The flamboyant backer of the company which has acquired the advisory businesses of The Money Portal (TMP) says its debt pile was too high to continue operating in today's market.
Peter Simon, founder and director of global fashion high street chain Monsoon Accessorize and backer of Honister Capital, says he was an investor in TMP and a "believer" in the potential of the company. But after Honister yesterday announced it had acquired the principal advisory and direct businesses of TMP, a company statement read: "Simon was an investor in TMP and is supporting the MBO because he believes in the potential of the business, but felt TMP's debt was too high to succeed in today's challenging environment." Last month, after announcing it was set to embark on a capital re...
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