Parallel lines?

WrightCharlie

Long article in The Guardian about Boots, I started to read it out of interest as I used to work for them.

Part of the article describes the situation - Boots UK, owned by an offshore company which borrows a lot of money and loads it onto the Boots UK balance sheet. The debt is large and only some of it is related to the Boots UK business.

Add in offshore owners and tax havens, in this case Monaco.

Now picture a (once?) much-loved company who served the community it grew up in, now being run as a stretch business siphoning UK customer money offshore to service the debt.

You'll have to read the article for the full in's and out's but it got me thinking about parallel lines between the Boots story and a certain football club I know and love.

http://www.theguardian.com/news/2016/apr/13/how-boots-went-rogue

Actually, parallel lines with more than one football club I guess.

Stig

So now, not only can I not buy my regular portion of chips at The Valley, but I have to give up on meal deals too.

TelMc32

Saw the BBC piece earlier about how they are essentially screwing the NHS. Very interesting article. There are a lot of people like Tony in businesses that were once pillars of communities. They are still there to a large extent, but all now subjected to bean counters and a swathe of middle management who add little to the overall business. I'm not sure they'll be around much longer, sadly.

Addickted

Sounds like Cadbury's are going the same way as well

johnnyhumphrey

How is loading debt onto a UK business normal business practice--how is that a commercial transaction as far as Boots UK is concerned.If they needed the cash then fine,as long as the interest rate is comparable to an "ordinarily financed" loan,but otherwise they are depressing UK profits artificially when surely Boots UK is supposed to be in business to make money from a profitable business?
Total artifice and therefore not tax-allowable. Wake up HMRC.

kentaddick

Addickted said:

Sounds like Cadbury's are going the same way as well

Heard from more than one source they're being run into the ground since being taken over.

bazjonster

And there's me thinking that this was going to be about 'Blondie'!

Hastingsaddick

bazjonster said:

And there's me thinking that this was going to be about 'Blondie'!

Beat me to it...great album BTW.

Lincsaddick

another great album is 'Selling England by the Pound'