Magnum
RIP
OK cheers.
Peters Opal....
- Thread starter KevB
- Start date
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Deleted User YDKXO
Guest
Nice new AZ62S sitting outside Peters office in Cala d'Or with a Lombard notice on it!
MedDreamer
Active member
I think its very rare that a buyer appears at the last moment. Potential buyers are usually talking to the Administrators at the earliest possible stage to try and keep it a "going concern".
From the outside it looks like the administrators have been preparing for liquidation - laying off nearly all of the staff etc. If there is to be a sale at this stage it will probably be an "inside job", selling the healther parts to existing owners/managers but even that is unlikely IMHO.
As for an outside buyer, why would anyone want to buy them? Other brokers can take over the dealerships without having to take on any of Peters liabilities and the stock boats would be a burden at this time of year. They don't seem to have any other assets worth considering
All IMHO of course
From the outside it looks like the administrators have been preparing for liquidation - laying off nearly all of the staff etc. If there is to be a sale at this stage it will probably be an "inside job", selling the healther parts to existing owners/managers but even that is unlikely IMHO.
As for an outside buyer, why would anyone want to buy them? Other brokers can take over the dealerships without having to take on any of Peters liabilities and the stock boats would be a burden at this time of year. They don't seem to have any other assets worth considering
All IMHO of course
Gludy
Active member
I agree with all that MedDreamer.
Actions from the outset have been to liquidate.
Also, as you say, what is there to buy but a bad start to a new business venture.
In the end the dealerships will be shared out, capacity wil be taken out of the industry to meet a smaller market demand ...... its simple adjustment and those that are poorly managed go first.
Actions from the outset have been to liquidate.
Also, as you say, what is there to buy but a bad start to a new business venture.
In the end the dealerships will be shared out, capacity wil be taken out of the industry to meet a smaller market demand ...... its simple adjustment and those that are poorly managed go first.
Whitelighter
Active member
I can see most of the dealerships going to Ancasta.
They already have Bavaria motorboats, so letting them have the yachts as well makes sense. Ditto with Rodman, they already have Rodman Yacht, so it would be easy for the factory to give them Rodman Fishers as well. Sealine have already gone to Ancasta so that leaves Azimut (medsale?, or maybe Essex?), Island Packet who are small enough that one of the other independants could take them on and Legend.
If that is what happens, then Ancasta will be huge, and a forse in the market. It will put anormous pressure on their cash flow, so they will have to be careful not to be greedy.
They already have Bavaria motorboats, so letting them have the yachts as well makes sense. Ditto with Rodman, they already have Rodman Yacht, so it would be easy for the factory to give them Rodman Fishers as well. Sealine have already gone to Ancasta so that leaves Azimut (medsale?, or maybe Essex?), Island Packet who are small enough that one of the other independants could take them on and Legend.
If that is what happens, then Ancasta will be huge, and a forse in the market. It will put anormous pressure on their cash flow, so they will have to be careful not to be greedy.
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Deleted User YDKXO
Guest
You're right, Martyn. I was involved in buying the assets of a company in administration a few years back and the Administrator told us that he allowed only a few days to ascertain whether it could be sold as a going concern before looking for offers for the assets
My guess is that any valuable assets Peters had were transferred out of the company before it went bust but some buyers might consider the name itself as an asset worth buying and there may be other assets such as pre ordered production slots with manufacturers or pre booked exhibition space. As you say, most likely scenario is phoenix co with ex directors/managers as owners
My guess is that any valuable assets Peters had were transferred out of the company before it went bust but some buyers might consider the name itself as an asset worth buying and there may be other assets such as pre ordered production slots with manufacturers or pre booked exhibition space. As you say, most likely scenario is phoenix co with ex directors/managers as owners
petem
Well-known member
I have reservations about Chi being a good place to sell boats from. IMHO the perfect sales site should:
a) be near a motorway
b) have vast areas of under cover storage
c) be on or very close to the water (with no speed limits) and with lift-in lift-out facilities.
As someone said earlier, you'd be better off selling the whole of the Chi site for residential development.
a) be near a motorway
b) have vast areas of under cover storage
c) be on or very close to the water (with no speed limits) and with lift-in lift-out facilities.
As someone said earlier, you'd be better off selling the whole of the Chi site for residential development.
