GlassHouse Research claims the chain will suffer the same fate as WeWork.
A Napkin Outlining 13-Year-Old Lionel Messi’s First FC Barcelona Contract Is up for Auction. has a “broken business model” and “terrible accounting.” The company added that SHCO’s “persistent lack of profits and rising debt levels” have put it in a “precarious situation” that could affect its future viability.SHCO oversees chic hotels and private members’ clubs across the globe, including Soho House, the Ned, and Scorpios Beach Club.
“Soho House & Co Inc. fundamentally rejects the recent report published by GlassHouse Research, which contains factual inaccuracies, analytical errors, and false and misleading statements, all designed to adversely impact the company’s stock price for the benefit of the short-seller,” SHCO said in aSHCO added that it is confident in the strength of its business and is focused on executing its strategy.
SHCO plans to share its 2023 results on March 6. It will also issue guidance for this year, with the expectation of continued growth in. “The company also expects growth in its made-up metric adjusted EBITDA, but says nothing about free-cash-flow or GAAP EPS. So, there you have it, more years of actual losses.”Rachel Cormack is a digital editor at Robb Report.
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