Petroplus bad news

Another company that i've heard is hanging on by the skin of their teeth is "Premierfoods". when times were good they bought out the likes of Mr Kippling then mortgaged that to buy Bransons and so on and so on, the good times have gone!! premierfoods are feeling the pinch, try googling the company and see how many brand names they own, apparently all mortgaged to the hilt, products that most of us buy and eat every day.
 
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Stivino said:
That's something like my local council. If you're late or miss a council tax payment, you then have to pay the rest of the year's payments in one.
They don't seem to understand that it I don't have the money for the May/June/whatever month, how is one supposed to get enough to pay six months :?: DOH!
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I sympathise, even empathise with your sentiments.
The payment of council tax by monthly installments is a privelege. The alternative is pay the whole amount upfront.

Don't have a go at me, I didn't invent or apply the tax or the system.
I'm just the messenger.
 
pred said:
Another company that i've heard is hanging on by the skin of their teeth is "Premierfoods". when times were good they bought out the likes of Mr Kipling then mortgaged that to buy Bransons .
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They were a very good firm but got themselves in a pickle :rolleyes:
 
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pred said:
Another company that i've heard is hanging on by the skin of their teeth is "Premierfoods". when times were good they bought out the likes of Mr Kippling then mortgaged that to buy Bransons and so on and so on, the good times have gone!! premierfoods are feeling the pinch, try googling the company and see how many brand names they own, apparently all mortgaged to the hilt, products that most of us buy and eat every day.
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One of their shopfloor workers won the euro lottery jackpot earlier this year.
Overnight he was worth more than the whole company.
 
There was a program on a few weeks ago talking about salaries of various company directors, of which in Ireland for premierfoods £8m i think that was not his pay but bonuses. :evil:
 
Just heard more bad news,

I have many friends including drivers at Coryton refinery and they were told that trading in shares on the Swiss exchange has been stopped by the companies request. Swiss owner admitted it was on the brink of collapse.

Petroplus have now suspended their shares. Coryton is the biggest refinery in the UK supplies of petrol/diesel/oil to forecourts to south of England leading to fears fuels supplies could dry up. It's now make or break because Coryton unable to let delivery lorries leave it premises :cry:

Even BP providing support to Petroplus to enable it continue operating at the moment

This will also impact everything including the Olympics this year, I'm wondering if our Government can help secure the business?
 
They are a Europe wide company - they are protecting the French arm by closing the UK arm. What a surprise that is. :rolleyes:
 
joe-90 said:
They are a Europe wide company - they are protecting the French arm by closing the UK arm. What a surprise that is. :rolleyes:
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it pains me,but you were right. ;)

i think its going to get a lot worse very quickly.
 
Yikes.

Being slightly selfish but having another 500 plus skilled workers dropped into the local job market is not good for me when I'm on the verge of redundancy myself :(

Maybe BP will by it back at a knockdown price?
 
Ricardus said:
Maybe BP will by it back at a knockdown price?
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Sadly they won't because in reality, high oil prices impact the refineries, profit margins always been slim to almost nothing although many people don't believe this :!: The demand for petrol is in decline and the recession with a knock on effect and the health & safely requirements also driven up the costs which is why buyers are hard to find.

BP saw it coming early and got out when they could no longer complete with the modern sites from Middle East with cheaper labour. BP will only buy it back only by scrapping the refinery and turning it into the oil storage terminal .

The price of petrol will have to go up because of Coryton closing
 
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