[pollokfan1987]

Partick Thistle: Shirt sponsors have
gone into administration.

The Aberdeenshire company which
makes the Macb flavoured water
brand has gone into
administration.

Sangs, which is based in Banff and
has a distribution centre in South
Lanarkshire, makes fizzy drinks, juices
and water and employs about 60
people.

The Macb brand has also been the
shirt sponsors of First Division football
club Partick Thistle since the start of
the current season.

The administrators, Zolfo Cooper, said
the business had been "experiencing
cash flow problems due to today's
extremely challenging trading
environment."

Zolfo Cooper said the company would
continue to trade and they would
explore all possible options, including
selling the business as a going
concern.

Partner Elizabeth Mackay said: "Sangs
has established a significant presence
across Scotland and with its rich
history, strong underlying core
business and the growing Macb
brand, we believe it is an attractive
proposition for a range of potential
buyers.

"We will continue to trade the
business and welcome expressions of
interest from third parties."
In June, Partick Thistle announced a
three-year sponsorship deal with
Macb, which was reported on the
club’s website to be worth a six-figure
sum.

At the time, Kenny Webster, CEO of
Sangs, told the club’s official website:
"Football often gets a bad rap but
Partick Thistle shows the sport at its
best.

"The club’s a great fit with what we
believe in at Macb - brilliant value,
family-focused and good fun too.
We’re proud to become part of the
team and we’re looking forward to a
great season ahead."

On Monday, Eilish McColgan - the
daughter of Liz and one of the rising
stars of Scottish athletics - was
expected to announce a sponsorship
deal with the company.

However the
event, due to take place at Scotstoun
Stadium in Glasgow, was cancelled.
Tuesday January 17
Partick Thistle sponsor
goes into administration

By Gordon Darroch
16 January 2012 21:53 GMT

From stv news

[bunglebonce]

Top tip: at the top left of the reply box is a wee box to undo formatting.

Attached File(s)

•  Capture.JPG (8.12K)
  Number of downloads: 13

[Kitty_Boy]

Bad news for Sangs' 60 employees.

[ForzaDundee]

MacB flavoured water is good. I'll buy some today.

[Nizzy]

Kitty_Boy, on 17 January 2012 - 09:23, said:

Bad news for Sangs' 60 employees.

It certainly is, but it compounds the club's misery in a season where it's already been confirmed we're losing the Warriors cash come May.

[Cowden til i die]

Nizzy, on 17 January 2012 - 11:00, said:

It certainly is, but it compounds the club's misery in a season where it's already been confirmed we're losing the Warriors cash come May.

Where are they going?

[H Wragg]

Cowden til i die, on 17 January 2012 - 11:17, said:

Where are they going?

Scotstoun Stadium.

[Nizzy]

Lose tenants, potentially lose sponsors, papped out of all cup competitions by mid-January, lose to Berwick Rangers, draw with Culter...

Season horribilis.

[GreenockRover]

Not good Nizzy - and there will be other teams looking warily at their sponsors' financial health as the season draws to a close. Replacing shirt sponsors isn't too difficult..... it's getting a decent amount of money for it that's difficult.

Hope Partick can get this one sorted and - hopefully - any buyer will honour the agreement that's in place.

Bad times...

[ubertube]

Patrick Thistle?


This bit doesn't bode well if the administrator manages to sell the business. Any new owner of a failed business that was experiencing cash flow problems ain't going to splash the cash

Quote

the business had been "experiencing cash flow problems due to today's extremely challenging trading environment."

[Nizzy]

ubertube, on 17 January 2012 - 13:23, said:

Any new owner of a failed business that was experiencing cash flow problems ain't going to splash the cash

Correct. The chances of any new owner picking up the arrangement are remote. I'd hope Ian Maxwell and the board have begun the search for a new sponsor.

[Pie Of The Month]

http://thedrum.co.uk...d=4eb95cc8ac1fc

Quote

The director of water brand MacB’s parent company Sangs and petrol chain Calanike, Kenny Webster, has spoken out against the actions of the company’s bank Allied Irish, which yesterday, without warning, called in the company’s debts.

“To say that this has come as a shock is more than an understatement,” said Webster. “Allied Irish decided to put Sangs into administration with almost immediate effect, giving us absolutely no opportunity to discuss it with them, or find an alternative solution, despite our pleas. That would be shocking enough but given that Sangs is a company in profit, in growth, with (despite information to the contrary) no cashflow issue and has never defaulted on a loan interest or supplier payment, I am completely at a loss to understand why they’ve done this.

