Conviviality reeling from £30m surprise tax bill
Crewe-based Conviviality, the owner of Bargain Booze and Wine Rack, issued a second profit warning in less than a week after being hit with an unexpected tax bill for £30m which falls due for payment at the end of the month.
The AIM-listed company issued a statement saying the tax bill had created a “short-term funding requirement” following its announcement several days ago that its EBITDA for the year ending on April 29 will be £5.2m less than predicted because of a “material error in financial forecasts” – 20% lower ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
