Thursday, October 9, 2008

Have it!

Tchenguiz loses £1bn in 24 hours in stakes sell-off

Robert Tchenguiz, the property entrepreneur, lost £1bn in just 24 hours after being forced to offload his stakes in J Sainsbury and Mitchells & Butlers as the fallout of the Icelandic banking crisis hit corporate UK. Mr Tchenguiz lost up to £600m on the sale of a 10 per cent holding in Britain’s third-biggest supermarket chain and about another £400m on his exit from the pub company, making the entrepreneur one of the biggest individual casualties of the credit crunch in the UK. He was said to be taking a philosophical approach to his losses. “Life goes on,” said one person close to his group on Wednesday.

Posted by lvmreader @ 02:01 AM (481 views)
Please complete the required fields.

2 thoughts on “Have it!

  • Brought a good company in Mitchells and Butlers to its knees, with a ludicrous attempt to sell and lease back pub properties.

    At least they should now be in a position to recover bringing a sense of justice, though it is remarkable how one individual can threaten the jobs of thousands of employees through their own self-interest.

    Please complete the required fields.

  • mwaha

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>