Take Over

[DomRepWanderer]

7 minutes ago, Mantra said:

I’m going Kamani Bros, Howard’s Mob and Shandong Luneng

Iles confirmed FV are still in, along with boohoo

[MalcolmW]

1 minute ago, Mr Grey said:

I'm going Lenny Henry, Judith Chalmers and Donald Trump

Aren't you mixing this up with Celebrity Deadpool?

[Moon boy]

17 minutes ago, Mounts Kipper said:

Shouldn’t Quantuma  have seen proof of funds before they chose the 3 potential buyers, seems these admin companies are a slate short of a roof to me. 

‘3 potential buyers’  Surely one is FV, they might/ might not be the highest bid, but they must be the only one who have satisfied the club administrator, so are in the box seat, the Hotel administrators are looking for the best deal for the Hotel creditors so might be pushing FV to increase the price offered, so who cracks first

If James is the largest creditor for the Hotel, and supposedly has the Club at heart, I would think he would go with FV

If this scenario is bollocks please explain

[sleepingindian]

2 minutes ago, Mr Grey said:

I'm going Lenny Henry, Judith Chalmers and Donald Trump

in that case im going jasper carrot, simon cowel, and hillery clinton

 

[sleepingindian]

1 minute ago, Moon boy said:

‘3 potential buyers’  Surely one is FV, they might/ might not be the highest bid, but they must be the only one who have satisfied the club administrator, so are in the box seat, the Hotel administrators are looking for the best deal for the Hotel creditors so might be pushing FV to increase the price offered, so who cracks first

If James is the largest creditor for the Hotel, and supposedly has the Club at heart, I would think he would go with FV

If this scenario is bollocks please explain

acording to nixon theres a buyer for hotel and its not fv but aint saying. whats that i smell bacon or bullshit

 

[RoadRunnerFan]

Basil Fawlty

Paul Robinson from Neighbours. 

Benny from Crossroads. 

[Benny The Ball]

54 minutes ago, Mounts Kipper said:

Shouldn’t Quantuma  have seen proof of funds before they chose the 3 potential buyers, seems these admin companies are a slate short of a roof to me. 

There's a lot I dont get .. 

So bids had to be in by last friday - thats 9 days ago and he has now identified he has 3 potential buyers 

What has he done this last week ? 

Surely as part of the process he will have asked for proof of funds , but why 3 , why approach  all 3 ?

If he had received 17 bids would he be talking to all 17 ? 

Surely he should  select the best one for the creditors ( thats his job )  and be done with it - or does it now become an auction ? 

Or is this going to be done on the lines of some reality TV show ?

Do two  get selected to go through to a head to head   where they produce a sample menu , bake a selection of cakes , and redesign the interior of a bedroom ?

Its an utter shambles 

To think the future of our Football club is in the hands of these people 

If anyone can explain to me why he is talking to all 3 bidders at this stage please do 

 

 

 

[Escobarp]

6 minutes ago, Benny The Ball said:

There's a lot I dont get .. 

So bids had to be in by last friday - thats 9 days ago and he has now identified he has 3 potential buyers 

What has he done this last week ? 

Surely as part of the process he will have asked for proof of funds , but why 3 , why approach  all 3 ?

If he had received 17 bids would he be talking to all 17 ? 

Surely he should  select the best one for the creditors ( thats his job )  and be done with it - or does it now become an auction ? 

Or is this going to be done on the lines of some reality TV show ?

Do two  get selected to go through to a head to head   where they produce a sample menu , bake a selection of cakes , and redesign the interior of a bedroom ?

Its an utter shambles 

To think the future of our Football club is in the hands of these people 

If anyone can explain to me why he is talking to all 3 bidders at this stage please do 

 

 

 

This isn’t how it works Benny. 

They will have seen proof of funding and various things in addition to confirm to them that they are credible. 

Now what they have to do is go back to the 3 bidders for precise timescales and don’t forget when each bid for the hotel (apart from FV) they will have expected the club to be out of admin. So effectively the admins will be asking the other two are you willing and able to complete without the club being out of admin. 

You’re a very bright guy from what I can tell and I’m just as annoyed as you but they are following a process. This really is a seriously complex task and I’m not making excuses for them 

IMO same admin should have done both. The conflict that they say they were avoiding by appointing separate admins has done the opposite and created a conflict and the two are inextricably linked. 

Hope that clarifies if not pm me as I’m sure folk are bored of my ranting 

[Damocles]

6 minutes ago, Benny The Ball said:

There's a lot I dont get .. 

So bids had to be in by last friday - thats 9 days ago and he has now identified he has 3 potential buyers 

What has he done this last week ? 

Surely as part of the process he will have asked for proof of funds , but why 3 , why approach  all 3 ?

If he had received 17 bids would he be talking to all 17 ? 

Surely he should  select the best one for the creditors ( thats his job )  and be done with it - or does it now become an auction ? 

Or is this going to be done on the lines of some reality TV show ?

Do two  get selected to go through to a head to head   where they produce a sample menu , bake a selection of cakes , and redesign the interior of a bedroom ?

