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

[6feetdown]

Regarding your friend Mr Ashville. I have taken a little time to read the Administration Report. It looks like he has been working to clear his personal guarantee responsibilities. As for the rest of the mess……many have taken a hit.
The old yard situation was rather comical. He was dealing with ruthless landlords that know property law far better than he did. It looks like they served a valid rent increase. I can’t comment on the values as all London prices make my eyes water. He served notice to terminate, but failed to vacant in time, which meant he was on the hook for how ever long to the next break clause. That was not the only reason of the collapse. He had built the empire on invoice finance, when the work goes quiet you can’t draw sufficient cash in to cover the shortfalls if you are financed up to your eyeballs. It was a slow car crash that the old yard was just not going to go away. So ultimately he lost the new yard when the inevitable insolvency caught up with the reality. On paper it looks like he has taken quite a hot personally.
I have had a bet with one of my friends, the new “resort” will not be open in 24h months and in 5 years time he won’t own it!! What he is going to do is create more content as I guess that is where his personal money is still coming in!!

Yeah he definitely got carried away with finance and you rely on good times or a large wallet as backup to pay it back.
At least he is trying to pay back his liabilities I hope there weren't any decent companies who lost money

 

[hiluxman]

Yeah he definitely got carried away with finance and you rely on good times or a large wallet as backup to pay it back.
At least he is trying to pay back his liabilities I hope there weren't any decent companies who lost money

In some pictures that are available on the Internet you can see he filled the old yard with some material...can't fault that move...all in the art of getting licked. Exact ins and outs we don't/nor will ever know but on the face yeah he was out of time but what did the new landlords think he'd do....just pay it...yeah legally a contract is in place but once you've gone bump there's no winners.

 

[Stroppymonkey]

 

[Jimoz]

View attachment 82526

Whats causing this cement and energy costs?

 

[Monkeybusiness]

Whats causing this cement and energy costs?

Millimong/net zero aren’t helping!

 

[Lancs Lad]

Ardmore! Not good.

 

[bobthebuilder]

Millimong/net zero aren’t helping!

Green taxes ,climate tax,quarry tax landfill tax,business rates ,diesel price etc

 

[Jimoz]

Did anyone watch ashvilles new video buying a lorry? How often is he moving that new machine of his that it makes sense to drop over 100k on low loader set up? Are they that expensive to hire that it pays to have one to move 1 machine? Surely it would be sat 90% of the time.

 

[Diggerdave]

Did anyone watch ashvilles new video buying a lorry? How often is he moving that new machine of his that it makes sense to drop over 100k on low loader set up? Are they that expensive to hire that it pays to have one to move 1 machine? Surely it would be sat 90% of the time.

I did think the same watching it last night. The volvo did look nice to be fair. But no way anyone could justify that outlay and running costs for running one machine around. Loads of other low loader operators in his area also I would think.

 

[Jimoz]

I did think the same watching it last night. The volvo did look nice to be fair. But no way anyone could justify that outlay and running costs for running one machine around. Loads of other low loader operators in his area also I would think.

There must be something else going on. He did hint he may hire it out in the future but implied this was a while away. Its like hes learned some lessons with the branding being flashy etc but I just can't see how it makes business sense. Who knows I'm sure he knows a lot more than me about it.