TT 2023

[Nellie]

3 hours ago, Mistercee said:

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. 

Overtrading, in itself, is not an offence. 

To me, it looks more like a classic case of 'trading while insolvent', which is a serious offence.

[Roxanne]

TT merchandise company goes into administration Parent company says it has developed range for TT 2024

The off-island company to which the government said it awarded a TT merchandising contract just eight months ago has gone into liquidation.

But the Cube Partnership’s parent company insists it holds the contract - and has already developed a range of merchandise for sale at TT 2024.

Cube Partnership, which the Department for Enterprise said it had agreed a deal to supply merchandise earlier this year, has entered voluntary liquidation.

The UK based firm replaced island-based Motorsport Merchandise as the official supplier for TT merchandise earlier this year.

In January this year the government said: ‘The Department for Enterprise has entered into contract with Cube Partnership for the licensed supply and production of official Isle of Man TT Races merchandise.’

Records held by Companies House in the UK show that the company had debts of over £2m when it appointed liquidators in July this year.

The chief executive officer of Cube International Group, Andrew Graham, said: ‘Despite the forecasts providing a more positive outlook, the reality, on the back of a COVID Pandemic, and a less than positive economic position, was not such a positive story and I can confirm that we have closed Cube Partnership.

‘It was clear that partnership was carrying too much debt, with ineffective strategic realignment to manage a way through it in the timescale necessary.’

He added that the wider group, including Cube International Ltd, ‘continues to trade through the historic challenges and has successfully delivered at the Isle of Man TT’.

Mr Graham also said that the licence for TT merchandise is held by Cube International Ltd and that it is ‘already developing a new range of Merchandise for the 2024 Isle of Man TT Races and is looking forward to sharing these designs with Isle of Man based retailers shortly so that they can place orders and provide merchandise for their customers in 2024’.

We have asked the Department for Enterprise for more clarity around the contract it signed earlier this year and if it was informed that Cube Partnership was due to enter liquidation.

[NoTail]

The contract is between Cube Partnership and IOMG not Cube International and IOMG. The draft contract presented to Motorsport Merchandise was very precise that it was voided in the event of liquidation.

[WTF]

2 hours ago, Amadeus said:

Could that also mean it’s going to negativity affect the reputation of the island? 

HA HA HA HA HA HA !!!!!....................................🤣   the reputation is so good now isn't it.........🙄

[Roger Mexico]

3 hours ago, Numbnuts said:

Roger ,  have it from a very good source that it is Cube International that have invoiced the goods. 
As I said plot thickens. 

Oh I wasn't doubting you, just pointing out that at the time the DfE were clear that it wasn't.  Now it's a different story. 

Despite the liquidation happening last month , it's quite amusing that it only appears in the media after being reported in Manx Forums, based on no more than a rumour and a quick google.  I suppose it could be a coincidence that the media (who could have found this out and reported any time in the last three weeks if not longer) just happen to come up with it the next day.

Gef at least has done a bit more research and has a version of the story that also links to their copy of an undated statement that Cube International have released in response to queries, which claims:

At all times, employment, and debt management, respecting the ethical approach to satisfying both, was uppermost in our minds. No staff positions were directly lost through this process and Partnership debt was restructured and transferred to a new trading entity.

though nothing about the 'restructuring' appears in their News on their website which has been restructured since earlier today (another coincidence) to remove all references to the Partnership.  

[Numbnuts]

38 minutes ago, Roger Mexico said:

Oh I wasn't doubting you, just pointing out that at the time the DfE were clear that it wasn't.  Now it's a different story. 

Despite the liquidation happening last month , it's quite amusing that it only appears in the media after being reported in Manx Forums, based on no more than a rumour and a quick google.  I suppose it could be a coincidence that the media (who could have found this out and reported any time in the last three weeks if not longer) just happen to come up with it the next day.

Gef at least has done a bit more research and has a version of the story that also links to their copy of an undated statement that Cube International have released in response to queries, which claims:

At all times, employment, and debt management, respecting the ethical approach to satisfying both, was uppermost in our minds. No staff positions were directly lost through this process and Partnership debt was restructured and transferred to a new trading entity.

though nothing about the 'restructuring' appears in their News on their website which has been restructured since earlier today (another coincidence) to remove all references to the Partnership.  

