Meanwhile over at the beano a sports reporter is worried over his shoddy reporting.
For failing to spot the crook in the box the local rag may have had a national biggie on its hands if the intrepid one had told the boss who the ex con was before letting the picture loose on the bright and observant local folk
It has been noticed he again failed to report the Dean Holdsworth SSI group are unable to secure any borrowing which is no surprise given the infancy of the group. The minor tax bill of the odd 570k and rising is a clear indication the delaying of reports being filed were merely a delaying tactic by an unscrupulous business management technique to buy some time which failed and will not go down to well.
Ach... she cannae take much more of it captain..... If I give her any more she'll blow
A..... Ar.......Arm...ARMA.......... it’s here Abandon ship
At this stage I would accept administration and just hope we start next season in league one debt free and with a sustainable wage bill and rebuild the club that way like Southampton did.
Morning all,told you four years ago Benny this was coming.Years of lies by the board regarding finances,a chairman who brands the fans numpties when we question his leadership,the chairman accused of financial irregularities and perjury.This isn't going to end well.
So this is a worst case scenario plan.
Least they are planning.
Sound the doom klaxon when it happens though.
We are just another club in the rear view mirror of gm he'll be next up to have a pop.
Yes Pasty, they all knew the way we were going. It's such a pity they couldn't organise the team to win enough games.
Dougie has had a go. He knew but he wouldn't play the same team twice and risk having a settled team who might have had time to gel and win a few more goal. A right set of bankers.
Having said that we all know who the biggest one is.
Just counting down the days now and wondering how it will all turn out. Pay day loans, car park in hock, no money for the tax man and no bidder with enough money to save the club.
Such is life.
About 6 months ago we'd be wary about a club making a move for Lennon. Now even the people who think he's hamstrung with the situation are thinking - How much you want for him?
Why not
An everything must go sale in the club shop. Warburton and left overs of the board on the tills hand the money over as a gift to the poor workers dumped on. There's going to be a sale sooner or later may as well do something with it now.
ok I know there's no chance of the board doing the tills. We wouldn't hang the youth team if they did it.
Being so bad on and off the pitch I think Lennon should go. If he isn't being paid how can we expect him to say. The lack of pay may mean he can go for nothing. Has he really done anything to mean we could do much worse without him?
Its the staff who i feel sorry for. Its a disgrace they are not being paid. The situation with the players. Looks like 2 months unpaid. Can they just leave for nothing in January?
Yes Benny the PFA will have advised them of their rights to walk away from all contracts and obligations I said a couple of weeks ago their agents were already asking around looking for alternatives in preparation for this.
Getting darker by the day all this.Anybody heard anything over Mr Gartsides health problems?
https://uk.linkedin.com/in/phil-gartside-40803652
The true cost is a lot larger than the 15 Million that Eddie wants. It vmay make the club unsaleable, so all the talk about the bidders needing to produce the cash quickly, is likely to fall on deaf ears.
Here is the latest update.
TIME is ticking down for potential buyers of Bolton Wanderers to prove they have the necessary cash to save the club from going into administration.
The HMRC is expected to serve a winding up order imminently for an unpaid tax bill of around £600,000, after which the Whites have just over a week’s breathing space to decide whether to enter into voluntary administration.
Talks continued last night aimed at resolving the issue but there remain reservations on the club’s part over the amount of borrowing involved in each deal currently on the table.
Even though Eddie Davies has agreed to waive his considerable loans, Wanderers still need £15million to survive the rest of the season with the current playing staff. Any prospective buyer would also have to reach an agreement with creditors who hold existing loans on the stadium, bringing the initial outlay to more like £25m.
They are thought to include Nucleus Finance, the company with which a short-term loan was agreed last summer of around £5.5million, vice-chairman Brett Warburton, who put in £2.5million to cover wages, and another secured loan of around £1.5m, provided by shareholders.
The winding-up order could be quickly rectified should a takeover be given the go-ahead but with HMRC notoriously aggressive creditors and no available cash to pay the bill, administration would be the only realistic solution if an agreement is not reached soon.
Once issued, a petition will be made to the High Court for a hearing and a statement will be posted publicly – which could mean external services owed money by the club withdraw their business.
Wanderers showed they were scaling back their costs at the weekend when players did not stay together at a hotel the night before the 3-2 defeat to Cardiff City, as has become the norm since Neil Lennon’s arrival as manager.
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That also meant players did not arrive at the Macron Stadium via coach a few hours before kick-off, turning up individually in their own vehicles.
