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Inner West Crew Whoretown (toowong/st Lucia/kenmore/indooroopilly And Sometimes Sunnybank?)

funkymonkey

By funkymonkey,
in Queensland

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FineLine
FineLine

Are you allowed to drive a turb on p plates. ?

FineLine
FineLine

They do indeed mate. doesnt matter where you live these days, if its a line its a target. Mine are kept under lock and key.

FineLine
FineLine

Yes Yes! It truly is....If you like long delays and the worst farken traffic in the state.

Posted Images

-Boz- Veteran

-Boz-

Posted
Posted

I wouldn't have called Wow a blue chip company, not like they are even close to a similar level as Telstra, BHP or the banks...

But most sucky for you mate. Any chance of a partial recovery at least? I know most times a company goes into receivership creditors get screwed to the wall but they get something back at least, even if it's only 10c in the $.

Chris Rogers Grand Master

Chris Rogers

Posted
Posted

they 'were' on the ASX. yes it sucks. I am trying to work an angle with the admins - not succeeding..

- enough from me for the day - going to GT auto to strip down ruzic's car and finish that off.

-Boz- Veteran

-Boz-

Posted
Posted

Also, I'd be curious to look at the whole financial situation for Wow to see what caused the collapse. I remember when ADR (parent company of Crazy Clark's) went into receivership they had just posted quarterly profits above expectations and showing year on year growth. They were a thriving, profitable business. However one of their lenders got spooked by the situation in America and called a loan for several millions of dollars which ADR were unable to meet on such short notice which caused the company to fold.

I know Wow had aprox $50 million in debt split between one of the big four (thinking NAB) and creditors but unsure past that. Can anyone enlighten me as to what caused the collapse?

Smity42 Grand Master

Smity42

Posted
Posted

My understanding is they weren't making money, they went into voluntary administration a while ago.

They owed 25 mil to one of the big 4 (ANZ? NAB?), and when they couldnt make payments they forced them into receivership on tuesday

Chris Rogers Grand Master

Chris Rogers

Posted
Posted

bank was NAB. they fell over once already and got a bailout. 2nd time though NAB cried enough.

kinda what you get with 5% margins..

FineLine Grand Master

FineLine

Posted
Posted

they 'were' on the ASX. yes it sucks. I am trying to work an angle with the admins - not succeeding..

- enough from me for the day - going to GT auto to strip down ruzic's car and finish that off.

How much shit have you pulled out from under his dash, Habib feels like he's been to Jenny craig since you did the number on all the junk wiring under there.

ARE31 Proficient

ARE31

Posted
Posted

Bloke is coming to look at my XF this arvo :)

If that goes, it there would be a convenient spot in the yard to park a leopard...

I'm liking the sound of that :)

ARE31 Proficient

ARE31

Posted
Posted (edited)

Sorry mate I don't have Dazz's number anymore. Plus I think his guy is pretty strict. Just having a chat with a mate trying to sort something out for you though.

Edited by ARE31
Chris Rogers Grand Master

Chris Rogers

Posted
Posted

How much shit have you pulled out from under his dash, Habib feels like he's been to Jenny craig since you did the number on all the junk wiring under there.

more than habib, put it this way all of his stuff is gone . he can put it back there. GT did the engine bay - I did the inside.

put it this way if someone so much as sneezes on that car he (and I) will know about it and both of us have the ability to do something about it as well.

still have to finish it off. can't seem to stay on it any more than 4 hours at a time.

boiracer Grand Master

boiracer

Posted
Posted

wrangling PKF for money (wow audiovisual admins) seems to be pointless.. its amazing how bluechip companies can f**k up and majorly screw over everyone else in the process.. lesson learned - stick with small business.

(been a horrible two weeks and I'm slightly pissed off after losing $2500 to these fk'wits.)

i know the feeling, this is why we dont build pools for builders anymore....its amazing how many companies disappear every year.

one thing i have learnt thru all this.....shiney cars and the illusion of money in a company REALLY doesnt mean success.

Chris Rogers Grand Master

Chris Rogers

Posted
Posted

yep!

learned that with SCR years ago. all of those guys were putting around in MBs and we all see where that went..

when they offered shares I passed on the idea. lots of people lost money there. same as all of those that are left holding gift vouchers for wow av.

not a happy camper.

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