BBC Watchdog tonight

[Andrewc]

Did anyone else see the BBC Watchdog programme tonight?

 

According to reports a company by the name of Coldseal have gone into liquidation with debts of many millions of pounds. Could this be the same Coldseal whose name was being shouted over the tannoy as sponsors of Hornchurch and had advertising boards all around the 'running track stadium'?

 

Very strange, is their money about to dry up?

[Guest]

my mate said they were owned by/ owners (deleate as applicable), of bryco windows!! i thought he was wrong but i don't know!

[David Holden]

Both Cold Seal and Bryco are part of Carthium

[Blinkjim]

does that mean carthuim have gone kaput!

[Guest]

The murky world of double glazing firms appears to be nothing compared to the murky world of Hornchurch finances!

Their wage bill is an estimated £1.2million/year.

Where does it all come from? Not from gate receipts, but no-one knows who actually owns the Urchins/pays the bills.........

[Andrewc]

Have been doing some digging around and Coldseal and Bryco are one and the same. See below, taken from 'The Derby Gripe'.

 

Quote

 

IN LIQUIDATION

Coldseal stopped trading at the beginning of February 2004 with liabilities of more than £3m and was placed in liquidation. It was one of four Coldseal companies, the others being Coldseal Conservatories Ltd, Coldseal Windows Ltd and Coldseal Windows Manufacturing Ltd.

 

The closure of the companies, and seven others under the Bryco double glazing banner with which Coldseal Ltd merged just prior to liquidation, is being investigated by the liquidator, Begbies Traynor, of Southend.

 

The reason for the scrutiny is that Coldseal Ltd was sold in December 2003 for net asset value and none of its liabilities appear to have transferred to Coldseal Group Ltd, a company incorporated in July, trading from Chelmsford, according to the liquidator.

 

A spokesman for Begbies Traynor said Coldseal Group had sent it "dozens of warranty claims and county court judgments against Coldseal Ltd". There is no suggestion that Coldseal Group Ltd is in financial difficulties nor, at this stage, that it has done anything illegal.

 

The company is anticipating turnover in the region of £75m this year with net profits of £3.5m. Coldseal Group rejected suggestions that warranties were not being honoured and sought to reassure customers.

 

In a statement it said - "In the event of any warranty claims or current trade creditors being mistakenly sent to Begbies Traynor, these are immediately sent back to Coldseal Group and are dealt with by Coldseal Group." Derby Evening Telegraph

 

Contact the Liquidators Begbies Traynor on 01702 467255. Company Registration Number 2674993.

 

Two months later, Coldseal were still advertising in the local and national press for people to buy their windows! Included were the words - 'As seen on TV'. BBC's Watchdog, presumably.

 

Unquote

 

Curious huh, could be another Telford in the making methinks.

[Blinkjim]

lol, funny well all predicted the gravy train may come to halt, is this the begging of the end for hornchurch?? probly not though me thinks!

[David Holden]

This won't affect Hornchurch at all, From what AndrewC has posted the core business is still up and running but some of the subsidiary companies have been placed in liquidation.

 

There seems to have been some fancy footwork beforehand but it is impossible to make any judgement as to what actually happened based on one newspaper article.

[Mepis]

Nothing new in business happens a lot, although it does take a while to get money from a Company in trouble, my Company is struggling to get a small debt of £5000 it has taken 10 months so far.

 

On another note would we object if some Sugar Daddy wanted to bankroll the Fleet, i certainly would not.

[David Holden]

Seems that it is serious for Hornchurch.

 

My sources tell me that the money man has buggered off to Antigua.

[Andrewc]

Just remember folks you heard it here first!

[Hempstead Gaz]

What a sleuth you are Andy!!

Mind you, did you hear about Chris Kinnear, Sam Sodge and ..............................................

[Guest]

Just remember folks you heard it here first!

 

dear AAC, in all the years I`ve known you, you had to get it right once ! Top Man

[Andrewc]

Quote:

What a sleuth you are Andy!!
Mind you, did you hear about Chris Kinnear, Sam Sodge and ..............................................

the chicken?

[Hempstead Gaz]

The fowl (foul. (get it!!)