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At present there are two main parties still in talks with Wanderers over a takeover, The Sports Shield Investment group led by Dean Holdsworth and a consortium of businessmen from the Far East.
Meanwhile, as if things couldn’t get much worse for the Whites, manager Neil Lennon was 2/1 with some bookmakers last night to take up the vacant managerial role at Championship rivals Reading.
I think we all accept that the club will go into administration. The tax man wants his money and it's looking more likely that money won't be forthcoming from would be investors.
The clock ticks towards ARMAGEDDON.
Has anyone got any ideas as to what will happen after that?
A buy out of administration by whoever whenever. Ed could buy it out so could the sick one any of the current alleged bidders maybe somebody new would crop up.
Sequels are popular perhaps we will be bought and see Armageddon 2 by next summer (not a joke).
If nobody wanted to buy it out of administration somebody gets the job of nailing lots of For Sale by auction boards up on each bit of the old empire. Accrington Who ?
Was told about the hotel business at weekend. Mental. The club has their own hotel, just been throwing money away.
Big day tomorrow
What say they have pre printed rehearsal notes for press day.
Thou shall all speak from the same hymn sheet
Thou will not add remove or think of what to say apart from what is on the hymn sheet.
That concludes the repeat of what you know already. What giant mushroom ? we thought you knew about that at the Beano it's here
Just a little more bad news for the 300 employees of BWFC.
It may not be a very happy Christmas for all who work for the club.
Did someone once say that Gartside was a great Chairman or words to that effect? Couldn't have got it more wrong but still doesn't admit it.
Here is the article.
MORE than 300 staff at Bolton Wanderers could go without pay this Christmas as the financial disaster continues to bite at the Macron Stadium.
No guarantees have been given to administrative or managerial personnel that they will receive their December pay packet, which is due on the 21st of the month.
The Bolton News understands that the matter hangs on whether the club can find a new buyer in the next seven days, although other short-term funding options are being investigated, which are thought to involve the hotel and offices adjoining the ground.
Senior players went without pay in November, with the PFA called in 24 hours later to an emergency meeting to explain their options.
The union has said it would step in to help with salaries but only if Wanderers were to go into administration, which would be a strong possibility if new ownership is not agreed quickly as a winding up order from HMRC is imminent.
Share article
They are paid at the end of the month, but like the non-footballing staff, have also been given no guarantees that they will be paid for either November or December.
Despite the problems, the whole of Neil Lennon’s squad turned out for the Junior Whites Christmas party tonight.
At least the Neil Lennon and the squad are sticking together for now and supporting the Junior Whites. Well done to them.
Benny, no wonder De-Vere Hotels pulled out of the business. They must have known this was going to happen.
Pasty the vultures are already circling in the sky's above Rivington Pike, waiting for the inevitable.
I feel sorry for all the guys who will lose their jobs, that is excepting the Dark one.
I don't want to envisage life without the Wanderers. I have been a fan for over sixty years. During that time we have had some very lean times but nothing like this.
The big word is could. If nothing happens and nobody comes forward before the 21st it's no money for staff and even worse for the clubs point of view HMRC.
"I feel sorry for all the guys who will lose their jobs, that is excepting the Dark one. "
- who of course could lose his life instead.
Depending on the outcome in the worse case scenario I would hope Ed grants the rights to the name I'd struggle with a new name messed up like Wimbledon and MK even the new one isn't the same it doesn't feel like the rise from the ashes it should be for the fans left behind.
I'd take going back to Christ Church FC but some fancy branding of a new company Horwich Hawks I'd struggle.
Still that's worse case the elephant in the room has yet to put in an appearance the big ED loan contracts are in the trunk.
HMRC might not wait until the 21st. If they feel there is no money coming in and none likely to appear they can apply for a winding up order now. I suspect they may do it next week unless we see something concrete about either a preferred bidder or some sort of agreement about how the club is to be financed in the coming months.
A 7day notice may have been or being served this week do you think there will an announcement by the club. No you'll have to wait until it appears in publicly available documents then it would be very quick as x number of days may have already passed.
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Could this be the beginning of the end.
Page 1 of 3
posted on 8/12/15
Meanwhile over at the beano a sports reporter is worried over his shoddy reporting.
