craig 5,199 Posted February 7, 2018 Share Posted February 7, 2018 6 minutes ago, forlanssister said: Failing to get all the excitement this is generating. I don't view this as a positive step at all. So long as they aren't using the credit/banking facility to run up debt and are still balancing the books, so to speak, then it allows them to operate in times of reduced cashflows. Should only be used as a buffer, not a regular part of working capital, IMHO. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted February 7, 2018 Share Posted February 7, 2018 1 minute ago, craig said: So long as they aren't using the credit/banking facility to run up debt and are still balancing the books, so to speak, then it allows them to operate in times of reduced cashflows. To me it looks like a substitution for the undertaking given by the Chairman to Campbell Dallas. 1 minute ago, craig said: Should only be used as a buffer, not a regular part of working capital, IMHO. Absolutely. 2 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,766 Posted February 7, 2018 Share Posted February 7, 2018 It puts the club on a surer financial footing and also puts to bed some of the daft rumours. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 7, 2018 Share Posted February 7, 2018 Im with forlan on this. 1 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted February 7, 2018 Share Posted February 7, 2018 10 minutes ago, Gonzo79 said: It puts the club on a surer financial footing and also puts to bed some of the daft rumours. I don't think it does either of those things at all. 1 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,306 Posted February 7, 2018 Share Posted February 7, 2018 Most businesses need some sort of credit facility. I'd suggest Rangers aren't any different. To have had no credit facility at all wasn't best practice. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted February 7, 2018 Share Posted February 7, 2018 1 hour ago, forlanssister said: I don't think it does either of those things at all. You probably have more idea of these financial things than I do. Suggestions on the dark side are that Close are 1 star rated ie an expensive option and that any loan will be secured on property. The "cold shoulder" thing and Close giving us facilities has caused some consternation over there as that was their latest big thing to see us go under. Which is nice. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted February 7, 2018 Share Posted February 7, 2018 17 minutes ago, boabie said: You probably have more idea of these financial things than I do. Suggestions on the dark side are that Close are 1 star rated ie an expensive option and that any loan will be secured on property. The "cold shoulder" thing and Close giving us facilities has caused some consternation over there as that was their latest big thing to see us go under. Which is nice. I'n not worried in regards to the longer term. My understanding is that the Albion car park and Edmiston House have been used as security. This is not an "overdraft" and I doubt it's a cheap form of short term finance but our options are extremely limited and it may well have been the least worst option if that makes sense. I won't be losing any sleep over it but it's certainly no cause for any celebration irrespective of how you see it spun. 1 Quote Link to post Share on other sites More sharing options...
Gaffer 1,665 Posted February 7, 2018 Share Posted February 7, 2018 A deal with Close Brothers suggests there is a bigger deal in the pipeline. This is not their normal business so I'm intrigued. If this was a simple facility we needed, why not just ask a high street lender? We have sufficient turnover and assets to secure significant borrowing, or even an overdraft facility. Close is only interested in this if there is something bigger in the near future, and there's only a win in this for us if that's the case too, otherwise Close is an expensive option. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,457 Posted February 7, 2018 Share Posted February 7, 2018 2 Quote Link to post Share on other sites More sharing options...
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