j1mgg 3,766 Posted January 16, 2014 Share Posted January 16, 2014 Soo many names I haven't seen for ages, you would think they want us to fail. Quote Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted January 16, 2014 Share Posted January 16, 2014 As soon as you run out of money i.e. can't pay the players then its dead simple you asked the players to take a pay cut and they refused so they brought it on themselves. BDO come in and get shot of big lee Cribari Perry etc and then you get the club back -25 points but still able to win the championship and your just in time to ask the mugs for the season ticket money. Sorted!"You?" "mugs?" Don't think so Quote Link to post Share on other sites More sharing options...
A.T.G 10,773 Posted January 16, 2014 Share Posted January 16, 2014 Maybe the players would become creditors? Who knows Quote Link to post Share on other sites More sharing options...
A.T.G 10,773 Posted January 16, 2014 Share Posted January 16, 2014 "You?" "mugs?" Don't think so "You?" "mugs?" Don't think so Well in BPWell in Quote Link to post Share on other sites More sharing options...
tartansmokie 36 Posted January 16, 2014 Share Posted January 16, 2014 Of course its possible but highly unlikely. More probably some of our better players being sold for a fraction of what they are worth just to get them off the wage bill. Quote Link to post Share on other sites More sharing options...
daviecooper01 826 Posted January 16, 2014 Share Posted January 16, 2014 Admin only happened the first time because Whyte shafted HMRC for PAYE.The BTC did not help matters right enough!We have NEITHER of these now.Absolutely will not happen - who could apply to put us into admin and for what reason, as others have said, we have ZERO bank debt.Yes we will have creditors, but the total amount versus total assets does not put us anywhere near insolvent.Everyone needs to calm the feck down. Quote Link to post Share on other sites More sharing options...
RockwellGers 14,712 Posted January 16, 2014 Share Posted January 16, 2014 People saying admin will happen, you don't know that. It reminds you of the situation in 2012, doesn't mean it will have the same outcome. We don't have a Craig Whyte at the club. There are tough times ahead but I have some faith in Wallace, at least him and Ally seem to be looking into every possibility and collaborating Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 Posted January 16, 2014 Share Posted January 16, 2014 STOP THIS SHIT NOW.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Quote Link to post Share on other sites More sharing options...
Helicopter Sundae 5,986 Posted January 16, 2014 Share Posted January 16, 2014 I would have thought Administration was to protect a venture from creditors....to save a business that could be turned around from going out of business by reducing/restructuring the debt and allowing it to continue with a smaller debt burden.If we have no debt/creditors then it would seem bloody unlikely to me.Future liabilities, ie utilities, rates, staff wages, player wages are cash flow issues, which I assume is why they are trying to cut costs.We are running out of cash, Stockbridge confirmed this in his post-Accounts interview.There are 2 options; reduce costs and/or increase revenue.He also stated there is a £2 million contingency facility.We still need to increase revenue, but reducing staff costs seems a good start in the restructuring to me, without any imminent need for Admin. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted January 16, 2014 Author Share Posted January 16, 2014 Admin only happened the first time because Whyte shafted HMRC for PAYE.The BTC did not help matters right enough!We have NEITHER of these now.Absolutely will not happen - who could apply to put us into admin and for what reason, as others have said, we have ZERO bank debt.Yes we will have creditors, but the total amount versus total assets does not put us anywhere near insolvent.Everyone needs to calm the feck down.You seem to be one of the few that actually understood my OP. What I was getting at is this - am I right in saying that it is IMPOSSIBLE that we could go into admin, as we have no debt, which means - no creditors, so therefore, there is no one to put us into administration? Quote Link to post Share on other sites More sharing options...
daviecooper01 826 Posted January 16, 2014 Share Posted January 16, 2014 You seem to be one of the few that actually understood my OP.What I was getting at is this - am I right in saying that it is IMPOSSIBLE that we could go into admin, as we have no debt, which means - no creditors, so therefore, there is no one to put us into administration?Well, the Board could theoretically do so. But only as a last measure to protect the business (perversely).But as I said, everyone needs to calm down. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted January 16, 2014 Author Share Posted January 16, 2014 Well, the Board could theoretically do so. But only as a last measure to protect the business (perversely).But as I said, everyone needs to calm down.If the board put us in administration, how would we ever get out of it as there would be no creditors to agree a CVA with? Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted January 16, 2014 Author Share Posted January 16, 2014 UI would have thought Administration was to protect a venture from creditors....to save a business that could be turned around from going out of business by reducing/restructuring the debt and allowing it to continue with a smaller debt burden.If we have no debt/creditors then it would seem bloody unlikely to me.Future liabilities, ie utilities, rates, staff wages, player wages are cash flow issues, which I assume is why they are trying to cut costs.We are running out of cash, Stockbridge confirmed this in his post-Accounts interview.There are 2 options; reduce costs and/or increase revenue.He also stated there is a £2 million contingency facility.We still need to increase revenue, but reducing staff costs seems a good start in the restructuring to me, without any imminent need for Admin.This is a good post that understood what I was mraning in the OP. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted January 16, 2014 Author Share Posted January 16, 2014 Meaning * Quote Link to post Share on other sites More sharing options...
