chipsaway in administration !
Discussion
Kinda inaccurate thread title!
Myhome plc is in administration (probably an error to borrow millions in overdraft if your bank then ask you to repay it when you can't). Myhome plc has a majority shareholding in ChipsAway International, which is solvent, viable and trading. As your article identifies, the shareholding is one of the Myhome assets that is regarded as of high value (Myhome bought that shareholding for £16million less than a year ago!), and it will likely be sold to rescue Myhome or pay off its creditors.
ChipsAway may have different names on the shareholders register at the end of this story, but that's all. Franchisees will probably notice no difference in their operations (we didn't when the names changed last time).
ChipsAway is not in administration, to sum up. If I had a spare ten million or so lying around, I'd be bidding to buy it...
Tol
Myhome plc is in administration (probably an error to borrow millions in overdraft if your bank then ask you to repay it when you can't). Myhome plc has a majority shareholding in ChipsAway International, which is solvent, viable and trading. As your article identifies, the shareholding is one of the Myhome assets that is regarded as of high value (Myhome bought that shareholding for £16million less than a year ago!), and it will likely be sold to rescue Myhome or pay off its creditors.
ChipsAway may have different names on the shareholders register at the end of this story, but that's all. Franchisees will probably notice no difference in their operations (we didn't when the names changed last time).
ChipsAway is not in administration, to sum up. If I had a spare ten million or so lying around, I'd be bidding to buy it...
Tol
Long discussion on it here, with some interesting links..
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
An absolutely diabolicle time for investors and franchisees, investors have LOST everything, heres hoping the franchisees manage their way through the tough times ahead.
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
An absolutely diabolicle time for investors and franchisees, investors have LOST everything, heres hoping the franchisees manage their way through the tough times ahead.
lets see if someone stumps up the money then...may prove tough at the moment, and can they sell many more franchises to increase growth ? seems to be quite a few in leicestershire already and a good friend who owns a pdr company, says its really slowing down now in retail.its the bodyshops that are keeping them ticking over...
Gassing Station | Bodywork & Detailing | Top of Page | What's New | My Stuff