Cloud Posted February 8, 2007 Author Report Share Posted February 8, 2007 This doesn't mean the end. Administration simply means they're protected from their creditors. The club and bar will continue to trade as normal for the forseeable future.Administration is slightly more complicated than that, particularly the consequences. From Companies House - Administration is when a person, ‘the administrator’, is appointed to manage a company’s affairs, business and property for the benefit of the creditors.The objective of administration is to: * rescue a company as a going concern; * achieve a better price for the company’s assets or otherwise realise their value more favourably for the creditors as a whole than would be likely if the company were wound up (without first being in administration); or * in certain circumstances, realise the value of property in order to make a distribution to one or more preferential creditors.I agree that they're protected from their creditors, but the possible scenarios are hideously complex.Interesting times ahead, indeed. Link to comment Share on other sites More sharing options...
Old Gold Posted February 8, 2007 Report Share Posted February 8, 2007 I'm on the edge of my seat. Link to comment Share on other sites More sharing options...
Hog Posted February 8, 2007 Report Share Posted February 8, 2007 Perhaps checking the details regarding the state of Moshulu would give the bigger picture.Yes, you can keep companies as seperate entities (i.e. LTD) but if they are all in the same ship you have to be careful. Link to comment Share on other sites More sharing options...
Neil Posted February 8, 2007 Report Share Posted February 8, 2007 If the rumours I've heard about this are true, then something quite exciting is going to rise from the ashes of RFR Promotions. Link to comment Share on other sites More sharing options...
Jim Stax Posted February 8, 2007 Report Share Posted February 8, 2007 If the rumours I've heard about this are true, then something quite exciting is going to rise from the ashes of RFR Promotions.A giant strip bar?! Link to comment Share on other sites More sharing options...
Moshulu Rob Posted February 8, 2007 Report Share Posted February 8, 2007 A giant strip bar?!That's my vote, i just wish i had more equity, I have a feeling I'll be voting for that alone Link to comment Share on other sites More sharing options...
Hog Posted February 8, 2007 Report Share Posted February 8, 2007 That's my vote, i just wish i had more equity, I have a feeling I'll be voting for that alone No, you have my vote. Link to comment Share on other sites More sharing options...
TR!ΔNGL€ T€€TH Posted February 8, 2007 Report Share Posted February 8, 2007 A giant strip bar?!Do you mean stripping giants? Link to comment Share on other sites More sharing options...
The Milner Posted February 10, 2007 Report Share Posted February 10, 2007 a whole page in the ee, but im sure some mods could still say cloud is spouting shit. Link to comment Share on other sites More sharing options...
Guest Bob Posted February 10, 2007 Report Share Posted February 10, 2007 Please tell me you don't believe what you read in the Evening Express?Please tell me you don't dismiss something just because it was in the Evening Express. Link to comment Share on other sites More sharing options...
The Milner Posted February 10, 2007 Report Share Posted February 10, 2007 the point still stands tho, if anyone else had posted up that link then it would have been discussed but as cloud posted it, then instantly it becomes someone trying to stirr troble.Most are not in the same situation as you dave and know jamsey to speak to him to find out what is actually happening, so what the evening express has reported will seem like what is happening to almost everyone. Link to comment Share on other sites More sharing options...
Hog Posted February 10, 2007 Report Share Posted February 10, 2007 No, I dismiss it because I know the real story behind it, through talking to the people directly involved. This whole situation is a classic case of mountains out of molehills.Ah! so they are not going into liquidation? Link to comment Share on other sites More sharing options...
soundian Posted February 10, 2007 Report Share Posted February 10, 2007 No, I dismiss it because I know the real story behind it, through talking to the people directly involved. This whole situation is a classic case of mountains out of molehills. I don't get you, the story says they are in administration, all the legal notices say they are in administration, all anyone has said on this thread is that they're in administration, where's the mountains. Link to comment Share on other sites More sharing options...
soundian Posted February 10, 2007 Report Share Posted February 10, 2007 That the EE actually thought that a company going into administration was worth a full-page article, especially as it has no bearing on the current and future success of the business. Moshulu and the Bassment will remain open. The customers and staff are, and will continue to be unaffected. It's a non-story. It was your use of the phrase "This whole situation" that threw me. Link to comment Share on other sites More sharing options...
