Zappa 0 Posted May 9, 2012 Share Posted May 9, 2012 Can a new owner choose to bring the catering at Ibrox in-house again when we exit administration or is it better for the club financially to have it sub-contracted to Azure/Elior? Anyone clued-up on this side of things? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 9, 2012 Share Posted May 9, 2012 don't think so. not even a newco it seems can cancel these. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 9, 2012 Share Posted May 9, 2012 Azure signed a nine-year contract in the summer, I believe. I don't know if it could just be cancelled. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 9, 2012 Author Share Posted May 9, 2012 don't think so. not even a newco it seems can cancel these. What gives you that impression? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 9, 2012 Share Posted May 9, 2012 What gives you that impression? this has been talked about before and that was the concensus. also we have had the money from close so that's no catering money coming in for a long long time. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 9, 2012 Author Share Posted May 9, 2012 this has been talked about before and that was the concensus. also we have had the money from close so that's no catering money coming in for a long long time. So we would have no catering money for a long time if we exit administration via a stand-alone CVA, is that what you're saying? Close Leasing are in the list of creditors though, so surely the administrators have some power regarding that contract? What about exiting administration via a newco route? How would that change the outlook on the potential catering income? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted May 9, 2012 Share Posted May 9, 2012 If it's a newco then the contract would be null and void. If it's the same company then presumably the contract is still in existence unless theadmin process cancelled it. We don't know the financial clauses to ases how good it is. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 9, 2012 Share Posted May 9, 2012 So we would have no catering money for a long time if we exit administration via a stand-alone CVA, is that what you're saying? Close Leasing are in the list of creditors though, so surely the administrators have some power regarding that contract? What about exiting administration via a newco route? How would that change the outlook on the potential catering income? Close Leasing have a fixed charge and will be one of the first to be paid. Rangers were encouraging people to buy food and beverages at games, so there must be some percentage still coming into the coffers. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 9, 2012 Share Posted May 9, 2012 If it's a newco then the contract would be null and void. If it's the same company then presumably the contract is still in existence unless theadmin process cancelled it. We don't know the financial clauses to ases how good it is. If the admin process cancelled the contract, would the caterers have continued to provide a service? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted May 9, 2012 Share Posted May 9, 2012 If the admin process cancelled the contract, would the caterers have continued to provide a service? Possibly if they were to get cash on a game by game basis. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.