| tomorrow can't come quick enough 14:17 - Oct 16 with 2310505 views | batman |
Not for us, but for Bury.
i was credit checking a potential customer and decided to nosey onto
BFC's file and was (or maybe not) supprised to see a new CCJ for circa £22k lodged
only Wednesday this week.
looks like they are in need of a bumper crowd tomorrow to settle some bills |  | | |  |
| tomorrow can't come quick enough on 06:42 - Jun 6 with 7641 views | Cleedale |
| tomorrow can't come quick enough on 00:18 - Jun 6 by James1980 |
The good folk of Brighton and Hove now get retail therapy amongst other places at the Goldstone Retail Park since the football club moved from the site in the late 90s. Is it a totally wild idea that, in the not too distant future. There will be a Gigg Lane Retail Park? |
Retail Parks, as such, are all but finished - except if they almost entirely cater for t'internet age - that has been my understanding for a few years now.
Just look at town centres and closed stores/shops...everywhere...possibly even in Brighton. In work have seen/heard of whole retail parks being shelved as the way these markets operate 'now' is changing rapidly and/or uncertain.
Obv. one hell of a lot more money in certain areas of the country but heard of a shop...just a standard shop on your average UK street...around here...where business rates/rent would be £1K per week. That's before turning a light on, upgrading the interior, employing anyone or paying a wage/stock purchases.
Makes you wonder doesn't it? | | | |
| tomorrow can't come quick enough on 07:58 - Jun 6 with 7489 views | RAFCBLUE |
| tomorrow can't come quick enough on 21:26 - Jun 5 by judd |
The Loan co will be looking to have their say in the repaying of debt. They will have to pay the administrators fees so will seek to appoint their own choice rather than one appointed by Dale. (Grizzly, not Roch). They would also seek to appoint before the Court does. It still needs to prove that there is a potentially profitable business going forward, that will necessitate significant cost cutting for this lot, and a CVA will have to be agreed, which could still lead to a winding up order if either one isn't agreed or if a creditor decides to pursue one after the period of administration is over (think it's 12 months). Or summat. RAFCBLUE is the man to fine tune my clumsiness |
The most comprehensive guide I can provide is here:
https://www.companyrescue.co.uk/guides-knowledge/guides/putting-a-company-into-a
It's a sensible strategy if you are a bury fan:
1) Get an administrator appointed who stops Steve Dale running the club day-to-day and pause all legal actions.
2) Get the largest secured creditors onside - they will need to agree the appointment.
3) Enter admin and wipe off all the unsecured debts taking a -12 penalty.
4) Try and find a buyer to take it out of admin.
There are some significant risks:
1) The secured charge owner doesn't want to play ball and just takes the assets (the ground). bury fc are effectively homeless at that point. The best they can hope for is to be a tenant.
2) The Mederco Limited creditor of £4.2m may rear its head as secured but paperwork not filed. That will make them the biggest secured creditor.
3) They aren't in administration before 19th June so are wound up at court; HMRC count as unsecured so will not want an administration.
4) A buyer needs to be found promptly - and that might still be Steve Dale. |  |
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| tomorrow can't come quick enough on 08:05 - Jun 6 with 7476 views | judd |
| tomorrow can't come quick enough on 22:49 - Jun 5 by VivaDonaldo |
But aren't bridging finance the 2nd charge holder on Gigg Lane, with Moneything being the primary?
Or was that satisfied at some point? |
Moneything had 2 charges satisfied in September 2018. The only outstanding charges are the 3 listed by 49th Season. |  |
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| tomorrow can't come quick enough on 08:16 - Jun 6 with 7456 views | James1980 |
| tomorrow can't come quick enough on 06:42 - Jun 6 by Cleedale |
Retail Parks, as such, are all but finished - except if they almost entirely cater for t'internet age - that has been my understanding for a few years now.
Just look at town centres and closed stores/shops...everywhere...possibly even in Brighton. In work have seen/heard of whole retail parks being shelved as the way these markets operate 'now' is changing rapidly and/or uncertain.
Obv. one hell of a lot more money in certain areas of the country but heard of a shop...just a standard shop on your average UK street...around here...where business rates/rent would be £1K per week. That's before turning a light on, upgrading the interior, employing anyone or paying a wage/stock purchases.
