Jamie Oliver

No different from the tossers who took millions out of Thomas Cook!

Oliver took 5.2 million out of the company before it crashed with 83 million worth of debts and 1000 people losing jobs.

One rule for some and another rule for others. Had this been a tradesman/small business owner who had worked his balls off then HMRC and an Insolvency Practitioner would be looking to take their house and make them bankrupt

Makes me sick to the teeth!

Oliver should pay every penny back! At least Peace was very astute in robbing the club blind!!!

I agree Al.

We’ve had a tougher year at work and at present I’m looking down the route of selling my business to my daughter and son in law.

Because they can’t come up with any stake money up front it’s making the process difficult and maybe impossible.

If I work under the same rules as Jamie Oliver my best bet is to.......

1/ Leverage my business to the maximum by,

A/ Remortgaging to the hilt.

B/ Buy up to my absolute credit limit with all my suppliers.

2/ In the period of time before creditors start screaming for money I hold a massive fire sale undercutting all my competition and build a very large cash pile very quickly.

3/ I then cut right back on staff and save myself an extra £6000 a month for six months.

4/ During this six months I start defaulting on my mortgage and council tax.

5/ I use this period to strip all the cash mountain out of the business in bonus payments to myself.

Seven months down the line I have all the cash and I also squirrel away as much unsold stock as I can in a secret warehouse.

I then go t I t s up.

Absolutely stinks doesn’t it!?

Quote:

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Originally Posted by mickd1961

I agree Al.

We’ve had a tougher year at work and at present I’m looking down the route of selling my business to my daughter and son in law.

Because they can’t come up with any stake money up front it’s making the process difficult and maybe impossible.

If I work under the same rules as Jamie Oliver my best bet is to.......

1/ Leverage my business to the maximum by,

A/ Remortgaging to the hilt.

B/ Buy up to my absolute credit limit with all my suppliers.

2/ In the period of time before creditors start screaming for money I hold a massive fire sale undercutting all my competition and build a very large cash pile very quickly.

3/ I then cut right back on staff and save myself an extra £6000 a month for six months.

4/ During this six months I start defaulting on my mortgage and council tax.

5/ I use this period to strip all the cash mountain out of the business in bonus payments to myself.

Seven months down the line I have all the cash and I also squirrel away as much unsold stock as I can in a secret warehouse.

I then go t I t s up.

Absolutely stinks doesn’t it!?

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Totally agree Mick! If times get hard - if you can’t beat them then join them but make it worth while if it goes bang. I know a good IP and a West Brom fan too 😭😭

Quote:

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Originally Posted by mickd1961

I agree Al.

We’ve had a tougher year at work and at present I’m looking down the route of selling my business to my daughter and son in law.

Because they can’t come up with any stake money up front it’s making the process difficult and maybe impossible.

If I work under the same rules as Jamie Oliver my best bet is to.......

1/ Leverage my business to the maximum by,

A/ Remortgaging to the hilt.

B/ Buy up to my absolute credit limit with all my suppliers.

2/ In the period of time before creditors start screaming for money I hold a massive fire sale undercutting all my competition and build a very large cash pile very quickly.

3/ I then cut right back on staff and save myself an extra £6000 a month for six months.

4/ During this six months I start defaulting on my mortgage and council tax.

5/ I use this period to strip all the cash mountain out of the business in bonus payments to myself.

Seven months down the line I have all the cash and I also squirrel away as much unsold stock as I can in a secret warehouse.

I then go t I t s up.

Absolutely stinks doesn’t it!?

---

Hey Mick. Don’t you sell on the Amazon platform in the US and Europe? I’m currently setting up quite a specialised business to source and sell via Amazon in the US. Having spent 2 or 3 years with some big Amazon sellers, I know there are people out there who actively broker deals for those looking to sell businesses of this type. There’s some eye watering deals that have been done as there’s a real market for ready made businesses of this type. I’m guessing I’m telling you what you already know but thought it worth a mention