Manx1Bloke Posted August 3, 2012 Share Posted August 3, 2012 last change notified to the Registry was:- 9N CHANGE IN DIRECTOR/SECRETARY 05/09/2011 Link to comment Share on other sites More sharing options...
Deejay Denzel Posted August 4, 2012 Share Posted August 4, 2012 oh Sir Miles Walker... what a lovely ship you run. I would resign if I was him.. either he lets happen what goes on with that company or it goes on under his knows unaware.. Link to comment Share on other sites More sharing options...
Moghrey Mie Posted August 4, 2012 Share Posted August 4, 2012 So according to their Annual Report the Sefton Group invested in a fulfillment company in Guernsey - MBL packaging and exporting cds and videos to avoid VAT? They can certainly pick the winners. Link to comment Share on other sites More sharing options...
DRIVER Posted August 4, 2012 Share Posted August 4, 2012 No wonder the Hilton group pulled out of their involvment with them ! Link to comment Share on other sites More sharing options...
Donald Trumps Posted August 5, 2012 Share Posted August 5, 2012 I sense an impending crisis Link to comment Share on other sites More sharing options...
Manx1Bloke Posted August 7, 2012 Share Posted August 7, 2012 So according to their Annual Report the Sefton Group invested in a fulfillment company in Guernsey - MBL packaging and exporting cds and videos to avoid VAT? They can certainly pick the winners. 3 AUGUST 2012 MBL Group plc TRADING update The Board of MBL Group plc (the "Group") makes the following update to shareholders. Performance in the year ended 31 March 2012 As reported in the Group's Interim Results on 9 December 2011, the Group incurred substantial trading losses whilst managing the consequences of the loss of its major customer contract in April 2011. In the six months to 30 September 2011 the loss before tax was £7.2m and, although the ongoing downsizing has, to a large extent, reduced the losses during the second half of the year, it is anticipated that the full year loss will be higher than the interim loss. Whilst significant costs have been incurred in the management of the wind down of the operations, and asset realisations arising there from, substantial ongoing cost savings have been achieved. Group headcount has been reduced by 74% over the course of the year and the remuneration of the Executive directors has been reduced by 53% in recognition of the challenges faced by the Group. The downsizing of the Group has largely been completed with a number of subsidiaries either disposed or wound down. The consequent dramatic reduction in volume, combined with the well publicised financial impact, resulted in a significant adverse effect on customer and supplier confidence and Music Box Leisure's trading activities no longer being commercially viable. The Group's final results will be announced later this month. Purchase of trade and assets Consistent with a revised strategy of focusing on the direct to consumer market, the Group has acquired the trade and assets of the Garden Bird Supplies, Garden Centre Online and Listen2 businesses as announced on 30 March 2012. The Group is in the process of consolidating the distribution of these businesses into its Leyland operations within its subsidiary The Garden and Home Trading Company. Funding The Group continues to have sufficient cash funds available to meet working capital needs. The Group remains in the position of being debt free and does not have the requirement for any bank financing. The Group continues to obtain the majority of product supplies through the payment of cash in advance. Future outlook The Directors continue to pursue a strategy to develop its business as a direct to consumer retailer and the recent purchase of assets has moved the Group further forward in this regard. The principal businesses of the Group now comprise Windsong International, MBL Direct wholesale business, Bee.com (retail and online) and The Garden and Home Trading Company. The Directors continue to closely monitor the performance of the remaining Home Entertainment divisions. END MBL GROUP PLC Tel: 0161 767 1620</span></span></span></span> Peter Cowgill, Chairman BISHOPSGATE COMMUNICATIONS LIMITED Tel: 020 7562 3350</span></span></span></span> Nick Rome/Sam Allen mbl@bishopsgatecommunications.com N+1 BREWIN (NOMAD and BROKER) Tel: 020 3201 3710</span></span></span></span> Robert Beenstock see also http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MUBL&ArticleCode=50160gjt&ArticleHeadline=Interim_Results Link to comment Share on other sites More sharing options...
piebaps Posted August 7, 2012 Share Posted August 7, 2012 At least they haven't invested in a film company Link to comment Share on other sites More sharing options...
Moghrey Mie Posted August 7, 2012 Share Posted August 7, 2012 'Former chief minister supports investment in fulfillment company which avoids VAT on cds and videos' was probably enough for now. Link to comment Share on other sites More sharing options...
Boo Gay'n Posted August 7, 2012 Share Posted August 7, 2012 Is Sefton Group actually solvent? Rumours swirl of banks calling in debts, fire sales of assets and Sir Miles frantically staying close to Big Al for protection if.....no smoke without fire..... Link to comment Share on other sites More sharing options...
stopover79 Posted August 9, 2012 Share Posted August 9, 2012 "no smoke without fire....." on the Isle of Man - REALLY!! Link to comment Share on other sites More sharing options...
Manx1Bloke Posted August 9, 2012 Share Posted August 9, 2012 Is Sefton Group actually solvent? Rumours swirl of banks calling in debts, fire sales of assets and Sir Miles frantically staying close to Big Al for protection if.....no smoke without fire..... wiki http://en.wikipedia.org/wiki/Insolvency says:- a business can have negative net assets showing on its balance sheet but still be cash-flow solvent if ongoing revenue is able to meet debt obligations, and thus avoid default: for instance, if it holds long term debt. Many large companies operate permanently in this state. is perhaps this the state the Sefton Group is in?? Link to comment Share on other sites More sharing options...
Manx1e44 Posted August 9, 2012 Share Posted August 9, 2012 Time we had words of re-assurance from an official spokesperson Link to comment Share on other sites More sharing options...
spermann Posted August 13, 2012 Share Posted August 13, 2012 I would like to see a quick decician made on their ownership of the Castlemona. They paid well over the top for it and I would doubt that they can make the numbers work as it would cost several million pounds just to return it to a 3 star let alone a 5 star. Meanwhile the murals are starting to rot. Government need to take action on this important historical building which was once a Palace.... If they sold it for £1 to an investment company who could finance a full refurbishment and then offer a shareholding and dividend back to the Sefton group then this would make a lot more sense. The Sefton board should hang their heads in shame if the Castlemona becomes the next 'Lido'. Link to comment Share on other sites More sharing options...
NeverAgain Posted August 13, 2012 Share Posted August 13, 2012 Yes such a shame to see the Castle Mona rotting away, would be an easy way to create 30+ jobs along with the much needed adjoining leisure facility? Link to comment Share on other sites More sharing options...
Moghrey Mie Posted August 13, 2012 Share Posted August 13, 2012 Wasn't it going to be some sort of computer 'university' ? Link to comment Share on other sites More sharing options...
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