Talk about chucking good money after bad. A City source says that Dragon’s Den fallen star La Willingham has the begging bowl out yet again. Over at Companies House…
The hospitality sector is already on its knees but as of a few days ago Rachel from Customer Services imposed a whole raft pf new costs on the sector which will also be feeling the effects of weakening consumer confidence. Somehow the Nightcap chain run by Sarah Willingham struggles on, but for how long?
The overdue results for Nightcap for the 65 weeks ended 29 September 2024 were finally filed at Companies House on 4 December 2025 but appear to have been signed off on 28 September. Why incur a fine for late filing? The answer is in the detail and suggests that this company may not survive the winter.
Drowning in debt NightCap (NGHT), now delisted from AIM, the bars group run by Sarah Willingham has made a Companies House Filing. No silly! Not accounts for the 15 months to September 30th 2024, they are still overdue.
Gareth Edwards was once a partner at the esteemed firm of Pinsent Masons. And he has been viewed as one of the small cap City great and good for decades. He is now chairman of Sarah Willingham’s struggling and drowning in debt bars group Nightcap (NGHT).
Sarah Willingham’s Nightcap has still not filed its accounts for the 15 months to September 30 2024- they are now three and a half weeks overdue. Far more on the ball is Bank of America director and the Brighton Councillor responsible for granting the 115 year lease of the i-360 attraction to NightCap (and writing off £51m of borrowings) in February this year, Jacob Taylor. He has replied to my email as you can see below. I really do commend the good Councillor for his full, polite and prompt response. Bravo!
Brighton Council effectively loaned the former owners of the 1-360 attraction on the seafront in woke City, £36 million and by the time it went bust a year ago, it was owed, with unpaid interest, £51 million. The loans were made when the party lead by the breast enlarger via hypnotism was in power. But the new Labour administration wrote off the entire sum as part of a deal which saw Sarah Willingham’s Nightcap pick up the 115 year lease for just £150,000.
While Nightcap (NGHT) went ever deeper into debt, its senior managers raided the tronc (the funds given to staff often on the minimum wage as tips) to pay for an all expenses luxury ski trip and an Ibiza beach holiday for themselves as I revealed on this website. Eventually the stink was so great that in June 2024 Nightcap delisted from the AIM sewer having failed to complete yet another bailout fund raise. So how is it trading? Boss Sarah Willingham can run, and has run, but, after today, cannot hide.
The last accounts from ghastly Sarah Willingham’s Nightcap (NGHT) were for the period ended December 31 2023 and showed it drowning in debt and burning cash. An AIM delisting in July and a crafty change of year end, for no apparent reason, means that we have no idea how bad things are now. But given declining consumer confidence and how Rachel from Customer Services is screwing the hospitality sector on wage costs, you can bet its grim. The rollout programme is on hold…until now.
Dragon’s Den “star” Sarah Willingham might have thought that delisting from the AIM sewer might allow the collapse of her Nightcap (NGHT) bars chain to happen on the quiet. La Willingham does not know me well.
I know that many of us nominated Sarah Willingham and Nightcap (NGHT) for numerous awards for diversity, best use of AIM and corporate governance. But neither La Willingham or her company are on any of the shortlists which have just come out this afternoon, as you can see below
I bet that Dragon’s Den “star” Sarah Willingham thought that delisting her near to bankrupt company Nightcap (NGHT) might mean that it received far less scrutiny from myself she was mistaken. In that vein it seems that if La Willingham is changing the year end. I wonder why?
It was two days ago that Nightcap (NGHT) shares were delisted from the AIM sewer so as to head off to the elephants graveyard and suffer its financial death throes away from the public gaze. But that does not mean that its narcissist boss Sarah Willingham cannot enjoy one last day of AIM sewer glory.
As the AIM Awards company of the year goes into liquidation with an enquiry into a missing £8 million very much called for, I have been emailed about the AIM Awards 2024. Get nominating! I am told:
Sarah Willingham needs to record another video for her staffers saying that folks like me who called her and Nightcap (NGHT) out are just jealous of her success or do a PR puff piece in the deadwood press saying how she makes her best management decisions while on a meditative walk. Jog on Sarah, today is a disaster. Told y’all.
My source within Nightcap (NGHT) brings me the fresh matters of concern at Sarah Willingham’s foundering NightCap (NGHT) bars chain. Hapless Nomad Allenby needs to get a grip and force the company to come clean as La Willingham tries desperately to close a £3.5 Million bailout placing.
La Willingham's business is crumbling. Nightcap will only be able to pay rent and payroll this month thanks to another bailout funding. But even that £3.5 million funding is struggling to complete. She is having to fire staff at HQ as I revealed HERE but has yet to 'fess up to the market. Her staff hate her after I revealed how money from the tronc ( tips for low paid bar staff) was used for a luxury ski trip for senior managers. So what does she do?
Any respectable company that has Allenby as its broker, Nomad or advisor should, I suggest, switch to almost any other London firm as soon as possible. Otherwise, by association, it will cease to be respectable.
