benjenbav
Well-known member
Well I have paid up! Last one was a lift and scrub the week before Peters went into admin. Letter asked me to send cheque payable to "B A Peters plc (in administration)".
Peters - His message has changed?
- Thread starter Gludy
- Start date
Gludy
Active member
If that the case then the financial control of the business has been deplorable - I hope it is true and that all those whp paid deposits and stage payments get every penny back.
D3B
New member
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i hear that Peters biz fell apart as the recievables were mis managed and they were owed mucho dosh from third parties.
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If thats is the case then the funds should be collected and be enough to pay of all those who lost their deposits.
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I wonder how much of the money owed may have been from warranty issues with both the Fairline and Sealine brands.
Dont think there are many mass produced boats theses days that dont have some warranty work needed and the costs would have recovered from the manufacturer.
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i hear that Peters biz fell apart as the recievables were mis managed and they were owed mucho dosh from third parties.
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If thats is the case then the funds should be collected and be enough to pay of all those who lost their deposits.
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I wonder how much of the money owed may have been from warranty issues with both the Fairline and Sealine brands.
Dont think there are many mass produced boats theses days that dont have some warranty work needed and the costs would have recovered from the manufacturer.
lovezoo
New member
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deserves a dong really. /forums/images/graemlins/smile.gif
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And where exactly would you suggest putting that "dong"?
deserves a dong really. /forums/images/graemlins/smile.gif
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And where exactly would you suggest putting that "dong"?
Gludy
Active member
I am sorry but this is a public forum and I think I should desist from a straight up answer to that question /forums/images/graemlins/smile.gif
No Regrets
Active member
Well he was a tradesman wasn't he?
lovezoo
New member
Is this what they mean by "passage planning"?
KevB
Active member
Yes, not sure their accounts we on the ball. About 5 months ago I got a £800 invoice for work carried out 9 months previous!!
volvopaul
Well-known member
Brian Peters and Sam Newington go back a long way I have a friend in his late 60s whos business ran off Brian Peters setting up BA Peters and his company too in the marine trade.
What I am trying to explain is that without Brian Fairline would not have been anywhere near the company that it was BEFORE the management buyout from the Renwick group, basically when it was still under the wing of Sam and his directors after he retired.
No way do I condone the way he ran his company for the last 2 years or could put it AF, after Fairline however I would have told Carter to get stuffed too, look how many other small Fairline dealers have gone bust or finished/swallowed up by bigger others in the trade, Marine sales, pj yacht sales, another outfit in Weymouth, they are no more and now we recently see all other offices shut and one central agent in I presume rented office space in Rn K marines yard, wheres all that going to be in a years time I wonder?.
I do feel sorry for all those who have lost out after the BAP demise perhaps he should have wound it up then or sold/split it up into smaller outlets instead of big expanding programme bbefore it all went too far, I think Fairline should have been more thankfull towards him at the end, what a pathetic way to end probably the longest marine agreement in history, its the sort of thing a low life company does to its staff when they cant face the real world, certainly not the way they should have.
I would be interested to see how good Fairline are these days with warranty issues and how good todays dealer handles its warranty issues.
On the subject of excessive borrowing I wonder if the massive amount borrowed for the buy out of Fairline will ever be paid back? it only takes a bad year or crash elsewhere to set the disaster ball rolling again.
What I am trying to explain is that without Brian Fairline would not have been anywhere near the company that it was BEFORE the management buyout from the Renwick group, basically when it was still under the wing of Sam and his directors after he retired.
No way do I condone the way he ran his company for the last 2 years or could put it AF, after Fairline however I would have told Carter to get stuffed too, look how many other small Fairline dealers have gone bust or finished/swallowed up by bigger others in the trade, Marine sales, pj yacht sales, another outfit in Weymouth, they are no more and now we recently see all other offices shut and one central agent in I presume rented office space in Rn K marines yard, wheres all that going to be in a years time I wonder?.
I do feel sorry for all those who have lost out after the BAP demise perhaps he should have wound it up then or sold/split it up into smaller outlets instead of big expanding programme bbefore it all went too far, I think Fairline should have been more thankfull towards him at the end, what a pathetic way to end probably the longest marine agreement in history, its the sort of thing a low life company does to its staff when they cant face the real world, certainly not the way they should have.
I would be interested to see how good Fairline are these days with warranty issues and how good todays dealer handles its warranty issues.
On the subject of excessive borrowing I wonder if the massive amount borrowed for the buy out of Fairline will ever be paid back? it only takes a bad year or crash elsewhere to set the disaster ball rolling again.
Gludy
Active member
I do not know the details like you do but you seem to be making some big assumptions about where Fairline would have been without Peters.
When I had my fairline peters just could not provide the parts back up service despite them being in stock at Fairline. The smallest part could take months.
Sure one time Fairline needed Peters but the idea that without some sort of great thing petetrs had Fairline in future will be damaged is a big assumption. People like Esses Botyards are now Fairline dealers and probably offer a better service than peters ever did.
Whilst I do not know, my best stab as to why it went wtong was because of wrong strategic decisions plus poor management control. I wonder how Peters could afford the time to chair a trade organisation when his company was in such dire straits.
