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

V8Druid

V8Druid

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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

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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

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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

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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

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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

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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

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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:
 
V8Druid

V8Druid

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#53
British steel in Administration ....... another bucket of stinking fish - French in this case :mad::mad:

two frogs bought it for a quid:oops: .... have charged the company £20M a year for 'services and fees' since, taken 200M off the UK gov. recently, in funding and have now wound it up, after totally stripping all the cream, milk and anything else that was worth having.
Oh and they've just invested £40m into one of their French steel plants .. wonder where the 40 mil. came from :unsure::unsure:
UK PLC screwed again :mad:
confiscate their passports and freeze all of their assets ... don't let them out of the country - ever again
 
Quattromike

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#54
Tragic. The worst part is all the honest working folk that put the effort into keeping the plant going are now going to be teetering on the bread line. The fat cats will have lined their pockets and sitting pretty where no one can reach them.
 
V8Druid

V8Druid

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#55
Tragic. The worst part is all the honest working folk that put the effort into keeping the plant going are now going to be teetering on the bread line. The fat cats will have lined their pockets and sitting pretty where no one can reach them.
have said for years .... the limitation of liability laws here need a radical shake up and company law in general :mad:
 
V8Druid

V8Druid

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#57
Kier shares down 40%
aye see it this morning ... they've been on the edge for months .... surprised they're still only teetering :unsure::rolleyes: .... some one gonna give 'em the shove soon, I'd've thought :unsure:
 
tinydigger

tinydigger

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#58
Kier shares down 40%
aye see it this morning ... they've been on the edge for months .... surprised they're still only teetering :unsure::rolleyes: .... some one gonna give 'em the shove soon, I'd've thought :unsure:
if they do take a fall over the edge I know a Scottish based national hire company that will feel there arse cheeks nip tight as they are very deep in with them even to the point that they have there own head quarters based hire controllers who deal with nothing but them nationwide :unsure::unsure::unsure:
 
V8Druid

V8Druid

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#59
if they do take a fall over the edge I know a Scottish based national hire company that will feel there arse cheeks nip tight as they are very deep in with them even to the point that they have there own head quarters based hire controllers who deal with nothing but them nationwide :unsure::unsure::unsure:
question of time Andy IMHDO .... and the hour glass is almost empty ..... how many crises can you lurch from and survive
 
tinydigger

tinydigger

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#60
question of time Andy IMHDO .... and the hour glass is almost empty ..... how many crises can you lurch from and survive
Yeah and they have had a few recently I know when I speak to the guys on the ground they haven't got a good word to say about anyone above them. Been holding on before I jumped but looks like I might take the leap sooner rather then later