Cunningham Marine Centre

[regulated]

OK don't know if anyone else left from scarby on the weekend but I had a leaflet on the car when I got back. A new Cunninghams is open, dealer is Ian Cunningham. Good news for Mercury owners having a dealer on the northside again.

www.cunninghammarinecentre.com.au

Cheers

BJ

[straddiebrad]

have they anything to do with the other one that went bust.

[crazywalrus]

OK don't know if anyone else left from scarby on the weekend but I had a leaflet on the car when I got back. A new Cunninghams is open, dealer is Ian Cunningham. Good news for Mercury owners having a dealer on the northside again.

www.cunninghammarinecentre.com.au

Cheers

BJ

Hmmm a Cunningham. May be good news for the Mercury owner but poor news for creditors of the old Cunningham ownership. It annoys me when a company folds leaving debt and the same people setup the same business debt free. Poor form

[JarrydA]

Happens far too much in this country, something needs to be done about how easy it is. These companies are run under trusts and in the end nobody is accountable.

[shortie]

I think you guys are being a bit harse without knowing all the facts.

What were the circumstances behind the original recievership?

Were arrangements made to pay out debts that you dont know about?

to many variables to comment subjectively

[straddiebrad]

OK don't know if anyone else left from scarby on the weekend but I had a leaflet on the car when I got back. A new Cunninghams is open, dealer is Ian Cunningham. Good news for Mercury owners having a dealer on the northside again.

www.cunninghammarinecentre.com.au

Cheers

BJ

Hmmm a Cunningham. May be good news for the Mercury owner but poor news for creditors of the old Cunningham ownership. It annoys me when a company folds leaving debt and the same people setup the same business debt free. Poor form

my thoughts too.brad

[wallyfly]

After all the HooHah, the new business is a hundred metres or so from the old site in Snook St Clontarf so Merc service is there if it's needed. Good luck to the new proprietors, so give them a fair go. :cheer:

[crazywalrus]

I think you guys are being a bit harse without knowing all the facts.

What were the circumstances behind the original recievership?

Were arrangements made to pay out debts that you dont know about?

to many variables to comment subjectively

all I know is that all the boats where bought at auction by the new Cunningham probably at a smaller price than what was owed. I find it a massive leap to think that this Cunningham was not involved.

[ellicat]

It's like the Adams Custom Boat thread where all opinions are based on imagination and little substantiated fact.

Personally don't like threads where a business has failed and a lot of uninformed people make disparaging remarks without a firm knowledge of the whole saga behind the business collapse, let alone the new venture.

Good luck to anyone starting or resurrecting a business. They give and take a lot of risks, unlike the paycheck collectors, a deserve to be able to use what little protections are provided them.

Unsecured creditors choose to deal with them to profit. When it comes unstuck - that's business. There are ways to manage the risk but it will always be a risk.

[crazywalrus]

Unsecured creditors choose to deal with them to profit. When it comes unstuck - that's business. There are ways to manage the risk but it will always be a risk.

Still does not make it right especially when the business starts up again without the debtors

[ellicat]

So do you think once someone has had a business fail for unknown reasons that they should be sent to the naughty room and be banned from earning a living in the industry they know forever or a month or a year ? My answer is yes they should, unless their business failed against their intentions.

A lot of business failure is a chain of events or a chain of exposed unsecured creditors lucking out. You know - A can't pay B who then can't pay C who then can't pay D....blah blah blah

[crazywalrus]

So do you think once someone has had a business fail for unknown reasons that they should be sent to the naughty room and be banned from earning a living in the industry they know forever or a month or a year ? My answer is yes they should, unless their business failed against their intentions.

Yes they should be banned - I can not remember the time it takes for a Bankrupt to be able to own a business again but it seemed fair. Starting up again and trading on the good will of the Cunningham Name is poor form in my eyes. To many businesses/owners do not honor their debts. They trade well and truly after they can service their debts. (not saying this was the case here) The right thing to do would be to take over the business and pay the debts. But this is never done. Why would you? if the parties are not related than I understand but in this case they are so I personally feel there is a greater responsibility.

I feel strongly about this and this is the very reason I do not carry accounts at my suppliers. Cash only. Not the easiest way to run a business but at least I know I am not going to leave bad debts behind.

I do not think it is ever the intent of a person to go broke.

[pancakes_and_haggis]

Wow debates all over the forum.

On that note I can't afford to drive your esky back to the north side. May I have an extension to my loan or will I need to declare myself bankrupt ? :evil: