Bristol Rob Posted February 17, 2015 Report Share Posted February 17, 2015 Have called in the receivers. I assume this is different to going in to administration? Can anyone shed any light on the situation. Link to comment Share on other sites More sharing options...
nickolas Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
samo II Posted February 17, 2015 Report Share Posted February 17, 2015 Don't really understand the situation from reading about it; cannot work out how they are avoiding administration with this, though am far from an expert. Link to comment Share on other sites More sharing options...
Mrdc Posted February 17, 2015 Report Share Posted February 17, 2015 From reading their website seems that they are a PLC, so I think its the same thing but has to be done differently, as trading of shares has to be suspended etc Link to comment Share on other sites More sharing options...
Super Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
!james Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
CyderInACan Posted February 17, 2015 Report Share Posted February 17, 2015 No idea. Next. Link to comment Share on other sites More sharing options...
semblar Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
myol'man Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
Stoke_Gifford_Red Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
Super Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
Guest Posted February 17, 2015 Report Share Posted February 17, 2015 Have called in the receivers. I assume this is different to going in to administration? Can anyone shed any light on the situation. I've not seen the news articles but receivership and administration are different. You call in an adminstrator, or your creditors do, because the administrator is an insolvency expert and will take over the running of the business with a view to securing the best result for the creditors. Best result for creditors could be to keep the business going, enter into new finance options, looking at cost savings etc, ultimately a mutual benefit. Alternatively if the best interests of the creditors is to flog anything that ain't screwed down that will be done also. Receivership is different in that whilst Administration considers the whole business and entity and its assets a receiver looks at one, or possibly several or all depending upon the type of receivership. Typically the asset is land and that's why you may have heard of an LPA Reciever (LPA being Land and Property Act). It might be that Brum have failed in mortgage payments to the bank and the bank have appointed a receiver to take back their land - a bailiff is a receiver for example. Receivership can be called at the whim of the lender and typically the loan instrument provides for the circumstances in which one will be appointed. For example, Rovers' MSP deal has provision for appointment of a receiver - you can see it if you want on companies house for a small fee. Link to comment Share on other sites More sharing options...
Stoke_Gifford_Red Posted February 17, 2015 Report Share Posted February 17, 2015 Have called in the receivers. I assume this is different to going in to administration? Can anyone shed any light on the situation. Technically it is different but I won't ve surprised if the Football League treat it like administration eg points deductions. I expect Millwall, Brighton etc are hoping there is a points deduction and will be after an explanation if not. Link to comment Share on other sites More sharing options...
Bristol Rob Posted February 17, 2015 Author Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
GrahamC Posted February 17, 2015 Report Share Posted February 17, 2015 Link to comment Share on other sites More sharing options...
Lew-T Posted February 17, 2015 Report Share Posted February 17, 2015 They've been on a downward spiral for a few years now. Doesn't seem to be getting any better! Link to comment Share on other sites More sharing options...
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