Sans Bateau
Well-known member
I am sorry to hear that the rummour is fact. I am sure the whole forum would want to join me in saying how sorry we are and wish you the best of luck in recovering your funds.
Keep us posted.
Keep us posted.
So Peters Opal has gone pop
- Thread starter Twister_Ken
- Start date
Sailfree
Well-known member
Have you contacted Bavaria direct?
It may be that your deposit has been paid over to them with your name against the build No.
I hope you are OK.
It may be that your deposit has been paid over to them with your name against the build No.
I hope you are OK.
brians
Member
Peters own Birdham Pool Marina which is adjacent to Chi Marina.
alisdair4
Member
My sympathy to anyone who has lost money in this disaster. I had literally just placed a deposit cheque on my next (2nd hand) boat the day that they went into administration. Luckily, I was able to stop the cheque, and the Vendor and I will come to a private arrangement over the boat. Pretty catastrophic for all the guys that worked for them. FWIW, I always had impeccable service from their Kip Marina branch.
courtesan
New member
Thank you for your kind comments
landaftaf
New member
why thank you, I was down there a couple of months ago looking at a yot and thought the whole thing was owned by peters, and the local brokers were premier.........
it a big place innit /forums/images/graemlins/ooo.gif
it a big place innit /forums/images/graemlins/ooo.gif
rwoofer
Active member
My total sympathies for your position.
I currently have 75% of boat value paid in stage payments, with another dealer thank goodness. It still made me very nervous, but I did do a little investigation and in my case this money has to go to the factory to a) fund build slot and b) the key build stages.
I do hope that your deposit has been similarly used to secure your build slot at the manufacturers and therefore you stand a chance of recovering a fair amount.
Sorry I can't offer any other help.
I currently have 75% of boat value paid in stage payments, with another dealer thank goodness. It still made me very nervous, but I did do a little investigation and in my case this money has to go to the factory to a) fund build slot and b) the key build stages.
I do hope that your deposit has been similarly used to secure your build slot at the manufacturers and therefore you stand a chance of recovering a fair amount.
Sorry I can't offer any other help.
ladyh
New member
How about sympathies with the people like us who have lost their life savings. He is holed up in Majorca having taken money from prospective purchasers when his company was not in a position to fulfil their obligations.
majorcansea
New member
Does someone know if the shops in Majorca stay open, we just have paid a deposit for a property and a boat with them but they haven’t informed us about the situation at all, I found that out in the net. Now I have phoned them and they say there is no reason to worry about our money and they don’t comment the situation that peters went into administration at all. Does someone of you know if they close up in Spain as well and what happens with the property business of peters? Thanks for your help.
Whitelighter
Active member
Peters Spain is a seperate company, and therefor not affected by the administration measures
Will_M
Member
[ QUOTE ]
Peters Spain is a seperate company
[/ QUOTE ]
Really?
Peters Spain is a seperate company
[/ QUOTE ]
Really?
Whitelighter
Active member
Yes, if you look through the news items from IPC they mention it as well on one of the early ones.
Whitelighter
Active member
Sorry, it is Peters Cala D'Or that is a seperate from the main PetersOpal group. Whether this includes other business in spain I don't know
Will_M
Member
Ah, maybe that explains why BAP wasn’t anywhere to be seen when last week those 130+ were told to go home and not return.
Speaking with a friend & one of those 130+ earlier today, no explanations on that Tuesday, no redundancies other than what they can claim through the system, oh yeah and no pay since mid July! Just a simple, leave now, you are no longer employed.
The more and more is heard as the days go by, the more desperate you feel for all those who possibly stand to loose out from this, staff, customers, suppliers etc etc...
Speaking with a friend & one of those 130+ earlier today, no explanations on that Tuesday, no redundancies other than what they can claim through the system, oh yeah and no pay since mid July! Just a simple, leave now, you are no longer employed.
The more and more is heard as the days go by, the more desperate you feel for all those who possibly stand to loose out from this, staff, customers, suppliers etc etc...