Fairline is a strong brand and i have little doubt will survive - would i invest in them? No, my confidence does not go that far /forums/images/graemlins/smile.gif
When I had my fairline peters just could not provide the parts back up service despite them being in stock at Fairline. The smallest part could take months.
Sure one time Fairline needed Peters but the idea that without some sort of great thing petetrs had Fairline in future will be damaged is a big assumption. People like Esses Botyards are now Fairline dealers and probably offer a better service than peters ever did.
Whilst I do not know, my best stab as to why it went wtong was because of wrong strategic decisions plus poor management control. I wonder how Peters could afford the time to chair a trade organisation when his company was in such dire straits.
Fairline is a strong brand and i have little doubt will survive - would i invest in them? No, my confidence does not go that far /forums/images/graemlins/smile.gif
Barry777
Member
Sealine....or so it was suggested to me
volvopaul
Well-known member
No big assumptions I am talking about the days when it all started and a 32ft boat was huge in those days, its all grown from then but Brian was the driving force he would have worked 8 days a week so im told if there was such a thing, maybe its the modern world we now have to live in and put up with that drove him down, remember hes old school today everything is run by accountants that hevent got aclue what its like to get there hands dirty, and at grass roots level thats where the money comes from.
Richard10002
Well-known member
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its all grown from then but Brian was the driving force he would have worked 8 days a week so im told if there was such a thing, maybe its the modern world we now have to live in and put up with that drove him down, remember hes old school today everything is run by accountants that hevent got aclue what its like to get there hands dirty, and at grass roots level thats where the money comes from.
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Hands on kind of guys are great for running small businesses where they can remain hands on, and the face that people see.
Growing from a small, tight knit, unit, to a big conglomerate, requires different skills, which are very much hands off - managing the people you pay to be the new hands on, managing the money, defining strategy, and long term planning.
Strikes me he has likely become a rich political animal, and will now say whatever it takes to save face at speech time - rather than being the honest hands on kind of guy he used to be - there is no way that the red diesel issue caused even a glitch in the downfall of Peters Opal. Much better to keep your mouth shut and let time take care of things.
its all grown from then but Brian was the driving force he would have worked 8 days a week so im told if there was such a thing, maybe its the modern world we now have to live in and put up with that drove him down, remember hes old school today everything is run by accountants that hevent got aclue what its like to get there hands dirty, and at grass roots level thats where the money comes from.
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Hands on kind of guys are great for running small businesses where they can remain hands on, and the face that people see.
Growing from a small, tight knit, unit, to a big conglomerate, requires different skills, which are very much hands off - managing the people you pay to be the new hands on, managing the money, defining strategy, and long term planning.
Strikes me he has likely become a rich political animal, and will now say whatever it takes to save face at speech time - rather than being the honest hands on kind of guy he used to be - there is no way that the red diesel issue caused even a glitch in the downfall of Peters Opal. Much better to keep your mouth shut and let time take care of things.
volvopaul
Well-known member
Its not only BAP that were struggling and have gone to the wall, believe me there will be more casualties to follow on not necessarily as large as BAP however I can see it coming, Red diesel or not.
KevB
Active member
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People like Esses Botyards are now Fairline dealers and probably offer a better service than peters ever did.
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I ALWAYS got first class service from the boatyard at Peters and not sure who to trust my servicing to now?
From a previous experience of a friend, (admittedly a few years back) I wouldn't buy from EBY.
People like Esses Botyards are now Fairline dealers and probably offer a better service than peters ever did.
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I ALWAYS got first class service from the boatyard at Peters and not sure who to trust my servicing to now?
From a previous experience of a friend, (admittedly a few years back) I wouldn't buy from EBY.
lazyliz
New member
One things for sure, the likes of Peters will not be facing financial ruin. They never do, just the poor sods who made him his fortune in the first place. Staff and punters.
hshaky
New member
In the list I saw Fairlines Carter get stuffed..... can I supply the stuffings please .... could not happen to a better and more deserving chap.
Hope for the sake of the staff that he can afford the buy out repayments
Hope for the sake of the staff that he can afford the buy out repayments
jfm
Well-known member
Confused by this hostility to Carter/MBO. The amount borrowed was carefully considered and the company is paying it back. Not at all in arrears. Staff haven't been laid off. New employees have been taken on. A whole new factory (on their Nene Valley site) has been built, will be finished in a month or two, and that will house an extra production line and employ more boat construction people.
Previously the company was owned by a South African gentleman for whom it was a sideshow, not at all his main business interest, so it never got the same attention from its owner (he hardly ever visited the factory afaik)
As for borrowing to buy an expensive investment, isn't that what you all do when you take out a mortgage to buy a house?
I can't understnad what is people's objection to things like the Fairline MBO. Who has it harmed?
Previously the company was owned by a South African gentleman for whom it was a sideshow, not at all his main business interest, so it never got the same attention from its owner (he hardly ever visited the factory afaik)
As for borrowing to buy an expensive investment, isn't that what you all do when you take out a mortgage to buy a house?
I can't understnad what is people's objection to things like the Fairline MBO. Who has it harmed?
