Your brothers firm isnt it fig? Sounds a shitter, the majority dont understand the risks of small businesses and how easy it is to go under, and the pressure that goes along with that
Sadly more small businesses are sunk by their customers than by their owners. Back in the 1960's my grandfathers business went the same way.
You have a better idea? The options are:- A: Take a chance on a company, or B: sit at home with no work. Which would you choose..? Yep, brother's company. I didn't have the money to buy in, so I took a paye job and helped set up the company 12 years ago. Left for 4 years after a row, then rejoined about 4 years ago. Shame it's going to end.
Sorry to hear your news Fig, I run a small business and I really feel your pain, I can't believe some of the crass sanctimonious comments from other forum members, not helpful :Banghead:
Ordered clock casing, fairing infills and a top yolk nut cap from moto toro, and took the CBR wheels to the powder coaters. Next job, ordering tyres, rear disc and rear sprocket.
If you have had problems before could they not stage pay? Failing that does your insurance not cover any of it? All I can suggest it would be worth going over your insurance policy with a fine tooth comb to see if there is any cover at all for unpaid debt. Even if you don't have a separate insurance policy against financial risk it's often written into many small business insurance policies but people often never claim as they just don't realise it's there. Got to be worth checking..
They've gone bust Phil, they can't stage pay anything. We've worked for that company for the best part of 12 years, and they've always been late payers (like just about every other contractor), we had no reason to assume they wouldn't pay up.
just a thought for you to consider. you know refrigeration, you know your way around an engine. same shit different power source. up hear they charge £60 for a recharge and leak test. in argyll bit chilly most of the time. London scorchio 12,000,000 people. got to be an opportunity there.
Dang. Well, you have a right to be at the creditors meeting, and while it's likely they are going to place you quite low down on the pecking order you may get a percentage of the debt from the liquidation proceedings. I'd also contact your creditors and try and negotiate a payment plan. Between the two it may be enough to save you. Forgive me if I'm covering ground you've already covered, but it's getter to cover everything twice than to miss one vital point. Don't forget, from your creditors point of view it's better to retain a customer than have you go under as a result. I've dealt a few times with accounts in this situation, some were saved, some were not. Even as a large PLC we have offered minimum rates, and reduced diesel to enable an otherwise sound customer to remain trading, if all suppliers do the same (and they often do) you will be able to work back up from the loss. How old is the company van, can you sell it to release capital and then lease another? Good luck fig.
To be honest I'm about ready to disappear inside a bigger company and just dodge around half asleep like most of my mates seem to do. Has to be a lot less stressful.
I can't speak to the contractors we've worked for until I speak to my brother, that would be like stealing from him. But I do have a few contacts of my own, and I'll throw a CV up onto some job sites, see what comes up. I've got a builder mate who will always give me work, but the pay is chronic, so it's a last resort.
Woke up to an awful hangover after being out at lunch for 11 hours yesterday and paying for it this morning. Ugh
thanks mate, gave it a quick read. mechanics lien interesting. i would defo pursue if a large company. problem being with an individual, especially in a relatively small community they will dig there heels in, and slag you off at every opportunity, which could end up costing you more. to be fair i have been very lucky. only one unpaid bill over three years. but generally i am running at about 6k owed at any one time. my surgeon mate tells me when he had his own practice in Canada he would right off about a third every year.
For those with a lot of eggs in a debtors basket, can I recommend this little app, even if it was designed by a friend of mine? CompanyAce on the App Store on iTunes This little gizmo will enable you to check the company accounts of any company in the UK. So before giving them thousands in credit, you can check to see what the likelihood is of them failing to pay it. You might not bother to check everyone, but if they are "too big to fail" as far as your biz is concerned, it's got to be worth spending a fiver getting their P&L and balance sheet for the last 2 or 3 years.
I've decided to become a rent boy. Not sure what it entails, but have you seen the price of rent these days..?
Well today I took pandora in for her first service. And matt46 came with me too. As she was going to be incommunicado for a few hours I'd arranged to have the new Monster 1200 as a loan bike again. Well I had a blast. This bike is so much fun to ride! It only took me a couple of minutes to get used to it before I was chucking it about all over the place. When we finally stopped in Alderly Edge for a coffee Matt was chuckling like mad at how I'd ridden her like a loon all round Cheshire But this bike is so easy to ride. Very light and flickable, and in sports mode it has a fair bit of grunt too. Anyway we got back to Ducati Manchester about midday to pick up Pandora after her service. From there we came back "over the tops" to Holmfirth via Greenfield and the "isle of Skye" road. And now I was able to open her up. And she loves it! And so did I! I dropped off my bag with my service book at home then we headed off to Squires at Sherburn in Elmet, for a coffee. I have to say that the 899 is an absolutely awesome bike. Agile, nimble, powerful, and great looking. And in the words of Carl Fogarty "it's comfortable" too. And now it's been run in I can have some real fun on it! If you are thinking of getting the 899 then give it a try. I doubt you'll be disappointed. All in all I think we've done around 170/180 miles today and it's been great. Wonder if I can swing another day out tomorrow?
