Red Letter Days

Friday, August 05, 2005 | 0 comments »


MD writes...

Some schadenfreude about the demise of Red Letter Days and it's venomous chief exec Rachel Elnaugh notorious for her comments on the BBC TV Programme "Dragon's Den" (where inventors /entrepreneurs tout their ideas to a panel of "successful" entrepreneurs).

Clearly the Red Letter Days business model is badly broken - last year they managed to lose £4.7m. This year they've lost £700k on a turnover of £17m. Total debt is £12m so things appear to have been wrong for while. How they got into this position is unclear assuming they were getting the punters money well before they pay for the punters jolly.

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