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Not much cheer here in the Tankslapper household the week before Christmas, I'm afraid.
Without any warning or discussion the Welsh Assembly Government has ceased funding the project I run (announced on Wednesday but still nothing official). They want to 'discuss' a deal - and have accused the firm of having no senior trustees available this week(coming) for talks with the local council!
The project has been running without a hitch and is highly respected. The firm has an insolvency issue but is(was) trading out the position. Now these idiots have forced us into insolvency and are refusing to pay us for work done. We have all been on half-pay since June and doing extra work to resolve the situation now they've even refused to pay for the work we've done which means no pay for Christmas.
Not sure why I'm posting this except out of anger and frustration - and to say 'gee us a job'!
With few trustees around - it is Christmas - I intend to speak to those available and then go to the press about this tomorrow. I find the approach totally unfair, unreasonable and unacceptable.Really crap
😡
Bummer dude. Obviously don't know the ins and outs of it but hope the situation improves for you. Chin up and all that...
That's a serious bummer, right before chirstmas too.
What a shite.
That really sucks. Sorry to hear you've been put in such a position 🙁
Cheers deadly and all.
Looks like Mrs TS will have to return to work early from maternity leave if that's possible. In the mean time I'll have to do what I can. The firms in such a bad way that we can't afford legal representation and now they've removed our ability to work and pay off debts it looks like insolvency.
Personally I'll be glad when its all over - been under a lot of pressure for more than 18 months
cheers
Sadly this is just the start as govenment agencies start to cut back on non essential expenditure,and getting rid of new road building and contractors are the easiest bits to do away with.
Best of luck for the future, oh and any hint of what this project is.
Sorry to hear the shite news - escpecially before Xmas and without warning.
Dont want to make your day worse or have you take this the wrong way, but why was the Council funding a firm that was/is insolvent ? Is that a good way of spending taxpayers money. Think about it from all angles before involving the press.
Dont forget the council will be paying a press officer money to keep them out of bad press situations.
They will also be strapped for cash and will be looking to cut costs.
On a more positive note, can you start the project again, but on your own this time and run it more efficently. Thereby attracting council funding. They wont be spending taxpayers money on an insolvent business. You can offer to do it better with the same good skills etc etc. Also keeping people employed etc etc.
trimix
Thanks - it was the council who have placed us in this position. Due to the large sums of cash involved and the fact that we are funded 50% up front and 50% in arrears every month has forced us into an overdraft facility. This was done AFTER we had signed the contract. Under European rules bank charges are in-elligible expenditure so a double whammy. In the last 6 months they have asked us to ensure the firm does not benefit financially from this cash - so no placing in an account that acrues interest - in short set-up to fail.
As manager I have been negotiating for a low interest / interest free loan with a third party to smooth out the cashflow. We understood on Tuesday we would be given time to sort this out or strike a deal with the council to sort it out, but no, by weeks close (three days after the first letter/inkling) this has been discounted by these morons and the organisation forced into a liquidation position by the very people who forced insolvency on us.
This also impacts on the other organisations that are reliant on our grant aid and their employees - a disgraceful situation!
my department is going to India in the New Year. 31st of December is my last day 🙁
Thank fukk! Being made redundant has really motivated me. Some big decisions are now being made and I'm really looking forward to this new chapter in my life 🙂
plus, my Union is kicking ass and should, hopefully, get a nice redundancy packet.
Have they broken the terms of the contract ?
If your funded 50% up front Im am surprised the banks dont see that as a good bet and lend you the last 50% till you get paid. But I havent seen your balance sheet.
You could find some venture capitalists who would fund it, but that still depends on your profit margin and balance sheet. Oh, and the council being a good customer - which is sometimes questionable.
If they dont spend the money with you will it go to another firm ? If so you could approach them so they employ you to do the job - as your qualified / experienced in doing it.
Keep looking for solutions / opportunities rather than dwelling on the downside. Obvious I know, but you will be surprised how your attitude changes when your feeling low compared to feeling high.
Good luck.
If they are refusing to pay - can you not start bankruptcy proceedings against the council?
That sucks tankslapper, sorry to hear it.
Nothing else to add except my sympathies. Hope something works out soon
that is shit mate, all the best to you and yer family, hope you can get it soted, kinda makes you wonder wot the **** they were thinking about when they make these decions.
That not only sucks but blows...........hope 2010 brings a wind of change for you, that stinks for others (if you know what I mean!)
Sorry to hear that. Before you talk to the press or take action, try to let go of your resentment and think through a strategy most likely to get the money they owe you. Publically slagging them might not be that effective.
Best of luck, and don't worry something will come up!
Cheers Buzz
Very angry obviously about the situation, we've all been on little more than half-pay for six months and now this! Of course I'm looking elsewhere but its no longer as straight forward as it once was. I can not and have never taken unilateral decisions and leave that to our board of trustees. I will do what I can tomorrow and allow myself to be guided by our treasurer if he's still 'in country'. Will probably have to speak to our accountants, but this now feels like a house-of-cards and they will probably say liquidate. Feel as if my hands are completely tied - will try a source of legal aid for charities tomorrow to see if we can get any help but not sure if this is/will be any use.
Need to get my head a long way from this and into a much better place. For everyone's sake.
It'll pass - I have enormous faith in winning the National Lottery! 😆