Discussion
I can't understand the reasoning behind the latest moves at TVR.
Why would the company be put into liquidation or administration? Supplier debts can't be huge because they haven't made anything for months, I don't think there are any bank loans, redundancy payments at minimum levels won't be huge (compared to the current 'investment'), I doubt there are any outstanding tax payments due. So why?
Transferring the brand names into a new company will bring unwanted investigation (if that has happened), and if it is possible to lose more goodwill then this will do it.
Are there any other skeletons in the cupboard?
Has NS maybe had enough and just wants out?
Why would the company be put into liquidation or administration? Supplier debts can't be huge because they haven't made anything for months, I don't think there are any bank loans, redundancy payments at minimum levels won't be huge (compared to the current 'investment'), I doubt there are any outstanding tax payments due. So why?
Transferring the brand names into a new company will bring unwanted investigation (if that has happened), and if it is possible to lose more goodwill then this will do it.
Are there any other skeletons in the cupboard?
Has NS maybe had enough and just wants out?
Edited by david_s on Friday 22 December 21:45
The responsibility does not solely lie with the Russian surely, he trusted his company into the same people that nearly bankrupted PW.
The whole issue is surely one of bad management. True the Russian spits-his-dummy-out at every opportunity but that does not excuse the poor advice he has possibly been given by his advisors.
I believe the receivers were called in at 15.00 hours on Friday, but up to that time there were
managers with others from development loading computers and other assets into a silver coloured van outside the factory reception area, yet at 11.00 am DO informed certain staff that they would be returning to work as normal after the holiday period !! Its true that people have been told that they will fore-fit all salaries/wages/holiday pay due to them but what about their National Insurance contributions that I believe are only paid annually. That is without mentioning their Pension which I believe has had some of its funds initially misdirected in the past so now causing a financial loss of interest within the scheme..
Does ‘the feathering of nests’ strike a cord without having to guess what family are the vultures ?
Before ‘Ted’ decides to pull this text due to alleged legalities all of the above is well documented and can be proven.
Ed to ad, nothing wrong with the post with the exception of the names quoted, theses have been removed.
Edited by Big Al. on Saturday 23 December 11:30
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