Luke Johnson, Channel 4 Chairman and serial entrepreneur, is said to be in talks with FishWorks about buying the company after its rapid expansion of nine new restaurants in six months and the closure of a Harvey Nichols concessionary site led to a profits warning in November. Two of its directors left within a space of just over a month – Executive Chairman Roy Morris in December and Finance Director Ratnesh Bagdai in January.
FishWorks floated on the Alternative Investment Market in June 2005, with a share price of 33p. It reached a high of 50p soon after and had dropped to 13.5p a share at the time of going to press.
Johnson could not comment on the rumours. However, Mark Derry, Chief Executive of Loch Fyne Restaurants, who has also been linked with the ailing brand, said there were no discussions between him and FishWorks taking place, "At the moment we're busy growing our own brand."