rugbyunion
Latest News:
Come On You Warriors!

This message board is for all things Warriors' and Rugby.
When posting please be aware that posts may be read by youngsters and respect other posters.
Click Here for the Message Board Rules


MESSAGES->author
Administration
Master Warrior (IP Logged)
10 October, 2017 22:26
Are we about to go into administration and if so what would that mean? Rumours on social media only at the moment, but a bit unsettling if true.

 
MESSAGES->author
Re: Administration
Faithful_City (IP Logged)
10 October, 2017 22:41
Where did you read that MW?

 
WorcesterSauce
Re: Administration
WorcesterSauce (IP Logged)
10 October, 2017 22:42
Just seen it on twitter as well.

 
MESSAGES->author
Re: Administration
West Brom Warrior (IP Logged)
10 October, 2017 22:46
Ah a rumour started by rugby united. Don’t think I will take it seriously until reported by a proper journalist with some actual info.

 
usa warrior
Re: Administration
usa warrior (IP Logged)
10 October, 2017 22:47
I’d be surprised. Owners have said they’re going to back the club until a sale goes through.

 
MESSAGES->author
Re: Administration
TeflonTed (IP Logged)
10 October, 2017 22:57
As rumours go this is nearly as daft as the one that had Harry Thacker "nailed on" as a signing, from a regular poster " in the know".

Claptrap.

 
Abmatt
Re: Administration
Abmatt (IP Logged)
10 October, 2017 23:21
But if true very worrying.

What are the penalties (if any) for going into administration?

 
MESSAGES->author
Re: Administration
Abberley (IP Logged)
10 October, 2017 23:38
Notwithstanding the status of the rumour, it would be interesting to hear our resident legal beagles' views on what, hypothetically, might happen following an insolvency?

22pt deduction? ~ Perhaps academic given our current performances.

Would the 'P' shares be up for grabs as a tangible asset?

Would Worcester Warriors RFC be allowed to continue next season in the Championship (assuming new owners could be found for the assets)?

 
Big T 15
Re: Administration
Big T 15 (IP Logged)
10 October, 2017 23:40
Has been retracted. Panic over until we here something from someone else - or someone buys the club.



Edited 1 time(s). Last edit at 10/10/2017 23:42 by Big T 15.

 
Offa
Re: Administration
Offa (IP Logged)
10 October, 2017 23:54
I thought that we had no debt, thanks to the generosity of our owners.

 
usa warrior
Re: Administration
usa warrior (IP Logged)
11 October, 2017 06:55
That's mu understanding - debt free in preparation for a sale.

Lots of smoke around the club at the moment so all sorts of rumours cropping up.

 
MESSAGES->author
Re: Administration
Faithful_City (IP Logged)
11 October, 2017 08:33
We are debt free, ignore the fairy tales

JP

 
A38
Re: Administration
A38 (IP Logged)
11 October, 2017 09:02
There's debt and there's debt.

Sorry to be totally pedantic, but I think when the club says it is "debt free" it means that there are no medium / long term loans outstanding.

It will have incurred, and will still be incurring, debt everyday simply by turning on the electricity, taking in food supplies and leaving paying its staff to the end of the month. That's totally normal. Very nearly every business up and down the land will be doing this day in day out. That's what "creditors" in the balance sheet is for.

But I believe that that is totally academic. It is however totally symptomatic of the view of the club which is being taken by many of its potential supporter base. Rumours such as this can be corrosive. They speak of a need for change. See EG thread.

 
FlipFlop
Re: Administration
FlipFlop (IP Logged)
11 October, 2017 09:14
Technically without the written support and guarantee provided by the club owners (CD and The Allens) in each set of Financial statements for the club for the majority of years reported, i think the numbers suggest we are technically insolvent due to historic and current liabilities and obligations.

This is not dissimilar to a Football club like Chelsea backed by Abromovich billions investment, which if he wanted to be repaid tomorrow, would render the club financially broken.

This has always been the case technically, once CD and Directors invested the required sums to make the club what it is now.

 
TVM Rides Again....Again
Re: Administration
TVM Rides Again (IP Logged)
11 October, 2017 12:00
Quote:
Faithful_City
We are debt free, ignore the fairy tales
JP

At the risk of being pedantic - administration isn't a debt thing, its a liquidity thing

Though granted the absence of debt makes it rather difficult to have difficulty servicing it smiling smiley


Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net
 
 

Who is online?

Total users online:  

Most users online:  

Users on this site:  

Where are they?