Havelock Europa Share Discussion Threads

[neverforget] 16/4/2018 09:56

Coming to a climax this week

[great g] 15/4/2018 13:56

There are many within the factory workforce that can easily be made redundant, many of whom do as little as 2 hours work or less on an average 8 hour shift.

[2perfect] 15/4/2018 10:11

It’s very sad. Next week week will be the last. Gutted for the good guys. Not the useless arrogant RW and JG. They deserve all they get. Horrible people.

[neverforget] 15/4/2018 07:21

It's desperate measures in desperate times. Should focus more on clients and the service offered to them. Rumour has it that Godden is out the door already. Havelick headed for the failed business bin.

[biggerpicture] 14/4/2018 22:27

It looks like end of HVE to me.
Money they pay to joiners are lowest you can imagine as it's less than £10 ph for that you just can't keep good tradesmen in job as anywhere else joiners get £12-£19 ph so overtime in busy periods was the only way to make half decent wage but with this changing nobody will stay there.

[2perfect] 14/4/2018 16:57

That has been proposed a few times but never implemented. Trust me with the situation they are in this will have zero effect.

[steak1] 14/4/2018 10:45

When the accounts come out, keep your eye on intangible assets and if they increase and by how much. If you add together the increase in intangibles ( probably New MRP system that can't be sold to raise cash )and the losses over the last two to three years you will see the current cash pressures on the business.

I think intangible assets that can not be sold for there balance sheet value will be a large corporate scandal in the future, prudently a true and fair assessment is what they can be sold for not what they cost

As i have said before if a company can not pay its debts as they fall due the directors can become personal liable for the debts. I note that the chief Financial Officer left the board on the 6th march, Surely he would have seen the cash flows.

[lefrene] 13/4/2018 14:00

They might have fast cars but it's taking four months and four days to get their end of 17 accounts out! It does seem the kind of business operated by employees rather than entrepreneurs.

[truthful tommy2] 13/4/2018 13:47

You had a project / construction director with a John Cooper Mini works hatch
34-40k and a Porsche. Only ever used it to go back and forth to home. When required to visit sites went in a project managers company supplied car or used public transport.
Was a major contributor to the loss of at least 10 major clients. Thats the mentality at Havelock. Reward failure by turning a blind eye.

[2perfect] 13/4/2018 13:04

It is a mute point now. They have nothing more to take. It is sad that all these inept Directors have now bled Havelock dry and let this happen. It's disgusting.

[truthful tommy2] 13/4/2018 06:10

The car allowance or allaction has spiraled out of control. Most top to mid managers or directors take the car allowance. They lease top of the range cars that need to be returned with low millage. But when it comes to traveling on work business use public transport. Havelock policy states company cars need to be 4 door. The expense system at Havelock is a scandal that has been ignored or swept under the carpet for years.

[homegrown] 12/4/2018 20:49

Remember, the Porsche, BMWs and Audi's need updating to newer models.

[homegrown] 12/4/2018 20:29

Increase taxes in Scotland to assist. I wouldn't mind paying a bit more to support HVE

[2perfect] 12/4/2018 20:05

I thought they already had. Did they not put money into the recent re financing deal?

[homegrown] 12/4/2018 19:50

It's really time for UK Government to step in and provide support to HVE don't you think ?

[homegrown] 12/4/2018 19:37

Rumour has it has it that HVE are in a critical position, No funds left with huge debts to pay. Suppliers will be concerned no doubt. Don't think a change in senior management will make any difference, time for the White flag to be raised.

[2perfect] 12/4/2018 18:48

This is really sad. I thought after the money was received they would turn the corner.

It does not look good.

[neverforget] 12/4/2018 16:55

Rumour has it chairman on the way out.

[truthful tommy2] 09/4/2018 14:09

If this was a privately owned company you wouldn't pay the mid to top management the minimum wage. Never mind the ridiculous salaries being paid out plus expenses.
In fact you probably would not employ them in the first place.
You have account directors account managers all types of project management swanning around the country like playboys. Absolutely ridiculous with no end result.

[cvileservant] 09/4/2018 08:40

Could be there are some things in life they don't want their name associated with... unlike their predecessors.

[diku] 08/4/2018 18:42

Last person out switch off the lights...maybe already switched off...

homegrown...problem is not just here but across the Plc casino markets...

[homegrown] 08/4/2018 18:38

This company has struggled for many years. Turnover no profit. If this was a privately owned business, the first thing that would happen is to cut the huge salaries from mid to top management, If the management are serious about turning this around, I suggest they offer to take a massive reduction in salary.