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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mccoll's Retail Group Plc | LSE:MCLS | London | Ordinary Share | GB00BJ3VW957 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.75 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
07/5/2022 23:03 | 8 weeks deadline ahead When a company goes into administration eg MCLS Bits of it can be cherry picked for relative peanuts ie cents on the dollar For example do you rampers here believe that Morrisons might prefer to just acquire the stores already kitted out or nearly kitted out and leave the rest of the loss making dross to other interested parties ( eg for demolition/redevelop Debt and administration Put your company into administration You can put your company or limited liability partnership (LLP) into administration if it’s in debt and can’t pay the money it owes. You’ll be protected from legal action by people or organisations who are owed money (‘creditors Administration can mean your company doesn’t have to pay all its debts in full - but your company can still be wound up. Appoint an administrator You must appoint an administrator - who must be a professional ‘insolvency practitioner’. During administration you must hand over control of your company and everything it owns (its ‘assets’ The administrator’ How administration works The administrator will write to your creditors and Companies House to say they’ve been appointed - they’ll also publish a notice of their appointment in The Gazette. Your administrator will try to stop your company being wound up (‘liquidated Your administrator has 8 weeks to write a statement explaining what they plan to do. They must send a copy to creditors, employees and Companies House and invite them to approve or amend the plans at a meeting. The administrator could decide to: negotiate a Company Voluntary Arrangement (CVA) so your company can keep trading sell your business as a ‘going concern’ to another company - meaning your business can carry on, eg by keeping its clients, workforce or orders sell your assets as part of a creditors’ voluntary liquidation, pay your creditors from any money raised and close your company close your company if there’s nothing to sell For as long as the company is in administration your administrator will run your business. The administrator has control over your business during administration, eg they can cancel or renegotiate any contracts you have or make employees redundant. When administration ends Your company’s administration will end when either: the administrator decides the purpose of administration has been achieved, eg a CVA has been agreed with the creditors the administrator’ You won’t have protection against any legal action your creditors take once administration has ended. | buywell3 | |
07/5/2022 22:11 | Mr blue , you sound like a c-nt but the bad predict outcomes better than the good on this site .so could you please give me your opinion on SYME . As I’m about to invest heavily into the company. | vaston | |
07/5/2022 21:55 | You are very welcome, look back at my history last few months, I was warning the mug gamblers to stay away from this but they ignored me PMSL. Now i will enjoy rubbing their bloody noses in it LOLOLOL | mrblueface | |
07/5/2022 21:20 | Thanks for the helpful contribution | rookieswingtrader2020 | |
07/5/2022 20:34 | Mugs been tuckered up in this PMSL | mrblueface | |
07/5/2022 16:39 | FWIW I disagree that the creditors could ordinarily come after the shareholders - see my post 5919. | rookieswingtrader2020 | |
07/5/2022 16:38 | FWIW I disagree that the creditors could ordinarily come after the shareholders - see my post 5919. | rookieswingtrader2020 | |
07/5/2022 16:37 | In the absence of fraud, guarantee or other complicating factor, the creditors cannot come after the shareholders for their money, except to the extent that the shares are not fully "paid up" to their nominal value, but I believe that they almost certainly will be as they have been trading on a public market.This is called the "veil of incorporation" in company law: the shareholders' liabilities are not the same as the company's liabilities because they are separate "legal persons" (they have separate "legal personality").The shareholders' liabilities are "limited" (this is where the word "limited" comes from in company names) to the nominal paid up share capital.As long as the shares have all been paid up (e.g. the first ever holder of the share pays the nominal value of the share into the company in return for that share being issued to the person) then that is ordinarily (see below) the extent of the shareholders' liability.I believe there are certain rare exceptions to the veil of incorporation (such as fraud by the shareholders, or a direct guarantee of the debt by the shareholders) but I very much doubt that they apply here. If it is a simple case of company insolvency with no fraud, guarantee or other complicating factor, and all the shares have been paid up to their nominal value, then after exhausting company assets the creditors can whistle for the balance of the debt: they have no basis to sue the shareholders because the shareholders are an entirely separate "legal person" than their debtor (the company). | rookieswingtrader2020 | |
07/5/2022 16:24 | You were warned in Nov (maybe forgot to read)? Shame | dudishes | |
07/5/2022 16:21 | I am so happy this has been suspended and gamblers lost everything, and that the business is in tatters PMSL :D | mrblueface | |
07/5/2022 16:19 | Shareholders get wiped out PMSL they get zilch PMSL you all LOSE PMSL | mrblueface | |
07/5/2022 16:02 | Barnes are you Barnes from corrie? | kirk 6 | |
07/5/2022 15:47 | Terminator You mean creditors. | grosstonnage | |
07/5/2022 15:44 | What did you think they were going to say? | bbmsionlypostafter mk2 | |
07/5/2022 14:57 | Issa brothers are saying all they will do is to pay off the debt in full in exchange for the company = shareholders get nothing. | loganair | |
07/5/2022 14:33 | Global.You've become hysterical since you've realised you're facing total loss here.You shouldn't of followed the pump of a failing business if you weren't keeping up with events.The long term shareprice chart tells the story here, its not sudden shock news, that writing has been on the wall for about a year. | apfindley | |
07/5/2022 13:49 | Not just zero value for shareholders but debtors could come after them (although it's unlikely). | terminator101 | |
07/5/2022 13:37 | p73 - This leaves the share holders with nothing, their shares have ZERO value. | loganair | |
07/5/2022 11:50 | The crew suckered many in yesterday. We sold 20m shorts on the way up.Now cashing in 0P. | 760il | |
07/5/2022 10:27 | So where does this leave the shareholders. Now this gets technical. McColl's shareholders are the owners of the company and they employ the CEO and the rest of the board. So the reality is the £200 - £300 million debt is with the shareholders as owners of the company. The banks can legally come after the shareholders for their money. In practice this never happens because the administrators protect ordinary shareholders by nullifying their shares. So the shares have no connection with the company and unfortunately no value. In the process of administration value for shareholders can only be maintained if the shareholders are willing to contribute financially to clearing or reducing the secured debt. | pwhite73 |
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