Makes you wonder doesn't it? |
Yes of course. Houses and or flats perhaps? Wouldn't wish that on them though | |
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| tomorrow can't come quick enough on 08:32 - Jun 6 with 7401 views | dingdangblue |
| tomorrow can't come quick enough on 08:16 - Jun 6 by James1980 |
Yes of course. Houses and or flats perhaps? Wouldn't wish that on them though |
Student accommodation is all the rage these days. |  |
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| tomorrow can't come quick enough on 08:58 - Jun 6 with 7357 views | James1980 |
| tomorrow can't come quick enough on 08:32 - Jun 6 by dingdangblue |
Student accommodation is all the rage these days. |
Now who is involved in that line??? | |
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| tomorrow can't come quick enough on 10:03 - Jun 6 with 7235 views | aleanddale |
| tomorrow can't come quick enough on 03:44 - Jun 6 by Sandyman |
That's one option. Housing would be more lucrative.
"Misleading Estates Ltd bring you this world famous, historic, prestigious collection of beautiful new homes for property-seekers to bankrupt themselves on.The development is located in Giggle, a village in the beautiful town of Bucket. Why not call in and view our stunning 4 bedroom SD1 and SD2 Showhomes to get a glimpse of the lifestyle that could be in store for you at Administration Avenue, Debt Drive, Cheats Close, Bucket Boulevard, Welch Way, WowWowWow Walk, Revolution Road, Milky Bar Mall and Screwed Street. Spend way more than you can or will ever be able to afford to make your dreams come true. Run up crazy credit at the nearby "Neverourfault" shopping centre. Drown your debt laden misery at the brand new "Stewart and Steve" pub.Who cares if the bailiffs call, you will "Enjoy The Ride"© |
Very good.
Nobody knows how this will end as FB cannot do anything until SD2 agrees to a sale.
"We must live within our means" have all the contracted players been made available for transfer?.
DEEDS NOT WORDS.
Lets see how they plan to do this.
Now the route to Admin is "underway" will bury post a retained list and post the 2018 financial results? [Post edited 6 Jun 2019 10:05]
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| tomorrow can't come quick enough on 10:11 - Jun 6 with 7207 views | RAFCBLUE |
| tomorrow can't come quick enough on 10:03 - Jun 6 by aleanddale |
Very good.
Nobody knows how this will end as FB cannot do anything until SD2 agrees to a sale.
"We must live within our means" have all the contracted players been made available for transfer?.
DEEDS NOT WORDS.
Lets see how they plan to do this.
Now the route to Admin is "underway" will bury post a retained list and post the 2018 financial results? [Post edited 6 Jun 2019 10:05]
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https://www.burytimes.co.uk/news/17687003.bury-fc-fans-trust-to-apply-for-club-t
Except that Giffard admits openly in the Bury Times it is one ploy to attempt force Dale’s hand and that although they are preparing the order they are still prepared to pull it IF a sale can be agreed.
That brings the 19th June winding up petition back into play and £277k to be found to pay HMRC.
It accepts they may be liquidated on the 19th June for the first time in the public domain.
If Giffard vs Dale is a game of who blinks first, my money is on Dale. [Post edited 6 Jun 2019 10:21]
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| tomorrow can't come quick enough on 10:59 - Jun 6 with 7106 views | dingdangblue |
| tomorrow can't come quick enough on 10:11 - Jun 6 by RAFCBLUE |
https://www.burytimes.co.uk/news/17687003.bury-fc-fans-trust-to-apply-for-club-t
Except that Giffard admits openly in the Bury Times it is one ploy to attempt force Dale’s hand and that although they are preparing the order they are still prepared to pull it IF a sale can be agreed.
That brings the 19th June winding up petition back into play and £277k to be found to pay HMRC.
It accepts they may be liquidated on the 19th June for the first time in the public domain.
If Giffard vs Dale is a game of who blinks first, my money is on Dale. [Post edited 6 Jun 2019 10:21]
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Can't Capital loans force administration thus removing Dale from owning bury?
That's how they see it on the bury message board. | |
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| tomorrow can't come quick enough on 12:10 - Jun 6 with 6961 views | kel |
I see John has had another of his LOOK AT ME, I DO LOADS FOR NO THANKS, I’M SO IMPORTANT AND I HAVE A BUSINESS TO RUN AND A FAMILY rants this morning.
