Premier acquires Boatfolk

[ashtead]

Presumably Boatfolk might just decide to not renew the bertholders licences if the council will not pay a premium for the business - does the income from licence fees exceed running costs -in my experience when councils become involved in commercial ventures the outcome is often unhappy. This certainly seems to be the case on the Isle of Wight with a number of ventures failing.

 

[dunedin]

Presumably Boatfolk might just decide to not renew the bertholders licences if the council will not pay a premium for the business - does the income from licence fees exceed running costs -in my experience when councils become involved in commercial ventures the outcome is often unhappy. This certainly seems to be the case on the Isle of Wight with a number of ventures failing.

See earlier posts including #133. Boatfolk’s operating licence ends at the end of this month and they are not renewing. So Boatfolk are no longer involved from April. The Council will presumably not be paying anything to Boatfolk, unless there is any ancillary equipment they want to take over.
The bertholders will be waiting to hear from the Council as to fees for new berth agreements.

 

[Fire99]

See earlier posts including #133. Boatfolk’s operating licence ends at the end of this month and they are not renewing. So Boatfolk are no longer involved from April. The Council will presumably not be paying anything to Boatfolk, unless there is any ancillary equipment they want to take over.
The bertholders will be waiting to hear from the Council as to fees for new berth agreements.

That's the bottom line.. And i'm one of the berthholders.

 

[ashtead]

This assumes the council wishes to renew the berthing licences. Yes I was thinking there might be tenants items of Boatfolk to be sold

 

[dunedin]

That's the bottom line.. And i'm one of the berthholders.

I hope everything resolves itself satisfactorily for you and other bertholders. Been there a few times as a visitor and great location, but there must be uncertainty on investment funds.

 

[benjenbav]

Indeed -it involves some paperwork but otherwise for example no insurer could buy another or motor manufacturer move from one insurer to another to provide FS products to the drivers of their brand. Sadly councils for a variety of reasons don’t always attract sharpest minds or experience and maybe it doesn’t want to inherit the customer book and associated issues-it doesn’t sound like Bangor is profitable though and perhaps needs expenditure. Being a Haslar boat for many years I have seen the expenditure that has taken place more recently which is usually needed to attract potential purchasers like Premier .

I can’t quite understand it if - as suggested - it turns out to have been possible to have been able to transfer liabilities (staff contracts) but not assets (berthing contracts).

 

[ashtead]

It might be that the staff claim they are TUPEd to the council on basis business is continuing - no protection exists I suspect for bertholders as holders of a licence. I would have thought by now some form of staff consultation will have taken place but maybe the staff are being made redundant . I would expect the council should have an indemnity from Boatfolk for any redundancy costs on basis they face staff claims. Not certain berthing contracts are assets if the maintenance costs are high ?