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    Financial abyss awaiting Town

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    Trainset

    Posts : 43
    Join date : 2018-05-28

    Financial abyss awaiting Town Empty Financial abyss awaiting Town

    Post by Trainset on Fri Jul 10, 2020 4:54 pm

    Shake a bit of life into this message board with the annual, this club is fecked when the Weavers jog on post.

    Away from yet another year of big losses, this was ominously also included in the annual accounts......[You must be registered and logged in to see this image.]
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    Dolf87

    Posts : 15
    Join date : 2016-08-23

    Financial abyss awaiting Town Empty Re: Financial abyss awaiting Town

    Post by Dolf87 on Thu Aug 13, 2020 3:08 pm

    This statement doesn't indicate the club fecked when the Weavers leave. . Furthermore the club was completely fecked before they arrived. So just enjoy the ride and hope that they keep their word that they leave the club in better shape then it was before they arrived.

    Trainset likes this post

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    Trainset

    Posts : 43
    Join date : 2018-05-28

    Financial abyss awaiting Town Empty Re: Financial abyss awaiting Town

    Post by Trainset on Mon Aug 17, 2020 6:33 pm

    Fair play for the response. Many don't seem to give a toss about the scale of losses and I suppose this is understandable at present....like worrying about the hangover during a drinking session. Ignorance is indeed bliss but in behaving like this the long term patrons of the club are failing in their role of asking questions that need asking for the good of the club long after the Weavers. The amount of losses would send any club of our size under, not to mention any obligation to repay strata.

    The statement is certainly unusual, why make it if the long term is fine? And for me it has worrying warning signs....let's hope the recession doesn't impact for folks desire to buy pricey new builds eh.

    I think a reread of that final paragraph bears this out.

    It would be an invaluable question to hold the owners to in terms of writing off any of the +£5m debt that has been accrued on stratas books over the years. Simple question with a huge answer.

    Leaving the club 'in a better state' is hugely subjective, particularly in the context of how the club is positioned as a sub co, the debt built up and the tone of the statement in their annual accounts.

    Wonder if anyone has big enough balls to ask this question??

    Will the debt be written off when they leave?

    Simples

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