Report this comment to a moderator

Kennedys' net debt doubled in 2011/12 as result of tax loan

Their cash decreased by £9m over the previous year - that includes £3.7m less cash generated by the business and £6.5m more cash paid out to the partners. That's why a further £10m was borrowed. That's not a cashflow blip - it's rescue funding. Because if you don't pay the partners, they walk. A dangerous situation, to be watched very closely.

8-Feb-2013

5:27 pm