What a cock that bloke is. |  | | |
| tomorrow can't come quick enough on 13:43 - Jun 6 with 6769 views | judd |
| tomorrow can't come quick enough on 10:11 - Jun 6 by RAFCBLUE |
https://www.burytimes.co.uk/news/17687003.bury-fc-fans-trust-to-apply-for-club-t
Except that Giffard admits openly in the Bury Times it is one ploy to attempt force Dale’s hand and that although they are preparing the order they are still prepared to pull it IF a sale can be agreed.
That brings the 19th June winding up petition back into play and £277k to be found to pay HMRC.
It accepts they may be liquidated on the 19th June for the first time in the public domain.
If Giffard vs Dale is a game of who blinks first, my money is on Dale. [Post edited 6 Jun 2019 10:21]
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How can Forever Buried prepare the order?
Surely it has to be a Director or a floating charge holder? | |
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| tomorrow can't come quick enough on 16:53 - Jun 6 with 6511 views | Thacks_Rabbits |
Maynard, stokes and mayor apparently leaving the rapidly sinking hms Gigg for Plymouth according to Beardyman.
It’s not so much a released list they need there but a who nobody else wants who is under contract and willing to sit it out list they will be releasing circa June 18th!!! |  |
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| tomorrow can't come quick enough on 17:46 - Jun 6 with 6390 views | RAFCBLUE |
| tomorrow can't come quick enough on 10:59 - Jun 6 by dingdangblue |
Can't Capital loans force administration thus removing Dale from owning bury?
That's how they see it on the bury message board. |
Can capital loans force administration?
Possibly. Much will depend on how much they are owed, if they are paid up to date and the terms of the agreement.
They'll be one of bury’s biggest creditors so if administration happened they'd have a say in supporting what happens next.
Does administration prevent Steve Dale from owing bury?
Not at all. Dale owns bury until he sells his shares but administration would see him lose day-to-day control of the running of the club. And the administrators have a duty to run the company in the interests of creditors and shareholders - NOT fans.
This is where bury are stuffed for me. No one will put in money into bury until Dale agrees to sell his shares. There isn't anything to pay creditors. | |
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| tomorrow can't come quick enough on 17:51 - Jun 6 with 6372 views | RAFCBLUE |
| tomorrow can't come quick enough on 13:43 - Jun 6 by judd |
How can Forever Buried prepare the order?
Surely it has to be a Director or a floating charge holder? |
They can't but they are colluding with the company behind the mortgage to do so.
Pressure building activity on Steve Dale - it won't work.
He’ll rip their proverbial heads off. | |
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| tomorrow can't come quick enough on 18:16 - Jun 6 with 6293 views | kel |
Frig me, is everybody who releases statements to do with bury illiterate or summat? Looks like it’s been written by a 5 year old. | | | |
| tomorrow can't come quick enough on 18:36 - Jun 6 with 6224 views | ColDale |
Says to.me that he's not sitting back and idly accepting this FB admin plan. There may be trouble ahead... |  | | |
| tomorrow can't come quick enough on 18:36 - Jun 6 with 6223 views | 442Dale |
Wasn’t McCarthy a director? Strange statement for a board member leaving. |  |
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| tomorrow can't come quick enough on 18:55 - Jun 6 with 6140 views | aleanddale |
| tomorrow can't come quick enough on 18:36 - Jun 6 by ColDale |
Says to.me that he's not sitting back and idly accepting this FB admin plan. There may be trouble ahead... |
There is no way SD2 will lie down and be run out of town, Not easily at any rate.
Trouble ahead could be a massive understatement.
How about the following as a conspiracy without prejudice.
SD2 has all the season ticket money and the EFL payment they requested.
SD2 is sat on £150k for the compo for the manager Ryan Lowe.
Out of spite he pays HMRC and Brass later this month just so he is able to buy more time to kick the can as far as he can down the road.
I suspect that this scenario will be if SD2 feels he can asset strip more from the club.
Who he appoints as manager could be a big clue but who the hell would want to take on this poisoned chalice?. | | | |
| tomorrow can't come quick enough on 19:00 - Jun 6 with 6112 views | RAFCBLUE |
| tomorrow can't come quick enough on 18:36 - Jun 6 by ColDale |
Says to.me that he's not sitting back and idly accepting this FB admin plan. There may be trouble ahead... |
Why would you or should you sit back as an owner?
Steve Dale has the share capital and so calls the shots.
The deviousness of the obvious plotting against him is never going to be popular.
Forever bury effectively have declared war against their owner.
