More Akkeron Hotels in Admin

Some more companies gone into administration :-

Ardsley House Hotel Limited
Cardacliff Hotels Limited
Forest And Glen Limited
Forest Park Charter And Shipping Co. Limited
Parade Hotels (bath )limited
Southern Counties Hotels (southampton) Limited
Zoffany Hotels Limited

Dick Trickle wrote:

Cerbera wrote:

PAFC LTD is a totally separate company to Akkeron LTD. How do you come to the conclusion that PAFC will go into admin if Akkeron fails? Just because both companies share the same Chairman is the only common ground. There is no financial tie between the two.

You comment is akin to Peugeot going bust and it affecting Ford.

Some people on here know Mr Cerbs I believe.

Is he as thick as he types?

As thick as thieves with nool and the gang. Also friends with the AFT leader. Spotted his ambitions in the little Argyle world, from the start.

I presume these are more of brents companies.

As regards to cerbera he is correct about akkerron and pafc . The clue is the ltd bit at the end. If a Ltd company goes bust the creditors cannot go after the chairman .

Brent is rumoured to have funded (loaned to) Argyle close to £2m since he took over. If this money came from Akkeron (and I don't know that it did) then what ever happens to Akkeron as it continues to fail very much impacts on the Club.

How does a LTD company owner lend his own company money?

Surely if he is going to profit out of said company then he is investing or shoring it up in times of difficulty, cash flow problems etc..?

The relationship 'tween brent, pafc and akkeron sure is transparent and open, thank the good lord that we have such an altruistic leader after staplewallet, no similarities there either?

Dick Trickle wrote:

Cerbera wrote:

PAFC LTD is a totally separate company to Akkeron LTD. How do you come to the conclusion that PAFC will go into admin if Akkeron fails? Just because both companies share the same Chairman is the only common ground. There is no financial tie between the two.

You comment is akin to Peugeot going bust and it affecting Ford.

Some people on here know Mr Cerbs I believe.

Is he as thick as he types?

Yup.

He's also a turncoat sellout aswell.

Hitch wrote:

Brent is rumoured to have funded (loaned to) Argyle close to £2m since he took over. If this money came from Akkeron (and I don't know that it did) then what ever happens to Akkeron as it continues to fail very much impacts on the Club.

For the eight thousand and seventh time, Brent has never loaned a penny to Argyle, all he has done is use his perceived muscle to reschedule the existing debts, hence I would imagine his willingness to get Wrathall involved, payments will be falling due and Mr.Brent's credit rating is rapidly going South. Whether he was using Akkersgone's covenant to guarantee Garg indebtedness I doubt, he would have been well aware of the cash situation of both companies and wouldn't have wanted the demise of one to impact upon the other. The only reason he had dipped his toe into the Garg pool would have been the potential profits from the HHP development, without Akkersgone as a going concern he will find it increasingly difficult to attract institutional funding, so chances are HHP is, as many have suggested, will shortly be pronounced DOA.

The upside for Harry Potter is of course that his personal financial situation has been improved markedly via his negotiations with the brain dead representatives of PCC.

You boys need a plan to pick up the pieces (c.AWB), you need to get whatever cash you can together and develop a structure to compete with the Pig Platoon when the poo hits the fan yet again.

Lord Tisdale wrote:

Hitch wrote:

Brent is rumoured to have funded (loaned to) Argyle close to £2m since he took over. If this money came from Akkeron (and I don't know that it did) then what ever happens to Akkeron as it continues to fail very much impacts on the Club.

For the eight thousand and seventh time, Brent has never loaned a penny to Argyle, all he has done is use his perceived muscle to reschedule the existing debts, hence I would imagine his willingness to get Wrathall involved, payments will be falling due and Mr.Brent's credit rating is rapidly going South. Whether he was using Akkersgone's covenant to guarantee Garg indebtedness I doubt, he would have been well aware of the cash situation of both companies and wouldn't have wanted the demise of one to impact upon the other. The only reason he had dipped his toe into the Garg pool would have been the potential profits from the HHP development, without Akkersgone as a going concern he will find it increasingly difficult to attract institutional funding, so chances are HHP is, as many have suggested, will shortly be pronounced DOA.

The upside for Harry Potter is of course that his personal financial situation has been improved markedly via his negotiations with the brain dead representatives of PCC.

You boys need a plan to pick up the pieces (c.AWB), you need to get whatever cash you can together and develop a structure to compete with the Pig Platoon when the poo hits the fan yet again.

Since Brent took over after admin, the club has continued to run at a loss. Estimates are between £1.6m - £2m of losses so far during his tenure. That is on top of the restructured existing old debt. Brent, via whatever institutional vehicle or financial instrument has, until Wrathall came back, been making up that shortfall. That shortfall is hardly likely to have been a gift it must be loan notes. Brent must have arranged that funding somehow and it must be a loan. Can't see the issue here.