Its an utter shambles 

To think the future of our Football club is in the hands of these people 

If anyone can explain to me why he is talking to all 3 bidders at this stage please do 

 

 

 

Because, a proper administration process wouldn’t rule anybody in/out until absolutely necessary surely? I suspect their preferred bidder will have been given ‘x’ amount of days to deliver the funds they committed to up front, if they do not then it falls to the next best bid. 

I would be highly surprised if the FV bid was the ‘best’ bid, given that it is probably not much over £5.5M and whatever amount is bid over the PBP debt will be staggered.

 

[Damocles]

And my 3 are: 

FV 

Boohoo 

Endell Group

 

[Benny The Ball]

Just now, Escobarp said:

This isn’t how it works Benny. 

They will have seen proof of funding and various things in addition to confirm to them that they are credible. 

Now what they have to do is go back to the 3 bidders for precise timescales and don’t forget when each bid for the hotel (apart from FV) they will have expected the club to be out of admin. So effectively the admins will be asking the other two are you willing and able to complete without the club being out of admin. 

You’re a very bright guy from what I can tell and I’m just as annoyed as you but they are following a process. This really is a seriously complex task and I’m not making excuses for them 

IMO same admin should have done both. The conflict that they say they were avoiding by appointing separate admins has done the opposite and created a conflict and the two are inextricably linked. 

Hope that clarifies if not pm me as I’m sure folk are bored of my ranting 

 

Just now, Damocles said:

Because, a proper administration process wouldn’t rule anybody in/out until absolutely necessary surely? I suspect their preferred bidder will have been given ‘x’ amount of days to deliver the funds they committed to up front, if they do not then it falls to the next best bid. 

I would be highly surprised if the FV bid was the ‘best’ bid, given that it is probably not much over £5.5M and whatever amount is bid over the PBP debt will be staggered.

 

Thanks , I have been aware of the conflict situation from day one and have mentioned it myself on several occasions ,  I do have a reasonable Idea how the process works - but not when you have multiple bidders  

My surprise is that he talks to all 3 , If there is clearly a better bid , then surely he approaches that bidder and tries to finalise a deal with them, whilst keeping the others interested  ,  and If the  best bidder pulls out he moves down the line ? 

Its the fact he is saying he is talking to all 3 that makes me question how this is proceeding and whether or not he is effectively reopening the bidding process again or giving the opportunity for that to happen  and thereby prolonging the process 

 

[Mounts Kipper]

57 minutes ago, sleepingindian said:

acording to nixon theres a buyer for hotel and its not fv but aint saying. whats that i smell bacon or bullshit

 

Well we should know something later today if Iles tweet is true, if FV aren’t getting hotel it’s a whole new ball game, Nixon thinks they won’t so it could be an interesting day. 

[Wanderlust]

As the hotel appears to be inextricably linked to the success of the club and possibly vice versa is it not the case that unless the buyers of the hotel also have the finances and a plan to take on the club we are f****d?

[Sluffy]

25 minutes ago, Damocles said:

And my 3 are: 

FV 

Boohoo 

Endell Group

Hope you aren't referring to Endell Group Holdings - (re Travelodge) - if so - Liquidated in 2014

https://beta.companieshouse.gov.uk/company/05893851/filing-history

 

[anthonyj]

15 love - Sluffy

[Cheese]

My preferred owner would obviously be Sheikh Azit Bin Dun, although Sultan Azit Eck-Bindunyet seems determined to block that deal. 

[Sluffy]

40 minutes ago, anthonyj said:

15 love - Sluffy

Haha.

I wasn't however meaning to be in anyway disrespectful to Damocles/Howard/JME19742 or whoever - he is far more knowledgeable and informed about Mergers and Acquisitions (M&A's) than I, just that I had a little look to find out who were the Endell Group and discovered that the company I located (which was previous named Travelodge Limited) had been liquidated in 2014.

It made sense to me that whoever owns Travelodge UK now be interested in the Bolton Whites Hotel.

No doubt there is a controlling company in existence for Travelodge UK but it doesn't appear to be the one initially mentioned above as far as I can understand things.

 

Edited August 18, 2019 by Sluffy
Grammar errors

[Mantra]

Wonder what this Quantuma statement will be saying if they’re choosing to not announced a preferred bidder. Hosking has already told Iles they have 3 bidders, hope they have more light to shed than just that.

Edited August 18, 2019 by Mantra

[Wanderlust]

The dissolved "Endell Group" involved an organisation called Swift Incorporations Ltd - who are also active in...

Endell Developments Ltd

Endell Properties Ltd

and Endell Real Estate Ltd

..all of whom are still going concerns - technically.

They all file as small companies and each is linked to a network of other small and dissolved companies.

At first glance they look like vehicle companies as there's little trading activity and next to bugger all dosh.

 

 

[Sluffy]

Thought I'd had this to the debate, Iles comment from his article today - 

"Whether Football Ventures, Ken Anderson, Michael James, Eddie Davies’s Trust – governed by solicitor Keir Gordon – or two sets of administrators, nobody is blameless as this mess continues to jeopardise the future of a 145-year-old institution.

