so ..... basically they're bust - - - continued

V8Druid

V8Druid

do it as well as you can,but learn to do it better
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#41
A very small scale in comparison to some of there "projects".... but have it on good authority that interserve are trying to buy a little business out cos they think it is hurting there profits.. even though said business is showing no profit.
Like I say it's a very very small business in the grand scale of things.... but shows there mentality in my opinion 😧
absolutely Aiden .....
they're in debt to the tune of over £625 million ..
no matter which arm of their business they lump the debts against, with a face value of less than 25 million quid ....
no one has the guts to put them through, as they're all owed inordinate amounts of dosh ....
needs a small outfit, with a legitimate debt, who're not too concerned about its loss, to put 'em before the beak and wind them up!! :mad: ...... and do the world a favor :rolleyes: (y)
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
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#42
Interserve tits up yesterday ..... what a rip off .....

Interserve " expected a transfer of all its assets to a newly-incorporated company owned by its existing lenders was likely to take place on Friday evening. ....... this arrangement should ensure that its business can continue to operate “as normal” for its customers and suppliers ........ (the) pre-pack administration would see all shareholder value wiped out entirely. " :( :mad: https://www.independent.co.uk/.../interserve-job-losses...
 
Gunners

Gunners

Well-known member
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#44
The shareholders wouldn't agree to the restructuring - their own fault now!
Because it would of seen their share price reduced to 5% of their value.... which unfortunatly chaps is what happens when the company you have shares in is run badly! I dont know what world they live in where they think their investment is safe no matter what happens to the firm?
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
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#45
The shareholders wouldn't agree to the restructuring - their own fault now!
valueless anyway Alex ..... £650M debts and valued at under £20 Mil max, on a good day LOL ...... yet another glorified scheme to have its debts wiped out and still continue to trade, all be it in a.n.other incarnation :mad::mad:
at least if they'd agreed it, the debtors'd have had summat out of it and said shareholders might've stood some sort of chance of regaining some value to their holdings ... now they all lose out

best quote there is ..... " The GMB union, which represents Interserve workers, said the company’s turmoil showed outsourcing public sector contracts to private companies had been a “disastrous experiment”.
“Ministers have learnt absolutely nothing from the Carillion fiasco and are hell-bent on outsourcing public sector contracts,” the union said in a statement.
“Shambolic mismanagement is putting jobs on the line and services in jeopardy. Our public services can't go on like this.” " but they will :(:mad:
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
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#46
Because it would of seen their share price reduced to 5% of their value.... which unfortunatly chaps is what happens when the company you have shares in is run badly! I dont know what world they live in where they think their investment is safe no matter what happens to the firm?
5% is better than zero though ..... and a remote chance of recovering perhaps :unsure::ROFLMAO::ROFLMAO::eek:
stocks and shares investments should only ever be made with money you can afford to write off ..... it's essentially glorified gambling ... if you're that way inclined and fancy a flutter :rolleyes: .... but don't ****ing winge when you lose your shirt :mad: ... a wise(r) investment (read GAMBLE) might've won you a new 'wardrobe' :rolleyes:
 
Grahams

Grahams

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#47
I was reading in the paper Amey is in danger of going skint over a bad deal with Birmingham City Council. They seem to have taken on a 25 year contract to maintain Birminghams roads for £2.7 billion. How can you possibly get a contract like that nailed down to a price? It just doesn't seem possible to me that anyone can predict 25 years into the future.
Graham
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
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#48
I was reading in the paper Amey is in danger of going skint over a bad deal with Birmingham City Council. They seem to have taken on a 25 year contract to maintain Birminghams roads for £2.7 billion. How can you possibly get a contract like that nailed down to a price? It just doesn't seem possible to me that anyone can predict 25 years into the future.
Graham
that's still nigh on 100 million a year though Gra :oops:
 
Grahams

Grahams

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#49
Yes, I'd like someone to give me £100 million a year, but it appears to do what the council thought they had agreed was costing more than they were getting paid. Supposidly Ameys clever contract people had worded it so they didn't have to do all the work. It went to court and Amey won, but the council then appealled and they won instead.
Graham
 
A

AndyC

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#50
You don't have to go back too many years to remember all the PFI rip off headlines, when the likes of Carillion, Interserve etc were raking in the money. They had took on projects based on interest rates of 6 or 8% and were now only paying 1%, leaving hospitals etc paying over the odds for up to 30 years. Now with the projects costed on low interest rates, but having to compete for materials and labour when both are short they are running out of cash. In reality the taxpayer is doing well, these firms are working at cost.
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
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#51
You don't have to go back too many years to remember all the PFI rip off headlines, when the likes of Carillion, Interserve etc were raking in the money. They had took on projects based on interest rates of 6 or 8% and were now only paying 1%, leaving hospitals etc paying over the odds for up to 30 years. Now with the projects costed on low interest rates, but having to compete for materials and labour when both are short they are running out of cash. In reality the taxpayer is doing well, these firms are working at cost.
if they were they'd all be breaking even and not bombing out in their droves :rolleyes: