Havelock Europa Share Discussion Threads

[greengiant] 03/8/2019 11:21

Lol - no I didn’t disappear I merely am focused on my own things and I am making money from backing myself as opposed to always trying to fight with incompetence. Havelock taught a valuable lesson, there are some terrible business people out there.

Personally I am saddened by HVE demise, but only due to the loss of some good employees.

Gg

[tomboyb] 01/8/2019 12:06

Havelock bites the dust -

Lost a fair bit on this one -

[clocktower] 01/8/2019 12:02

"Breaking: Havelock International of Kirkcaldy, shopfitters, furnishers of banks, schools, colleges, in administration: 247 workers made redundant, some retained for wind-down. A buyer was sought, unsuccessfully."

[clocktower] 08/7/2019 13:42

So nobody heard from greengiant ever again but I was just curious if he had anything to do with the company`s new owners?

Any ideas?

[cvileservant] 11/7/2018 09:55

I took, I rubbed, once the brown stuff came off it still turned out the gold sovereigns had been turned to copper ha'pennys by the blunder of HVE.

[benflick] 09/7/2018 20:26

Take and rub vigorously

[cvileservant] 05/7/2018 08:56

Moving swiftly on, and with less wealth, the compliance officer at RCapital is Beth Appleton [e-mail], and the press gentleman looking at Farnbourough is [e-mail], though i have no idea why this may be of any use to any person (TT), i am not young enough to do winki smilie things, but you get my drift.

As they say in Layer Cake ''the art of a good businessman is bringing people together''. As there is no longer any fee note in drinking in Kirkcaldy pubs to get HE inside tracks, i suspect i am toast!! Fairwell, and thank you for the confirmations, there was something definitely wrong in the state of Denmark.

[mikepompeyfan] 04/7/2018 16:14

queenbee sounds like someone with their snout in the trough.

[clocktower] 04/7/2018 15:20

Shameful, the way management act, the whole matter should be investigate by the regulators, and the terms the administrators have entered into should be made public.

As for the suppliers, lefrene, I assume you are one, you will of course not turn down business for cash in advance or upon delivery, and I would be surprised if you do not add a premium to the price to recover some of your losses. Can they obtain the same supply`s easily elsewhere on credit? Is your business strong enough to say up yours, regardless of being offered cash?

greengiant,Thanks for the facts, as most that were invested here will appreciate your insight into events. I was not invested here but followed it will interest, as I though at one point you might have had a greater impacted and turned it around. However, when you advocated that it be de-listed, that was warning sign that most smaller investors that post should have been alerted too imo. Good luck with you new ventures.

[truthful tommy2] 04/7/2018 13:51

Im sure queenbee00 will answer the questions or confirm.
Will the suppliers and sub contractors get paid in full by the months end ?
Has the pension deficit been cleared avoiding any pensioners ongoing and future concerns?
Tell me when the party begins for all the happy investors to celebrate there losses ?

[pugugly] 04/7/2018 13:09

queenbee00 - As you only signed up to ADVFN today and post 6143 is you 1st ever post could it be that you are an employee of Rcapital or associated with them in some way?

Your comment about TT certainly sounds as though you may be. I am most grateful for his and fellow posters close to the company who have saved me a fortune in posting what appears to have been a more accurate position about the management execution of contracts and the finanacial position of the company than that revealed in the accounts.

Over to you sir declare your interest.

[goodoldays] 04/7/2018 13:02

Queen Bee, if you read the recent past posts, you will realize that Truthful Tommy is articulating views and opinions shared by the majority of people on here.i do not know what your agenda is by making such criticisms, but it uncalled for and unjustified.

[jblocko] 04/7/2018 12:30

Personal opinions about users on this chat should be kept to yourself. Assuming people’s status in regards to this failed company and then berating them on the opinion they have chosen to share is not the way to ignite a conversation.

[queenbee00] 04/7/2018 12:12

@Truthfultommy2

You are obviously a very disgruntled employee who has been there a long time and who clearlyalso has some very emotionally immature opinions, my advice - instead of hiding behind your computer, go find another job instead of berating the management of a company that is thankfully around to still pay your bills before they find you out.

Personally I find it shameful how you can continue to work there after the distasteful way in which you continue to convey your opinions on such a platform - do you really think they matter, in the grand scheme of things clearly NOT!

I wish the new company, employees and supply chain all the very best of luck.

[neverforget] 04/7/2018 11:21

I have it on very good authority that as part of the deal involving Rcapital a certain Mr Ian Godden had his $300g unsecured loan repaid. Can you believe it.

[truthful tommy2] 03/7/2018 22:51

We being told or led to believe that. The pension deficit has just disappeared. The suppliers who are owed thousands will all be happy. The owners of the lost shares are delighted. Clients old and new will have confidence in placing new orders. The management system will be working 100%. The management that got Havelock into this position will miraculously become world beaters. Something wrong somewhere.

[homegrown] 03/7/2018 19:07

I wonder if Rcapital will look at the layers of staff and management and look to streamline this business. Additionally, will it also look at huge incomes some of these individuals are taking from this business. I'm sure if those two actions were implemented PDQ, huge cost savings will be made. As mentioned in an earlier post, individuals should be held accountable for gross mismanagement. Unlikely, it will be a few those individuals a few steps down that will pay the price. I do hope those companies within their supply chain can recover !

[homegrown] 03/7/2018 19:07

I wonder if Rcapital will look at the layers of staff and management and look to streamline this business. Additionally, will it also look at huge incomes some of these individuals are taking from this business. I'm sure if those two actions were implemented PDQ, huge cost savings will be made. As mentioned in an earlier post, individuals should be held accountable for gross mismanagement. Unlikely, it will be a few those individuals a few steps down that will pay the price. I do hope those companies within their supply chain can recover !

[greengiant] 03/7/2018 16:44

So this new company has nothing to do with me. Basically Rcapital is a company that was introduced to Havelock (Ian and Shaun ) late last year in order to rescue the business - in the meantime SE came in and provided funding. So RCapital went away. So you would think.

I have it on very good authority that RCapital continued to work with Mr Godden and Mr Ormrod post SE investment with the view of completing a deal. This deal effectively was a prepack whereby the business would lose the pension deficit, lose the debt burden and effectively lose the overdue supplier base.

That is exactly what has happened. I lose but I will treat it as a tax loss. I feel very sorry for all the suppliers who are the real losers here. RCapital I am sure will make a very nice turn out of this, dependent on how much they have to put in through funding suppliers.

I wish all suppliers well and all employees well.

Andrew

[timnet] 03/7/2018 16:42

From RCapital website:

Havelock

Date Bought: July 2018

Industry: Design and Manufacturing

Location: UK

Website: www.havelockeuropa.com

Havelock’s management team will work in partnership with Rcapital to restructure and invest in the business. A key focus will be to ensure that all customer projects are completed in full, the delivery of innovative design, manufacturing and supply arrangements.

HAVELOCK International Ltd

“We have been exploring a range of funding options for the business. The team at Rcapital have the expertise to help us take the business forward, driving performance and delivering results. I want to thank our employees, customers and suppliers for their on-going support during this time.”
Shaun Ormrod, CEO

[lefrene] 03/7/2018 15:58

clocktower, once you have been stung in business by non payers, especially calculated non-payers, then you really don't want to have anything to do with them. Only payment on delivery or in advance will do, ie you don't take the risk again. You let somebody else play banker.

This situation rather looks as if it has been prepared for well in advance, one has to wonder who will be the end beneficiaries, it certainly won't be the shafted former shareholders.

[clocktower] 03/7/2018 15:39

I like the way the thanks suppliers for the support - I expect they will be saying, we will supply you but for cash and an uplift in price of around 5% until such time our losses have been recovered.

[magpie15] 03/7/2018 15:12

Trying to make sense of what all this means. Obviously share holder investment is now gone and worthless. What about supplier debt? Bank and SE debt and the pension deficit?

Is this in effect a management buyout? If so who is involved? Is it hidden/ormrod et al?

[cvileservant] 03/7/2018 14:34

If its anything like the transfer of the registered office from Alfreton to Mansfield, they will not have thought that far ahead - the had to keep Alfreton open for 3 months to comply with Companies House, again at cost. Does not solve the massive white elephant of the Kirkcaldy plant, the hacked off main contractors, the toxic subcontractors and suppliers, and looks like the Scottish Enterprise funding is chewed up. I wondered why they moved from Havelock House, guess the cost of the move has been pinned to the old company and written off. Headquarters was effectively gratis from Fife Council in exchange for Dalgety for council storage, which was then blitzed. Government and Council support left right and centre, and still loosing to British Thornton, Cardinal, and the likes. These teams must be fuming. It answers the old question if an independent Scotland would be Norway or Nigeria when it came to business ethics!