Peters Opal Still Trading?

[Whitelighter]

If the company is still (trying?) trading, then it seems an odd move to shut their website down completely and just put up a notice of administration.

I understand you have to make it clear that the company was in Administration, but thoughtit should be wise to leave the rest of the site accesable even to sell off stock - assuming you were actually trying to resue the business.

I think things are looking a bit darker. I can't see who will have pockets deep enough to buy the business as a going concern. I suspect what is left will be sold off as lots and the rest burned....

 

[HappydaysAgain]

There are probably retention of title issues together with the fact that floating charges (no pun intended) will attach to the stock making it difficult to continue trading. I suspect some form of buyout will soon occur, probably by the existing management / Peters family.

 

[Major Catastrophe]

You mean like Deva Marine, who only recently removed the old site.

Mind you, they missed one reference to the old company at the bottom of this page.

 

[capnjack]

When I called Network Yacht Brokers last month they had taken over Deva's website, so Deva had not removed it, the administrators just sold it on, which is referred to at the bottom of the page Major. Apparently, Network took over the Chandlery and the Website but would not touch anything else, according to the conversation. /forums/images/graemlins/smile.gif

 

[capnjack]

Completely agree with you Jez, it does seem very odd that the Admin are not trading, in order to sell on as going concern. Sounds like it's being wound up.

 

[rubberduck]

I have seen this many times in business, unfortunately. I think it is receiver speak for forget it, to much trouble. /forums/images/graemlins/mad.gif

 

[Nautorius]

I heard that the Administrators are trying to punt the stock as a whole and have approached the Independent dealers to see if they want all the stock. Can't see Sealine/Ancaster being happy with that as it will reduce the new stock bought and hit second hand prices if they discount. One rumour was that Essex were interested (not sure if stock or business) but the contract with Fairline and their current stock situation may have ruled them out.

I also believe Ancaster do not want old stock as are committed to buying a lot of new stock (Sealine).

All rumour!

Cheers

Paul /forums/images/graemlins/smile.gif

 

[Deleted User YDKXO]

Got to be an opening for somebody to punt Azimut in the some areas of the UK market now that Peters have gone and assuming Med Sale retain the main distribution rights? /forums/images/graemlins/wink.gif

 

[Questor]

All sorts of rumours are being banded about in Chi this weekend gone. Loads of boats have now been "repossessed" by Lombard. There is quite an eerie feel to the place. Offices / Shipyard / Chandlery shut.

I am surprised so many boats were mortgaged given the company has been built up over the last 35 years.

I saw Mr & Mrs Angry around lunchtime yesterday outside the main offices. He was carrying a bunch of documents and was just "stomping" around the place looking dangerous, while she endeavoured to rip Mr Peters' plaque off his parking space. She appeared to try very hard, but did not achieve her desired result. I guess they were yet another family that have lost a deposit or worse.

Jez, I think that things are looking a lot darker than even you think.

 

[Whitelighter]

I can't see EBY having anything to do with it. They are big enough, have a base for Fairline in SOuthampton already and simply don't need the committment. IMHO

 

[Gludy]

When companies do not react to market forces and maybe put pride before the fall by, in this case, not staying a dealer for Fairline they often trade on way past what they should and wait until there are no options left.

All the evidence points more and more that way in this case and it does look as if it will not be salvaged.

I really feel sorry for all those who have lost deposits, jobs and in some cases most of the cost of a boat. It really does drive home the meaningless nature of a client account. I hope it spells the end of the standard client account within the marine industry because clients simply refuse to accept the risk.

 

[Nautorius]

Jez,

I think it was certain stock that they were considering. If they buy it cheap enough they have the ability to knock it out fast!

I wondered about Rodman for them though?

Cheers

Paul /forums/images/graemlins/smile.gif

 

[Whitelighter]

It would makes sense. But then, Ancasta have a relationship through Rodman Yachts, so maybe that is a more logical move for Rodman