Poker event this weekend - yes, we head up to the sunny climes of Glasgow for an SPT. £50,000 Guarantee, so not exactly a Party Poker Millions affair. Let's call it a niche product.

I head out of Euston at about 7am on Friday, so train & railway photos incoming.

Great tourneys, and we both thoroughly enjoyed the one at Brighton.

Keep your trains, I'm heading out of Southampton at 17:30, and probably won't arrive too far behind you

might pop down and say hello

[StuartHopkin]

They turnover £2m a week!

fixed

 

[Supernova]

There is another business drama unfurling within the Beauty Industry. From Elle magazine:

Forget the Kardashians—are you keeping up with Deciem? Over the first three months of 2018, the Toronto-based, self-proclaimed "abnormal beauty company" captivated the beauty industry with its series of unpredictable events: messy public firings; Instagram mayhem including photos of garbage dumps, dead sheep, and fights with followers; and alarming accounts of an abusive work environment.

At the helm of the drama is Brandon Truaxe, Deciem's founder and acting CEO (he stripped the official title from himself to be called "worker"—more on that later). In January, he took it upon himself to singlehandedly manage the company's social media account in the name of transparency. What resulted was confusion.

For the record, the company is wildly successful. Though it was founded in 2013, over the last year it catapulted to popularity across social media and aggressively expanded store opening plans to Melbourne, Sydney, Seoul, the UK, and the US. It is projected to earn $300 million in sales in 2018 and, last summer, Estée Lauder made a minority investment (it owns 28 percent). You likely recognize Deciem's most popular line, The Ordinary, which has won over skincare enthusiasts with its no-frills, active ingredients-focused, freakishly affordable line of products. It's so loved that when it launched a foundation in 2017, it earned a 25,000-person waitlist.

Now, fans of the brand have started questioning whether or not the company will still thrive amidst recent happenings. Whether it's your first time hearing about Deciem or you've been following it but feel tangled in all the layers, buckle up. We're breaking down what happened piece by piece, ahead.

This one is interesting reading and as one of their customers - I love some of their revolutionary products which have caused a quite a stir within the industry, it's been mind boggling and it's set to run a while longer. Customers have been stocking up for a while now fearing a product shortage.

https://www.elle.com/beauty/makeup-skin-care/g19723451/timeline-deciem-brandon-truaxe-drama/

[tikay]

Isn't this just perfectly lovely?

Click to see full-size image.

[tikay]

The Patisserie Valerie cake shop story just gets better & better.



The board of Patisserie Valerie discovered the existence of two "secret" company bank overdrafts this week, according to boss Luke Johnson.

The entrepreneur told the Sunday Times that £9.7m had been spent in two overdrafts set up with HSBC and Barclays.

Mr Johnson said neither he, the board, nor the auditors had known that the firm had bank overdraft facilities.



https://www.bbc.co.uk/news/business-45854817



Nice cakes though.



 

Click to see full-size image.

[RED-DOG]

The Patisserie Valerie cake shop story just gets better & better.



The board of Patisserie Valerie discovered the existence of two "secret" company bank overdrafts this week, according to boss Luke Johnson.

The entrepreneur told the Sunday Times that £9.7m had been spent in two overdrafts set up with HSBC and Barclays.

Mr Johnson said neither he, the board, nor the auditors had known that the firm had bank overdraft facilities.



https://www.bbc.co.uk/news/business-45854817



Nice cakes though.



 

Click to see full-size image.

Perhaps it is possible to have it and eat it after all.

[tikay]

Whilst everyone is prattling on about Brexit, POTUS & film shite, I'm debating a serious matter here, the demise of a proper cake shop, & all folks wanna do is come up with puns.

It's outrageous really.

And another thing, not one comment about that oh-so-beautiful Scammell.

 

[hhyftrftdr]

The Patisserie Valerie cake shop story just gets better & better.



The board of Patisserie Valerie discovered the existence of two "secret" company bank overdrafts this week, according to boss Luke Johnson.

The entrepreneur told the Sunday Times that £9.7m had been spent in two overdrafts set up with HSBC and Barclays.

Mr Johnson said neither he, the board, nor the auditors had known that the firm had bank overdraft facilities.



https://www.bbc.co.uk/news/business-45854817



Nice cakes though.



 

Click to see full-size image.

I pass a PV on the way to work. They've been advertising for staff and ''management opportunities''.

Can't imagine they've been inundated with applications recently.

It's a funky story to rail, though naturally I hope all works out ok for the staff.