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Discover Leisure Today


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This morning at 7. 30am Discover Leisure share trading has been suspended.

 

http://www. iii. co. uk. ..ISL. L%26it%3Dle

 

http://uk. finance. ya. ..1. html?x=0&.v=1

 

No surprise there - then ?

 

I seem to recall that the original management team were from the motor industry and they boasted of their intention of using their combined experiences of the motor trade to drag the caravan industry, kicking and screaming into their brave new world.

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If i remember right was nt there something about them in trouble a few months ago ?

 

 

 

 

Dave

 

They appear to have been in hock to their bankers from the outset and I seem to remember their most recent begging bowl trip was a further re-structuring of their loans.

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was only there the weekend, good job I was just being nosey & not looking at a deal or my deposit may have gone walkies

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Look out for some cheap caravans then!

 

As usual it's the staff that suffer

 

and the creditors can whistle for their money

 

Has anyone ever known of a CVA that actually works?

 

Dare bet the directors pulled out some hefty dividends and made some

big Pension contributions not long ago

 

Cynical!..... me?

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Never a good thing for caravaning or the economy generally when businesses are in trouble like this, I feel sorry for the staff and for customers who may have bought a caravan in the last few days. ...will they get it, will they lose their deposit etc?

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Never a good thing for caravaning or the economy generally when businesses are in trouble like this, I feel sorry for the staff and for customers who may have bought a caravan in the last few days. ...will they get it, will they lose their deposit etc?

 

 

Unfortunately they will be in a very long list of unsecured creditors, which probably means they'll

get nowt. ..Unless they paid the deposit by a credit or debit card.

 

They only winners will be the liquidators, whose astronomical bill will again somehow be about the

same as the money left after the secured creditors have been paid.

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I wonder how The Explorer Group will take this?. Discover Leisure have only just launched an Exclusive range based upon the Compass brand and calling them Vantage. The various models having their identities taken from known Explorer Group products and given an Advantage So&So name. One of which was/is Volante.

I wonder if the Explorer Group will take them on board and run it properly after a culling of sites & staff?.

Life in general can be a journey of chance with some winners and sadly some losers. Your outfit can never be left to chance. A short-while carrying out essential checks can ensure a long-time of happy & safe caravanning for all concerned.
Ignorance can often be bliss but is certainly not an excuse and when continually disregarded they can be totally disastrous for oneself and the innocent parties.

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So far the only thing which which appears to have happened is the suspension of trading in Discover Leisure shares. It may or may not lead to the company going into administration.

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So far the only thing which which appears to have happened is the suspension of trading in Discover Leisure shares. It may or may not lead to the company going into administration.

 

. ..yes, we may be jumping the gun slightly. ..let's hope so.

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We bought ours from there last month! cracking deal but wanted money paid a week before we got caravan. They never got it until day we picked it up and after we inspected it first lol.

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We've spoken to the NCC about this to get some advice for worried buyers.

They say to contact the company asap if you have recently put down a deposit.

 

Apparently the sales team at the show were told to stop selling and to leave their stand

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Apparently the sales team at the show were told to stop selling and to leave their stand

 

Oops.

 

That really is bad news, especially for people who may have ordered a caravan from them at the show and buyers who have them on order.

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I hope people have payed any deposits using credit card .

 

 

 

Dave

 

 

You're OK with most Debit cards as well

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They were a crash waiting to happen.

The senior management team that boasted so much about being motor trade professionals dragging the leisure industry into the real world had actually overseen the demise of the Dixon Motor Group which was the largest garage chain in the country at one time.

They paid way over the odds with borrowed money for the caravan/motorhome businesses they brought together under the Discover brand and when the economy dived had to renegotiate with their bankers and enter a CVA which meant a lot of suppliers losing money. Part of that deal meant the closure of a large proportion of those expensively purchased sites and the loss of a large number of jobs. It sounds like it's happening again and that even the CVA hasn't worked out.

I've got nothing to do on this hot afternoon

but to settle down and write you a line.

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We bought our 'van from them nearly three years ago. They made such a hash of the first service I never went back there.

I hope no one on here gets caught out over this business failure.

 

 

John.

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