Mongoose Cricket possibly in trouble?
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tim2000s

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Re: Mongoose Cricket possibly in trouble?
« Reply #60 on: June 14, 2011, 10:07:10 AM »
Quote from: procricket on June 14, 2011, 10:01:28 AM
I think as a clever sod i sure i told you all this about 10 months ago

I sure evenb people betted money with me about it as well and called my stupid..

infact where is the thread i need to see if anybody did bet with me

Been waiting for you to come back and say that Dave. I remember you mentioning it...
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tim2000s

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Re: Mongoose Cricket possibly in trouble?
« Reply #61 on: June 14, 2011, 10:32:16 AM »
One wonders whether the decision to move production away from Hunts County to "cheaper production" towards the end of last year has any relevance to the business' state and these rumours.
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Ciaran

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Re: Mongoose Cricket possibly in trouble?
« Reply #62 on: June 14, 2011, 10:35:12 AM »
I would say the oppposite. You would probably bet that they moved from Hunts to cheaper as they needed the cheaper production.

Still i wouldnt bet this will be the end of Mongoose, more a change of ownership. It certainly wont be the end of the technology and designs.
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tim2000s

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Re: Mongoose Cricket possibly in trouble?
« Reply #63 on: June 14, 2011, 10:37:18 AM »
I also wonder what the value of the IP is in a fire sale.
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iand123

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Re: Mongoose Cricket possibly in trouble?
« Reply #64 on: June 14, 2011, 10:41:45 AM »
Quote from: tim2000s on June 14, 2011, 10:37:18 AM
I also wonder what the value of the IP is in a fire sale.
Is the IP really that valueable? Probably been discussed before but what is there to stop someone making similar bats?
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tim2000s

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Re: Mongoose Cricket possibly in trouble?
« Reply #65 on: June 14, 2011, 10:44:59 AM »
Quote from: iand123 on June 14, 2011, 10:41:45 AM
Is the IP really that valueable? Probably been discussed before but what is there to stop someone making similar bats?

Like this? http://www.24retail.co.uk/index.php?main_page=product_info&products_id=1086712

I suppose the key difference is how the handle is attached to the blade, so the "spliceless" nature of it, and the "ears".
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King pair

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Re: Mongoose Cricket possibly in trouble?
« Reply #66 on: June 14, 2011, 11:04:10 AM »
Quote from: tim2000s on June 14, 2011, 10:37:18 AM
I also wonder what the value of the IP is in a fire sale.

This really will be interesting as in 5 years of working in insolvency I have never seen IP valued at anything but £1. It will largely depend on whether the valuing agent has any knowledge of the industry and what involvement the directors have in any resale.

I have no evidence what so ever for this and am purely speculating but I just have a sneaking suspicion there may be the chance of a pre-pack administration here.
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iand123

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Re: Mongoose Cricket possibly in trouble?
« Reply #67 on: June 14, 2011, 12:08:29 PM »
Quote from: king pair on June 14, 2011, 11:04:10 AM
This really will be interesting as in 5 years of working in insolvency I have never seen IP valued at anything but £1. It will largely depend on whether the valuing agent has any knowledge of the industry and what involvement the directors have in any resale.

I have no evidence what so ever for this and am purely speculating but I just have a sneaking suspicion there may be the chance of a pre-pack administration here.

What is a "pre-pack administration"?
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Buzz

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Re: Mongoose Cricket possibly in trouble?
« Reply #68 on: June 14, 2011, 12:13:58 PM »
Ian - read http://www.kermanco.com/site/library/resources/pre_packs_a_lesser_evil.html

i would guess that a pre-pack would be sensible in this case.
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King pair

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Re: Mongoose Cricket possibly in trouble?
« Reply #69 on: June 14, 2011, 12:17:56 PM »
It is essentially where a company going into administration is sold immediately upon appointment to an interrested party (commonly the previous directors acting on behalf of a "new" company).

The administrators would first have to go through a marketing process but sometimes this can be limited to a few parties. The company looses its creditors, buys the assets back at a low price and continues to trade under a different name.

Like I say, no evidence, just a possibility.
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Lekka Global Alliance

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Re: Mongoose Cricket possibly in trouble?
« Reply #70 on: June 14, 2011, 12:28:09 PM »
Check out pinksheets dot com , the same system has been going on for decades over the water.
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Watsontotty

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Re: Mongoose Cricket possibly in trouble?
« Reply #71 on: June 14, 2011, 12:30:03 PM »
possibly more than a possibility
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iand123

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Re: Mongoose Cricket possibly in trouble?
« Reply #72 on: June 14, 2011, 12:32:02 PM »
Quote from: Buzz on June 14, 2011, 12:13:58 PM
Ian - read http://www.kermanco.com/site/library/resources/pre_packs_a_lesser_evil.html

i would guess that a pre-pack would be sensible in this case.


Thanks for the info Buzz, makes much more sense now
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King pair

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Re: Mongoose Cricket possibly in trouble?
« Reply #73 on: June 14, 2011, 12:35:28 PM »
If this was happening the marketing takes place pre-administration so I would imagine some of our forum sponsors would have benn offered the opportunity to purchase all or part of the company. If it was one of my cases that is where I would be pitching it anyway.

If done correctly, this would be the correct option to take for such a company (in my humble opinion)

Sure all will soon become clear.
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uknsaunders

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Re: Mongoose Cricket possibly in trouble?
« Reply #74 on: June 14, 2011, 12:41:35 PM »
I use to work with printers and alot of them would go into administration, be declared bankrupt. The following day, a new company would then buy the assets and with a subtle name change continue trading as pretty much the same company. The main benefit was to offload debts and rebuy the assets at a knock down price.

Not saying this happens in cricket but could it happen to rid mongoose of sponsorships and overheads dragging the business down?
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