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Thread: MAG - bit of a surprise

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  1. MAG - bit of a surprise 
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    BB
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    Default 16-07-14, 08:39 PM
    Just had a letter today to say that MAG is convening an Extraordinary General Meeting with a view to placing the company into Creditors Voluntary Liquidation!

    They are citing they are 'no longer viable owing to it's inability to attract the necessary donations as a direct result of the Employment Tribunal proceedings brought by a number of ex employees'

    Sure didn't see that coming.
    We could learn a lot from crayons; some are sharp, some are pretty, some are dull, while others bright, some have weird names, but they all have learned to live together in the same box.”
     
     
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    WR6133
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    16-07-14, 08:46 PM
    Move assets, fold and reappear with new director maybe
     
     
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    Dabz
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    16-07-14, 09:32 PM
    A real shame that ex employees may be the downfall, but by this stage surely there would have been an option to settle and protect the organisation.
    http://twitter.com/WiltshireBikers
    http://www.facebook.com/WiltshireBikers
     
     
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    16-07-14, 09:35 PM
    They have already set up another MAG organisation ready to roll following the EGM
     
     
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    QB1
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    17-07-14, 09:41 AM
    Quote Originally Posted by BB View Post
    Just had a letter today to say that MAG is convening an Extraordinary General Meeting with a view to placing the company into Creditors Voluntary Liquidation!

    They are citing they are 'no longer viable owing to it's inability to attract the necessary donations as a direct result of the Employment Tribunal proceedings brought by a number of ex employees'

    Sure didn't see that coming.
    Is that the old or new company?

    http://www.visordown.com/motorcycle-...nal/24651.html
     
     
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    17-07-14, 01:38 PM
    I haven't got the letter with me so can't say which for now. Just feel it's very sad it has come to this
    We could learn a lot from crayons; some are sharp, some are pretty, some are dull, while others bright, some have weird names, but they all have learned to live together in the same box.”
     
     
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    #7
    SupeRDel
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    17-07-14, 04:45 PM
    Got the same letter, as an committee member of the Aircooled RD club we are affiliated to them so I get their magazine.

    We are affiliated to the BMF who seem a better crowd. One advantage is the free public liability insurance we get when we club stands at shows.
     
     
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