Lord Alan Sugar has officially invested in R Nation, the company run by Rachel Woolford, the recent winner of BBC One's The Apprentice. Woolford secured a £250,000 investment after defeating Phil Turner in the final of the show, which aired in April.
According to documents filed with Companies House, Lord Sugar's investment company, Amsvest Limited, has acquired up to 50% of R Nation's shares. In addition, Lord Sugar (Pictured with Ms. Anne Sugar) He joined as director on June 17.
Founded in 2019 and based in Luton, R Nation operates a gym in Leeds. However, the company is not yet profitable. In 2023, it reported a loss of £336,346, after a similar financial performance in 2022 when it owed £288,409. The filings indicate that most of the expenses are attributable to equipment costs.
Despite the financial challenges, Lord Sugar's investment and direct involvement could provide the support needed to steer the company towards profitability.
Earlier this year, the Sunday Times Rich List estimated Lord Alan Sugar's net worth at £1.082 billion, placing him at 159th, up from 165th the previous year. Sugar is best known for founding Amstrad, a British consumer electronics company, and made his fortune primarily through real estate investments.
While The Apprentice saw a drop of 1.2 million viewers during its launch in February this year, the show remains an important platform for aspiring entrepreneurs. The series, which has been a BBC staple since 2005, once attracted a peak viewership of 6.8 million.
Lord Sugar's recent investment in R Nation underscores its ongoing commitment to supporting emerging business talent and fostering entrepreneurial growth through The Apprentice.