Parasol up for sale according to Rob Crossland

[The Spartan]

I think they work on the principle that a professional contractor wouldn't be using an umbrella

A tad harsh don't you think?

[Workaday]

To try to get their money back I guess. With the potential liabilities though (there is a £4m contingent liability in their accounts for VAT), the recent £158m loss by Reed over the expenses thing, and AWR I think they may struggle to get a buyer.

They will still be able to get their money back out though as they have a floating charge over the assets of the Company, and I think their loan is due for repayment fairly soon.

Normally they make a load of cash as well though surely. I suppose Inflexion's view of whether the investment was successful will only be known when they sell. A contingent VAT liability could depress the resale value.

[BolshieBastard]

This has slowly turned into another LTD v Brollie debate again, can't we all just get along lol. On another note to those of you that do run your own LTD's have you ever had a business partner onboard or do you all work as need I say it one man bands. I got talking to another contractor here and him and his best mate run the company together and split everything equally. He was also telling me when he couldn't make a gig for a couple of days due to illness he sent his business partner in his place fulfilling the substitution clause in the contract.

Fair comment.

But, if my ltd co goes tits up, that would be my fault and 'my' money. But if a brolly goes tits up, while that would still be 'my' money, it wouldnt be my fault.

[Waldorf]

To try to get their money back I guess. With the potential liabilities though (there is a £4m contingent liability in their accounts for VAT), the recent £158m loss by Reed over the expenses thing, and AWR I think they may struggle to get a buyer.

They will still be able to get their money back out though as they have a floating charge over the assets of the Company, and I think their loan is due for repayment fairly soon.

I wonder if this is a similar bill that JSA was saddled with a few years ago, which led them into administration. I seem to recall that JSA owed HMRC about £10 million and couldn't pay?

[simondolan]

I wonder if this is a similar bill that JSA was saddled with a few years ago, which led them into administration. I seem to recall that JSA owed HMRC about £10 million and couldn't pay?

Yep, but at least JSA didn't owe PE people millions on top. No shadow of doubt that Inflexion will want to get their money out, and if they can't find a buyer you have to assume they will call in their debt.