Concierge firm co-founded by Queen’s nephew reports loss despite cost cuts
Share:
Sir Ben Elliot’s Quintessentially says there is ‘material uncertainty’ over ability to operate beyond the next year. Quintessentially, the luxury concierge service for the super-wealthy co-founded by Queen Camilla’s nephew Sir Ben Elliot, has reported a £2.1m loss despite cutting jobs and buying extra time to repay £15m worth of loans.
The firm, which Elliot, a former co-chair of the Conservative party, founded in 2000, said there was still “material uncertainty” about the company’s ability to operate beyond the next year if sales slumped or it failed to get fresh funding. It came as the company reported a £2.1m loss for the year to April 2024.
It leaves a cloud over a business known for securing tables and tickets for millionaires at fully booked restaurants and events, and liaising with admissions officers at top private schools. Quintessentially has also worked with government, having reportedly been paid £1.4m by the Department for International Trade to make introductions to “attract the right high-value individual investors to the UK” between 2016 and 2020.
Accounts filed at Companies House explained that while it had enough money to continue operating for another 12 months, an unexpected slump in business, and a subsequent lack of emergency funding, could result in its failure. “This creates material uncertainty that may ultimately cast doubt about the company and the group’s ability to continue as a going concern,” it warned.
