Register to get 5 free articles
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Struggling restaurant and nightclub operator Hakkasan gave former boss Neil Moffitt a $50m (£39m) payout last year, despite deepening financial woes.
The payout came following a difficult year for the company which saw losses of $145m in the 12 months to June 2017, the equivalent of half its annual turnover.
It saw revenue drop by 7% to $314m, with UK revenue falling significantly by 11% suffering from struggles at fine dining restaurant HKK, which has since closed down.
Coventry-born Moffitt took charge at Hakkasan in 2013 following a merger with his own Las Vegas based nightclub operator Angel Management Group, he stepped down last May. Former Hakkasan chairman Khadem al-Qubaisi was arrested in 2016 in investigations into embezzlement of funds from IMDB of Malaysia. Hakkasan says it it was not a recipient of any embezzled funds.
