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Raymotors goes in to liquidation


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I guess it's just one of those things. I thought running a business was a piece of cake until I started my own. I guess I'm a bit more aware of all the ways things outside your control can go against

One of the hazards of being in business that people who've never run a business don't generally appreciate. You supply goods or services very much on trust.

I've used the for years.The garage the filling station, the shop and  fast fit. They've always been great to deal with and I feel sorry for the staff.

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22 hours ago, LightBulb said:

Bought out by Spar / H&B / Manx Petrolems / in a joint venture, ( apparently ) due to re-open 1st December ( apparently ) with an off-licence, ( says man in the pub ) ?

I'm not sure if memory serves me but - when the Total Garage started they didn't have a licence. I seem to recall them giving booze away with video rentals to damage the guy who ran CDL.  Maybe someone remembers and can confirm.

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2 minutes ago, The Dog's Dangly Bits said:

I'm not sure if memory serves me but - when the Total Garage started they didn't have a licence. I seem to recall them giving booze away with video rentals to damage the guy who ran CDL.  Maybe someone remembers and can confirm.

The "video rentals in garages", was one of those occasions where no thought went into it, the garages ( or at least the one i worked at ), ended up with all the pumps being occupied with folks taking 30minutes to decide on which video to rent, and cars going in one end and out of the other, without stopping ( our garage stopped the rental videos soon after it started for that very reason ) ?.

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23 hours ago, LightBulb said:

Bought out by Spar / H&B / Manx Petrolems / in a joint venture, ( apparently ) due to re-open 1st December ( apparently ) with an off-licence, ( says man in the pub ) ?

That's what I heard also again from man in the pub gossip but seems legitimate  to me. 

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1 hour ago, The Dog's Dangly Bits said:

I'm quite surprised a drive through concept hasn't been done by Shoprite on that car park there. Ideal spot.

Pretty sure the carpark is a Ramsey Commissioners asset and responsibility.

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  • 6 months later...
On 7/7/2019 at 8:52 PM, John Wright said:

No, it didn’t reopen, under any name.

Yes, all the depositors got all their money back.

Yes, government got all the money it advanced under the Depositors Protection Scheme back.

However, lots of money was lost, the liquidation costs and the government costs in staying the liquidation and trying to arrange a fire sale of the loan book. If it had done that the creditors/depositors wouldn’t have got repaid in full.

Yes and no the depositors who are still alive got their money back it has taken 12 painful years yet are still owed some interest which despite us being in the electronic age the IOM has from the administrators but will take months and months to distribute to the depositors so they can draw a line at last this shameful episode .PWC the liquidators have made a fortune and faith in the trustworthiness of the IOM  as an offshore banking system totally destroyed . 

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