apparently its the banks fault

[buctootim]

You'd feel a little hard done by if your house was repossessed because you went a quarter of a percent over your overdraft though.

 

You would, but if you knew the mortgage company were in a very unsympathetic mood, you'd put the payment on your credit card instead, or defer payment of the electricity bill rather than risk repossession.

[Clapham Saint]

Are we in Administration now then? The Echo says we are so I guess we must be. As for Wilde, try to show some sense of contrition, you are the main reason why we are in the **** now, not just for what you did after Lowe lead us to relegation but by compunding the error by letting Lowe back in. You are a bigger problem in my view than even Lowe.

 

+1!

[70's Mike]

You would, but if you knew the mortgage company were in a very unsympathetic mood, you'd put the payment on your credit card instead, or defer payment of the electricity bill rather than risk repossession.

 

Exactly my point , why not hold the payment until the takings from Saturday had been banked.

Basically it would appear the £110k is a red herring thrown by Wilde to deflect blame to the bank

[saintjay77]

Exactly my point , why not hold the payment until the takings from Saturday had been banked.

Basically it would appear the £110k is a red herring thrown by Wilde to deflect blame to the bank

 

Your basing this on the idea that we actually got below the 4 Mil overdraft limit.

 

What if the agrement was to get the OD below 4 Mill by the end of March and we were 110K short of doing so. It might have bugger all to do with payments going out taking us over the limit.

 

Yet with rubbish attendances, Rubbish performances, Lack of decent players and the most hated man ever to grace the steps of SFC we still managed to reduce the OD by 2.4 Mil and still get the plug pulled over 110K.

 

Finger point as much as we like, it still seems a tad harsh when looking at just the info we have got.

 

Reading the Interviews and reports I cant help get more worried now as there seems to be a continued highlight on the fact that come the end of the season we really could cease to exsits! Can anyone else imagine pompy being the only main club in our area ?

[Rod Le Shearer]

I don't understand Barclays' logic on this, to be honest. They seem to be cutting their nose off to spite their face.

 

The overdraft has been reduced by £2m+ in the last 12-18 months, so it's moving in the right direction, and yet they've decided to pull the plug for the sake of what is a relatively small amount of money.

 

 

maybe the essence here is the "moving in the right direction"-part..?

 

one possible scenario is that Saints initially (under Wilde & Lowe) reduced the overdraft to,lets say 3 Million. where it remained stable for a certain period of time.

then,later on (as in the past few weeks) the overdraft have suddenly been rising dramatically,up to beyond the limit- and this sudden explosive rise caused the Bank to panic-even though the overdraft in itself wasnt sky-high...and thus they pulled the plug to prevent further loss.

judging that the club was no longer going in the right direction.

 

or is this impossible/improbable ?

[lumpofshipperley]

Sign of the times.

 

Banks are pulling overdrafts on loads of companies - many with good profits and prospects, but banks see cash as king at the moment. They're in no risk mode.

 

I expect a lot more to be wound up, before the year is out. There's absolutely no money in football outside of the top flight. Mugs game.