Firm closing

[jackwhite]

40 minutes ago, offshoremanxman said:

I wondered who would reply. Its basic economics though isn’t it. If there was a demand for their product they’d still be trading. But they aren’t and the new owner of Bushy’s (who already owns half of Castletown) has already chucked £625K at the commissioners to buy their lawnmower store off them for a brewery. 

Mate, are you at the windup? 🤣

There was a demand for it. He was doing well. He made a mess of the company admin and the company was dissolved. 

I thought I laid out that the type of beer he was selling and that of Bushys are very different. Admittedly he sold some of Bushys himself towards the end.

31 minutes ago, Roger Mexico said:

The guy behind it doesn't seem to setting up anything else at the moment, so the Commissioners couldn't even transfer to someone else.

 

 

Bottle Monkey wanted to go back into the premises at Castletown and go back to court to get his license back. The Commissioners didn't allow it for various reasons. It's clear what a certain person thinks the reason is. 

 

[Banker]

1 minute ago, jackwhite said:

Mate, are you at the windup? 🤣

There was a demand for it. He was doing well. He made a mess of the company admin and the company was dissolved. 

I thought I laid out that the type of beer he was selling and that of Bushys are very different. Admittedly he sold some of Bushys himself towards the end.

 

Bottle Monkey wanted to go back into the premises at Castletown and go back to court to get his license back. The Commissioners didn't allow it for various reasons. It's clear what a certain person thinks the reason is. 

 

Don’t fall into the trap with offshore he’s just an argumentative twat who never admits he’s wrong!!

[offshoremanxman]

9 minutes ago, jackwhite said:

Mate, are you at the windup? 🤣

No wind up at all, you said previously:

“As I've alluded to already, BM ran into issues which led to, what appears to be, a loss of confidence from the Councillors”

Now you say

“Bottle Monkey wanted to go back into the premises at Castletown and go back to court to get his license back. The Commissioners didn't allow it for various reasons”

So which is it? It’s hard to imagine that anyone in business is such an absolute dick that they just let a solvent business dissolve even though according to you it was apparently “doing well”. 

Edited May 18, 2023 by offshoremanxman

[forestboy]

59 minutes ago, offshoremanxman said:

I wondered who would reply. Its basic economics though isn’t it. If there was a demand for their product they’d still be trading. But they aren’t and the new owner of Bushy’s (who already owns half of Castletown) has already chucked £625K at the commissioners to buy their lawnmower store off them for a brewery. 

Thought Tilliard owned half of Castletown!

[offshoremanxman]

1 minute ago, forestboy said:

Thought Tilliard owned half of Castletown!

The other half is owned by the Kirby’s who are the new owners of Bushy’s. 

[jackwhite]

13 minutes ago, offshoremanxman said:

No wind up at all, you said previously:

“As I've alluded to already, BM ran into issues which led to, what appears to be, a loss of confidence from the Councillors”

Now you say

“Bottle Monkey wanted to go back into the premises at Castletown and go back to court to get his license back. The Commissioners didn't allow it for various reasons”

So which is it? It’s hard to imagine that anyone in business is such an absolute dick that they just let a solvent business dissolve even though according to you it was apparently “doing well”. 

He did want to go back in. Financially they were doing fine.

However, in short, the return wasn't done due to an oversight and confusion. Hence the company was struck off eventually.

[offshoremanxman]

2 hours ago, jackwhite said:

He did want to go back in. Financially they were doing fine.

However, in short, the return wasn't done due to an oversight and confusion. Hence the company was struck off eventually.

A bit of an oversight never one annual return filed in three years and missed three strike off letters.

Edited May 18, 2023 by offshoremanxman

[woolley]

40 minutes ago, offshoremanxman said:

So which is it? It’s hard to imagine that anyone in business is such an absolute dick that they just let a solvent business dissolve even though according to you it was apparently “doing well”. 

I have known it. There are some businesses that are apparently doing well because the place is always busy, but the casual observer doesn't realise that the margins are insufficient to carry the overheads. The owner may be enthusiastic about his trade but not financially savvy enough to see the signs of trouble. Then when the bank account turns red and the nasty letters start arriving it's all too easy to bury your head in the sand and carry on digging.

[Numbnuts]

Turnover is Vanity , Profit is Sanity….enough said. Have been there and so easy to fall into the trap.

[offshoremanxman]

17 minutes ago, woolley said:

The owner may be enthusiastic about his trade but not financially savvy enough to see the signs of trouble. Then when the bank account turns red and the nasty letters start arriving it's all too easy to bury your head in the sand and carry on digging.

It would be good to understand more about this situation genuinely. But it’s hard to understand how a company “doing well” submitted no annual return for three years, and then failed to respond to three strike off letters and got dissolved as basically they hadn’t done anything subsequent to getting an incorporation certificate nearly four years earlier. I wonder if their VAT returns were in an equally non existent state. It’s hard to support a claim that they were committed to continue in business when for nearly four years it seems they did literally bugger all to comply with IOM company law. 

Edited May 18, 2023 by offshoremanxman

[Gladys]

28 minutes ago, offshoremanxman said:

A bit of an oversight never one annual return or set of accounts filed in three years and missed three strike off letters.

Manx companies don't file accounts. 

[woolley]

4 minutes ago, Gladys said:

Manx companies don't file accounts. 

Not sure what I've been doing for the past 30 years then, Glad.

[woolley]

8 minutes ago, offshoremanxman said:

It would be good to understand more about this situation genuinely. But it’s hard to understand how a company “doing well” as claimed basically filed no accounts for three years, submitted no annual return for three years, and then failed to respond to three strike off letters and hit dissolved as basically they hadn’t done anything subsequent to getting an incorporation certificate nearly four years earlier. I wonder if their VAT returns were in an equally non existent state. It’s hard to support a claim that they were committed to continue in business when for nearly four years it seems they did literally bugger all to comply with IOM company law. 

Yes. Totally incomprehensible. Clearly needed an accountant on the job. Mind you. Some of the accountants we've encountered over the years, maybe he did!

[Two-lane]

15 minutes ago, Gladys said:

Manx companies don't file accounts. 

Is this one of those questions in SATs exams that people don't understand? Complete the following sentence:

Manx companies don't file accounts, they.....

[jackwhite]

18 minutes ago, offshoremanxman said:

It would be good to understand more about this situation genuinely. But it’s hard to understand how a company “doing well” submitted no annual return for three years, and then failed to respond to three strike off letters and got dissolved as basically they hadn’t done anything subsequent to getting an incorporation certificate nearly four years earlier. I wonder if their VAT returns were in an equally non existent state. It’s hard to support a claim that they were committed to continue in business when for nearly four years it seems they did literally bugger all to comply with IOM company law. 

I can't really say anything else otherwise I'd be giving away what I was told in confidence. 

They hold their hands up and say it's their own fault the company was struck off although it does seem a run of unfortunate incidents too. 

That said there are companies out there who've been trading years who've apparently never submitted a return and the registry haven't picked up on it. They apparently only did on this occasion as it was drawn to their attention following a question.