Fairline Gone Pop

Egret said:
Actually Bigplumbs is a very knowledgeable and clever person. You should think about what he is saying with respect to this thread.

I had an extra 15 years of work in a company, through his management efforts at a time of change /potential shutdown and after.

'Buyer' confidence was key to repeat and new business - wiith the hands on the tools at all levels being key to quality and timely delivery.
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Many thanks K for the support. I am sure I will get that wayfarer one day
 
SC35 said:
Bigplumbs has more boats than JFM does.
However …
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Look up look up and stare at the Sun. Come on old chap be your own person. For the record I have no issue with JFM. He mostly speaks a lot of sense. I can however see clear through corporate BS and big words.

I will happily say it here and believe me to anyone's face. It is called speaking your mind and speaking the truth. Try it some time.
 
All you corporate clever sorts were a little slow of the chocks at spotting this one. Look who broke the news on here. Make a note...... Must do better and pay better attention
 
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Bigplumbs said:
All you corporate clever sorts were a little slow of the chocks at spotting this one. Look who broke the news on here. Make a note...... Must do better and pay better attention
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To be fair, this was out in the press before your initial post. And I have no doubt that the corporate types you mention knew well before the press. Why have you got a axe to grind?
 
Bigplumbs said:
It is so sad that people think just because you have money you also have business ability. Think about that a while and see if you can work it out. I know not of JFM but I can manage to see beyond money. Many sadly cant they are like little Children looking up in awe of the great sun god.
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Dear oh dear... 😂
 
petem said:
I don't think there's any need for personal attacks on each other.

As for buyer confidence in Fairline, no customers order were left unfulfilled the last time the company went into administration and I have no reason to think that it will be any different this time.
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Ahh the voice of reason. :cool:


Slightly off topic, not so long ago people were asking why the forum seems to have lost characters (other than death) and isn't what it once was... Read this thread and you will know why.

This is a bunch of guys playing 'cock of the walk' with these ad hominem arguments, and i can't see anyone outside of the arguing pack, remotely interested.

Now, any updates of Fairline?
 
westernman said:
If a company is sold, then the acquirers are liable for all the debt and at least some of the staff, may be the majority are retained.
So if it is a going concern, then the creditors are happy and some of the staff are.

The owners/shareholders might not be happy as the sale price is likely to be very low - i.e. represent the value of the assets - the debt.
Quite often 1 pound is the selling price.

If there is no acquirer who is prepared to buy the company with its debts, then it will be broken up and the assets sold or possibly part of the company sold off separately as a going concern. This is to maximise the value to the creditors. Usually in this kind of scenario, every body loses except for the administrators and lawyers. Also there is usually nothing left for the shareholders. They come last for getting anything at all.

Just occasionally there is a deal with the creditors, where the company restructures the debt and the creditors take a hair cut. The creditors accept such a deal if they think they will be better off this way rather than the company being closed down and any assets sold.
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If I were to guess there are two scenarios. First, the order book is non existent. If this is the case then it is almost certainly curtains for the company. Secondly there is a decent order book and working capital has killed the company ie lack of working capital. In this case it is quite possible that a new buyer will come along, pay £1 for the business, restructure the debt and perhaps even ask for a WC line and/or inject some dip finance (if banks approve)/ or do a deal with suppliers ie supplier credit and then realise the order book. This gives them a chance to try and generate further orders when confidence returns (if it does). This will all depend on the order book. Personally I think boat building is a terrible business but history seems to show that these businesses are indeed bought by people. And killing a brand is usually quite difficult.
 
Hooligan said:
If I were to guess there are two scenarios. First, the order book is non existent. If this is the case then it is almost certainly curtains for the company. Secondly there is a decent order book and working capital has killed the company ie lack of working capital. In this case it is quite possible that a new buyer will come along, pay £1 for the business, restructure the debt and perhaps even ask for a WC line and/or inject some dip finance (if banks approve)/ or do a deal with suppliers ie supplier credit and then realise the order book. This gives them a chance to try and generate further orders when confidence returns (if it does). This will all depend on the order book. Personally I think boat building is a terrible business but history seems to show that these businesses are indeed bought by people. And killing a brand is usually quite difficult.
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Not the most scientific of replies but my 'gut feeling' is that Fairline will still be building boats this time next year though I can imagine a number of suppliers won't be too happy in the process. I think the brand is 'big' enough in the market for someone to snap it up at a low price. Whether that results in a fundamental shift in how it operates, I couldn't say..
 
"About 120 possible buyers" according to this video by boats.co.uk. No wonder the administrators are keeping it going. Perhaps they do know what they're doing after all, even if they aren't boat builders.

 
ari said:
"About 120 possible buyers" according to this video by boats.co.uk. No wonder the administrators are keeping it going. Perhaps they do know what they're doing after all, even if they aren't boat builders.

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One actual buyer might be even better than 120 possible buyers. Or, OTOH, might be worse.
 
ari said:
"About 120 possible buyers" according to this video by boats.co.uk. No wonder the administrators are keeping it going. Perhaps they do know what they're doing after all, even if they aren't boat builders.

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Nice to see a glimpse behind the scenes.. Leaving aside the current financial / ownership situation, I still think their boats are top class. This Squadron 58 in build looks good to my eyes..
 
Paul Rainbow said - I heard BigPlumbs has put an offer in. (#217).

I'm sure with his experience of construction, powerboats, and managing lots of people, he would run it very well.
 
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MapisM said:
I gave up watching several videos from this chap as soon as his constant use of salesman's cliché reached my max tolerance, but this beats them all.
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I like him. That said he is based just down the road from my home town. But I like his cheeky enthusiasm and generally his videos give enough information but are still fun.. Good enough for me.
 
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