***BREAKING NEWS*** Mongoose Cricket up for Sale
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thegowerwaft

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #60 on: September 16, 2014, 09:45:04 PM »
If you purchased Mongoose; who would look to have a net with Trescothick, just for the experience, and then sack Dernbach to double the company's Net Worth?  ;)
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tim2000s

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #61 on: September 16, 2014, 09:45:33 PM »
Quote from: Stuey on September 16, 2014, 09:29:28 PM
Any idea how much debt they are carrying, assuming they are leveraged to some extent and don't own any premises.
You'd only find that out if you submitted an LOI and entered into due diligence, although the company accounts should allow you to work it out...
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Cowcorner

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #62 on: September 16, 2014, 09:46:14 PM »
It still doesn't bode well that this has happened so close to the trade show when all the new ranges are launched. Could this be the end for Mongoose? Will we see Marcus Trescothick with his own M&H MT44 range?...Who knows...
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wasimrehman

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #63 on: September 18, 2014, 07:54:31 AM »
Hi,

I am a director of Cricket Bat Acquisition Company Ltd which owns the Mongoose Brand and I will be managing the sales process. I am also a shareholder.

Thank you all for your kind comments and interest. If you have any questions or interest please feel free to contact me directly by email. At this stage I can confirm that the debt at the company is not substantial nor the reason for the sale.

Regards,

Wasim Rehman
wasim@fwegroup.com
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TangoWhiskey

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #64 on: September 18, 2014, 08:07:29 AM »
Quote from: ItsJustCricket on September 18, 2014, 07:59:59 AM
So, this is the 2nd time this has happened in the last 5 years, and as far as I'm aware, their bat sales have declined massively too.  Not too sure why everyone is so excited about the opportunity!

There is potential there. Sales might have declined and the company might be struggling, but the brand is out there already and would be much easier for someone with the right mindset who wanted to get into the cricket industry than attempting to start their own company from scratch.

If I won the lotto I'd be seriously considering it. 
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tim2000s

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #65 on: September 18, 2014, 08:08:52 AM »
Somebody made an estimate earlier that it would cost 500k to buy. Using that, it's 500 people with a grand, or 1,000 with 500 quid. Do we think we could find them? Could we crowdsource properly?
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TangoWhiskey

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #66 on: September 18, 2014, 08:13:07 AM »
Quote from: tim2000s on September 18, 2014, 08:08:52 AM
Somebody made an estimate earlier that it would cost 500k to buy. Using that, it's 500 people with a grand, or 1,000 with 500 quid. Do we think we could find them? Could we crowdsource properly?

I would doubt it to be honest.
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The Palmist

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #67 on: September 18, 2014, 08:16:28 AM »
Quote from: tim2000s on September 18, 2014, 08:08:52 AM
Somebody made an estimate earlier that it would cost 500k to buy. Using that, it's 500 people with a grand, or 1,000 with 500 quid. Do we think we could find them? Could we crowdsource properly?

I can find the money to buy it, it is the running costs which scares me. Any estimates on how much it may cost to keep it afloat and for how long before we see any real return?

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tim2000s

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #68 on: September 18, 2014, 08:18:19 AM »
Quote from: The Palmist on September 18, 2014, 08:16:28 AM
I can find the money to buy it, it is the running costs which scares me. Any estimates on how much it may cost to keep it afloat and for how long before we see any real return?
I would suggest you contact Wasim directly. He would be able to give an indication.
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The Palmist

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #69 on: September 18, 2014, 08:18:26 AM »
Quote from: ItsJustCricket on September 18, 2014, 07:59:59 AM
So, this is the 2nd time this has happened in the last 5 years, and as far as I'm aware, their bat sales have declined massively too.  Not too sure why everyone is so excited about the opportunity!

couldn't agree more!
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Tom

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***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #70 on: September 18, 2014, 09:04:47 AM »
I had a chat to a few people yesterday and it seems I jumped the gun with my assumption of them struggling.

And now I have a greater understanding of the reasons for sale I'll throw in £1000 if 499 others want to join?

Someone get it listed on crowdcube.com
« Last Edit: September 18, 2014, 09:06:19 AM by Tom »
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Number4

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #71 on: September 18, 2014, 09:19:27 AM »
Anything you can share Tom?
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tim2000s

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #72 on: September 18, 2014, 09:30:16 AM »
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GarrettJ

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #73 on: September 18, 2014, 09:34:24 AM »
Quote from: The Palmist on September 18, 2014, 08:16:28 AM
I can find the money to buy it, it is the running costs which scares me. Any estimates on how much it may cost to keep it afloat and for how long before we see any real return?

Surely you would be a director, take your salary and if it goes bust there is no comeback to you.
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Number4

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Re: ***BREAKING NEWS*** Mongoose Cricket up for Sale
« Reply #74 on: September 18, 2014, 09:50:09 AM »
Quote from: tim2000s on September 18, 2014, 09:30:16 AM
You should probably look at the interview that was recently done...

http://custombats.co.uk/cbforum/index.php?topic=31884.0

http://custombats.co.uk/cbforum/index.php?topic=31853.0


The reasons for selling are in these interviews?
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