Breaking News Sainsbury agree £5m loan

[V2 5UFC]

This is incorrect. They owe me another £8,000 on top of the £31,000 debt which still isnt cleared yet but I do have a payment plan in place. That said we have had a payment plan in place for nearly a year which has been broken on at least 5 occasions!

 

[Smiffy]

This is incorrect. They owe me another £8,000 on top of the £31,000 debt which still isnt cleared yet but I do have a payment plan in place. That said we have had a payment plan in place for nearly a year which has been broken on at least 5 occasions!

Terrible. So you are the Bibby Factors Finance owner?

I have edited the amount due on the 1st page. These figures were quoted in the Echo.

 

[V2 5UFC]

no mate I own the print company 354. Bibby's are our factoring company (our bank basically). Lost the programme and everything this year which I am really disappointed about tbh but I suppose its not money I am going to lose. Put allot of effort into making the programme look good last season for MY club which is gutting really.

 

[V2 5UFC]

I wish I was the Bibby's owner! I would have bought the club yonks ago

 

[Hotman]

no mate I own the print company 354. Bibby's are our factoring company (our bank basically). Lost the programme and everything this year which I am really disappointed about tbh but I suppose its not money I am going to lose. Put allot of effort into making the programme look good last season for MY club which is gutting really.

No point worrying about it - the only good customers are those that pay. Suggest you contact irate Ian of this site who might be able to help you

 

[Interpol Shrimper]

no mate I own the print company 354. Bibby's are our factoring company (our bank basically). Lost the programme and everything this year which I am really disappointed about tbh but I suppose its not money I am going to lose. Put allot of effort into making the programme look good last season for MY club which is gutting really.

That's a shame, I thought last years programme was excellent, if not THE best football programme I've ever seen.

The one that carried the Eggheads story got shown around friends/colleagues and I got loads of positive feedback about was it a special edition or was that the regular style of match day programme.

 

[Smiffy]

no mate I own the print company 354. Bibby's are our factoring company (our bank basically). Lost the programme and everything this year which I am really disappointed about tbh but I suppose its not money I am going to lose. Put allot of effort into making the programme look good last season for MY club which is gutting really.

Real shame. Last year's programme was probably the best ever.

 

[V2 5UFC]

Thanks, even I thought it was pretty good too! Well if you know anybody who needs any decent print work who pay throw them my way please...

 

[THE SEVENTIES NORTH BANK]

This is incorrect. They owe me another £8,000 on top of the £31,000 debt which still isnt cleared yet but I do have a payment plan in place. That said we have had a payment plan in place for nearly a year which has been broken on at least 5 occasions!

Sorry to hear you're losing the programme work for S.U.F.C, The programme was top notch and an absolute credit to you.
There is now no reason not to settle your bill in full, and very quickly to end this sorry saga.

Out of interest, who did you used to deal with from the club? Did you get a lot of lies and fobbing off, or did the payments just not arrive with no explanation? You don't have to answer this of course as you are still dealing with the club.

 

[Kent Shrimper]

This is incorrect. They owe me another £8,000 on top of the £31,000 debt which still isnt cleared yet but I do have a payment plan in place. That said we have had a payment plan in place for nearly a year which has been broken on at least 5 occasions!

And this is a prime example why i Cant get excited and start joining in the joyous, everything is ok that people seem to think is the case!!! People are still being treated like dirt, but don't worry Ron and his ego did get some Air time on Sky Sports News, V2 5UFC according to Ron what you should do is - Relax, as you wouldn't understand the financial implications of what Rons going through!!!

It makes me sick!!!

 

[steveo]

Surely Bibbys pay you a large percentage of the invoice value as soon as you bill the club, or do you have an agreement where the debt comes back to you after a certain amount of time?

 

[Cricko]

Surely Bibbys pay you a large percentage of the invoice value as soon as you bill the club, or do you have an agreement where the debt comes back to you after a certain amount of time?

That used to work like that when I used them.....the thing is (and I am not sure if this is still the case)...the factors are the people who set the credit limits for any company you deal with...it is then your choice if you take a risk and allow them more credit than is advised...With SUFC I cannot see any Factor (baring in mind our credit history) giving SUFC a massive limit.They will pay you a huge percentage of the original invoice value but if the company defaults on payments you will have the amount between what they guarantee and the amount you have risked taken back from you.In other words anything above their limit set for the company now becomes your debt.

 

[McNasty]

Does this mean SUFC are well-facked?

 

[Cricko]

Does this mean SUFC are well-facked?

More like Fecked.

 

[Mad Cyril]

In the Echo the other day, Rank said they were now looking at other site's for the new casino as they basically said time and their patience had run out in regards to Fossetts.

Southend needs another casino like it needs another pound shop.

 

[pickledseal]

And this is a prime example why i Cant get excited and start joining in the joyous, everything is ok that people seem to think is the case!!! People are still being treated like dirt, but don't worry Ron and his ego did get some Air time on Sky Sports News, V2 5UFC according to Ron what you should do is - Relax, as you wouldn't understand the financial implications of what Rons going through!!!

It makes me sick!!!

I agree. I've said time and time again, these are the things that hurt. Local businesses, run by fans, getting shat on by RM and the club from a great height.
It really really hurts to support a club who run like this.

 

[steveo]

That used to work like that when I used them.....the thing is (and I am not sure if this is still the case)...the factors are the people who set the credit limits for any company you deal with...it is then your choice if you take a risk and allow them more credit than is advised...With SUFC I cannot see any Factor (baring in mind our credit history) giving SUFC a massive limit.They will pay you a huge percentage of the original invoice value but if the company defaults on payments you will have the amount between what they guarantee and the amount you have risked taken back from you.In other words anything above their limit set for the company now becomes your debt.

But if you are supplying them at a rate above the factors advisory limit, then you might as well bill the Club rather than pass the invoice through the factor.

 

[Hotman]

That used to work like that when I used them.....the thing is (and I am not sure if this is still the case)...the factors are the people who set the credit limits for any company you deal with...it is then your choice if you take a risk and allow them more credit than is advised...With SUFC I cannot see any Factor (baring in mind our credit history) giving SUFC a massive limit.They will pay you a huge percentage of the original invoice value but if the company defaults on payments you will have the amount between what they guarantee and the amount you have risked taken back from you.In other words anything above their limit set for the company now becomes your debt.

Only if it's a deal including debt insurance... Some deals merely include cash flow advance (known as invoice discounting) and will drop back to supplier after x days. Some factoring deals are like this too.

 

[CC51DAS]

Can somebody remind me where Martin Dawn plc now stand with regards to the specific winding up order(s) HMRC have got against them?
The £1.6m to "other Ron Martin companies", presumably you would think this will be utilised to again see off the tax man?

Does anyone have the answer to Glasgow's question ?

If the 1.6 million is called in by 'RM other companies' what would be left for SUFC ?

Is this what HMRC mean when they say the club is still insolvent ?

 

[Kent Shrimper]

Does anyone have the answer to Glasgow's question ?

If the 1.6 million is called in by 'RM other companies' what would be left for SUFC ?

Is this what HMRC mean when they say the club is still insolvent ?

Maybe we are relying on the hooper/bailey money to fund part of the season?