Former Ice Cream Salesman Hits the Skids

#1
RICHARD KAY: Dragon's Den Bannatyne is £122million in debt | Mail Online

Two years ago he was the richest businessman on Dragons’ Den, with an estimated fortune of £430million that put him comfortably among Britain’s top 1,000 earners and with a string of hopefuls begging him to invest in their ideas.
But now not only has Duncan Bannatyne plummeted out of the Rich List altogether, he will have to use all of his Scottish charm to try to seek finance to pay off debts of up to £122 million.
Wealth really is an illusion when all said and done you owe it to the banks. Another example of a business empire being valued on potential future earnings which never materialised.

Anyway what goes round come round.....

Cancer survivor banned from Bannatyne gyms after court case - Telegraph

Bronwen Davies, 60, a nurse, asked for a payment break from her Bannatyne's gym while she received chemotherapy and radiotherapy on her cancer.

But she continued to be charged for her £41-a-month gym membership even though she lay in a critical condition in hospital.

Mrs Davies had to go to court to win a £164 refund for four months fees from the gym owned by the millionaire businessman.

But Mr Bannatyne yesterday branded the nurse a "liar" on this Twitter pages after the case finished.
Arrogant twat
 
#3
'Ice cream' salesman my cock :)
From the DM article...

This latest financial setback follows a costly divorce from his second wife Joanne McCue, which was finalised earlier this year, and company losses that saw his fortune fall to £85 million in 2012.


The former ice-cream salesman turned multimillionaire suffered a stress attack last year that he blamed on his acrimonious split with Joanne.
 
#4
On other threads I have written about the fragile nature of the so called successful, entrepreneurial, hardworking people. That they so often simply fall apart at the first difficulty. "Stress" attack. Poor Duncan. Farmers who cannot cope with having to look for other work when their farms fail, so shoot themselves. etc

And people like Rannulph Fiennes who think the aristocracy is so much tougher than other people. Put him on a council estate on £73 a week and it wouldn't be long before he would be killing himself or sectioned unable to cope.

Anyone is supported by pillars. Health, home, family, mental health, income, self worth. Some people cannot even cope with just one pillar being knocked away.

There are heros but how many of them were heroic when there was no one patting them on the back ?

This is a test Duncan if you can fight your way back then well done.
 
#5
However, being realistic, although his company is in trouble, you can guarantee he has a seriously nice nest egg for himself
 
#6
I skimmed the site in my usual superficial manner and read "Ice cream saleman hits the kids!" So what's ****ing new in that?
 
#7
I'm sorry but this is uninvestable. The accounts are all over the place and the debt is huge.

I'm out.
 
#8
Sounds more like the reporter at the daily mail has NFI whatsoever how a business is run or financed

the company, 'Bannatyne Fitness Ltd' (and that Ltd at the end is a crucial factor here) may be insolvent, but what ****ing relevance does that have to his personal exposure to any losses?
 

seaweed

LE
Book Reviewer
#9
The journos miss a trick if they don't regurgitate his stellar career in the RN earlier in his life.
 
#11
Sounds more like the reporter at the daily mail has NFI whatsoever how a business is run or financed

the company, 'Bannatyne Fitness Ltd' (and that Ltd at the end is a crucial factor here) may be insolvent, but what ****ing relevance does that have to his personal exposure to any losses?
Yes and no. I suspect he has some serious wonga stashed away out of reach of the banks and HMRC but very often when things start to go pear shaped the banks will look for serious commitment by the individual. They may have taken a charge out against some of his property interests or other Company assets as a condition of a new loan.
 
#13
On other threads I have written about the fragile nature of the so called successful, entrepreneurial, hardworking people. That they so often simply fall apart at the first difficulty. "Stress" attack. Poor Duncan. Farmers who cannot cope with having to look for other work when their farms fail, so shoot themselves. etc

And people like Rannulph Fiennes who think the aristocracy is so much tougher than other people. Put him on a council estate on £73 a week and it wouldn't be long before he would be killing himself or sectioned unable to cope.

Anyone is supported by pillars. Health, home, family, mental health, income, self worth. Some people cannot even cope with just one pillar being knocked away.

There are heros but how many of them were heroic when there was no one patting them on the back ?

This is a test Duncan if you can fight your way back then well done.
I sincerely hope that you have a brain aneurysm and suffer long before death graces you with its embrace. My 'ignore' list gets longer every day because of cockmonkeys like you.
 
#14
Bannatyne aside, it’s not an uncommon story for businessmen (and women) to suddenly find themselves facing life on the streets simply by not paying attention.

I went to a coffee morning hosted by an uber business guru a few weeks back and he asked those in the room who was operating in the red, who had not been paid in the last few months and who thinks their business is in trouble. The amount of hands in the air and people nodding was shocking, yet outside, in the car park were all new motors, they all had nice clothes and were all saying how good their businesses were just moments earlier.

That is one of the problems. Some people run businesses into the ground by taking everything out of them and leaving nothing for a rainy day. Many run their business to support their lifestyle and will do anything to maintain it, and when it all goes wrong they lose everything. They may have a limited company, but when you have debtors, company cars and a mortgage paid for by the money you make from the company then watch out, especially when they have been taking money out of the company that they shouldn’t have (happens quite a bit that one) i.e. they are paying themselves a wage when the company should have been paying its bills. That’s when you can end up in deep doo-doo.
Running a company is bloody hard work.
 
#15
Bannatyne aside, it’s not an uncommon story for businessmen (and women) to suddenly find themselves facing life on the streets simply by not paying attention.

I've been there myself. Took my eye off the ball and then watched as what was an easily preventable tidal wave of financial sh*t raced towards me. And trust me when I say it really is a shock. I went into depression, couldn't sleep and lost a considerable amount of weight.
There's no worse feeling than having an empty bank account with payday approaching. It's an easy situation to get into, even when business is good; but it's often impossible to get out of by the time you realise.

I'm not surprised Bannatyne is in trouble. Though I quite enjoyed watching him destroy people's hopes and dreams on Dragon's Den, it struck me that he wasn't really in a position to criticise or advise. From what I gather, his first big business was built on the fact that he could borrow huge sums of money to build care homes; something which would be impossible for the vast majority of people these days.
 
#20
And people like Rannulph Fiennes who think the aristocracy is so much tougher than other people. Put him on a council estate on £73 a week and it wouldn't be long before he would be killing himself or sectioned unable to cope.
The fingerless polar explorer, archaeologist and ex-soldier? You-name-it-he's-done-it Fiennes?

The immense irony of a nutter like you claiming someone like Fiennes would be unable to cope and be sectioned is clearly lost on you and others.
 

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