An energy supplier which advised customers to cuddle their pets to save money on heating bills paid £21 million to a company owned by its billionaire boss, while claiming £17 million in furlough support. Ovo, which announced plans last week to lay off 1,700 staff, was billed £21 million by Imagination Industries Ltd, a private holding company whose majority shareholder is the Ovo founder Stephen Fitzpatrick, to cover “brand royalty fees”. Fitzpatrick owns the brand name and logo of Ovo, which pays Imagination Industries each year to license them. Over the same period, Imagination Industries invested millions of pounds in Fitzpatrick’s other business ventures, including a flying taxi firm and a prosecco distributor, according to documents filed with Companies House in January.
Times 16th Jan 2022 read more »