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Old 23 October 2008, 11:41   #31
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I can think of several Solent based sailing schools and charter companies that went into voluntary receivership, only to be bought by effectivly the same people that went bust.

In each case they have used it as a way of wiping off their debts, I perosnally have lost from this twice as an unpaid creditor only to see the business up and running again under effectivly the same managment and ownership in weeks.

Ethics wise I think its atrocious, however the law allows limited companies to do it. Its exactly why banks and some buinesses ask directors to personally secure business loans aginast there own house.

All that aisde their is nothing to say that this is the case here.
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Old 23 October 2008, 12:02   #32
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Have read this thread with interest so thought I'd dive in . Codders clearly said it was a rumour so lets treat it as such unless anyone can definatley say its not or it is. Unfortunatley it is common for business to go under as a way to avoid debt (anyone heard about a few banks doing this ?) and lets all remember that business is there to make money and when under pressure the drive to do that can mean that morals go out the window. ( rightly or wrongly)

I do feel for employees , but life today means no job is 'safe'. I feel more for people who have handed over cash & have nothing as they have worked hard, decided to spend money on something nice ,& may get nothing. By nice I mean something they know they will enjoy using & owning, will not make any - infact will cost a load of money , but that money will/should help keep the UK marine industry going.

Hopefully the assets will be bought by someone who can make a living ( whatever that may be) by making nice RIBS.

I'm off now before I get 'flamed' or whatever the jargon is. IMHO - (at least I know what it means now) these things happen - anyone drive/ remember Rover ? , I'll also stick to real words like ' rumour' & 'shame' / 'over reaction' !
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Old 23 October 2008, 12:56   #33
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1 Codders thanks for the info
2 Jono get off your damned high horse again
3 Doug stormforce - your damned right, phoenixing is damned crime and its cost me a lot of money, just watching people walk away cutting off their debts like a limb is a real scunner, heres a question though .. if they came back and offered you more business, whilst telling you to 'charge a bit more' seeing as you lost out last time, would you do it ?
4 This thread reminds me why I like this forum so much
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Old 23 October 2008, 13:08   #34
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2 Jono get off your damned high horse again
..... why? I think spreading unsubstantiated rumour is wrong..even if you don't.

Quote:
Originally Posted by Bigmuz7 View Post
3 Doug stormforce - your damned right, phoenixing is damned crime ..:


So is "splashing" and I see that Doug lists a Leeway as one of his boats.. but I suppose you think that's fine too? Funny.. but when your affected it's a crime ..when someone else is it's "no skin off my nose" attitude time...
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.....all said whilst firmly seated on my Horse.
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Old 23 October 2008, 16:11   #35
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..... why? I think spreading unsubstantiated rumour is wrong..even if you don't.





So is "splashing" and I see that Doug lists a Leeway as one of his boats.. but I suppose you think that's fine too? Funny.. but when your affected it's a crime ..when someone else is it's "no skin off my nose" attitude time...
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.....all said whilst firmly seated on my Horse.
Judging by the lack of replies on a fast moving thread Jono .. no one else was sure where you were going with that one either .. feel free to refine your aim, perhaps dismounting might assist
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Old 23 October 2008, 16:17   #36
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..... no one else was sure where you were going with that one either ..

Jono's probably gone for his tea
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Old 23 October 2008, 16:23   #37
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Jono's probably gone for his tea
If he comes back and says he's just had steak, I'll be up all night posting
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Old 23 October 2008, 16:27   #38
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If he comes back and says he's just had steak
dat bigg borld heddid bastud az probubly et iz orse orr a coww forr iz tee wiv a jakk danyels snifta.

noww heel bee sleapin itt orf. hee orlwaiys sleaps lyke a baybee

waiks up tenn tymes a nite an shitts imself twise.

Garf
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Old 23 October 2008, 17:46   #39
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Garf Garf Garf what would we do without you?

So good they named him thrice!!!
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Old 23 October 2008, 17:51   #40
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I think spreading unsubstantiated rumour is wrong...
Hi JONO

I totally agree with you.

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I see that Doug lists a Leeway as one of his boats.. but I suppose you think that's fine too? Funny.. but when your affected it's a crime ..when someone else is it's "no skin off my nose" attitude time...
This is probably going a bit off topic and has been discussed / argued before. I donít want to re-open that case. I donít think however itís the same thing as ripping of staff, customers and suppliers that you have dealt with on a day to day basis, asked favours from, gone for many a pint with and made promises to.

Going bust intentionally and then buying your own business from the receivers and scoring for yourself, while seeing people you made promises to loose out is pretty low in my book.

However I suspect you are right, many of us judge the things that affect us and those close to us differently from things that happen too those we have never met or are unaware of.

As I said in my last post this is no reflection on Picton or it directors / owners.


HI BIGMUZ

Quote:
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3 Doug stormforce - your damned right, phoenixing is damned crime and its cost me a lot of money, just watching people walk away cutting off their debts like a limb is a real scunner, heres a question though .. if they came back and offered you more business, whilst telling you to 'charge a bit more' seeing as you lost out last time, would you do it ?
:
Well that was the promise at the time. They said ďWe will make sure none of regular suppliers/instructors loose outĒ. However that was never the case for me. They soon found new instructors/suppliers who they owed nothing to, who would work for less and would extend credit. Since then my business has grown and more recently they have come to me asking for service/charter. Our industry is small so you canít harbour grudges all your life, you just learn from experience and try not to be so naive.

So in answer to your question, YES I do now deal with them from time to time, however they donít get the same price I give to others, they donít get the favours and most importantly they donít get the referrals that would have been and will be worth tens of thousand so of pounds more than the rip off.

Oh! and of course they have to pay up front now.
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