Will_M
Member
Must admit, I always thought Cala d’Or as was, at least back in the ‘Fairline years’, before they gave the rather excellent Charles Keily the heave, was in fact part and parcel of Peters, the same impression was too that ‘Peters Home Finder’ or whatever it was named, was also one of the same.
I could be wrong?
Mind you, the Home Finder website is still up and running, so perhaps it is a separate entity?
I could be wrong?
Mind you, the Home Finder website is still up and running, so perhaps it is a separate entity?
Sans Bateau
Well-known member
I found it rather strange that BP was 'on holiday' whilst his business colapsed last week. But now knowing that his interests in Spain are seperate from UK, its clear where his loyalty is.
Sailfree
Well-known member
Not sure you are being fair.
There are businessmen that fleece others go bankrupt and could not care how many they hurt. Quite happy to see those hung!
I know little about BP but he seems to have built up a sucessful business and kept expanding so not sure you can consider him a "fly by night".
What went wrong I don't know perhaps the business became to big for the management or the management financial reporting structure did not give adequate timely warning for something to be done to cut losses. I would be surprised if rising interest rates were not a major contributing factor.
Having worked for big organisations where I benifited from lots of management courses and latterly for smaller companies including some start up companies where a number of bright individuals are trying to build something solely on their talent I can see their problem when management training is flying by the seat of your pants and is effectively only on the job experience as the job gets bigger.
The only companies that survive and grow are those where the people in charge regonise when they need further management/accounting help.
Accepting that the UK businesses had "gone" he may be just trying harder to save the remainder!
There are businessmen that fleece others go bankrupt and could not care how many they hurt. Quite happy to see those hung!
I know little about BP but he seems to have built up a sucessful business and kept expanding so not sure you can consider him a "fly by night".
What went wrong I don't know perhaps the business became to big for the management or the management financial reporting structure did not give adequate timely warning for something to be done to cut losses. I would be surprised if rising interest rates were not a major contributing factor.
Having worked for big organisations where I benifited from lots of management courses and latterly for smaller companies including some start up companies where a number of bright individuals are trying to build something solely on their talent I can see their problem when management training is flying by the seat of your pants and is effectively only on the job experience as the job gets bigger.
The only companies that survive and grow are those where the people in charge regonise when they need further management/accounting help.
Accepting that the UK businesses had "gone" he may be just trying harder to save the remainder!
Sans Bateau
Well-known member
mmm, not sure if I indicated that he was 'fly by night', certainly not intended if I did, but.....questions:
Has he spent too much time in Spain, taking his eye off the ball in the UK?
Has he built his Spanish business having seen the bleak future of his UK business (I would never accuse this man of being stupid!)?
He was certainly not daft enough to leave an incapable management team to run the place in his absence, he would have known years ago the way the business was going.
I suspect the bottom line of PO was affected badly when they lost Fairline.
Has he spent too much time in Spain, taking his eye off the ball in the UK?
Has he built his Spanish business having seen the bleak future of his UK business (I would never accuse this man of being stupid!)?
He was certainly not daft enough to leave an incapable management team to run the place in his absence, he would have known years ago the way the business was going.
I suspect the bottom line of PO was affected badly when they lost Fairline.
moondancer
New member
Still can't see how he can continue as president of the BMF - IF customers lose money. I know the BMF is primarily intended to represent the marine industry and not consumers but they actively encourage members to show their logo, I guess as a sign of assurance.
If anything it raises questions as to should the industry be doing more to protect customers in these situations. The travel industry was forced to do something a long time ago - maybe the time has come for the marine industry to look at options for customer protection in the event of administration.
If anything it raises questions as to should the industry be doing more to protect customers in these situations. The travel industry was forced to do something a long time ago - maybe the time has come for the marine industry to look at options for customer protection in the event of administration.
majorcansea
New member
I have talked to a person from peters majorca today, and they told me that the business get feated with money from england because business in spain is so badthat they can`t finance theirselfes with boat and property sales. Now the question is are you sure that the business in spain is separated from england?