Isle Of Man LIVE 78 Posted November 13, 2012 Share Posted November 13, 2012 Did they not have a Director / Owner structure where there was about 10/12 different partners involved for circa £ 40k apiece ? If so, easy to see why what was essentially a vanity project failed. Imagine the bar-tab for multiple partners and their family / mates ? Bet that idea didn't last long. A bit like "The Mailbox" ... Quote Link to post Share on other sites
mulokin 128 Posted November 13, 2012 Share Posted November 13, 2012 looking at the number of times there have been changed in Director / Secretary this year me thinks its been floundering for a while. Nice of them to take Christmas booking before going under wont be a very festive party for some companies now i would imagine. Quote Link to post Share on other sites
Isle Of Man LIVE 78 Posted November 13, 2012 Share Posted November 13, 2012 It would be pretty serious fraudulent "trading insolvent" if Xmas Party monies were knowingly accepted even though the end was nigh. Hard to prove though ... Quote Link to post Share on other sites
mulokin 128 Posted November 13, 2012 Share Posted November 13, 2012 Yes its nearly impossible to prove IOML. The Hilton were asking for all the money up front for this years New Years Night party. Not done that before usually deposit secured. 2013 is going to be an interesting year expect more than a few big names to go to the wall. Unfortunately its the small businessman that gets caught up in the fall out. Quote Link to post Share on other sites
Lost Login 1,698 Posted November 13, 2012 Share Posted November 13, 2012 From Sefton 2010 Accounts Sefton Group plc sold the entire share capital of Rivertown Limited in January 2011 to a consortium of investors. Sefton Group plc is a member of the consortium and bought in by subscribing for a 7% share in the consortium. Each of Sir MR Walker, NB Martin, and DM Lewin, directors of Sefton Group plc, are also 7% investors in Rivertown Limited. Under the terms of the sale agreement of the Former Post Office, Sefton Group plc had an obligation to outfit and operate a restaurant on the ground fl oor of the building. The sale of Rivertown Limited enabled Sefton Group plc to defray this obligation and most of the associated costs. Sefton Group plc has agreed to guarantee the lease obligation of Rivertown Limited as detailed in note 28 28. OPERATING LEASE COMMITMENTS At the 31 December 2010, Rivertown Limited had annual commitments under the lease with Millyard Services Limited (transferred from Sefton Spa Limited during the year) for the ground floor of Capital House, Circular Road, Douglas, Isle of Man as follows: 2010 2009 Expiry date: £ £ After more than 5 years 72,431 - At the 31 December 2010, Sefton Group plc had annual commitments under the lease with Millyard Services Limited for the second floor of Capital House, Circular Road, Douglas, Isle of Man as follows: 2010 2009 Expiry date: £ £ After more than 5 years 116,054 - Quote Link to post Share on other sites
Lost Login 1,698 Posted November 13, 2012 Share Posted November 13, 2012 (edited) From Sefton Group 2011 Accounts Rivertown Limited Sefton Group plc holds a 7% shareholding in Rivertown Limited, purchased for £35,000 in April 2011. The investment is stated at cost less impairment and following an impairment review performed by the Directors at the year end, the directors considered it appropriate to recognise the investment at nil. Accordingly, a revaluation of £35,000 has been recognised in the profit and loss account as a fair value loss on investments. The Group is party to the following transactions with Capital International Group Limited (or companies with the same benefi cial owners as Capital International Group Limited or the benefi cial owners of Capital International Group Limited), a shareholder of Sefton Group plc: • Sefton Group plc entered into a contract with Mill Yard Services Limited in 2010 for the lease of the ground floor of Capital House, Circular Road, Douglas, Isle of Man for a period of 21 years at a commercial rate, with a break option after year ten. The floor is now fully sublet to Rivertown Limited. • Sefton Group plc entered into a contract with Mill Yard Services Limited in 2010 for the lease of the second fl oor of Capital House, Circular Road, Douglas, Isle of Man plus car parking for a period of 21 years at a commercial rate, with a break option after year ten. The floor is now fully sublet. Edited November 13, 2012 by Lost Login Quote Link to post Share on other sites
orbit 71 Posted November 13, 2012 Share Posted November 13, 2012 So who owns what now??? Quote Link to post Share on other sites
thebees 2,811 Posted November 14, 2012 Share Posted November 14, 2012 So, how's the Ticket Hall doing these days? Quote Link to post Share on other sites
Slim 1,355 Posted November 14, 2012 Share Posted November 14, 2012 So, how's the Ticket Hall doing these days? Was in there Friday. Food was very good quality, plenty of it and cheap. Place was practically empty on the busiest lunchtime of the week. Very different from when it was Greens and you often had to head down early to make sure you got a table, and the queue would be back to the door. Not sure how busy it is in the evenings, never been, but I hear the foods a good standard. Bit odd that you can't use your credit card, and they don't have a license. Quote Link to post Share on other sites
cropduster 1 Posted November 14, 2012 Share Posted November 14, 2012 Been to the Ticket Office and have to say that it was really good. BYO wine which means that they're not stinging you for a bottle of your favourite wine and you know that wine you like will be available! Food was great and plenty of it. Good service and all hot and fresh. Would recommend it. He used to work there but nothing to do with it now - the owners were 'difficult' - all related to Capital International (MillYard is their former office in Castletown) Quote Link to post Share on other sites
thebees 2,811 Posted November 14, 2012 Share Posted November 14, 2012 I'd rather set fire to my own eyelashes than set foot in the place but that's my own personal gripe. Quote Link to post Share on other sites
Southerner 1 Posted November 14, 2012 Share Posted November 14, 2012 Are you sure the owners were difficult and not the other way round? Quote Link to post Share on other sites
Matt Bawden 622 Posted November 14, 2012 Share Posted November 14, 2012 That seems to be it, if you're going to charge the prices you have to back it up with the best food and service. There is still a market for fine dining, McFarlanes continues to do well and is often busy. How's Portofino doing, anyone been recently? Mailbox on Tripadviser vs McFarlanes on Tripadviser Ridiculous prices, posh twats as clientele. The only downside is the knobs who like places like that will now clutter up everywhere else for the rest of us. Places like that do actually serve a purpose - the posh twats think its exclusive, the rest of us are glad it keeps them out of our places. Bitter much? These establishments aren't just for the very wealthy, they're special occasion venues. Sometimes you want burger n chips and sometimes you want fine dining, and are prepared to pay the difference. What the hell is happening.......another post by Slim I agree with!!! Quote Link to post Share on other sites
j2bad 896 Posted November 14, 2012 Share Posted November 14, 2012 Are you sure the owners were difficult and not the other way round? Having met the uppitty girl from Captial I doubt it. Quote Link to post Share on other sites
piebaps 3,117 Posted November 14, 2012 Share Posted November 14, 2012 Peroni £4-00 Do you mean lager? I now see what some others were saying about the clientele Quote Link to post Share on other sites
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