17 replies to this topic

[lingard]

But who is next? At this rate will there be anyone left in Cumbria?

Barrow looking dodgy, Workington even more so and Whitehaven gone bust.

We really are expanding the game well.

I thought the abolishment of P&R was supposed to get us away from overspending to attain SL status.

The game is dying and the idiots in charge are not bothered.

[Matt J]

You got a link to a story Lingard?

[DAZROVER1985]

But who is next? At this rate will there be anyone left in Cumbria?

Barrow looking dodgy, Workington even more so and Whitehaven gone bust.

We really are expanding the game well.

I thought the abolishment of P&R was supposed to get us away from overspending to attain SL status.

The game is dying and the idiots in charge are not bothered.

i believe they have plans to restart the club a few days after ceasing the initial company, must be a way of writing off the debts

[Matt J]

http://www.newsandst...port/rugbyunion

[Jaapno6]

http://www.newsandst...port/rugbyunion

[jamescolin]

i believe they have plans to restart the club a few days after ceasing the initial company, must be a way of writing off the debts

If you go into Administration then you cease trading as that company. ALL the assets are taken and then the creditors and debtor are looked at as well as fixed assets.Usually creditors get so much in the pound. The difficulty with starting up again is that you get nothing from former club but have to find new capital. If the same people arein charge they have great difficulty in establishing credibility. Better than liquidation but not much.

[Griff]

Surely Administration is getting some blokes in to run the company properly for you with a view to rescuing the company.

[Matt J]

Surely Administration is getting some blokes in to run the company properly for you with a view to rescuing the company.

Whats the difference between administration and a creditors voluntary agreement (CVA) then?

[Rovers2010]

So where does the money go that we spend there on Sunday? Presumably there are suppliers that are going to be unpaid when they go into administration?

Maybe the RFL should collect all proceeds and make sure we get our half, assuming its a shared gate!

[PJT]

Surely Administration is getting some blokes in to run the company properly for you with a view to rescuing the company.

No, basically it means they can't be arseed to pay current debts so they write them off for next to nothing and start again.

They have probably been on the blower to Oldham and Chris Hamilton who do it every couple of years.

[oldham_fan_sam]

No, basically it means they can't be arseed to pay current debts so they write them off for next to nothing and start again.

They have probably been on the blower to Oldham and Chris Hamilton who do it every couple of years.

can i just state the current club est 1997 has never been into administration and folded, we have always paid our debts...not that fans are happy about our constant meetings with HMRC but we have paid them, as is the case with the current winding up order, dont want to feel like im nick picking but oldham seem to get lumbered in with clubs who have faced winding up orders and decided to fold and start again aaaaaaaaaaaaaaaaanyway good luck for the final see you there and hopefuly see you next season, what a difference 4 years can make, congrats again!

[jamescolin]

Whats the difference between administration and a creditors voluntary agreement (CVA) then?

Just to clarify. A CVA as stated is a creditors Vouluntary Arrangement. BUT this is what it says. You cannot go there unless the creditors vote for the arrangement. Then they are usually agreeing to a 10p/20p in the pound pay back. In recent time clubs have gone down this path but have had trouble with the Inland Revenue who want their full amount. If that is the case the the Law Courts become involved. CVA ismuch better for clubs as it curtails agressive action by creditors. The directors stay in control and they get some breathing space. It also helps your cash flow as you haven't VAT or PAYE until CVA approved.The directors avoid personal action and the arrangements are flexible. The big thing is getting the majority of the creditors to accept the situation. Therefore you go into Administration and then persuade the creditors to accept a CVA. I reckon this is the path that Whitehaven are taking. If the creditors say NO then they are in big trouble, as the Administreator is in control and handles all finances including his fee. Directors are personally involved in the debt and big lawyers fees will be payable. Hope that helps. Col

[Steve the Roughyed]

No, basically it means they can't be arseed to pay current debts so they write them off for next to nothing and start again.

They have probably been on the blower to Oldham and Chris Hamilton who do it every couple of years.

Sorry PJT that is absolute nonsense. Oldham RLFC 1997 has never been in administration but has had to fight off winding up orders brought about by HMRC on more than one occasion.. However that has been done by paying the debts owed unlike several other clubs including some promoted after beating us in Grand Finals who clearly couldn't pay their way at the time of gaining promotion.

You couldn't possibly be confusing us with our nearest and dearest in Rochdale could you?

Fourth time lucky next weekend please Roughyeds!

[dwb]

But who is next? At this rate will there be anyone left in Cumbria?

Barrow looking dodgy, Workington even more so and Whitehaven gone bust.

We really are expanding the game well.

I thought the abolishment of P&R was supposed to get us away from overspending to attain SL status.

The game is dying and the idiots in charge are not bothered.

barrow dodgy ?

[lingard]

Beating Cas doesn't give sound financial footings. Look at Wakefield.

[soss]

Beating Cas doesn't give sound financial footings. Look at Wakefield.

What on earth atre you talking about?????

Where and how did you get the info that Barrow are in trouble?
What has beating Cas got to do with Barrows financial state?

So give me details of our financial position and how we are in trouble!

Anyone can come on here spouting ###### with sweeping statements....BACK THEM UP WITH SOME FACTS!

[SRC]

But who is next? At this rate will there be anyone left in Cumbria?

Barrow looking dodgy, Workington even more so and Whitehaven gone bust.

Barrow posted a six figure profit last season and Workington are totally debt free from what I can gather. Haven is another matter I agree.

[Matt J]

Think this threads gone off its original starting point, and Barrow fans have corrected any rumours, so here's a good point to close it, but by all means start another thread about Whitehaven if you want to.