O/T - Business - Casual Staff Needed

[thegentlegiant]

hi Fellow sv's, i've just had some shocking news for which will prob put my business out of business, Total fitness have announced that total fitness uk ltd have gone into admin, leaving me out of pocket for which I was due to use this critical income to advertise my business and keep my car running and other bits..

Total fitness were then bought straight out by a new firm but they have not taken on the dept, where does this leave me?

Anyone have any idea's??

[marky No.1]

Do, do I'm afraid Sam Sign of the times mate. What's the new company called? Not Total Fitness UK 2010 by any chance? Leeds utd did this did they not?

It appears they are blaming Landlords for charging so much rent. Nasty people landlords

[thegentlegiant]

Do, do I'm afraid Sam Sign of the times mate. What's the new company called? Not Total Fitness UK 2010 by any chance? Leeds utd did this did they not?

It appears they are blaming Landlords for charging so much rent. Nasty people landlords

Not sure mark, yes leeds did the same.

I have been told the administrators will be in touch soon...no good to me as looks like i will have to sell my car!!

Gutted!

[mrpotatohead]

this post is a wind up, you started this business up a few weeks ago, and becauase total fitness owe you a few quid thats it

your website looks ok

have you other customers apart from total fitness

how much are you owed

[shrimpnsave]

this post is a wind up, you started this business up a few weeks ago, and becauase total fitness owe you a few quid thats it

your website looks ok

have you other customers apart from total fitness

how much are you owed

WHAT ,how is it a wind up???? from the multiple wind up merchant of all?????????????

[mrpotatohead]

blokes in admin in a few weeks, all due respect in difficult times, a few leaflets on behalf of total fitness, well, house built on sand springs to mind

[Posh]

What you've described is a pre-pack administration. Essentially they've pre-agreed everything with their preferential creditors, e.g. banks, and leading non pref creditors, e.g. the people who own the freeholds of their gyms. Effectively it's a stitch up. You're at the bottom of the list. Once the insolvency practitioners have done their worst (up to £800 per hour for a partner) and the preferred creditors have their cash you'll be lucky if you get 10p on the £ but more likely nothing. Your best chance is to talk to your original contact and see if you can get something out of them. We've been hit about 15 times by insolvency of clients but never been badly hit because we've learnt to know when their in trouble and get the cash in before they go tits up.

Hope you get something sorted. Ignore Senor Spud Face. Frankly when he has a go like this he's acting like a ****.

[mrpotatohead]

been trading 21 years posh, my comments were a lot more constructive than anyone elses when GG was starting up, your advice is a bit little too late , stick to what you know best

[thegentlegiant]

What you've described is a pre-pack administration. Essentially they've pre-agreed everything with their preferential creditors, e.g. banks, and leading non pref creditors, e.g. the people who own the freeholds of their gyms. Effectively it's a stitch up. You're at the bottom of the list. Once the insolvency practitioners have done their worst (up to £800 per hour for a partner) and the preferred creditors have their cash you'll be lucky if you get 10p on the £ but more likely nothing. Your best chance is to talk to your original contact and see if you can get something out of them. We've been hit about 15 times by insolvency of clients but never been badly hit because we've learnt to know when their in trouble and get the cash in before they go tits up.

Hope you get something sorted. Ignore Senor Spud Face. Frankly when he has a go like this he's acting like a ****.

Cheers Posh,

its tough on my little business, even though it might not be serious money to them it is to me and my business, I was hoping I could use the money from the total fitness to do some advertising and promoting of my business. This will not stop my business but will certainly put things on hold temp.

Thankfully I used my business brain and paid for a course for which I am due to do in Manchester this coming weekend, it will get me my SIA licence. I have already lined some work up for which I can remain self employed while working for this company.

I am a very determined young person and have never let anything get in my way.

P.s - I have no time for people like potatohead! and he was dully ignored.

[mrpotatohead]

sorry if i offended you in any way GG, and i hope you turn things around, I would suggest approaching your direct point of contact at total fitness man to man and askin him or her where your money is

[Pobble]

You have my total sympathy. Four years ago a very large national company did the same to me to the sum of £250K and they started again three days later with about £150K of my goods staring me in the face but I could do nothing legally about it.
I was advised by Insolvency Consultants to go into liquidation but I couldn`t bring myself to do it as I did not want to let down a lot of small suppliers who desparately needed paying. As a result my debts are still being paid off now.
The moral is I would have been much better off taking advice and going bust and starting again, I now sometimes wish I had done.
Best wishes and good luck to you.

[Ntini]

mrpotatohead, what planet are you on? You come on here and have a go at someone and his business acumen when you don't know all the facts and insult the guy. Then when someone tries to offer a bit of help and support you fire him down, claiming that Posh is spouting crap, only to then apologise and offer the very same advice! Amazing!!!

May the real wind-up merchant please step forward...... mrpotatohead, take a bow!!!

[marky No.1]

He won't appear till after dark. Maybe got a chip on his shoulder now

[Blackburn shrimp]

Ah Mr Spud what about our little wager last season im sure my chosen charity would love your donation must have slipped your mind

[DTSJim]

For what it's worth I've a couple of observations for you as well

Firstly, in your industry and the stage that your business is in you really shouldn't be offering customers much in the way of credit terms. These are fairly small amounts of money to these people and generally they have the cash to spend. On the other hand I think if it's to secure a large contract then it's worth it and I don't think many could predict that such a big company would drop off like that.

The lesson is obviously to do a bit of research into companies before you get yourself too much exposure and dependancy to one customer, I would suggest starting to regularly read a business paper and then you can get a feel for how you feel a customers sector is faring and any doubts about their solvency.

As it is though I think you've got the right idea to get customers in, I would suggest asking for money up front from the vast majority of customers, and for the larger ones, a deposit to cover some of your risk isn't the worst idea in the world.

Hope that helps.

[mrpotatohead]

See link, total fitness have got bigger,

GG NEEDS TO SEE HIS LOCAL MANAGER, SIMPLE AS

http://uk.wrs.yahoo.com/_ylt=A03uv8NiPb ... k/holding/

Direct contact is key to basic existence in any line of business