Administrators appointed - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
» Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > The Pub
Register Home Forum Active Topics Photo Gallery Auto Loans Garage Mark Forums Read Auto EscrowInsurance

The Pub For General Discussion

FordForums.com is the premier Ford Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Display Modes
Old 10-23-2001, 18:08   #1 (permalink)
ex-Ford owner
 
XYFalcon's Avatar
 
Join Date: Sep 2001
Location: Perth, Western Australia
Age: 42
Posts: 519
eek Administrators appointed

So are there any Accountants out there?

The company I work for has just had administrators appointed which is never a good thing, and I was just wondering how often a company pulls out of it on the other side rather than being wound up?
XYFalcon is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 10-23-2001, 18:20   #2 (permalink)
 
Join Date: Feb 2001
Location: Rocklyn
Posts: 7,750
That doesn't sound too good. I hope everything works out ok for you
HSE2 is offline   Reply With Quote
Old 10-23-2001, 18:36   #3 (permalink)
FM
The SparkleHunter™
 
FM's Avatar
 
Join Date: Feb 2001
Location: Gettin' ready for MiniChucky!
Age: 38
Posts: 10,144
That does sound a tad nasty.. Hope all turns out well.. :eek:
__________________
Chucky's saying of the month- Finish your beer! There are sober kiddies in Ethiopia.."
Another BSR BigCall™
--------------------------------------
FordForums Polo Shirts & Caps are now on sale.. Get both for $50.00 + postage. Click here for details!
FM is offline   Reply With Quote
Old 10-23-2001, 19:20   #4 (permalink)
Registered User
 
Falchoon's Avatar
 
Join Date: May 2001
Location: Somewhere over the rainbow
Posts: 3,544
I think Air NZ had administraters called in a couple of weeks ago, share trading was suspended but it seems to be trading out of the sh*t.
Lovells Springs is another one that springs (get it:D, sorry:o). There was a segment on Current affair about this last night. The owners went away for an extended holiday and the guy they left in charge ran the business into the ground, about $8mil in debt.:fmad: The owners sold everything they owned and put all the money back into the business. They had to give some people redunancies but they got every cent they were entitled to. The owners in their mid 60s are moving into a Granny Flat.:( But their business is still going.
If I were you, just to be on the safe side, I would be looking around for something else.
__________________
You know, somebody actually complimented me on my driving today. They left a little note on the windscreen. It said, 'Parking Fine.'So that was nice.

____o00o_=^..^=_o00o____
Falchoon is offline   Reply With Quote
Old 10-23-2001, 19:23   #5 (permalink)
Australian Ford Member
 
Join Date: Jun 2001
Location: Melbourne, Australia
Age: 64
Posts: 1,120
Re: Administrators appointed

Quote:
Originally posted by XYFalcon
So are there any Accountants out there?

The company I work for has just had administrators appointed which is never a good thing, and I was just wondering how often a company pulls out of it on the other side rather than being wound up?
Everything depends on the individual company's state and prospects, but it's not a death sentence. Some companies will come out of administration stronger.

If the administrator thinks there's a reasonable chance of trading out of it, he'll give it a go, but he'll wind it up otherwise. It might take a while for him to work out what to do, so you might be in a state of uncertainty unitl a decision is made.

If you're in a position that's critical to the company continuing, the administrator should keep you as he needs your knowledge and skills. If not, there's an obvious risk that he might trim the staff if savings can be made that will enable the company to survive.

Hope it works out for you.
EA S is offline   Reply With Quote
Old 10-23-2001, 20:33   #6 (permalink)
Veteran Ford Member
 
Join Date: Apr 2001
Location: Auckland - Also known as NZ
Age: 27
Posts: 2,588
Hope it all works out well :(
puts99 is offline   Reply With Quote
Old 10-24-2001, 02:38   #7 (permalink)
The Third Power
 
Join Date: May 2001
Posts: 1,332
There was a sement on ACA last night on the lovells (of the springs nature)

Apprantly they got ripped for about 8m and sold all the assets and put it back into the company instead of taking the easy road.

Great story and hope it applies here
strife is offline   Reply With Quote
Old 10-24-2001, 02:52   #8 (permalink)
I want a turtle!
 
XR8chic's Avatar
 
Join Date: Jul 2001
Location: Sydney, NSW
Posts: 2,635
A few years ago, the company I was working for had the same thing happen. They tried to deny the whole thing - and kept all the staff in the dark.!!!

The fact that there where people in suits hanging around all the time, and they started doing an audit of EVERY SINGLE peice of equipment made most people suss.

They had over 140 staff at that time. I went in to the first round of retrenchments (I got more that I was entitled too - so I was happy). When I spoke to one of the guys about 3 months later - they had about 60 staff, but they where all OK.

I ended up getting a better job 4 days later!!! Better conditions, better pay (15k more) and closer to home (1.5km away)...
__________________
FPV - Tickford Club of NSW
http://www.fpvclub.com
XR8chic is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > The Pub



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Today is System Administrator Appreciation Day Aussie Falcon The Pub 11 07-26-2002 23:38
Tesna pull out of Ansett negotiations Falchoon The Pub 7 02-27-2002 04:28

Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 05:01.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.