The Milner Posted February 10, 2007 Report Share Posted February 10, 2007 I'd have posted the topic myself if I actually thought there was anything to worry about. If you look back on the thread you'll see Rob's pretty relaxed about the situation. I think that speaks volumes. "A little knowledge is a dangerous thing", as a wise man once said.yes it does but that came after cloud had posted the link. Most people would have done the same, if a company we are all familiar with went into trouble and the first we heard was on a web page or in the paper then we would post it on here, you would as well, just so happens you konw the people involved this time. 1 Link to comment Share on other sites More sharing options...
Guest Bob Posted February 10, 2007 Report Share Posted February 10, 2007 No, I dismiss it because I know the real story behind it, through talking to the people directly involved.Ah, so your dismissal wasn't because of the amateurish journalism of the local press but instead due to insider knowledge that very few are privy to.Without this knowledge can you really blame other people for not dismissing it? Link to comment Share on other sites More sharing options...
Neil Posted February 10, 2007 Report Share Posted February 10, 2007 The article in question from the Evening Express, in case anyone is interested: this is aberdeen - news, entertainment, jobs, homes and cars Link to comment Share on other sites More sharing options...
HairyScaryMark Posted February 10, 2007 Report Share Posted February 10, 2007 I'm apparently in a photo in the evening express. Haven't seen it though. Link to comment Share on other sites More sharing options...
Jim Stax Posted February 10, 2007 Report Share Posted February 10, 2007 They are in Administration, there is some noted interest in buying the business as an ongoing concern. Regular business world stuff with a potentially good outcomeIf you have direct insider knowledge then whoopee for you, the rest of us will just go with what we read and hear on the grapevine and await a positive outcome.The business world is a funny old place full of intriguing and interesting shennanigans. Link to comment Share on other sites More sharing options...
Scorge Posted February 10, 2007 Report Share Posted February 10, 2007 'No-one at RFR was available for comment'. Arf!This thread has more spin on it than a Labour press conference....... Link to comment Share on other sites More sharing options...
HeinzHines Posted February 10, 2007 Report Share Posted February 10, 2007 Poor show. Link to comment Share on other sites More sharing options...
Wax Posted February 11, 2007 Report Share Posted February 11, 2007 Read somewhere else that CPL, owners of the Garage and Cathouse in Glasgow, are looking to expand their brands elsewhere in Scotland after completing sales of Cube and the Tunnel (also Glasgow).2 + 2 = (I'll leave this blank at the moment) Link to comment Share on other sites More sharing options...
Graeme Posted February 11, 2007 Report Share Posted February 11, 2007 Read somewhere else that CPL, owners of the Garage and Cathouse in Glasgow, are looking to expand their brands elsewhere in Scotland after completing sales of Cube and the Tunnel (also Glasgow).2 + 2 = (I'll leave this blank at the moment)Not sure how that would all tie in with the predominately DF links of RFR. So my 2+2 = (also blank but I'm sure it'll be all good) Link to comment Share on other sites More sharing options...
Guest MDP Posted February 11, 2007 Report Share Posted February 11, 2007 aye, my bet is on a DFC or possibly even CPL takeover. Link to comment Share on other sites More sharing options...
Dan G Posted February 11, 2007 Report Share Posted February 11, 2007 F.Y.I. the C.E.O. of D.F. knows that C.P.L. is D.I.Y. (like M.F.I. or D.R.I.) and therefore the 411 on R.F.R is that a takeover is T.B.A but will hopefully be resolved A.S.A.P Link to comment Share on other sites More sharing options...
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