Former Ice Cream Salesman Hits the Skids

Discussion in 'Current Affairs, News and Analysis' started by geezer466, May 14, 2013.

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

    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

    Arrogant twat
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  2. What's the Scottish for 'schadenfreude'?
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  3. From the DM article...

  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.
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  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.
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  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?
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  9. seaweed

    seaweed LE Book Reviewer

    The journos miss a trick if they don't regurgitate his stellar career in the RN earlier in his life.
  10. Spit it out, chapter and verse....
  11. 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.
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  12. 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.
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  13. 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.
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  14. 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.