Gwyneth Paltrow took a step back from acting to focus on launching her lifestyle brand Goop after experiencing a negative backlash following her Oscar win. The 'Sliding Doors' star won the Academy Award for Best Actress in 1999 for her role in 'Shakespeare in Love' and she's convinced it marked the start of a shift in how she was treated in the spotlight - prompting her to start working on a side project which became her successful Goop brand. During an interview on America's 'Today' show, she was asked why she chose to take a step back from acting to focus on her company, with the star replying: "I think it was probably around the time of winning the Oscar where you go from people kind of being curious about you or discovering you or rooting for you to it all being upended, and people really wanting to tear you down and take great pleasure in it.
Electricals giant AO plans to raise £40million after shares slump
06.07.2022 - 12:45 / manchestereveningnews.co.uk
An extra £40m is being sought by Bolton-headquartered AO after its share price slumped over the last two days.
Shares in the online electricals retailer have been on a downward spiral since 7am on Monday after it emerged that credit insurer Atradius had cut cover for the firm's suppliers.
Credit insurance protects suppliers against the risk of retailers collapsing before payment for goods is made, and, without this cover in place, suppliers often demand upfront payments, increasing cashflow woes.
READ MORE: Sales surge at fashion brand I Saw It First worn by Love Island hopefuls and Molly-Mae Hague
In response, AO has announced plans to launch a capital raise for new and existing shareholders, which will include placing for small retail investors, in order to boost its balance sheet.
In a statement issued to the London Stock Exchange, AO said that while it is "cash generative", the fundraise will "increase the company's liquidity back to historic levels... strengthen the balance sheet for suppliers and provide the flexibility to capitalise on market opportunities".
AO added that it continues to "rationalise, simplify and refocus its UK operations" as it looks to save around £25m by 2024-25, while setting itself a target to grow revenues by at least 10% a year.
Chief executive John Roberts said: "In addition to being a sensible piece of financial housekeeping given the short-term macroeconomic uncertainty, this capital raise will give us the necessary foundation from which to go after the significant long-term growth opportunities that we see for AO in the UK."
The firm said the "post-pandemic retail environment is substantially shifting" as some retailers are seeing the online boom experienced during lockdowns ease
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