Business Services Industry
Virgin Empire Sees Heavy Losses after Sept. 11.
Knight Ridder/Tribune Business News, June, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Jun. 8--September 11 and its aftermath triggered heavy losses for Sir Richard Branson's Virgin empire, which includes a stake in airline Virgin Atlantic.
Branson's Barfair Holdings company lost almost UKpound 100 million in a year, according to accounts filed at Companies House.
Barfair is the ultimate parent of several Branson businesses, including his music stores, soft drinks, bridal shops, Necker Island in the Caribbean and investment business Virgin Management.
VM had the largest loss with a gross deficit of UKpound 128.5 million from sales of UKpound 16.1 million in the year to January 2002. Branson companies often file accounts well after their reporting period....
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