Elite Sports must be headed into administration - club shop deals collapsing at Millwall, Coventry, Southampton, Bristol City and others

BombersBoots

Well-Known Member
I wonder if there is anyone with a track record of buying distressed companies who could buy them out of administration and take up any legal fights they have ongoing...
Just don’t that wouldn’t surprise me in the slightest.
 

Supermac1872

Well-Known Member
Official Ticketer
Not been in town for ages, but assume the ‘Rangers’ store in St Enochs is now closed if not already? Surely must have been costing them money to keep it open after Castore took over.
 

Pep_x

Well-Known Member
I'm guessing we will be a major creditor as well given they never payed us the money they were meant to.
 

Timardim

Well-Known Member
They are in admin but i dont think it will affect their claim against us.

Administrators will be bound to see it through to try and recoup money for the creditors.
Correct , may not be the best scenario for us if we do owe them as they tend to be more aggressive in pursuit .
 

Mr Wilton

Tolkien Gesture
They are in admin but i dont think it will affect their claim against us.

Administrators will be bound to see it through to try and recoup money for the creditors.
Depends how much it would cost, likely chance of winning and if they have a good chance of winning we could offer a largely reduced value which the administrators would likely accept to get cash in.
 

Doctor Rock

Well-Known Member
Could take years for this to be resolved. Also because we are being sued for £9.5m doesn't mean we owe them that amount, especially as they don't know the sales figures.
 

fotze2

Well-Known Member
Official Ticketer
Depends how much it would cost, likely chance of winning and if they have a good chance of winning we could offer a largely reduced value which the administrators would likely accept to get cash in.
Those buggers are always in for it for themselves. They won’t be distributing anything to creditors. We’ve been victims of quite a few events over the years, and I don’t ever recall us getting anything, not even a penny from the administrator.
 

chilebear

Well-Known Member
I'm always skeptical about these companies going into admin.

Is the fat bassa waiting in the wings to save them?
 

Mac72

Well-Known Member
Is it Hummel or Elite that have the £9.5m case against us?
It will be Elite. Hummel seem to design the strip and sell on the distribution rights. It's the reason Everton are fine strip wise as they don't have a deal with Elite for Hummell strips.
 

TerryMunro

Well-Known Member
Can they use the potential £9.5m as collateral against any liquidation threat. The trouble they have found themselves in and the time they have waited to act seems like an act of desperation to me.
 

BroomloanWATP

Well-Known Member
Official Ticketer
Doesn't really make a difference if they go bust or not because if there's a realistic potential of £9.5m for creditors then the administrators will have a duty to continue the action.
 

Valley Bluenose

RTV? Completed it mate!
They are in admin but i dont think it will affect their claim against us.

Administrators will be bound to see it through to try and recoup money for the creditors.
They will. On the other hand the Administrators might be willing to cut a deal at a reduced rate rather than incur the costs of a legal battle. Probably unlikely, but there must be a bit of potential there if we ask the question at the right time.
 

joseph

Well-Known Member
Official Ticketer
They will. On the other hand the Administrators might be willing to cut a deal at a reduced rate rather than incur the costs of a legal battle. Probably unlikely, but there must be a bit of potential there if we ask the question at the right time.
Maybe I’m being naive but the judge in previous case ruled that rangers were not entitled to £2.4m from sales as there was not a contract in place.
Rangers then went with Castore
Elite are now demanding compensation from sales for a period that there was no contract for (according to previous judge)
Surely rangers could counter claim for £2.4m if this is the case
 

Valley Bluenose

RTV? Completed it mate!
Maybe I’m being naive but the judge in previous case ruled that rangers were not entitled to £2.4m from sales as there was not a contract in place.
Rangers then went with Castore
Elite are now demanding compensation from sales for a period that there was no contract for (according to previous judge)
Surely rangers could counter claim for £2.4m if this is the case
So many cases I’ve lost track in all honesty. I’m aware we wanted some cash from Elite and didn’t get it. I’m also aware that, from their perspective, we didn’t fulfil our part of our contract with them - because the Court ruled that we couldn’t. How you unravel all that I’ve no idea. I suspect a Court case doesn’t really suit either party so an agreed settlement might be the way ahead and might save us - a little - money. That’s probably me being optimistic though.
 

TreacleTownBear

Well-Known Member
I can't avoid Mike Ashley, Rangers sever their ties and he rocks up around the Sky Blues. Oh I long for the days when football was ran by local butchers and bakers
 
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