Not heard the last of this am sure 

And about three weeks ago it was known over here , not public knowledge mind 

Edited August 25, 2023 by Numbnuts

[Cambon]

On 8/24/2023 at 5:03 PM, woolley said:

I think it will always be called into question though. Particularly where there is more than just the individual at risk. I've been behind 2 "old fossils" on the road today who absolutely should not be driving. 15mph on a clear road, one of them.

I appreciate that it is wrong to tar all with the same brush, but it will happen inevitably. I remember the Salisbury train crash last year in which the driver sustained life changing injuries, and there was a lot of shock and comment about his age which was approaching 75. "And he's still driving trains??!!!".

He was later found to have acted impeccably.

https://www.irishnews.com/news/2022/05/03/news/salisbury_train_crash_driver_acted_impeccably_says_operator-2660015/

Hang on there, I agree, the majority of over 65s should not be driving. Some should not even be allowed to leave the house! However, 50 years ago, anyone who made 65 looked half dead anyway from smoking, working down mines or in asbestos factories, cotton mills, etc. Times have changed. Most people don’t smoke. Don’t work in mines, etc.  Many actually take their health seriously and exercise. Myself included. But, some people enthusiastically jump on the bandwagon that advancing age is a negative. It isn’t. And, it is better than the alternative! 

[woolley]

24 minutes ago, Cambon said:

Hang on there, I agree, the majority of over 65s should not be driving. Some should not even be allowed to leave the house! However, 50 years ago, anyone who made 65 looked half dead anyway from smoking, working down mines or in asbestos factories, cotton mills, etc. Times have changed. Most people don’t smoke. Don’t work in mines, etc.  Many actually take their health seriously and exercise. Myself included. But, some people enthusiastically jump on the bandwagon that advancing age is a negative. It isn’t. And, it is better than the alternative! 

I never said the majority of over 65s should not be driving. I don't believe that at all, although some certainly shouldn't. However, there's a world of difference between driving and riding the TT course competitively.

Advancing age is a negative though. It is better than the alternative in most circumstances, but not all. However young, and no matter how much time we think we have, it's later than we think.

[ADELE]

There has been a lot of comments on FB regarding the quality of the merchandise especially as it was expensive compared to previous years, apparently some stock was not dated so could be put out for sale next year but if the quality isn’t there there will be a few burnt fingers.

[Numbnuts]

1 hour ago, ADELE said:

There has been a lot of comments on FB regarding the quality of the merchandise especially as it was expensive compared to previous years, apparently some stock was not dated so could be put out for sale next year but if the quality isn’t there there will be a few burnt fingers.

Pretty much most is not dated these days. Minimum due to fears held over from Covid times. There was a lot of sale or return or ability to draw of from supplier previous years but Crew insist stock is pre ordered and paid for earlier. So not really able to bump up stock levels. However with the garments being so poor supply has not been an issue and indeed lots have returned stock for credit .

And as to costs TT Shirts on Queens Prom still doing own designs T’s at £11 99 and similar . 

Edited August 27, 2023 by Numbnuts

[ADELE]

Over the years I have bought sweaters, not TT, from the shop on Queens Promenade and you cannot wear them out the quality has always been first class and wash after wash they come up like new.   Fantastic value.

[Kopek]

Do yopu want TT merch to last long? Surely the embarrassment of wearing any logo'd apparel would confine it to the bottom draw???

I've had Fruit o the Loom t-shirts, in the 70's, when no one would have recognised the brand and Guiness free bees that I have never worn in public! Bed wear only!!!

It would damage my pride to wear a TT shirt!!!

[CrazyDave]

Nice countdown to when the fun starts again at the grandstand.

[Gizo]

great

[Mr Helmut Fromage]

2 hours ago, CrazyDave said:

Nice countdown to when the fun starts again at the grandstand.

That works out at £370 per day of tax payers money to subsidise Nathan Harrison on his IOM Government Honda sponsored ride - I’m certain this years value for money £100k is another lump in the Paul Phillips carpet that is beyond question.