KevB
Active member
Talking to the locals it seems there are a few offers in for the 'business' as a whole and also lots of offers for the bits. I believe they will add up all the bit offers and if they total more than the offers for the business as a whole they will take the individual bit offers. Seems the road transport 'bit' has shown the most interest? All hear say of course but it came from a very reliable source.
KevB
Active member
[ QUOTE ]
As someone said earlier, you'd be better off selling the whole of the Chi site for residential development.
[/ QUOTE ]
Peters don't own any of the offices, they just lease them off Premier.
As someone said earlier, you'd be better off selling the whole of the Chi site for residential development.
[/ QUOTE ]
Peters don't own any of the offices, they just lease them off Premier.
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Deleted User YDKXO
Guest
That'll be Birmingham then with Gas Street Basin as the testing area /forums/images/graemlins/smile.gif
btow
New member
[ QUOTE ]
I have heard the administrators are making their way to Spain as I type and it's not to congratulate Brian on his recent marriage.....
[/ QUOTE ]
Kevb, please stop writing <tsk tsk> and go back to work with the warranties....
I have heard the administrators are making their way to Spain as I type and it's not to congratulate Brian on his recent marriage.....
[/ QUOTE ]
Kevb, please stop writing <tsk tsk> and go back to work with the warranties....
btow
New member
[ QUOTE ]
Peters Spain is up for sale... does someone likes to buy it?
- direct information form the staff in Spain, they are told to search for a new job-
[/ QUOTE ]
What about your mother? It is for sale?
Peters Spain is up for sale... does someone likes to buy it?
- direct information form the staff in Spain, they are told to search for a new job-
[/ QUOTE ]
What about your mother? It is for sale?
Whitelighter
Active member
Who hell you?
MedDreamer
Active member
Disgruntled former (Spanish?) employee perhaps. That being the case their discontent is understandable but their posts are misguided.
Most first posts are a bit gentler than that.
Most first posts are a bit gentler than that.
[2068]
...
Your sister. She good? Maybe she do cleaning dressed in special way?
Nautorius
Active member
Btow,
Firstly welcome to the Forum. Secondly get off your high horse. There is more cumulative knowledge on this Forum than you will ever have. We do appreciate new input, and welcome people from the Trade, but a little sensitivity might not go amiss!
I do not need to defend KevB, he is more of a contributor than you will ever be.
Feel free to appologise and then lets start over.
Cheers
Paul /forums/images/graemlins/cool.gif
Firstly welcome to the Forum. Secondly get off your high horse. There is more cumulative knowledge on this Forum than you will ever have. We do appreciate new input, and welcome people from the Trade, but a little sensitivity might not go amiss!
I do not need to defend KevB, he is more of a contributor than you will ever be.
Feel free to appologise and then lets start over.
Cheers
Paul /forums/images/graemlins/cool.gif
Nautorius
Active member
ROTFLOL
/forums/images/graemlins/laugh.gif /forums/images/graemlins/smirk.gif
/forums/images/graemlins/laugh.gif /forums/images/graemlins/smirk.gif
btow
New member
[ QUOTE ]
Your sister. She good? Maybe she do cleaning dressed in special way?
[/ QUOTE ]
Wow!! Some one is geting upseeeet!? /forums/images/graemlins/laugh.gif
Yeah! this is getting interesting now!!
Your sister. She good? Maybe she do cleaning dressed in special way?
[/ QUOTE ]
Wow!! Some one is geting upseeeet!? /forums/images/graemlins/laugh.gif
Yeah! this is getting interesting now!!
Nautorius
Active member
I have heard from a source that against all odds a few potential buyers came forward for whole business and non-mortgaged stock.
I believe two have a real possibility of being in the final bidding. I also believe only one was a current dealer/marine business. Phoenix springs to mind for another company!
Just hearsay though....IMHO.
...... I believe it will be announced soon (maybe by Monday) that it is in new ownership.....maybe good news for some!
Cheers
Paul
I believe two have a real possibility of being in the final bidding. I also believe only one was a current dealer/marine business. Phoenix springs to mind for another company!
Just hearsay though....IMHO.
...... I believe it will be announced soon (maybe by Monday) that it is in new ownership.....maybe good news for some!
Cheers
Paul
Gludy
Active member
I just hope it means that those poor souls who may have lost all get their money.
