magicroundabout
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« on: Thursday, May 12, 2005, 13:29:01 » |
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Can i ask how going into administration helps a business i.e STFC?? Some one on the adver forum who has looked at the accounts state that at the end of 2002/03 season we were over £9m in debt. now i thought the administration gets rid of these debts?? or am i way off the mark here??? http://www.thisisstfc.co.uk/Forum_New/topic.asp?TOPIC_ID=21477 |
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dogs
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« Reply #1 on: Thursday, May 12, 2005, 14:27:32 » |
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It may have been that, but yes because of going into admin, you only pay so much back to your creditors i.e. 10p of every pound you owe. That is why we entered a CVA agreement to pay back installments. We have one last one to pay next year or sometime in the near future. Can't remember how much it is, but between 500k -750k i'd imagine.
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sonicyouth
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« Reply #2 on: Thursday, May 12, 2005, 18:27:07 » |
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I believe it's either this summer or the end of the year, not sure of the exact amount but I think you're in the right region.
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Reg Smeeton
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« Reply #3 on: Thursday, May 12, 2005, 18:30:09 » |
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I think its 900K in 2007......if we get that far......one of the reasons for not offering 2 year deals, is that the Board may doubt we'll be around in the presenrt form in 2 years.
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redbird
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« Reply #4 on: Friday, May 13, 2005, 08:20:00 » |
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I think its 900K in 2007......if we get that far......one of the reasons for not offering 2 year deals, is that the Board may doubt we'll be around in the presenrt form in 2 years. Reg this is exactly what I have been thinking ever since I received the accounts and have been digesting Heywood's comments about only being offered a 1 yr contract. the signs do not look good at all. I think all us genuine fans will have to get together and try and raise the club some dosh to help them get through this...ohterwise there will be no club at all in the near future |
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Boeta
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« Reply #5 on: Friday, May 13, 2005, 09:45:21 » |
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i haven't bothered to look through the accounts but they will be an interesting read when i get round to them
hardly surprising that we are in so much shit when we were playing spackers like bobby howe £2k a week
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Piemonte
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« Reply #6 on: Friday, May 13, 2005, 09:48:49 » |
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try £5k a week boeta.
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Boeta
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« Reply #7 on: Friday, May 13, 2005, 09:54:23 » |
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where's that from?
ill ask my dad later but i thought he said 2
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Piemonte
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« Reply #8 on: Friday, May 13, 2005, 10:01:43 » |
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I'm sure at the time it became public that our highest earner was on £5k a week. The general consensus was that the player was Howe, due to him being the 1 player remainng who was signed for money in the mcmoan era
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Reg Smeeton
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« Reply #9 on: Friday, May 13, 2005, 10:19:08 » |
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I think its 900K in 2007......if we get that far......one of the reasons for not offering 2 year deals, is that the Board may doubt we'll be around in the presenrt form in 2 years. Reg this is exactly what I have been thinking ever since I received the accounts and have been digesting Heywood's comments about only being offered a 1 yr contract. the signs do not look good at all. I think all us genuine fans will have to get together and try and raise the club some dosh to help them get through this...ohterwise there will be no club at all in the near future The whole situation rests on the outcome of the CG development.....it is here that the genuine fan can help the club by applying pressure to the politicians like Justin Tomlinson. If we get the green light, then St Modwen wil stay on board, and it should be possible to start to attract other investment in.....the Wills family will be haoppy enough to hang around in the medium term, and although we may have to go down, it should be possible to keep a club running. Without a green light, then I fear a Trust take over and AFC Swindon route. Its been a bit quiet lately after Holt stated some outline plans were due into public shortly. |
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Boeta
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« Reply #10 on: Friday, May 13, 2005, 10:34:37 » |
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I'm sure at the time it became public that our highest earner was on £5k a week. The general consensus was that the player was Howe, due to him being the 1 player remainng who was signed for money in the mcmoan era Howe was definitely the highest earner straight after Donegan and Blatchley went |
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Iffy's Onion Bhaji
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« Reply #11 on: Friday, May 13, 2005, 10:44:30 » |
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well the accounts dont look good thats for sure but its hardly surprising when the board doesnt have a clue about ticket prices. admin far from gets rid of debt its just a safeguard period instead of liquidation (winding up of the club)
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Batch
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« Reply #12 on: Friday, May 13, 2005, 11:09:18 » |
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On the redevelopment, that last I remember was a "lovers tiff" with St Modwen. Was the "plans to be made public" statement after that?
If it gets the go ahead (a big if) may I suggest attempting a groundshare with Reading should one be needed during redevelopment. It would cut my journey time to games down!
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Simon Pieman
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« Reply #13 on: Friday, May 13, 2005, 12:21:56 » |
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Administration also ensures that businesses get 'fair value' for the sale of assets
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Simon Pieman
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« Reply #14 on: Sunday, May 15, 2005, 21:13:52 » |
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Yup I looked at the accounts today and shareholder's funds are £9.3m in the red, about £2m less than the year before
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