Praised and then the knockout blow!!!

[Gagakev]

Got called to our main depot today for our 6 monthly "power" meeting.
MD full of praise for the best year ever, thanked us all for our hard work, quoted our bonus's..............

Then said the firm is up for sale................ now that's gratitude for you 🙁

 

[Hutch]

Feel sorry for you, and anyone that get that sort of news, especially at this time of year. 🙁

 

[Mel]

Does that mean jobs are on the line or is it one big Unknown?
Mel

 

[Gagakev]

Feel sorry for you, and anyone that get that sort of news, especially at this time of year. 🙁

Thanks Hutch, obviously not sure when it will sell so just going to sit it out and see what happens.
But I have to decide if i'm to pay the balance on my first ever seasonal pitch or loose my deposit!!! 🙁

 

[Gagakev]

Does that mean jobs are on the line or is it one big Unknown?
Mel

Hi Mel, one doesnt know just yet, but suspect it will be a few months yet before it is all finalsed but he has to find a buyer first
Anyone got £2.5 to £3.0 million quid in loose change?

 

[Dustydog]

Hang on Kev
You've been here before with this owner.
Remember when you thought you'd had the ace and Jack?
You proved his business was only a success because of the efforts you and your colleagues put In.
Isn't it you who has most dealings with the customers?

Is it worth you and your colleagues talking to a decent bank and considering a management buy out?

Just read your post to Mel.
Does that number relate to future business contracts or plant and machinery?
Where is the value in the business.
Kev
you could set up alone and do this mate

 

[Gagakev]

Hang on Kev
You've been here before with this owner.
Remember when you thought you'd had the ace and Jack?
You proved his business was only a success because of the efforts you and your colleagues put In.
Isn't it you who has most dealings with the customers?

Is it worth you and your colleagues talking to a decent bank and considering a management buy out?

Just read your post to Mel.
Does that number relate to future business contracts or plant and machinery?
Where is the value in the business.
Kev
you could set up alone and do this mate

Yes same owner!!!! say no more or you will get banned Kev!!
yes I deal with all the customers at our depot and keep them happy so as to reap the repeat business.
The figure above is actually lowered from the value it has been put at, 6 x profit plus stock, plant, vehicles, at value is actually nearer £5.0mill but even he knows he wont get that for it.

 

[Martin24]

Uncertainty is always a worry but you can't hold out on everything just incase. Lets face it I should know on that score! Go on as normal for the time being and live life to the full all the time. I do think you have been given some very wise words indeed regarding a visit to a reputable bank. Nothing ventured, nothing gained. Go for it.

 

[Gafferbill]

.......I was made redundant at the age of 47 because the PLC I worked for was embezzled by the managing director and his finance director and the company was forced into receivership.
Those two were jailed for fraud and I was jobless with £2000.00 government redundancy pay.
Hard work after setting up a one man sole trader transport company saw me able to retire at the age of 54.

You never know what the future holds Kevin......onwards and upwards 🙂

 

[Parksy]

This sort of thing is always worrying and this ungrateful owner has cast a dark shadow over your Christmas holiday with his announcement.
The positive outcome will be that no matter what the future holds you will most probably rid your livelihood of this thoughtless mean spirited individual.
You are a bright, competent and personable man Kev, you will always be a great asset to any employer and the people who you deal with through your current job may be able to offer opportunities if it comes to the worst. Good Luck 🙂

 

[Gabsgrandad]

Be careful about 'volunteering' for any thing with the Co., who knows if someone comes along they will need 'knowledge and expertise'. You can sometimes finish up better off with a new employer. (I was 'pushed/coerced' into redundancy at 53. Made plans but found I didn't have to use them. Had 20 years brilliant "retirement and freedom" since then.

 

[Raywood]

Sounds a bit like my daughters work. They made a very small profit last year and were not due a bonus but got one to encourage them. This year they made a good profit but are getting nothing. Next year they may work less efficiently to get a bonus.

 

[Hutch]

Kev, trry not to panic too much just now, my old bass Alan Bristow ( Bristow Helicopters) sold the company, everyone was scared as to what was going to happen, we survived, this has happened three times now to Brisrows. as Grabs says, a succesfully company requires knoledge, and expertise, and by the sound of your friends on here , you have that. , Put out feelers, but a company take over, I believe have to keep on employies, or give redundancies,. Please can some one out there, confirm this.
Dont Panic Mr Mannering. Head up. 😉

 

[Sproket]

Kev, trry not to panic too much just now, my old bass Alan Bristow ( Bristow Helicopters) sold the company, everyone was scared as to what was going to happen, we survived, this has happened three times now to Brisrows. as Grabs says, a succesfully company requires knoledge, and expertise, and by the sound of your friends on here , you have that. , Put out feelers, but a company take over, I believe have to keep on employies, or give redundancies,. Please can some one out there, confirm this.
Dont Panic Mr Mannering. Head up. 😉

Have a read of this Transfer of undertakings (TUPE)

 

[Gagakev]

Thanks for all the advice and kind words folks, really appreciate it.
A lot to think about and what avenue's to take etc .
one things for sure i dont intend to buy and pay him any of my money (or the banks).
The goodwill of the depot has been built up by me, I have the contacts and could start up for a lot less if I wanted to.
That could be a pay back.... the new owner would want to know where the manager went with all the contacts. 😉
But I'm just dribbling on now, break up for two weeks next Tuesday so a good Christmas to look forward to.
Oh and i'm going to pay my seasonal pitch fee balance with his bonus so at least i will have the van to go to next year.
Thanks to one and all.