Article in Sunday Express saying takeover imminent.....

Anyone any views on where we're at with the takeover, my view is that the Holdsworth deal is done deal, I think main backer is Emerson, also think the deal won't be announced until end of this season, the car park sale will tick us over until end of season, any high earners will be sold or contracts not renewed, overheads trimmed to match incomings within the next 12 months. Emerson will also pick up the middlebrook master plan and develop that over the next few years, in and around the macron will be massively changed in the next 5 years, I'm hoping the macron will be the anchor for the development in which case I feel we've a bright future once this is all ratified. That's my view, anyone have a different outlook?

Anyone any views on where we're at with the takeover, my view is that the Holdsworth deal is done deal, I think main backer is Emerson, also think the deal won't be announced until end of this season, the car park sale will tick us over until end of season, any high earners will be sold or contracts not renewed, overheads trimmed to match incomings within the next 12 months. Emerson will also pick up the middlebrook master plan and develop that over the next few years, in and around the macron will be massively changed in the next 5 years, I'm hoping the macron will be the anchor for the development in which case I feel we've a bright future once this is all ratified. That's my view, anyone have a different outlook?

Peter Jones is a cunt.

 

He stiffed Bolton when we moved so I'd be astonished if this leopard has changed his spots

At the risk of sounding like a potty mouth, I say, fuck em.

NB potty mouth. same sentence. never

Peter Jones is a cunt.

 

He stiffed Bolton when we moved so I'd be astonished if this leopard has changed his spots

That's a worry I'm hoping he's one of the players in a group of players and some might have BWFC at heart, however we need a strong supporters trust to be able to have a say.

I have many times in the past yeah but made sure other bills were paid too.

 

The difficulty in paying staff wages when you've not paid the PAYE since God knows when opens up a fuck load of problems for the directors. Not defending them but when you pay a wage you deduct PAYE and the NI and send it to hmrc. If you know full well that cash has next to fucks chance of going to hmrc because you haven't sent the last few months you collected beforehand then in the event of insolvency you're up for a fucking not just from the revenue but from any other creditor too.

 

Equally if you take back any director loans before going tits, or wangle out of personal guarantees leaving creditors up the swanny then the liquidator can claw them back.

 

So aye. There's a number of reasons why staff can't be paid and nobody else, as shit as it is.

 

behave with your facts.

 

you need to throw a hissy fit and call everyone and sundry a cunt.

Not really, he made a financial commitment to pay the running costs as they are. deciding to stop doing this half way through a season and letting staff go unpaid is appalling.

I'm not convinced that's whats happened. For a couple of years the club has been taking out large loans against its assets. You only don't that to create quick cash in desperate times. So with that I reckon ED started to shut his wallet long ago.

 

Because of that, I wouldnt be surprised if we've been in this position for a couple of years now (there was warnings in the 2014 accounts) but now there's effectively fuck all left to pawn and we've run out of options. You can't rob Peter to pay Paul forever.

 

Add in serious management failings on how bad the debt and cashflow is and it equals a swift death by a thousand cuts.

 

My view based upon a few people who have first hand knowledge of the failings is ED didn't know just how fucked up the cashflow situation was because I don't believe he would have sanctioned half the deals he apparently has this year if he knew.

 

That leaves the problem at the foot of PGs door and those involved in the finances, who simply run out of luck rolling the dices.

Edited January 21, 201610 yr by Smiffs

No I'm not having ed didn't know what was happening ,have it on good authority Davies. Was in contact with gartside frequently

I see that the company are back in court tomorrow to get the company bank account unfrozen so the proceeds from the car park sale can go through, and the staff can be paid. Other than ED going round with little brown envelopes of cash, can someone enlighten me how the staff could have been paid by him? He couldn't pay any money into the company bank account, it was frozen.

Edited January 21, 201610 yr by Gonk

Fuck off with rational comment

Is the bank account actually frozen or is this court date tomorrow just to approve the sale of the car park which is required legally once a winding up order is served so that a company doesn't flog all their assets to the detriment of other creditors.

The accounts were frozen after the hearing on Monday

 

 

 

As accounts are frozen whenever a winding-up petition is filed, Bolton will need to get permission to proceed with that property deal at Friday's hearing which could then pave the way for the sale of the car park, which is seen as critical after deals to transfer Mark Davies and Zach Clough fell through.

That would then allow them to pay both their staff and players for this month and ease their money troubles slightly ahead of another High Court date on February 22.

