Fletcher in Problems?

[Scubadoo]

Seeing some Fletcher post below regarding buying new boats, I thought I should post something I heard while talking to an ex Fletcher dealer the other day. She explained that the MD of Fletcher has left the company and they are in liquidation - is this true or has this person got it completely wrong or is this old news.

If true it is a real shame to such a good company and product, used to own a Fletcher a few years ago.

RM.

 

[kimhollamby]

It's somewhat worse than that I'm afraid...the previous MD of Fletcher very sadly died recently immediately after laying off many of his staff and the company itself is in administration, although there is a degree of hope of still selling as a going concern.

Go to the bottom nav bar on any of the sites here, click on 'search on the right hand side and put Fletcher in the news search window to catch up on the news.

Alternatively, browse the news pages at Motor Boats Monthly by clicking on the magazine's name on the bottom nav bar or visit http://www.mbmclub.com

Associate Publisher ybw.com websites kim_hollamby@ipcmedia.com

 

[byron]

Fletchers! Had a few in my time and was very pally with Norman Fletcher too. Him and Shakey Bill (Shakespeares) were really responsible for power boating taking off in the UK. Closely followed by John Hardy and Shetlands who brought Cruisers down to a price that people could afford.

ô¿ô

 

[tcm]

\"died\"

The main man committed suicide. An excellent exampe to us all - when the going gets tough - top yourself. Selfish git. Everyone should check that they could live a happy life with half, a tenth, a hundredth of their current material wealth. the very happiest of days have almsot nothing to do with unloading a massive pile of cash - the financial problems could all have been solved, even by going bust and starting again. Now all his friends and family have to try and get over it, and they probably never really will. Sympathy for those he left behind - they didn't deserve that.

 

[Geoffs]

Re: \"died\"

I think you are bit hard on poor Mr Castle. There was probably more to his situation than we know about, someone doesn't take such action unless they are VERY desperate. He'd helped me with boaty things on the odd occassion, it's a shame he couldn't have been helped.

As you say, sympathies for those he left behind.

 

[Steve_D]

The last I heard was that it had been bids had to be in by the end of last week and that several were interested in the company as a going concern. I should think there will be an anouncement one way or the other.

Regards

Steve D

 

[ArthurWood]

Re: \"died\"

Agree with GeoffS. No-one kills themself without being mentally unbalanced to some degree.

 

[Deleted User YDKXO]

Re: "died"

Easy to say that when everything's rosy, matt. Sure, something like this is not worth topping yourself for but it probably shows how much the guy cared for his company, its employees and its creditors. The world is too full of shysters who go bust owing millions and start up a week later as if nothing's happened
My sympathies to his family

 

[jfm]

Re: Shysters or not?

Steady mike. There's nothing shysterish at all in being owner/CEO of a company that goes bust owing millions to creditors, and then starting up the next week like nothing happened. Provided no dishonesty etc etc. When you advance credit to a limited company, you know what the deal is. We have laws to ensure customers/creditors know they're dealing with a company, not an individual. The planet would never have arrived at where it now is if people were compelled to put their personal assets on the line in order to own a business venture, the risk/reward would be crazy in many cases

There's a free market. People are free to put their personal assets on the line or use a limited company, it's a free choice. If you yourself are in business and want to insist all your would-be counterparties put their personal assets on the line, you are free do so, and your counterparties are free to agree or disagree. But if they tell you no, and insist on limited liability, they are not shysters. A shyster is defined by his dishonesty etc, not by his wishing to limit his personal liability.

 

[Deleted User YDKXO]

Re: Shysters or not?

You know and I know that there are people out there who make a career out of setting up limited companies for the sole purpose of shafting creditors. My own company has been caught a couple of times by these individuals and although the amounts were not sufficient to damage my company, it is a salutary experience to attend a creditors meeting and sit next to people whose companies are going down as a result.
Yes, the free market depends on the concept of limited liability but also depends on the concept of trust and confidence between individuals and companies otherwise capitalism does'nt work

 

[jfm]

Re: Shysters or not?

Agreed. The people you refer to are shysters, if they did it intentionally. We're saying the same thing. I thort you were criticising ANYONE whose company went bust and who then started up again the next week, but if you were just criticising the subset of those people who are shysters, then fine

Incidentally, I trade with unlimited personal liability!

 

[BarryD]

Re: Shysters or not?

Got to say Mike that it takes a certain kind of business sense to lose your company when a single customer goes down, or when an order is not paid. Presumably they are suckered in by the promise of high payments, or run into delays in receiving payment until a subsequent deal is completed. I may be naive but I never traded in that manner, and the companies I work for now all ensure that their risk both in terms of industry sector and directly with companies is managed. We often turn down business because it skews the risk profile too much.

Yes there are shysters out there who set up and collapse companies just to make a quick buck - but like your firm does, limit your exposure and there is no problem.

I think the thread is in poor taste as the real reasons for the death of Fletchers MD will never be known. Whilst I find it hard to envisage life without my current income (and toys!), if it went pop then I know I would roll with it and take my skills elsewhere - so I'm sure that there is more to his situation than is published/known. IMHO, FWIW and BTW all given. Plus my condolances to his family who must be confused.

Re JFMs unlimited liability (next note), I feel a bad case of whiplash coming on... <G>, say about a third share in Braveheart, out of court of course.

Havoc, fire, confusion, and mis-trust, yes my work here is done...

Barry D

 

[david_e]

Re: Shysters or not?

Wouldn't disagree with your sentiments about risks in general, in fact they are well made, but how effective is the law in tackling the acknowledged shysters? There is a register of disqualified directors but how many more should be on it?

 

[jfm]

Re: BarryD plse send writ to company!

No Barry, you see mate it was my limited company driving that car when you (allegedly, hah) got whiplash, so the boat's safe <G>

 

[longjohnsilver]

Witness

As a witness to said accident i can say in all honesty that you jfm were entirely to blame and I am fully supporting Barry's huge damages claim. <G>

 

[jfm]

Nuthin to do with me guv

LJS: Please direct all correspondence on this matter to The Company Secretary, jfm Limited.