Fairline

[henryf]

Some good news for the company.

It's worth noting as well that during the entire process of finding a buyer the company continued to function and new Fairlines were delivered to customers. By all accounts 2 or 3 of the dealers worked closely with the factory to ensure customers were shielded from any ill effect. Fairline's reputation amongst buyers remains unscathed.

Henry

 

[jrudge]

Clearly the administrators are not going to appoint anyone with the expectation that it is 'unlikely to go well', so why do people feel the need to make such negative comments based on nothing?

As far as I know the administrators only consideration is what is the best deal for the creditors. The long term viability of the sold entity is not their concern.

Happy to be corrected if wrong.

 

[Hooligan]

As far as I know the administrators only consideration is what is the best deal for the creditors. The long term viability of the sold entity is not their concern.

Happy to be corrected if wrong.

Remember that creditors include the government, employees potentially if any wages due or indeed pension obligations and of course suppliers and longer term debt. I would be surprised if the deal did not involve a restructuring of the latter creditors unless they accepted a very big haircut and just got out at any price but for sure the suppliers will have been negotiated with re terms It does look like there have been immediate redundancies as part of the deal, which also suggests a plan and for sure any buyer that comes in one has to assume has a plan and I suspect that the buyer also had to inject some sort of liquidity as part of the creditor negotiation. I doubt we will get to see the plan for a while but one thing is for sure, things will fundamentally need to change to make this a profitable business - as much discussed in the various chats. I doubt this buyer is an opportunist. Seems to me the company is way past that point. We shall see.

 

[Snowgoose-1]

Deleted.