 

 

http://www.dailymail.co.uk/sport/football/article-3410516/Bolton-aim-sell-car-park-bid-raise-needed-funds-cash-strapped-club.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

I see that the company are back in court tomorrow to get the company bank account unfrozen so the proceeds from the car park sale can go through, and the staff can be paid. Other than ED going round with little brown envelopes of cash, can someone enlighten me how the staff could have been paid by him? He couldn't pay any money into the company bank account, it was frozen.

Is it too difficult to pay folk from a different account while the BWFC account gets unfrozen then pay the money back once the cash from the car park sale goes through? Why are folk apologizing for eddies actions?

Is it too difficult to pay folk from a different account while the BWFC account gets unfrozen then pay the money back once the cash from the car park sale goes through? Why are folk apologizing for eddies actions?

I don't think anyone is apologising Mounts

 

folk are explaining the actual conditions surrounding the situation

 

The comments to that end have been objective, not opinions on ED's ethics, motives or associated guilt in the club being where it is

I don't think anyone is apologising Mounts

 

folk are explaining the actual conditions surrounding the situation

 

The comments to that end have been objective, not opinions on ED's ethics, motives or associated guilt in the club being where it is

Gonk asks how could Eddie of paid folk if account frozen, I'm saying pay folk from different account Casino agrees with Gonk, I'm saying there is a way to pay folk, or am I reading it wrong? It has been known.????

behave with your facts.

 

you need to throw a hissy fit and call everyone and sundry a cunt.

 

You irritate me with your demeanour towards the ordinary fan. ,

Edited January 21, 201610 yr by bgoefc

I see that the company are back in court tomorrow to get the company bank account unfrozen so the proceeds from the car park sale can go through, and the staff can be paid. Other than ED going round with little brown envelopes of cash, can someone enlighten me how the staff could have been paid by him? He couldn't pay any money into the company bank account, it was frozen.

Could of been paid by the whites hotel. This happend in November.

Happen that account been frozen too -it's part of the same group

Happen that account been frozen too -it's part of the same group

Eddie got a nice fat Bernuda account he could dip in to. Maybe it's me I just expect respected businessmen to do the right thing.

Think it's probably fair to say there would be a rather large legal issue if attempting to use any other accounts to work around accounts that have been frozen by the courts.

I'm not convinced that's whats happened. For a couple of years the club has been taking out large loans against its assets. You only don't that to create quick cash in desperate times. So with that I reckon ED started to shut his wallet long ago.

 

Because of that, I wouldnt be surprised if we've been in this position for a couple of years now (there was warnings in the 2014 accounts) but now there's effectively fuck all left to pawn and we've run out of options. You can't rob Peter to pay Paul forever.

 

Add in serious management failings on how bad the debt and cashflow is and it equals a swift death by a thousand cuts.

 

My view based upon a few people who have first hand knowledge of the failings is ED didn't know just how fucked up the cashflow situation was because I don't believe he would have sanctioned half the deals he apparently has this year if he knew.

 

That leaves the problem at the foot of PGs door and those involved in the finances, who simply run out of luck rolling the dices.

This is exactly where I'm at.

 

My worry is that it's just too big of a mess to sort out and those wanting to sort it out dont have the funds to do it or they'd have been in already.

 

This Emerson lot don't fill me with the greatest of confidence looking back at their history with Bolton and nobody know fuck all about the other so called interested parties.

 

What happens if this validation jobby gets turned down tomorrow??

Mounts I'm not sticking up for him, just trying to present the facts - I'm not trying to be argumentative or patronising, it just isn't as simple as you seem to think it would be

This is exactly where I'm at.

 

My worry is that it's just too big of a mess to sort out and those wanting to sort it out dont have the funds to do it or they'd have been in already.

 

This Emerson lot don't fill me with the greatest of confidence looking back at their history with Bolton and nobody know fuck all about the other so called interested parties.

 

What happens if this validation jobby gets turned down tomorrow??

 

Unlikely, I'm sure this is a rubber stamoping exercise, albeit a necessary one - this hearing is unlikely to obstruct something that would ease the problems after a higher court granted an extension on Monday

You irritate me with your demeanour towards the ordinary fan. ,

Ok

Mounts I'm not sticking up for him, just trying to present the facts - I'm not trying to be argumentative or patronising, it just isn't as simple as you seem to think it would be

I didn't think you were being argumentative or patronizing, I just thought if there was a will to pay the wages they could find a way, take your point and that maybe the case. ????

Mounts, this limping through till end of season stuff...

 

Does that mean the club has resigned itself to league 1 and in turn so have the players?

 

If not, why wouldn't Emerson or whoever step in now or before and stop this court nonsense and pay the staff?