For failing to spot the crook in the box the local rag may have had a national biggie on its hands if the intrepid one had told the boss who the ex con was before letting the picture loose on the bright and observant local folk
It has been noticed he again failed to report the Dean Holdsworth SSI group are unable to secure any borrowing which is no surprise given the infancy of the group. The minor tax bill of the odd 570k and rising is a clear indication the delaying of reports being filed were merely a delaying tactic by an unscrupulous business management technique to buy some time which failed and will not go down to well.
Ach... she cannae take much more of it captain..... If I give her any more she'll blow
A..... Ar.......Arm...ARMA.......... it’s here Abandon ship
posted on 8/12/15
At this stage I would accept administration and just hope we start next season in league one debt free and with a sustainable wage bill and rebuild the club that way like Southampton did.
posted on 8/12/15
Morning all,told you four years ago Benny this was coming.Years of lies by the board regarding finances,a chairman who brands the fans numpties when we question his leadership,the chairman accused of financial irregularities and perjury.This isn't going to end well.
posted on 8/12/15
So this is a worst case scenario plan.
Least they are planning.
Sound the doom klaxon when it happens though.
posted on 8/12/15
We are just another club in the rear view mirror of gm he'll be next up to have a pop.
posted on 8/12/15
Yes Pasty, they all knew the way we were going. It's such a pity they couldn't organise the team to win enough games.
Dougie has had a go. He knew but he wouldn't play the same team twice and risk having a settled team who might have had time to gel and win a few more goal. A right set of bankers.
Having said that we all know who the biggest one is.
Just counting down the days now and wondering how it will all turn out. Pay day loans, car park in hock, no money for the tax man and no bidder with enough money to save the club.
Such is life.
posted on 8/12/15
Lennon to Reading ?
posted on 8/12/15
About 6 months ago we'd be wary about a club making a move for Lennon. Now even the people who think he's hamstrung with the situation are thinking - How much you want for him?
posted on 8/12/15
Why not
An everything must go sale in the club shop. Warburton and left overs of the board on the tills hand the money over as a gift to the poor workers dumped on. There's going to be a sale sooner or later may as well do something with it now.
ok I know there's no chance of the board doing the tills. We wouldn't hang the youth team if they did it.
posted on 8/12/15
Being so bad on and off the pitch I think Lennon should go. If he isn't being paid how can we expect him to say. The lack of pay may mean he can go for nothing. Has he really done anything to mean we could do much worse without him?
posted on 8/12/15
Its the staff who i feel sorry for. Its a disgrace they are not being paid. The situation with the players. Looks like 2 months unpaid. Can they just leave for nothing in January?
posted on 8/12/15
Yes Benny the PFA will have advised them of their rights to walk away from all contracts and obligations I said a couple of weeks ago their agents were already asking around looking for alternatives in preparation for this.
posted on 8/12/15
Getting darker by the day all this.Anybody heard anything over Mr Gartsides health problems?
posted on 8/12/15
https://uk.linkedin.com/in/phil-gartside-40803652
posted on 9/12/15
The true cost is a lot larger than the 15 Million that Eddie wants. It vmay make the club unsaleable, so all the talk about the bidders needing to produce the cash quickly, is likely to fall on deaf ears.
Here is the latest update.
TIME is ticking down for potential buyers of Bolton Wanderers to prove they have the necessary cash to save the club from going into administration.
The HMRC is expected to serve a winding up order imminently for an unpaid tax bill of around £600,000, after which the Whites have just over a week’s breathing space to decide whether to enter into voluntary administration.
Talks continued last night aimed at resolving the issue but there remain reservations on the club’s part over the amount of borrowing involved in each deal currently on the table.
Even though Eddie Davies has agreed to waive his considerable loans, Wanderers still need £15million to survive the rest of the season with the current playing staff. Any prospective buyer would also have to reach an agreement with creditors who hold existing loans on the stadium, bringing the initial outlay to more like £25m.
They are thought to include Nucleus Finance, the company with which a short-term loan was agreed last summer of around £5.5million, vice-chairman Brett Warburton, who put in £2.5million to cover wages, and another secured loan of around £1.5m, provided by shareholders.
The winding-up order could be quickly rectified should a takeover be given the go-ahead but with HMRC notoriously aggressive creditors and no available cash to pay the bill, administration would be the only realistic solution if an agreement is not reached soon.
Once issued, a petition will be made to the High Court for a hearing and a statement will be posted publicly – which could mean external services owed money by the club withdraw their business.
Wanderers showed they were scaling back their costs at the weekend when players did not stay together at a hotel the night before the 3-2 defeat to Cardiff City, as has become the norm since Neil Lennon’s arrival as manager.
