Numbnuts Posted August 25, 2023 Share Posted August 25, 2023 13 minutes ago, Omobono said: Well , if correct that didn't last long and the decision to award this contract has severely effected several local businesses hope Jason is getting ready to ask a few due diligence questions , come September I know a bit about this business and there was a few companies showing interest in the contract including the Company who have supplied the merchandise for previous years. The main problem as far as I can see has been the AG’s office and DofE dragging their heels over the terms of contract and dreaming up so many hoops any potential operator would have to jump through. So it finally ended up with Cube being the only one due to the unworkable time span left to source goods from the likes of China. I believe Cube only signed the contract in February . Far too late !!! So we have what we have , poor expensive garments with inflated prices and limited range. If this is all true then there’s only one operation at fault in all this and it’s our own Government . And as a foot note if true this is going to have a similar problem for next years TT as in previous years orders would be in to China and the likes for garments and items very shortly. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted August 25, 2023 Share Posted August 25, 2023 Just now, Numbnuts said: I know a bit about this business and there was a few companies showing interest in the contract including the Company who have supplied the merchandise for previous years. The main problem as far as I can see has been the AG’s office and DofE dragging their heels over the terms of contract and dreaming up so many hoops any potential operator would have to jump through. So it finally ended up with Cube being the only one due to the unworkable time span left to source goods from the likes of China. I believe Cube only signed the contract in February . Far too late !!! So we have what we have , poor expensive garments with inflated prices and limited range. If this is all true then there’s only one operation at fault in all this and it’s our own Government . And as a foot note if true this is going to have a similar problem for next years TT as in previous years orders would be in to China and the likes for garments and items very shortly. All true. For a fact, the DfE kept Roy Wilson dangling waiting for their decision until it was too late for him to be able to make and move on arrangements for this year. Whether this was intentional because they'd already decided to appoint Cube or whether it was just rank incompetence is yet to be revealed. What it has resulted in is an established local operation with known, good quality merchandise supporting the TT closing down. 2 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted August 25, 2023 Share Posted August 25, 2023 1 minute ago, Non-Believer said: All true. For a fact, the DfE kept Roy Wilson dangling waiting for their decision until it was too late for him to be able to make and move on arrangements for this year. Whether this was intentional because they'd already decided to appoint Cube or whether it was just rank incompetence is yet to be revealed. What it has resulted in is an established local operation with known, good quality merchandise supporting the TT closing down. Agreed and other local companies sourcing from Roy severely compromised in their operation. Fingers crossed that Roy Wilson might be back very soon. Nice guy , savvy but so knows the business of merchandising garments. 1 Quote Link to comment Share on other sites More sharing options...
NoTail Posted August 25, 2023 Share Posted August 25, 2023 25 minutes ago, Numbnuts said: Agreed and other local companies sourcing from Roy severely compromised in their operation. Fingers crossed that Roy Wilson might be back very soon. Nice guy , savvy but so knows the business of merchandising garments. Roy won't be back. All leases given up. No warehouses. The shop is now let so no main outlet. Key support staff have moved on. Roy is getting old and has family to care for. Quote Link to comment Share on other sites More sharing options...
Weliveinhope Posted August 25, 2023 Share Posted August 25, 2023 15 hours ago, Blade Runner said: Remember its for 3 and a half weeks in 52 and think again.............. Why dont you just fuck off? I dont get why anyone would waste their precious time with the sort of utter bollocks you spout. You think the UK is any better, fucking dream on. Its as much as a fuck up, if not more, than this place is. You really are a sad prick. 1 Quote Link to comment Share on other sites More sharing options...
La Colombe Posted August 25, 2023 Share Posted August 25, 2023 30 minutes ago, Weliveinhope said: Why dont you just fuck off? I dont get why anyone would waste their precious time with the sort of utter bollocks you spout. You think the UK is any better, fucking dream on. Its as much as a fuck up, if not more, than this place is. You really are a sad prick. You seem a bit cross. Don't give up hope. Quote Link to comment Share on other sites More sharing options...
Weliveinhope Posted August 25, 2023 Share Posted August 25, 2023 5 minutes ago, La Colombe said: You seem a bit cross. Don't give up hope. Its just tedious, he comes on here holier than thou, we're better than you. Whats the point, is he 12? Quote Link to comment Share on other sites More sharing options...
