Administration!! (1 Viewer)

[CJparker]

I'd like to know why so many posters think that SISU would/could put the club into administration.

Admin is just a mechanism for getting creditors off yoru back whilst still trading - the only creditor for CCFC is SISU and their backers, so the only effect of admin (other than a points deduction) would be for SISU to write off it's own loans to the club, which it clearly doesn't want to do (hence no deal with Hoff).

Liquidation would be far more likely - get as much as possible for the squad, Ryton, any other assets, then walk away with as low a loss as possible, and a final FU to the fans.

 

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[Grendel]

Creditors are everyone who you owe money to, council, revenue etc. liquidation would be commercial suicide.

 

[CJparker]

But admin wouldn't get rid of the stadium rent bill, and as far as I know we do not owe HMRC...the bulk of the debt is to SISU and their backers - what are they going to do, agree a Creditor's Voluntary Agreement with themselves?

The only reason they don't liquidate is to avoid the stain on SISU's reputation - they'd rather cut their losses but can't afford that on their record. The only option is to keep losses to a minimum and hope to get new investment to either share the burden or to let them get out with as low a loss as possible. They won't bankroll us for even a reasonable squad now, their investors won't stand for it - the only option is to keep the club going on a skeleton budget and wait for the takeover to happen.

Conversely, Hoffman and Co want to get the club for as cheap as possible, which means letting SISU stew for as long as it takes to get them to sell up for a pittance - in the meantime the predicable has happened and our club is going down the toilet as a result.

 

[Gray]

what did people actually talk about on forums before SISU took over?

 

[Astute]

what did people actually talk about on forums before SISU took over?

How sh!t we are, how much money we owe and who to

The names have changed, the rest of it has stayed the same :facepalm:

 

[theprince]

what did people actually talk about on forums before SISU took over?

In the main the move to our new super stadium and how we will benefit from all the increased revenue from pop concerts, conferences, the casino and the 32000 fans who will flock to our new home every match.

 

[curlyc_]

In the main the move to our new super stadium and how we will benefit from all the increased revenue from pop concerts, conferences, the casino and the 32000 fans who will flock to our new home every match.

aaaahhhhhhh....Those were the days.........Not forgetting 'Operation Premiership.....

 

[ccfcway]

Trevor Benjamin

and Gray going

and more bad news for Fletcher

 

[skyblueman]

As far as I know Administration would get rid of all the back liabilities including the rent - biggest problem here is SISU loose all control and have to put it all in the hands of a third party to sort out - they aren't going to want to do that. SISU will just end up as another creditor having to take a few pence in the £ along with everyone else from whatever the administrator realises for the club. Liquidation effectively puts them in the same boat - only real option if there is no viable on-going business. They are going to minimise all the losses and sit and wait until a deal comes along for someone to buy them out - it's all they can do really. That means guys NO MONEY for players - forget it it's not going to happen - they won't want to spend a penny more than they have to... Only thing that can change this without another buyer is if losses start to bite hard.. and that's the real issue here .. and that my friends is all down to us and how much we are prepared to give SISU in ticket money

 

[oldskyblue58]

I'd like to know why so many posters think that SISU would/could put the club into administration.

Admin is just a mechanism for getting creditors off yoru back whilst still trading - the only creditor for CCFC is SISU and their backers, so the only effect of admin (other than a points deduction) would be for SISU to write off it's own loans to the club, which it clearly doesn't want to do (hence no deal with Hoff).

Liquidation would be far more likely - get as much as possible for the squad, Ryton, any other assets, then walk away with as low a loss as possible, and a final FU to the fans.

Part of the reason there is the ARVO charge CJP ...... they can liquidate CCFC and retain the assets which can then be sold off. They have seperated the assets from the liabilities should the worst happen

No point to administration..... SISU are pretty well running it as an administration ...... plus they would lose the most from it