Prosperity4 Administrator Details

[WindyAnna]

Indeed! A restructure doesn't warrant administration unless there is a significant problem.

[richard-af]

See CUK Home page - oh dear!

[richard-af]

From CUK Home page (my emphases):
But Prosperity4 reassured: “We’re telling contractors there really isn’t any problem,” the spokeswoman said. “Nothing is going actually to affect them, they will get their salary as and when they have their normal pay day.”


For the short term, Prosperity4 is not accepting any new contractors onto its books.

“We are hoping that this financial restructure happens quite quickly…” the P4 spokeswoman said. “I don’t know how long [ the restructuring will last] as we were told yesterday but I anticipate a couple of months.”

I know what I'd be doing if I were on the brink of submitting a Timesheet! Parasol, etc., get ready for the the phones ringing.

Seriously, they're finished.

[dickiedoodah]

Time to move

As soon as I heard P4 were in administration I have made plans to move.

I just don’t trust any umbrella company that goes in to administration!

Can't complain though they have been helpful for the short time I have been there and assure me that all moneys owed to me will be paid.
Bye bye P4!

[richard-af]

As soon as I heard P4 were in administration I have made plans to move.

I just don’t trust any umbrella company that goes in to administration!

Can't complain though they have been helpful for the short time I have been there and assure me that all moneys owed to me will be paid.
Bye bye P4!

And a wise man you are.

[BrilloPad]

I was told recently that my "umbrella" was going into administration. Being spread by an agency. Turned out they were just moving things from one company to another. Its all fine.

WA might be right - but I dont trust agents and the dodgy rumours they spread. And before DA pulls me up, I dont trust contractors either.

[ASB]

Administration is by it's nature temporary. So can't argue with "temporary administration". Only question is what comes next and whether they emerge from it.

[MarkOD]

If someone goes in to administration then i believe contracts can be made void meaning if anyone is with them leaving fees wouldn't apply and people can get out if they wish straight away

HTH

[WindyAnna]

Depends on the contract - usually they state "ceases trading", administration is not ceasing to trade.

[richard-af]

It's important, I think, to avoid pondering the infinite permutations and possibilities, else you end up with a Rumsfeld Box on your hands.

Think smart and stay ahead, say I.