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Waiting in the Wings?

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Peverell Pete

Mar 9, 2009
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Have heard that there is consortium including a former Director waiting in the wings if the club goes into admin. Although waiting for administration is a smart business move a 10 point hit would mean almost certain relegation.

My fan head says the consortium should be lining up to work with the curent board and save our League 1 status but I also think they should wait for admin, take over, get the 7 (or is it 6 now) out and start afresh in League 2.
 
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Iggy

Feb 29, 2008
1,208
0
I think if we are to take a hit of 10 points do it this year, if it means league 2 so be it.
 
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Half-Time-Pasty

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I didn't think a chance of administration existed?
 
Mark Pedlar

Mark Pedlar

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Half-Time-Pasty":1nyzn7uq said:
I didn't think a chance of administration existed?
Click to expand...

Administration won't help - they would only be interested in paying creditors. With outgoings so high and little revenue coming in administrators would be better off winding the whole thing up and paying what they could to creditors.
 
warney

warney

Apr 20, 2004
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Mark Pedlar":3npifa14 said:
Half-Time-Pasty":3npifa14 said:
I didn't think a chance of administration existed?
Click to expand...

Administration won't help - they would only be interested in paying creditors. With outgoings so high and little revenue coming in administrators would be better off winding the whole thing up and paying what they could to creditors.
Click to expand...

Why? If they wind us up there'll be the same amount of assets available to pay off the creditors as there will be if we go into administration. And those assets, such as they are, will be worth more if Argyle continue as a going concern then if we're wound up and cease to exist.
As long as there is a group in the wings willing to cover the ongoing losses, then admin would be the best course of action.
Trouble if, if there seems to be no hope of anyone taking on the club, as you say we could be wound up to avoid any ongoing losses. But then that would devalue the primary assest - Home Park.
 
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Anonymous

Guest
Peverell Pete":9pmby6jy said:
Have heard that there is consortium including a former Director waiting in the wings if the club goes into admin. Although waiting for administration is a smart business move a 10 point hit would mean almost certain relegation.

My fan head says the consortium should be lining up to work with the curent board and save our League 1 status but I also think they should wait for admin, take over, get the 7 (or is it 6 now) out and start afresh in League 2.
Click to expand...


I hope its not Phil Gill or that useless prat Leznor or we are doomed!
 
Mark Pedlar

Mark Pedlar

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warney":3oxgdvpa said:
Mark Pedlar":3oxgdvpa said:
Half-Time-Pasty":3oxgdvpa said:
I didn't think a chance of administration existed?
Click to expand...

Administration won't help - they would only be interested in paying creditors. With outgoings so high and little revenue coming in administrators would be better off winding the whole thing up and paying what they could to creditors.
Click to expand...

Why? If they wind us up there'll be the same amount of assets available to pay off the creditors as there will be if we go into administration. And those assets, such as they are, will be worth more if Argyle continue as a going concern then if we're wound up and cease to exist.
As long as there is a group in the wings willing to cover the ongoing losses, then admin would be the best course of action.
Trouble if, if there seems to be no hope of anyone taking on the club, as you say we could be wound up to avoid any ongoing losses. But then that would devalue the primary assest - Home Park.
Click to expand...

Theer is no money coming in - the assets will have more value there and then than. MONEY COMING IN DOES NOT COVER OUTGOINGS.
 
A

argylelc

Guest
Mark Pedlar":29ktpk1o said:
warney":29ktpk1o said:
Mark Pedlar":29ktpk1o said:
Half-Time-Pasty":29ktpk1o said:
I didn't think a chance of administration existed?
Click to expand...

Administration won't help - they would only be interested in paying creditors. With outgoings so high and little revenue coming in administrators would be better off winding the whole thing up and paying what they could to creditors.
Click to expand...

Why? If they wind us up there'll be the same amount of assets available to pay off the creditors as there will be if we go into administration. And those assets, such as they are, will be worth more if Argyle continue as a going concern then if we're wound up and cease to exist.
As long as there is a group in the wings willing to cover the ongoing losses, then admin would be the best course of action.
Trouble if, if there seems to be no hope of anyone taking on the club, as you say we could be wound up to avoid any ongoing losses. But then that would devalue the primary assest - Home Park.
Click to expand...

Theer is no money coming in - the assets will have more value there and then than. MONEY COMING IN DOES NOT COVER OUTGOINGS.
Click to expand...

you have ignored the sentence afterwards saying..."As long as there is a group in the wings willing to cover the ongoing losses, then admin would be the best course of action."

I think the question is simply how much will a liquidator be able to raise from disposal of the assets versus how much is somebody else willing to pay to take over the business (and if the creditors will accept that offer). The ongoing costs would be down to the new owner, so they need to factor in up front cost plus ongoing losses to make their total investment.
This is why we need to get the operating costs down, as that makes the club more viable for a takeover. The cost you could buy the club for upfront is prob next to nothing, as there are hardly any real saleable assets to raise money if liquidated....
 
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deanthegreenmachine

Guest
Well I hope something is in the wings, if the weve only got 30% chance of staying in business according to Mr Risdale on the Risdale answers thread on the main discussions page..... :cry:
 
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Half-Time-Pasty

Guest
Mark Pedlar":1ogyvjj0 said:
Half-Time-Pasty":1ogyvjj0 said:
I didn't think a chance of administration existed?
Click to expand...

Administration won't help - they would only be interested in paying creditors. With outgoings so high and little revenue coming in administrators would be better off winding the whole thing up and paying what they could to creditors.
Click to expand...

Exactly my point. My partner is a Charter Accountant working in an insolvency department, i've heard every Accounting blah blah known to man since mentioning Argyle to her...
 
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charlee

Guest
I dont unserstand how we now have a 30% chance of suriving what the hell is that about? I thought if we raised another £500,000 we are ok til the summer and trying to generate cashflow. Now this!

This is annoying me as we are given differnt answers every day. Gr! This situation is aging me. I couldnt bare see us die :(
 
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