It's kind of unlikely we would go into administration though, isn't it.
Businesses go into administration when they don't have the cash-flow to cover their current debt. It can be a handy way of saving the business because typically the administrators will negotiate away a fair proportion of that debt. In CAFC's case I understood that a fair proportion of the debt was owed to the board, so it's not really in their interest to do this. If they did then they'd be better just writing it off, thus avoiding points deductions.
Not all rosy though - it might well be that we'd actually be better off in the long run, in admin.
It will be putting a big strain on the business not to have an overdraft facility, especially when income is rapidly diminishing. From the last accounts, the club was trading at a significant loss, and that seems to be the case still from the answers at the AGM (projected £1.5M loss plus a further £3M if when relegated). In cash flow terms, that money will have to be found from directors' pockets if there is no overdraft facility. It is very bleak. Reg on a white horse is the best news I've heard all day, even if it is complete pie in the sky.
Come on guys if this were going to happen, do you think that it would leak out to Bexleyboy?? I'd much rather rely on RM's on the record comments than a bunch of speculation.
The overdraft facility went a long time ago, and we are not the only club/business who are going to be affected by overdraft facilities being withdrawn. Cost cutting yes, Admin no...
Story was on Kent local TV news. RM denying that Charlton would be going into administration this month. Presumably the addition of 'this month' is just TV speak.
just shows a bit of irresponsibility IMHO from Bexleyboy and LivebytheSword as it does the Club no favours in the long run but I'd guess both will be pleased to seen it got the reaction it did.
I think that this "administration" rumour is put about by people who couldnt give a monkeys flying f**k about the club and are shit making twats --------discuss.
[cite]Posted By: Goonerhater[/cite]I think that this "administration" rumour is put about by people who couldnt give a monkeys flying f**k about the club and are shit making twats
discuss.
Stop being such a PC lovee and say what you really mean Roy : - )
[cite]Posted By: Goonerhater[/cite]I think that this "administration" rumour is put about by people who couldnt give a monkeys flying f**k about the club and are shit making twats
discuss.
OK guys, record this moment for posterity - Goonerhater and I actually agree on something. Perhaps all the snow lately is actually a sign of hell freezing over.
[cite]Posted By: Goonerhater[/cite]I think that this "administration" rumour is put about by people who couldnt give a monkeys flying f**k about the club and are shit making twats
discuss.
OK guys, record this moment for posterity - Goonerhater and I actually agree on something. Perhaps all the snow lately is actually a sign of hell freezing over.
I suppose if all other hope is gone... but I'd suggest there's a fair chance of the board recouping at least some of their investments if they hang in there. They'll have to be patient, though - *very* patient...
Henry Irving "just shows a bit of irresponsibility IMHO from Bexleyboy and LivebytheSword as it does the Club no favours in the long run but I'd guess both will be pleased to seen it got the reaction it did.
Comments
the withdrawal of the overdraft facility was announced at the AGM,
the denial we will go into administration has been made at least 4 times
and the breakdown of the debt has been known since the start of the season.
Businesses go into administration when they don't have the cash-flow to cover their current debt. It can be a handy way of saving the business because typically the administrators will negotiate away a fair proportion of that debt. In CAFC's case I understood that a fair proportion of the debt was owed to the board, so it's not really in their interest to do this. If they did then they'd be better just writing it off, thus avoiding points deductions.
Not all rosy though - it might well be that we'd actually be better off in the long run, in admin.
all true BUT we were told that Parky would be judged on results too ......
Thank god i dont have one hate overdarfts
Along with your other doom and gloom posts I'm beginning to question your reasoning.
that ends that..
No he's not.
http://www.cabinetoffice.gov.uk/events/tower/david_varney.aspx
Shame.
How time flys, the boy done well. Do we know if he follows Charlton?
That's what Richard Murray said in the KM article.
So who do you want to believe - Murray or Bexleyboy......?
Stop being such a PC lovee and say what you really mean Roy : - )
Exactamundo!
Lol!
(Although on that website, they're probably about 12 and have no idea of the implications of their fantasy bankruptcy schemes.)
"just shows a bit of irresponsibility IMHO from Bexleyboy and LivebytheSword as it does the Club no favours in the long run but I'd guess both will be pleased to seen it got the reaction it did.
Shame."
What did I do?