Promoted stories
Recommended by
That also meant players did not arrive at the Macron Stadium via coach a few hours before kick-off, turning up individually in their own vehicles.
Share article
At present there are two main parties still in talks with Wanderers over a takeover, The Sports Shield Investment group led by Dean Holdsworth and a consortium of businessmen from the Far East.
Meanwhile, as if things couldn’t get much worse for the Whites, manager Neil Lennon was 2/1 with some bookmakers last night to take up the vacant managerial role at Championship rivals Reading.
posted on 9/12/15
I think we all accept that the club will go into administration. The tax man wants his money and it's looking more likely that money won't be forthcoming from would be investors.
The clock ticks towards ARMAGEDDON.
Has anyone got any ideas as to what will happen after that?
posted on 9/12/15
A buy out of administration by whoever whenever. Ed could buy it out so could the sick one any of the current alleged bidders maybe somebody new would crop up.
Sequels are popular perhaps we will be bought and see Armageddon 2 by next summer (not a joke).
If nobody wanted to buy it out of administration somebody gets the job of nailing lots of For Sale by auction boards up on each bit of the old empire. Accrington Who ?
posted on 9/12/15
Was told about the hotel business at weekend. Mental. The club has their own hotel, just been throwing money away.
posted on 9/12/15
Big day tomorrow
What say they have pre printed rehearsal notes for press day.
Thou shall all speak from the same hymn sheet
Thou will not add remove or think of what to say apart from what is on the hymn sheet.
That concludes the repeat of what you know already. What giant mushroom ? we thought you knew about that at the Beano it's here
posted on 9/12/15
Just a little more bad news for the 300 employees of BWFC.
It may not be a very happy Christmas for all who work for the club.
Did someone once say that Gartside was a great Chairman or words to that effect? Couldn't have got it more wrong but still doesn't admit it.
Here is the article.
MORE than 300 staff at Bolton Wanderers could go without pay this Christmas as the financial disaster continues to bite at the Macron Stadium.
No guarantees have been given to administrative or managerial personnel that they will receive their December pay packet, which is due on the 21st of the month.
The Bolton News understands that the matter hangs on whether the club can find a new buyer in the next seven days, although other short-term funding options are being investigated, which are thought to involve the hotel and offices adjoining the ground.
Senior players went without pay in November, with the PFA called in 24 hours later to an emergency meeting to explain their options.
The union has said it would step in to help with salaries but only if Wanderers were to go into administration, which would be a strong possibility if new ownership is not agreed quickly as a winding up order from HMRC is imminent.
Share article
They are paid at the end of the month, but like the non-footballing staff, have also been given no guarantees that they will be paid for either November or December.
Despite the problems, the whole of Neil Lennon’s squad turned out for the Junior Whites Christmas party tonight.
At least the Neil Lennon and the squad are sticking together for now and supporting the Junior Whites. Well done to them.
posted on 9/12/15
Benny, no wonder De-Vere Hotels pulled out of the business. They must have known this was going to happen.
Pasty the vultures are already circling in the sky's above Rivington Pike, waiting for the inevitable.
I feel sorry for all the guys who will lose their jobs, that is excepting the Dark one.
I don't want to envisage life without the Wanderers. I have been a fan for over sixty years. During that time we have had some very lean times but nothing like this.
posted on 9/12/15
The big word is could. If nothing happens and nobody comes forward before the 21st it's no money for staff and even worse for the clubs point of view HMRC.
"I feel sorry for all the guys who will lose their jobs, that is excepting the Dark one. "
- who of course could lose his life instead.
posted on 9/12/15
Depending on the outcome in the worse case scenario I would hope Ed grants the rights to the name I'd struggle with a new name messed up like Wimbledon and MK even the new one isn't the same it doesn't feel like the rise from the ashes it should be for the fans left behind.
I'd take going back to Christ Church FC but some fancy branding of a new company Horwich Hawks I'd struggle.
Still that's worse case the elephant in the room has yet to put in an appearance the big ED loan contracts are in the trunk.
posted on 9/12/15
HMRC might not wait until the 21st. If they feel there is no money coming in and none likely to appear they can apply for a winding up order now. I suspect they may do it next week unless we see something concrete about either a preferred bidder or some sort of agreement about how the club is to be financed in the coming months.
posted on 9/12/15
A 7day notice may have been or being served this week do you think there will an announcement by the club. No you'll have to wait until it appears in publicly available documents then it would be very quick as x number of days may have already passed.
Page 1 of 3