Dame Siobhain McDonagh, a Labour MP on the Commons’ Treasury select committee, said: “Just before Christmas, Aurelius released a statement saying they would ‘re-energise the business’ and ‘deliver the next chapter of success’. Less than three months later they are putting the brand into liquidation and look like they are first in line to be paid. You have to question their sincerity. Did they ever intend to grow the business?
“The same statement said that The Body Shop has been a pioneer in corporate social responsibility. If they want to live up to that, they had better put their shop and office staff first before paying out to themselves. There are more than 2,000 jobs at risk and I want to see them protected before private equity firms profit from this deal.”
Wages and redundo payments are protected (or whatever the word is – ah, preferential debt) creditors. They get paid first.
Well, they are preferential creditors, up to a certain point. Not sure about extra redundancy pay or pay for directors.
I wonder what will happen to the “partners” when John Lewis goes tits up.
Yeah she won my old constituency in 1997 from the late Angela Rumbold (pbuh). Shame Rumbold was quite sound, this one didn’t sound like she had much up top. She was born locally though. It is the poor end of Merton and where the old Unigate dairies used to be is a monster mosque.
There’s nothing like a Dame! Nothing in the world!
Good job she’s on the Commons’ Treasury select committee. After that she’d never get selected now, would she?
Would she? Oh, right…
Ottokring
Remember her from when I worked down there – straight out of the Jess Phillips school of being elected solely through women only shortlists into a constituency where Labour couldn’t lose – if she had an original thought her head would explode.
Yes. Yes, they do. They haven’t the faintest idea about real life.
“I wonder what will happen to the “partners” when John Lewis goes tits up.”
If they really were partners, they’d be screwed. (Properly screwed: goodbye house, goodbye car…) But they’ll magically turn into employees when the excrement meets the air conditioning.
How did idiots like this get elected:
Coaxing a cat in the street could become a criminal offence under proposed legislation.
Anyone who attempts to “induce” a cat to accompany them risks falling foul of the Pet Abduction Bill, which is making its way through Parliament.
The proposed new law, which is supported by the Government, would make abducting a cat or dog punishable by up to five years in prison, a fine or both.
Int. British prison, 2025
Lag #1 – What you in here for then?
Lag #2 – Aggravated “psss psss psss” to a cat
Well, they are preferential creditors, up to a certain point. Not sure about extra redundancy pay or pay for directors.
If there’s no money, the government forks out for redundancy, but only up to statutory minimum amounts. (At least, that was the case when it happened to me 25 years ago.)
The Body Shop, eh?
Couldn’t happen to a nicer group of fatuous, virtue-signalling twats. They used to periodically make asinine statements about phasing out petroleum-based products, and moving away from a fossil-fueled lifestyle. I always thought it was the height of buffoonery to make your living selling unnecessary (but high-margin) products to people who could only afford them out of the wealth that fossil fuels provide, and then turn around and grandstand against hydrocarbons.
Salt the fucking earth.
Not that I agree with her, but it appears to me that her point was to protect the jobs, not redundancy pay. Keep them employed regardless of the losses.
Different sort of bollocks – if you’re a goodie you can’t end anybody’s job.