Gynnsthetonic
Well-Known Member
Are they allowed to sell the stadium though, doesn't the freeholder have a say who it's sold too or if at all?
Are they allowed to sell the stadium though, doesn't the freeholder have a say who it's sold too or if at all?That's one possibility fp certainly. Selling the stadium part is another. There are other possibilities. I am sure we will find out soon enough
Are they allowed to sell the stadium though, doesn't the freeholder have a say who it's sold too or if at all?
Couldn't just sell it to anyone surely, there must be some sort of covenant in placewouldn’t have seen why they would
Couldn't just sell it to anyone surely, there must be some sort of covenant in place
Because its a sports stadium, they couldn't turn it into a giant garden centre or go-cart track otherwise we are back to square 1 with nowhere for the cities football club to play.Its Unlikely they’d veto any assignment in reality why would they
I think that might be because there is now no market for them to be traded on so not possible to put a trading price on them. The only thing left is pay out (or not) to the existing bond holders.
Do you think they are possibly looking to restructure the companies?
I was having a read through there the other day and one guy was claiming it’s a good thing as they’re getting an extra months interest and he can wait for his £170,000!HL confirmed that position yesterday
However it shook some investors as their portfolios, without notice or explanation, took a hit. Some investors say their investment portfolios should reflect the redemption value -it may well do of course!
Also one deluded sole thought it meant his capital funds were being sent!!
I was having a read through there the other day and one guy was claiming it’s a good thing as they’re getting an extra months interest and he can wait for his £170,000!
Did I read that right? The Ricoh needs 20m to update it???? Fuck me - we are better off fucking off if a 17 year old stadium needs that much renovation
Some serious concern on here….
Somethings going on and it’s more than just refinancing the £35m bond. I don’t think Richardson will put anymore of his own money into a failed business as he has no chance of getting it back.
Somethings going on and it’s more than just refinancing the £35m bond. I don’t think Richardson will put anymore of his own money into a failed business as he has no chance of getting it back.
They cannot continue to bury their heads in the sand anymore it’s that serious. Debt mounting year after year yet still pursuing hotels and training grounds.It’s like the recent Maxwell documentary- no real business strategy at all. Perhaps we will see a bbc documentary on what happened to the insects after they are put into liquidation?!!
Joking aside, as another chairman called Brian Richardson once said “You can’t go on forever like this.”
I don't know much about money/finance. I am sure others will have better thoughts about what's going on.
Something isn\t right for sure. Paying off the bonds isn't something that has come out of nowhere, they're known from the day they were issued when and how much was needed. To be weeks past the maturity date with no sign of any payment can't be anything other than a sign there is an issue no matter how much their supporters want to keep buying their heads in the sand.Somethings going on and it’s more than just refinancing the £35m bond.
Something isn\t right for sure. Paying off the bonds isn't something that has come out of nowhere, they're known from the day they were issued when and how much was needed. To be weeks past the maturity date with no sign of any payment can't be anything other than a sign there is an issue no matter how much their supporters want to keep buying their heads in the sand.
What the issue is we can only guess. It could be that nobody wants to loan money given the state of their accounts, it could be the stadium valuation doesn't hold up as security or anything else.
If I'd got any money invested in them I would be very worried.
Acl (2006) ltd I think has the external loan funding and no employees
IEC experience ltd is the operating company of conferences events etc
I would guess the late accounts have triggered the notice?
It could be a takeover of the business by someone else or a restructure - closing the company and moving around the funding side
Yes, it is Companies House that have triggered it due to late filing. Almost certain any lender would want to see a copy of these so will be watching keenly.
They could just delay paying again, and again after that.It’s highly unlikely the bond will default
IEC are also of course late filing
They could just delay paying again, and again after that.
Yes they would be, but they could just keep delaying unless they decide to stop paying the interest too, what would happen then I don't know.They are paying interest still.
Some serious concern on here….
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