{
  "id": 7757613,
  "title": "Winkworth warns on profit citing family boardroom bust-up",
  "url": "https://urgent.news/2026/09/16/winkworth-warns-on-profit-citing-family-boardroom-bust-up",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T09:20:20.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/winkworth-warns-on-profit-citing-family-boardroom-bust-up/"
  },
  "original_language": "en",
  "account": "Estate agent Winkworth has issued a profit warning for the upcoming year, attributing the decline to the costs associated with a family feud that erupted within its boardroom. The conflict has resulted in CEO Dominic Agace taking his father, former CEO Simon Agace, to court. The Aims-listed firm, which is one of the oldest estate agents in the UK and specializes in luxury properties in prestigious neighborhoods such as Pimlico, Westminster, and Notting Hill, anticipates legal fees amounting to £400,000. Shareholders have been warned that \"ongoing legal and advisory costs will cause reported profit before tax for the full year 2026 to be materially below current market expectations.\" During the six months ending 30 June 2026, Winkworth incurred £105,000 in legal and advisory fees, with an additional £376,000 accumulated between 1 July and 15 September. The figure remains uncertain and contingent upon the progression of ongoing proceedings. The profit warning follows the revelation that Winkworth had initiated High Court proceedings against Simon Agace in August for allegedly breaching confidentiality norms after attempting to remove the entire board. The accusations extended to Simon’s son, Dominic Agace, who serves as the current CEO. The dispute targeted the entire board, including Simon Agace’s son, Dominic. Simon Agace was accused of breaching provisions of his contract dating back to November 2009, as well as allegedly breaching director duties under the Companies Act, a law that governs British companies and their directors. Winkworth had temporarily halted the legal proceedings for a month, awaiting discussions between the involved parties. The case was adjourned until October 5th.",
  "summary": "London estate agent Winkworth has warned on profits for the year ahead, citing the legal costs tied to a boardroom family feud that has led its chief executive to take his father to court. The Aim-listed company, which is one of the UK’s oldest estate agents and specialises in high-end properties in boroughs like Pimlico, [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}