More NewsCobra hires Grant Thornton for £4.5m Indian expansion

Cobra hires Grant Thornton for £4.5m Indian expansion

Beer company’s fundraising drive starts just five months after pre-pack administration

Cobra Beer founder Lord Bilimoria has hired Grant Thornton to raise £4.5m for
the company’s expansion into India, just five months after going through a
pre-pack administration.

Neither the British or Indian sides of the business have yet made profit, but
the company feels there is enormous untapped potential in the Indian beer
market. Grant Thornton will attempt to bring in the money to purchase a brewery
in the country and develop the brand there.

It has predicted that company turnover in the Indian market will grow to £20m
within four years.

Cobra was placed in administration back in May, owing creditors £70m and
immediately sold to a joint venture involving Bilimoria and Molson Coors.

Last month, Bilimoria promised to repay millions to creditors who lost out
due to the administration, reported
The
Times
.

Further reading:

Cobra
sold to Molson Coors through PwC pre-pack

Related Articles

Amazon UK halves its corporation tax bill despite increased turnover

More News Amazon UK halves its corporation tax bill despite increased turnover

4m Alia Shoaib, Reporter
Increase in UK business confidence despite Brexit, according to ICAEW

More News Increase in UK business confidence despite Brexit, according to ICAEW

7m Alia Shoaib, Reporter
Live blog: Spring Budget 2017

Corporate Tax Live blog: Spring Budget 2017

9m Accountancy Age editorial
The Curious Incident of the Insolvency Sector in the Light of Economic Turbulence

Insolvency The Curious Incident of the Insolvency Sector in the Light of Economic Turbulence

11m Accountancy Age editorial
Leonard Curtis called in as administrators for builders Boshers

Legal Leonard Curtis called in as administrators for builders Boshers

11m Stephanie Wix, Writer
New Year Honours of 2017

Accounting Standards New Year Honours of 2017

11m Stephanie Wix, Writer
"Not enough time" to implement MTD by 2018, says Tyrie

Corporate Tax "Not enough time" to implement MTD by 2018, says Tyrie

1y Stephanie Wix, Writer
Colin: A spoonful of investment...

Governance Colin: A spoonful of investment...

1y Stephanie Wix, Writer