In their saving of the club in 2002, the owner if the time desired help.
Dale hasn't asked them for anything.
In the meantime the world fights Steve Dale. Fights never end well. | |
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| tomorrow can't come quick enough on 19:13 - Jun 6 with 6031 views | RAFCBLUE |
| tomorrow can't come quick enough on 18:55 - Jun 6 by aleanddale |
There is no way SD2 will lie down and be run out of town, Not easily at any rate.
Trouble ahead could be a massive understatement.
How about the following as a conspiracy without prejudice.
SD2 has all the season ticket money and the EFL payment they requested.
SD2 is sat on £150k for the compo for the manager Ryan Lowe.
Out of spite he pays HMRC and Brass later this month just so he is able to buy more time to kick the can as far as he can down the road.
I suspect that this scenario will be if SD2 feels he can asset strip more from the club.
Who he appoints as manager could be a big clue but who the hell would want to take on this poisoned chalice?. |
Exactly this.
If you are going to asset strip something you need time.
HMRC can be paid in full on 19th June for the £277k coming from £127k of season ticket sales plus £150k from Plymouth for Ryan Lowe and Steven Schumacher.
This is no cost to Steve Dale.
Paying it off would given him at least three months grace and breathing space.
That would get him to August when the season starts.
The EFL would look down the barrel of kicking bury out but couldn’t. SD2 would be able to put a business plan in that said they go to May 2020.
In the meantime you'd then expect:
* Lucrative cash on the gate friendlies
* Minimal recruitment
* Cost cutting at every turn
* Get to August and see what was there.
This escapade has cost Dale £1 plus his time.
He's going nowhere unless the High Court liquidates them. [Post edited 6 Jun 2019 19:17]
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| tomorrow can't come quick enough on 19:14 - Jun 6 with 6019 views | 49thseason |
Its a theory but only one of dozens of potential ways this will pan out, the trouble is all of them have the same ending. Dale is picking over the carcass, he has no real interest in football and will not be appointing a new manager and therefore not employing any players. he may not even want the ground although you might think he will be trying to get the creditors off his back with promises of payments or even "just take the stadium". He owns the Bury FC name, He owns the trophy cabinet and if need be he will sell the kitchens, the seats, the lights, the turf, the bar fittings, the pie stalls, the kits,the corner flags, the balls and just about everything else that is worth anything to anyone. He may not make a Million but he will be well rewarded for a few months doing very little. |  | | |
| tomorrow can't come quick enough on 19:16 - Jun 6 with 5993 views | judd |
| tomorrow can't come quick enough on 19:13 - Jun 6 by RAFCBLUE |
Exactly this.
If you are going to asset strip something you need time.
HMRC can be paid in full on 19th June for the £277k coming from £127k of season ticket sales plus £150k from Plymouth for Ryan Lowe and Steven Schumacher.
This is no cost to Steve Dale.
Paying it off would given him at least three months grace and breathing space.
That would get him to August when the season starts.
The EFL would look down the barrel of kicking bury out but couldn’t. SD2 would be able to put a business plan in that said they go to May 2020.
In the meantime you'd then expect:
* Lucrative cash on the gate friendlies
* Minimal recruitment
* Cost cutting at every turn
* Get to August and see what was there.
This escapade has cost Dale £1 plus his time.
He's going nowhere unless the High Court liquidates them. [Post edited 6 Jun 2019 19:17]
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Didn't Grizzly recently state the HMRC debt was c. £800k? | |
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| tomorrow can't come quick enough on 19:25 - Jun 6 with 5952 views | RAFCBLUE |
| tomorrow can't come quick enough on 19:16 - Jun 6 by judd |
Didn't Grizzly recently state the HMRC debt was c. £800k? |
Yes. They owe HMRC at least £1m of VAT comprising:
£277k relating to a trading period as included in the winding up petition.
£605k relating to disputed VAT on the car park spaces sale.
Plus VAT since. | |
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| tomorrow can't come quick enough on 19:29 - Jun 6 with 5919 views | judd |
| tomorrow can't come quick enough on 19:25 - Jun 6 by RAFCBLUE |
Yes. They owe HMRC at least £1m of VAT comprising:
£277k relating to a trading period as included in the winding up petition.
£605k relating to disputed VAT on the car park spaces sale.
Plus VAT since. |
No PAYE then? Of course not. No wages paid. Without prejudice. | |
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