It's all a bit odd.

Recently we have learned that turnover is £3.8m per year, that Brent has loaned around £2m and Wrathall has also stumped up some cash.

Just to keep numbers simple in the 2 1/2 years Brent has been in charge Argyle has lost a further £2.5m or, if you prefer we have been losing £1m per year or £20,000 per week (or thereabouts).

We have been losing money at a rate of 25% of our gross annual income if all we have been told is true.

It's baffling.

Lord Tisdale wrote:

Hitch wrote:

Brent is rumoured to have funded (loaned to) Argyle close to £2m since he took over. If this money came from Akkeron (and I don't know that it did) then what ever happens to Akkeron as it continues to fail very much impacts on the Club.

For the eight thousand and seventh time, Brent has never loaned a penny to Argyle, all he has done is use his perceived muscle to reschedule the existing debts, hence I would imagine his willingness to get Wrathall involved, payments will be falling due and Mr.Brent's credit rating is rapidly going South. Whether he was using Akkersgone's covenant to guarantee Garg indebtedness I doubt, he would have been well aware of the cash situation of both companies and wouldn't have wanted the demise of one to impact upon the other. The only reason he had dipped his toe into the Garg pool would have been the potential profits from the HHP development, without Akkersgone as a going concern he will find it increasingly difficult to attract institutional funding, so chances are HHP is, as many have suggested, will shortly be pronounced DOA.

The upside for Harry Potter is of course that his personal financial situation has been improved markedly via his negotiations with the brain dead representatives of PCC.

You boys need a plan to pick up the pieces (c.AWB), you need to get whatever cash you can together and develop a structure to compete with the Pig Platoon when the poo hits the fan yet again.

If HHP is a non starter - cut the cake (c.AWB)

Sir Francis Drake wrote:

It's all a bit odd.

Recently we have learned that turnover is £3.8m per year, that Brent has loaned around £2m and Wrathall has also stumped up some cash.

Just to keep numbers simple in the 2 1/2 years Brent has been in charge Argyle has lost a further £2.5m or, if you prefer we have been losing £1m per year or £20,000 per week (or thereabouts).

We have been losing money at a rate of 25% of our gross annual income if all we have been told is true.

It's baffling.

Those prawn sandwiches aren't cheap ya know.

Sir Francis Drake wrote:

It's all a bit odd.

Recently we have learned that turnover is £3.8m per year, that Brent has loaned around £2m and Wrathall has also stumped up some cash.

Just to keep numbers simple in the 2 1/2 years Brent has been in charge Argyle has lost a further £2.5m or, if you prefer we have been losing £1m per year or £20,000 per week (or thereabouts).

We have been losing money at a rate of 25% of our gross annual income if all we have been told is true.

It's baffling.

The emboldened bit isn't strictly accurate, in fact it's plain wrong, as we don't know what debts have been reduced. You can't deduce a profit or loss without taking into account all outstanding debts to the likes of the staff and the previous creditors/ owners/Mastpoint etc at the end of the period concerned.

I think it's been well documented that Brent was expected to stand guarantor for estimated year 1 losses and much smaller losses in year 2, as part of the "sale price". He has had to stand for more than anticipated during admin because someone, probably Ridsdale, suggested an 8000 average attendance budget. Without full accounts, including off balance sheet debts that may well exist, we can't know.

If we are operating within the 55% of turnover going to wages as enforced by the 'eyes like hawks' Football League, it should be quite feasible to conjure up an estimate on our outgoings on a turnover of 3.8m. Or at least shed some light on where 20k a week is disappearing.

Senior players on £1,500-£2,000 a week. Middling players on around £1,200, youngster pro's on around£7-900 a week. 'Bout right?

Actually, I can't be arsed......

I reckon the debt is about £3-£6m. I dreamed it.

Winter Green wrote:

I think it's been well documented that Brent was expected to stand guarantor for estimated year 1 losses and much smaller losses in year 2, as part of the "sale price".

Anyone who thinks Brent has personally guaranteed one penny of Argyle's debt needs sectioning, Porky falling pregnant is more likely.

Lord Tisdale wrote:

Winter Green wrote:

I think it's been well documented that Brent was expected to stand guarantor for estimated year 1 losses and much smaller losses in year 2, as part of the "sale price".

Anyone who thinks Brent has personally guaranteed one penny of Argyle's debt needs sectioning, Porky falling pregnant is more likely.

For 'Brent' one simply HAS to read/include any of his various companies. That'll be Akkeron then.