EXCLUSIVE by STEVEN DOWNES
National news: the closure of a Croydon bakery chain this week was covered widely, without many reporting Ranganathan’s loss of £400,000 in shares
- Romesh Ranganathan stands to lose up to £400,000
- Staff were only informed of business’s closure by text message
- Since 2023, directors transferred £5.7m property assets to another company while £3.27m was also taken out of the business
For all the outpouring of public sympathy over the closure of a long-established Croydon business, as Coughlan’s shut the doors on their bakers’ shops for a final time on Tuesday night, the public records for the company tell a story of a business that, according to their own accountants as recently as last…