Sefton Group

[macmannin]

The sefton group have nothing to fear now Miles Walker is on the board.Thats if he gets time from the other boards he sits on.Not bad for a dairy farmer.

[Katman]

The sefton group have nothing to fear now Miles Walker is on the board.Thats if he gets time from the other boards he sits on.Not bad for a dairy farmer.

 

Not just on the Board, but the Chairman of the Group.

[Theodolite]

get yourself on the square and you're alright

[Sean South]

If my reading of the Sefton Accounts (which arrived a couple of days ago) is correct, current debts in the group are now £86,268,000.00. That's quite a bit.

That all depends on what type of debt it is. And what it's asset base consists of and what obligations/agreements and debt structures they have agreed with their banks.

 

Not too scary I'd say, given some of their assets.

[ballaboy]

Given the value of some of the properties like the Golf Links and The Castle Mona, they'd surely be able to raise any finance they need. However, they may not wish do run them as Hotels.... In which case it's whole different kettle of fish isn't it? Who knows...

According to evidence to the footpath inquiry, the Castletown Golf Links Hotel is owned by GFL not the Sefton Group

[Moghrey Mie]

If my reading of the Sefton Accounts (which arrived a couple of days ago) is correct, current debts in the group are now £86,268,000.00. That's quite a bit.

That all depends on what type of debt it is. And what it's asset base consists of and what obligations/agreements and debt structures they have agreed with their banks.

 

Not too scary I'd say, given some of their assets.

 

According to today's paper the Sefton Group made a profit of £1.63 million on sales of £32.82 million in 2009.

[censorship]

£86,268,000.00

 

Not too scary I'd say, given some of their assets.

 

Like what?

[Sean South]

£86,268,000.00

 

Not too scary I'd say, given some of their assets.

 

Like what?

 

from www.seftongroup.co.im

Hotels:

 

1. Sefton Hotel

2. Sefton Express

3. Hilton Hotel

4. Paramount City

5. Palace Cinema

 

Properties:

Its portfolio includes the

HSBC headquarters building,

Standard Bank building,

the entire Clinch's complex,

International House,

Samuel Harris House and

Cayman National House.

 

Parkinson Construction

 

All Worth more than 86million I'd say?

[cheeky boy]

 

 

from www.seftongroup.co.im

Hotels:

 

1. Sefton Hotel

2. Sefton Express

3. Hilton Hotel

4. Paramount City

5. Palace Cinema

 

Properties:

Its portfolio includes the

HSBC headquarters building,

Standard Bank building,

the entire Clinch's complex,

International House,

Samuel Harris House and

Cayman National House.

 

Parkinson Construction

 

All Worth more than 86million I'd say?

 

 

Parkinsons has been sold off

 

As for the hotels etc it would depend on their profitability

 

The office block values would depend on the lenghth of leases to run, there are acres of unlet office floors available in Douglas

 

I wouldn't be suprised if the assets only just covered the borrowings and although that does not mean the group is in trouble it certainly stymies any expansion or even refurbishment

[Sean South]

Well, we wouldn't want any facts get in the way of a good conspiracy would we??

 

Was Parkinsons sold during the last financial year for which this report covers???

[cheeky boy]

Well, we wouldn't want any facts get in the way of a good conspiracy would we??

 

Was Parkinsons sold during the last financial year for which this report covers???

 

 

I'm assuming it was sold to shore up the balance sheet on the next one

[Alias]

from www.seftongroup.co.im

Hotels:

 

1. Sefton Hotel

2. Sefton Express

3. Hilton Hotel

4. Paramount City

5. Palace Cinema

 

Properties:

Its portfolio includes the

HSBC headquarters building,

Standard Bank building,

the entire Clinch's complex,

International House,

Samuel Harris House and

Cayman National House.

 

Parkinson Construction

 

All Worth more than 86million I'd say?

To whom? If Sefton were to fold, that portfolio will be sold for greatly under £86 million, and as such I'd be very cautious as a creditor (as with any highly leveraged business).

[Sean South]

from www.seftongroup.co.im

Hotels:

 

1. Sefton Hotel

2. Sefton Express

3. Hilton Hotel

4. Paramount City

5. Palace Cinema

 

Properties:

Its portfolio includes the

HSBC headquarters building,

Standard Bank building,

the entire Clinch's complex,

International House,

Samuel Harris House and

Cayman National House.

 

Parkinson Construction

 

All Worth more than 86million I'd say?

To whom? If Sefton were to fold, that portfolio will be sold for greatly under £86 million, and as such I'd be very cautious as a creditor (as with any highly leveraged business).

OK so I'm obviously missing something. What makes you think it's going to fold??

[Gladys]

This is all interesting stuff, but nothing is worth anything unless someone is willing to pay it and someone will only pay it if there is the return.

 

So, from 1 to 5 above, which would you reckon is making a return? 2, 4 and 5 underwritten by 1 and 3?

 

I can see the better revenue earner in the second block of assets to be honest.

[gazza]

 

 

Parkinsons has been sold off

 

As for the hotels etc it would depend on their profitability

 

The office block values would depend on the lenghth of leases to run, there are acres of unlet office floors available in Douglas

 

I wouldn't be suprised if the assets only just covered the borrowings and although that does not mean the group is in trouble it certainly stymies any expansion or even refurbishment

 

I think you find that parkinsons is still part of the sefton group, it may not be 100% owned by them as 1 more firm has a controlling stake,

Juts look for the wagons or diggers and u know which company has bailed them out.

 

Parkinsons to be honest is on its ass as a firm, cant pay wont pay