MayboleLoyal_atb 3,688 Posted January 16, 2014 Share Posted January 16, 2014 Apparently we won't go into admin because we don't have any creditors. Quote Link to post Share on other sites More sharing options...
Carson's cat 744 Posted January 16, 2014 Share Posted January 16, 2014 You seem to be one of the few that actually understood my OP. What I was getting at is this - am I right in saying that it is IMPOSSIBLE that we could go into admin, as we have no debt, which means - no creditors, so therefore, there is no one to put us into administration?We may not have any significant creditors just now (although our friend Imran may think differently). However, we have a contractual liability to meet the players' wages. When the money in the bank runs out, we will no longer be able to pay the players, and that's when administration becomes a real possibility. I'd like to think that the Board would approach DK before that happened, but they may come under pressure from some shareholders to sell assets instead. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted January 16, 2014 Author Share Posted January 16, 2014 UWe may not have any significant creditors just now (although our friend Imran may think differently). However, we have a contractual liability to meet the players' wages. When the money in the bank runs out, we will no longer be able to pay the players, and that's when administration becomes a real possibility. I'd like to think that the Board would approach DK before that happened, but they may come under pressure from some shareholders to sell assets instead. Quote Link to post Share on other sites More sharing options...
bob1873 417 Posted January 16, 2014 Share Posted January 16, 2014 Even if there are no creditors?I keep hearing that we have no debt, so how could we go into administration?Yes. It's the lack of cash that kills any business so if our cash flow is 'shot' and we have spent our reserves we are in administration - or worse. What I don't understand is those board members with shares lose their investment. Can' see anyone wanting that which differes from Whyte. Quote Link to post Share on other sites More sharing options...
Rfc#1. 1,877 Posted January 16, 2014 Share Posted January 16, 2014 If we have no debt who the fuck could put us in admin?Edit. Just seen post above. Quote Link to post Share on other sites More sharing options...
wearethepeople1 3,897 Posted January 16, 2014 Share Posted January 16, 2014 If we have no debt who the fuck could put us in admin?Edit. Just seen post above.Ourselves? Dunno how it works mate tbh?!! Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted January 16, 2014 Author Share Posted January 16, 2014 CARSON, my quote is fucked. Let's hope that doesn't happen, I would like a rise in season tickets and the deadwood shipped out before even thinking of that sort of thing. As good a thing that Craig Mather done in freezing season tickets this year, it was a mistake. They should have been put up, even if it was only 10-15% Quote Link to post Share on other sites More sharing options...
GOAT 30,449 Posted January 16, 2014 Share Posted January 16, 2014 I never thought we'd go into Admin again..Today has changed my mind.This looks like an act of desperation by the board..How does it look like an act of desperation? We were told after the AGM costs would have to come down. Why is anyone surprised at this?Also this wasn't even an official offer if people stopped scaremongering and watched the news they would have seen it was simply a discussion to see how the players would feel. Nothing official was offered. Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted January 16, 2014 Share Posted January 16, 2014 Even Dave King said us going into Administration again was a possibility.That in itself should run a shiver down our spines. We are in more trouble than we think. Quote Link to post Share on other sites More sharing options...
wearethepeople1 3,897 Posted January 16, 2014 Share Posted January 16, 2014 Even Dave King said us going into Administration again was a possibility. That in itself you run a shiver down our spines. We are in more trouble than we think.Ironic that he is the very man that could end that possibility any time he wanted But as of yet hasn't bothered his are Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted January 16, 2014 Share Posted January 16, 2014 Ironic that he is the very man that could end that possibility any time he wantedBut as of yet hasn't bothered his areMaybe just maybe, he's waiting in the wings for his prediction to come true and snap up all of our club for a rock bottom price. Quote Link to post Share on other sites More sharing options...
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