Much of the mistrust which has slowed every decision pre-dates administration. The levels of downright greed outweighed only by each protagonist’s desire to maintain their public image".

https://www.theboltonnews.co.uk/sport/17844789.tranmere-rovers-5-bolton-wanderers-0-marc-iless-match-verdict/

Lets take as a given Ken is one of the 'greedy' protagonists, then who else is he calling out?

Not the Administrators as he says he predates Administration which leaves FV, EDT and/or Michael James.

I hardly think EDT can be seen to be greedy, they've already written off over £200m on the club, which would then leave just FV and/or MJ?

What is he trying to say - and what would happen to the club if one or both walked away now instead?

 

[Mounts Kipper]

13 minutes ago, Sluffy said:

Thought I'd had this to the debate, Iles comment from his article today - 

"Whether Football Ventures, Ken Anderson, Michael James, Eddie Davies’s Trust – governed by solicitor Keir Gordon – or two sets of administrators, nobody is blameless as this mess continues to jeopardise the future of a 145-year-old institution.

Much of the mistrust which has slowed every decision pre-dates administration. The levels of downright greed outweighed only by each protagonist’s desire to maintain their public image".

https://www.theboltonnews.co.uk/sport/17844789.tranmere-rovers-5-bolton-wanderers-0-marc-iless-match-verdict/

Lets take as a given Ken is one of the 'greedy' protagonists, then who else is he calling out?

Not the Administrators as he says he predates Administration which leaves FV, EDT and/or Michael James.

I hardly think EDT can be seen to be greedy, they've already written off over £200m on the club, which would then leave just FV and/or MJ?

What is he trying to say - and what would happen to the club if one or both walked away now instead?

 

Wouldn’t say MJ been greedy either,  leaves just FV. 

Edited August 18, 2019 by Mounts Kipper

[anthonyj]

17 minutes ago, Hoppy510 said:

The dissolved "Endell Group" involved an organisation called Swift Incorporations Ltd - who are also active in...

Endell Developments Ltd

Endell Properties Ltd

and Endell Real Estate Ltd

..all of whom are still going concerns - technically.

They all file as small companies and each is linked to a network of other small and dissolved companies.

At first glance they look like vehicle companies as there's little trading activity and next to bugger all dosh.

 

 

15 all

[Benny The Ball]

18 minutes ago, Hoppy510 said:

The dissolved "Endell Group" involved an organisation called Swift Incorporations Ltd - who are also active in...

Endell Developments Ltd

Endell Properties Ltd

and Endell Real Estate Ltd

..all of whom are still going concerns - technically.

They all file as small companies and each is linked to a network of other small and dissolved companies.

At first glance they look like vehicle companies as there's little trading activity and next to bugger all dosh.

 

 

Swift Incorporations are a company formation agent - found on documents when you buy a company "off the shelf " 

 

[Sluffy]

11 minutes ago, Hoppy510 said:

The dissolved "Endell Group" involved an organisation called Swift Incorporations Ltd - who are also active in...

Endell Developments Ltd

Endell Properties Ltd

and Endell Real Estate Ltd

..all of whom are still going concerns - technically.

They all file as small companies and each is linked to a network of other small and dissolved companies.

At first glance they look like vehicle companies as there's little trading activity and next to bugger all dosh.

Swift Incorporations are clearly a business that 'sets up' companies for others - 1,688 of them at the last count -

https://beta.companieshouse.gov.uk/officers/ECUndNb3s10X5w6_CrlbMJhJDN0/appointments

Endell Properties are shown to have of £1,659.8m investments in their March 2018 accounts.

https://beta.companieshouse.gov.uk/company/06434799/filing-history

I suggest your research is somewhat incomplete and misleading.

[Super Bock]

1 hour ago, Sluffy said:

Haha.

I wasn't however meaning to be in anyway disrespectful to Damocles/Howard/JME19742 or whoever - he is far more knowledgeable and informed about Mergers and Acquisitions (M&A's) than I, just that I had a little look to find out who were the Endell Group and discovered that the company I located (which was previous named Travelodge Limited) had been liquidated in 2014.

It made sense to me that whoever owns Travelodge UK now be interested in the Bolton Whites Hotel.

No doubt there is a controlling company in existence for Travelodge UK but it doesn't appear to be the one initially mentioned above as far as I can understand things.

 

Travelodge have a long standing requirement for a hotel at Middlebrook, however they very rarely buy hotels since they refinanced, instead they prefer the leasehold model with terms of between 25-30 years with the landlord paying all fitout related costs.

I imagine it would be fairly simple for a developer/fund to acquire the hotel with a pre-let in place to Travelodge and then sell it on for a reasonable profit.

Travelodge will typically pay around 5k-7k per room per annum in rent, but this varies depending on the demographics, local competition, parking and overall quality of the hotel.

The more rooms they acquire the more they can pay in rent as they benefit from economies of scale on their day to day running costs.

The only other hotel operator that accepts leasehold terms is Premier Inn (Whitbread) and they are already on Middlebrook. So I actually think the hotel could become a Travelodge.