Opinion: Worcester Warriors and a defence of the RFU May 5, 2023 Governing any sport is never easy. It is a slog of monstrous proportions where failure to please the masses is almost guaranteed. The Rugby Football Union (RFU) cannot claim to have an unblemished record but, so far at least, in the case of Worcester Warriors, they haven’t put a foot wrong. English rugby’s bigwigs have [...]
Exclusive: Wasps apply to RFU to use Worcester Warriors’ Sixways Stadium May 3, 2023 Former Premiership club Wasps have applied to the Rugby Football Union to play at Worcester Warriors’ Sixways Stadium from next season, City A.M. understands. The Coventry-based club fell into administration just weeks after the Warriors but with news of the Atlas consortium’s purchase of Worcester earlier today, it is understood that Wasps have asked the [...]
D-Day for Worcester Warriors as deadline looms for rugby club May 2, 2023 It is D-Day for former Premiership rugby club Worcester Warriors with the deadline between the proposed owners Atlas Consortium and administrators Begbies Traynor set to expire today. The administrators, who took over the club in September, swapped contracts with Atlas – led by former Worcester chief executive Jim O’Toole and ex-player James Sandford – on [...]
Worcester Warriors set to lose P Share amid sale to Atlas Consortium April 25, 2023 Troubled former Premiership rugby club Worcester Warriors are set to lose their “P Share” imminently, even if their sale is finalised next week, say administrators. The side’s future has been in doubt since entering administration in September, and preferred bidder the Atlas consortium has been told it must complete a buyout by 2 May. In [...]
Exclusive: Diamond stands ready to save Worcester Warriors if Atlas deal collapses April 18, 2023 Former Worcester Warriors boss Steve Diamond stands ready to rescue the financially stricken rugby club amid growing uncertainty over whether the Atlas consortium will meet a looming deadline to complete their purchase. Sources close to the situation told City A.M. that Diamond and previous Worcester Warriors sponsor Adam Hewitt maintain their interest in the club, [...]
AO World shares soar 11 per cent as cost cutting measure help raise profit guidance April 14, 2023 Shares in AO World soared 11.33 per cent this morning as the electrical retailer revealed that it was raising its profit guidance for the fourth time since July thanks to a scheme of cost cutting measures. The Bolton-based business told investors that estimated UK revenues for the full year are expected to be £1.13bn and [...]
Explainer: Tesco needs more than cheap milk to keep loyalty in the supermarket price war with Aldi and Lidl April 14, 2023 Tesco has had a rocky week. In the midst of a cost of living crisis, remaining loyal to businesses is tough, as the nation has been forced to favour being frugal over buying name brand goods. This revelation rang all too true for Tesco on Thursday, as Britain’s biggest supermarket reported its operating profit was [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy March 27, 2023 The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million-pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – [...]
Tim Martin’s JD Wetherspoon blames ‘ferocious’ inflation for profits plummeting 91 per cent March 24, 2023 The chief of JD Wetherspoon has said blamed “ferocious” inflationary pressures in the pub industry as the pub giant reveals a 90.9 per cent loss in profits for the 26 weeks to January. As the cheap beer chain felt the hangover from Covid-19 and Brexit supply issues, pre-tax profits were down to £4.6m compared to [...]