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mark occomore
Joined: 07 Dec 2006 Posts: 9955 Location: UK
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Posted: Fri Oct 22, 2010 6:01 pm Post subject: Pompey To Close Doors |
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Portsmouth FC who went into adminstration is too go into liquidation after failing to pay it's creditors. The club issued a stark statement that it will also be closed by the adminstrators as they are unable to continue trading of the club. What an disgrace and shame for the club and fans. |
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ColinB Guest
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Posted: Fri Oct 22, 2010 8:06 pm Post subject: Re: Pompey To Close Doors |
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mark occomore wrote: | Portsmouth FC who went into adminstration is too go into liquidation after failing to pay it's creditors. The club issued a stark statement that it will also be closed by the adminstrators as they are unable to continue trading of the club. What an disgrace and shame for the club and fans. |
Why is it a disgrace? Things happen in business, and for most of the time company administrators don't take such decisions lightly.
I'd use the word "unfortunate" rather than "disgrace".
That's life. |
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mark occomore
Joined: 07 Dec 2006 Posts: 9955 Location: UK
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Posted: Fri Oct 22, 2010 9:40 pm Post subject: |
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You have a good attitude. Sod everyone, thats life
One administrator said "it could be premature. |
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Schizoidman
Joined: 20 Sep 2010 Posts: 1140 Location: Rural West Sussex
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Posted: Fri Oct 22, 2010 10:16 pm Post subject: |
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It's yet another example of a club overborrowing, overspending and getting massively into debt, not the way to run a business. I don't remember the Portsmouth fans complaining when all that borrowing helped win the FA Cup and gain promotion to the Premiership.
Mind you, it doesn't help when the owner's father is a convicted arms trafficker. |
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undiscovered
Joined: 15 Sep 2010 Posts: 650 Location: Peterborough
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Posted: Sat Oct 23, 2010 8:22 am Post subject: |
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If the administrators can't stop the club venting money then they have no alternative
It is a shame though a club like Pompey going to the wall, but they won't be the last in the current climate and I think one of the big ones will have to go before the FA and Premier League do anything about the way clubs are run _________________ You will hear gospel and rhythm and blues and jazz, all those are just labels, we know that music is music. |
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ColinB Guest
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Posted: Sat Oct 23, 2010 4:51 pm Post subject: |
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mark occomore wrote: | You have a good attitude. Sod everyone, thats life |
Not true at all - I'm just reflecting on what happens when administrators are called in to achieve the best closure deal possible. When such deals aren't possible then liquidation is what happens.
There's no point in getting all emotional about it because it's a well-known football club. It's a business like any other, and if a business doesn't keep control of its costs and allows them to spiral whilst not maintaining a proper income stream to produce profit, then that's what will inevitably happen.
That's what happens - that's life, as they say. It's ridiculous to describe it as "a disgrace", though. |
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John W
Joined: 07 Dec 2006 Posts: 3367 Location: Warwickshire, UK
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Posted: Sun Oct 24, 2010 11:18 am Post subject: Re: Pompey To Close Doors |
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mark occomore wrote: | Portsmouth FC who went into adminstration is to go into liquidation after failing to pay it's creditors. |
nah!
The club has been bought/sold and is out of administration.
Sorted Mark _________________ -
John W |
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MadeinSurrey
Joined: 11 Dec 2006 Posts: 3130 Location: The Beautiful South
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Posted: Mon Oct 25, 2010 8:19 am Post subject: |
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Perhaps MarkO would like to change the title of this thread to reflect the happy news? _________________ MiS |
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