Originally posted by gizzmo
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Parasol Umbrella seem to have disappeared today
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Last edited by eek; 17 January 2022, 07:44. -
Originally posted by eek View Post
If you look at a Parasol pay summary (not the payslip but the bit that contains the employer tax breakdowns) you may see 3 pension figures, not 2... One of them (the smallest one) is a trick that sends some extra money into Parasol's pocket.Leave a comment:
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Originally posted by courtg9000 View Post
Pensions trick, please kind Sir?
think that should be enough of a clue
Originally posted by eek View Post
If you look at a Parasol pay summary (not the payslip but the bit that contains the employer tax breakdowns) you may see 3 pension figures, not 2... One of them (the smallest one) is a trick that sends some extra money into Parasol's pocket.Last edited by eek; 16 January 2022, 16:40.Leave a comment:
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Originally posted by eek View Post
Wouldn’t say they are going under but I would also say looking at that and the FCSA financial requirements it’s got to be a painful conversation
and it does explain the reason behind the pension trick that’s been spottedLeave a comment:
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Originally posted by courtg9000 View Post
It's not healthy. BUT I have seen PE backed companies with much, much worse states of affairs that are happily trundling along and trading ok. Granted there is some cause to be worried I guess. If I was still a contractor and had very little or no knowledge of PE then I would rightly have cause to be very concerned. Anyone have a rough idea what the accounts payable backlog looks like currently, including contractors?
and it does explain the reason behind the pension trick that’s been spottedLeave a comment:
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Originally posted by I am tired TIRED View Post
Not sure of the veracity but this was posted on Trustpilot a few days ago by 'Parasol contractor' under header 'Going Under?':
I have looked at the Group's accounts. They have bank loan of £102m at a rate of minimum LIBOR of 0.75% + 7% and shareholder loans of £49m at 10% and the latter have had no interest or principal repayments for 2 years. Group profit before financing costs £7m. Financing costs £17m. Net shareholders' funds negative £48m. I suspect they're going under, I would get onto your agencies asap and find out what happens if they do
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Originally posted by Johngerald View PostIs it just me ? But I’m not convinced that this is just a Systems “issue” - is anyone aware of the current financial state of Parasol ?
I have looked at the Group's accounts. They have bank loan of £102m at a rate of minimum LIBOR of 0.75% + 7% and shareholder loans of £49m at 10% and the latter have had no interest or principal repayments for 2 years. Group profit before financing costs £7m. Financing costs £17m. Net shareholders' funds negative £48m. I suspect they're going under, I would get onto your agencies asap and find out what happens if they doLeave a comment:
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Originally posted by cojak View Post
Go and look at their accounts at Companies House.
I can’t be arsed myself.
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Originally posted by Johngerald View PostIs it just me ? But I’m not convinced that this is just a Systems “issue” - is anyone aware of the current financial state of Parasol ?
I can’t be arsed myself.Leave a comment:
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Originally posted by gruntling View PostRecent email
"The root cause of this issue has been identified as malicious activity on our network. This activity did not enter via the core Parasol platforms, but to ensure the safety and integrity of your data, we suspended our systems to protect the Parasol community. As you know, this included the MyParasol portal and our usual outbound and inbound communication channels."
With regard to contacting them, as per the emails:
Livechat - doesn't work
Phone - nobody answers - it just rings out
email - nobody responds.
Total mess. I've already been looking around for other Umbrella's. I'd rather work via my own Ltd Co - but the end clients in the financial sector won't permit that model anymore.Last edited by pacontracting; 14 January 2022, 17:30.Leave a comment:
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