livestock 1
Member
Did he change his name on here too?A fairly high profile poster on here went bang a few years ago,started up again and left a lot of unpaid debts,it changed my opinion of him.
Buffalo Farm Goes Bust
- Thread starter David1968
- Start date
- Location
- West Suffolk
They only posted this a couple of months ago
- Location
- 200 miles N,NW of New York
That's sort of right, however
One man can be a director of several different companies, let's say 4 companies,
Company A can hold the land,
Company B can rent the land off A,
Company C can own the live and dead stock,
Company B rents off C,
Company B is finding it hard to make it pay, and running at great losses, so files for administration on all debts incurred in the business,
Then along comes Company D and buys out, or takes over Company B,
So the MD of all the companies, losses Company B, but still has A,C and D,
So on Monday morning Company D starts trading,
Or that is how it was explained to me, yes it's sh1tty, but that's how some in the know carry on
Prime example is the Stobbart group, Stobbart Air, got runway extended, new terminal, and bloody big freight sheds all done at Carlisle Airport, there chosen contractors was Stobbart Rail, once work was completed, Stobbart air did not pay Stobbart rail, and Stobbart rail was put into administration, and sold to a German company for 1k that's £1000, but had to take on all the debts at same time,
They took out all the dead wood, slimmed it down and successfully got a lot of rail contracts, sold the business to Land recovery Ltd
Land recovery was struggling, so on the Friday filed for administration, and on Monday morning were trading as Land recovery Carlisle Ltd
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- Location
- somerset
l have a shite waster of a bro in law, 3 properties re-possessed, and gone bust, several times, been sacked from jobs several times. He doesn't give a damn.
restarted his 'business' - not ag, as many times as gone bust. The same bank backs him
which, in my opinion, they deserve him, but each time he leaves debts behind, usually small local ones.
full of big ideas, volcano of hot air, started a business in China, or so he claimed, bust.
goes around pretending to be a big business man, and refused to pay a rent, for his house, for 40+ yrs, don't ask
and yet, he gets away with it, lives fairly well. Me, worked hard, all my life, and have hard earned assets, as someone asked me, 'who's the mug'.
the answer is me, but my attitude to life, would prevent me from that, and l am perfectly happy with my view to business.
restarted his 'business' - not ag, as many times as gone bust. The same bank backs him
which, in my opinion, they deserve him, but each time he leaves debts behind, usually small local ones.full of big ideas, volcano of hot air, started a business in China, or so he claimed, bust.
goes around pretending to be a big business man, and refused to pay a rent, for his house, for 40+ yrs, don't ask
and yet, he gets away with it, lives fairly well. Me, worked hard, all my life, and have hard earned assets, as someone asked me, 'who's the mug'.
the answer is me, but my attitude to life, would prevent me from that, and l am perfectly happy with my view to business.
livestock 1
Member
Lad down the road is an alcoholic got a professional gambling problem goes off on benders for days on end doesn’t come home to see his wife regularly employs a fair lot of people has been like that for yearsl have a shite waster of a bro in law, 3 properties re-possessed, and gone bust, several times, been sacked from jobs several times. He doesn't give a damn.
restarted his 'business' - not ag, as many times as gone bust. The same bank backs him
full of big ideas, volcano of hot air, started a business in China, or so he claimed, bust.
goes around pretending to be a big business man, and refused to pay a rent, for his house, for 40+ yrs, don't ask
and yet, he gets away with it, lives fairly well. Me, worked hard, all my life, and have hard earned assets, as someone asked me, 'who's the mug'.
the answer is me, but my attitude to life, would prevent me from that, and l am perfectly happy with my view to business.
- Location
- somerset
if he's in the pub, no-one will buy him a drink, it won't be 'returned'. Each new l/lord at pubs, are told, no credit, and no cheques. Similar local shops. Know his main supplier, goods supplied, pre paid, card or cash only !
Devil's advocate
Member
- Location
- Posh side of Barnsley
- Location
- Montgomeryshire
Presumably any tenancy would be in his name personally, rather than a company name. Any tenancy in a company name would last forever, which would be very daft for any landlord to allow (although they do exist).
d williams
Member
How does the tax work on the return of goods rather than money???I have helped a small business by crowd funding, I was very happy to do so in the knowledge they were a keen young hard working couple who were setting up a brewery. It is good to see them still working hard and my investment returning a steady flow of beercheers.
Buggerallbandwidth
Member
Yes that just stinks of an inside job.
Exfarmer
Member
- Location
- Bury St Edmunds
Don’t know, but never mind, I have drunk all the evidence
- Location
- Wormingford, Essex
I've been reading some of the comments on Facebook. Seems to be a few people who've put money in and now lost it and you can understand their anger. From what it looks like, the crowdfunding scheme was you 'Invested' either £1,000 or £10,000 (or multiples of) and in return you could have either £100 per year to spend in the shop (£1,000 investment) or £100 per month (£10,000 investment). After 5 years you could either leave the money in or withdraw your capital. If you had put in £10,000 you would have £16,000 back in capital and shop credits after 5 years. Anyone care to guess how many years ago this scheme was started?
Johnnyboxer
Member
- Location
- Yorkshire
Very long but important video to answer some of the questions that have been raised this week from Founders. | There is nothing I can say that will do justice to express how disappointed and sorry I am for all who have been affected. Hopefully this v
There is nothing I can say that will do justice to express how disappointed and sorry I am for all who have been affected. Hopefully this video helps to...
www.facebook.com
It was always insane. I only saw a snippet on the farming programme where he said what he was going to do, it was insane then, and looking at the money spent on that setup it is even more insane now.
Anyone who wants to put £50 into a worthwhile farming venture, buy a share in Fordhall. They wont bullsh!t you with promises of jam tomorrow, they make it quite clear that it's a non-profit shareholding, but you will do a damned sight more good than investing in crackpot buffalo/emu/black nosed valais scams.
https://www.fordhallfarm.com/get-involved/buy-a-share/
Anyone who wants to put £50 into a worthwhile farming venture, buy a share in Fordhall. They wont bullsh!t you with promises of jam tomorrow, they make it quite clear that it's a non-profit shareholding, but you will do a damned sight more good than investing in crackpot buffalo/emu/black nosed valais scams.
https://www.fordhallfarm.com/get-involved/buy-a-share/
- Location
- somerset
friend invested in the Westbury co op disaster,
not a total loss, as he could use it, to offset tax.
- Location
- Devon
Don't let that put you off. What Charlotte and Ben have achieved is truly remarkable.
- Location
- N.Lincs
- Location
- Wormingford, Essex
Yeah, pretty much. Summer 2019 I read.About 4 yrs 11mths
One guy commented that between him and his family, they had £50k in it. I can't see why you'd do it.
Isn’t that what they call a ponzi scheme?