The Phantom Posted August 25, 2023 Share Posted August 25, 2023 1 hour ago, Numbnuts said: AG’s office and DofE dragging their heels over the terms of contract and dreaming up so many hoops Sounds all too familiar. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted August 25, 2023 Share Posted August 25, 2023 16 hours ago, Numbnuts said: Apparently the goods that are being invoiced here are from another branch to the one who’s in receivership. Plot thickens … Cube international and not Cube partnership . The announcement - only made at the end of this January - stated: Under the contract, Cube Partnership as the licensee are committed to both a minimum guarantee and to pay a royalty to the Isle of Man Government for every item of TT merchandise sold under this licence for high volume apparel and accessory categories, in line with standard sports industry practice. So it was definitely Cube Partnership and it will be interesting to see what the DfE have received from this as opposed to what they received under previous arrangements. I suspect nothing so far and that it will stay that way as preferential creditors take any assets. 16 hours ago, Non-Believer said: My gut feeling is that they would have been sold a very expensive crock of shit by DfE in respect of potential sales volumes and revenue, one should remember that these are the people who aspire to having the TT matching BSB/short circuit and F1 following, status and coverage. If Cube were told that this was the sort of market that they would be selling to (and thus paid handsomely for the merchandising rights to), then they've found out the hard way that it isn't. Except that Cube International represent themselves as being experts in the field and do indeed seem to have quite a lot of experience. So they're hardly innocent country bumpkins being fooled by sophisticated city slickers, they should have been able to assess the situation and walk away if they were being mucked around by the tardiness of DfE and the AG's Department. But of course the agreement was with Cube Partnership whose dedicated website is currently unavailable but whose page on Cube International's website still promotes itself as: an innovative sports retail, ecommerce, licensing and merchandise business. A company that works with sports organisations, teams, rights holders and events to create exceptional retail experiences for spectators and fans. So again hardly lacking in relevant experience. There's a lot to be untangled here and the accounts that Two-lane posted are interesting. Whether anyone will be inclined to investigate is another matter. Quote Link to comment Share on other sites More sharing options...
La Colombe Posted August 25, 2023 Share Posted August 25, 2023 35 minutes ago, Weliveinhope said: Its just tedious, he comes on here holier than thou, we're better than you. Whats the point, is he 12? He's just trolling. In a rather ham fisted way if you ask me. Quote Link to comment Share on other sites More sharing options...
2112 Posted August 25, 2023 Share Posted August 25, 2023 3 hours ago, Omobono said: Back to the TT topic , rumours abound that CUBE the company selected by the DFE has gone into liquidation , perhaps thats why the big marquee tent behind the grandstand has stood empty all week and hardly anyone seen wearing their £27 t shirts and other rip off price merchandise, Well , if correct that didn't last long and the decision to award this contract has severely effected several local businesses hope Jason is getting ready to ask a few due diligence questions , come September Asking questions is one thing, getting answers is another. Accountability and Transparency is non existent I am afraid. 1 1 Quote Link to comment Share on other sites More sharing options...
Mistercee Posted August 25, 2023 Share Posted August 25, 2023 Cube Partnership Ltd appears to have been placed into Creditors Voluntary Liquidation in August 2023. The Statement of Affairs shows total assets with a book value of £212k which are estimated to realise £62k. Secondary Preferential Creditors ( VAT and PAYE) total £631k. Unsecured Creditors total £1,624k and the total Estimated Deficiency is £2,212k. The Company appears to have been insolvent in March 2021 so how in the name of glory did our wonderful Government sign up to do business with them? Anyone with an ounce of commercial acumen and the ability to read and understand a set of accounts would have run a mile in the opposite direction. To me it looks like a classic case of "overtrading". What is going on? Every contract Government gets into either goes TU or is a financial disaster but frequently both. 2 Quote Link to comment Share on other sites More sharing options...
slinkydevil Posted August 25, 2023 Share Posted August 25, 2023 1 hour ago, Mistercee said: What is going on? Every contract Government gets into either goes TU or is a financial disaster but frequently both. It's just a game of Monopoly played by people who don't know how to play Monopoly. 2 Quote Link to comment Share on other sites More sharing options...
Amadeus Posted August 25, 2023 Share Posted August 25, 2023 Cube International is carrying on and is the name on the back of all the MGP merch right now. Could it be they left all the bad business and creditors in the other one and let it go pop? Could that also mean it’s going to negativity affect the reputation of the island? What supplier will deal with this place if there’s a real risk you don’t get paid? 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted August 25, 2023 Share Posted August 25, 2023 (edited) 5 hours ago, Roger Mexico said: The announcement - only made at the end of this January - stated: Under the contract, Cube Partnership as the licensee are committed to both a minimum guarantee and to pay a royalty to the Isle of Man Government for every item of TT merchandise sold under this licence for high volume apparel and accessory categories, in line with standard sports industry practice. So it was definitely Cube Partnership and it will be interesting to see what the DfE have received from this as opposed to what they received under previous arrangements. Roger , have it from a very good source that it is Cube International that have invoiced the goods. As I said plot thickens. Edited August 25, 2023 by Numbnuts Quote Link to comment Share on other sites More sharing options...
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