“AIB also used a cross-guarantee to put Calanike in receivership. Previous to this, they had never once discussed the health of the company with us – this is a company that has net assets valued at almost £5 million, an excellent credit rating and, in our last financial year, profit before tax of £192,000.

“Together with my team, I’ve poured my heart and soul into these businesses and to have them ripped away like this without warning is beyond heart-breaking. But more than that, I cannot see how AIB can possibly defend their actions. They’ve put jobs on the line of more than 250 people without giving us the opportunity to refinance, which we could easily have done. They even knew about plans to sell Calanike, which would have totally cleared our debt.

“How on earth can this be described as responsible banking? I always believed that if you did the right thing – made sure payments were made on time, staff were taken care of, you turned a profit and were an ethical businessman – then things would be fine. We’ve even been in active talks with other organisations to grow sustainable employment in the North-East, an area we’ve been deeply committed to. I’m absolutely furious - not just for me, but for every member of staff we employ.

“I’m working with my lawyer, accountant and Zolfo Cooper to investigate all possible options regarding the future of both companies," he concluded.

The news of Sangs' administration broke last night hours after it was revealed that Peacocks and Past Times were also to enter administration.

[jagfox]

Does this mean a return for pee-tee ?

[ubertube]

Something doesn't smell right. The former director of Sangs/MacB says there were no financial issues yet the administrator says there was and the bank acted very quickly. The latter two points don't hang with a company that isn't in difficulty. Someone's not telling the truth.

[Scary Bear]

Pie Of The Month, on 17 January 2012 - 14:22, said:

http://thedrum.co.uk...d=4eb95cc8ac1fc

Reading that, you would be furious with Allied Irish Bank right enough. Pisser.

[Raith Against The Machine]

The "mortgage" on Stark's Park is with the Allied Irish Bank. I don't really have any idea how this sort of thing works, but if they're calling in debts on seemingly secure profit-making businesses...

[Highlandmagyar]

As a manager of a branch of a company that deals with Sangs, i am gutted for the employees!! Spoke to one of their drivers this morning and they only found out LAST NIGHT!!

He has 45 years service with them and is only 5 years from retirement, He doesnt know what hes going to do. Its awful for them.

Regards Thistles situation, it will push us firther towards a rump of a club in the playing sense. With the recent financial blows (well documented here and other forums) times are very precarious.

If Thistle do survive , I fear it will be a la Ayr United (no offence meant), part time and yo yoing up and down the divisions.

[archie guevara]

Highlandmagyar, on 17 January 2012 - 15:38, said:

As a manager of a branch of a company that deals with Sangs, i am gutted for the employees!! Spoke to one of their drivers this morning and they only found out LAST NIGHT!!

He has 45 years service with them and is only 5 years from retirement, He doesnt know what hes going to do. Its awful for them.

Regards Thistles situation, it will push us firther towards a rump of a club in the playing sense. With the recent financial blows (well documented here and other forums) times are very precarious.

If Thistle do survive , I fear it will be a la Ayr United (no offence meant), part time and yo yoing up and down the divisions.

You need to help out then. I insist that you move to Glasgow and attend every home game until the end of the season, buying two pies and four 50/50s in the process, as well as having two pints in the Aitken Suite.

[Kitty_Boy]

Highlandmagyar, on 17 January 2012 - 15:38, said:

If Thistle do survive , I fear it will be a la Ayr United (no offence meant), part time and yo yoing up and down the divisions.

Honestly, its not that bad.

[Dr Koop]

Nizzy, on 17 January 2012 - 11:29, said:

Lose tenants, potentially lose sponsors, papped out of all cup competitions by mid-January, lose to Berwick Rangers, draw with Culter...

Season horribilis.

Dinnae fash yersel', companies are falling over themselves to sponsor Thistle.

[Highlandmagyar]

archie guevara, on 18 January 2012 - 09:55, said:

You need to help out then. I insist that you move to Glasgow and attend every home game until the end of the season, buying two pies and four 50/50s in the process, as well as having two pints in the Aitken Suite.

Id love to go back to Glasgow, but a job is a job.

Im a fat fucker so the pies are a NO-NO!!

Two pints?? Nah! Brandy drinker me!!.

But Im there in spirit

[Swampy]

Is that the outfit that makes Moray Cup?

[Highlandmagyar]

Swampy, on 22 January 2012 - 18:19, said:

Is that the outfit that makes Moray Cup?

Indeed!!

[Spain]

Anyone with inside knowledge know whether Partick actually recieved the sponsorship money for this season from them?

It has been known for this to happen with sponsors before and for them to have not actually paid for the sponsorship due to their financial situation before they go bust, leaving the club with nothing.

[Nizzy]

I was told we'd received one installment. Not to worry, I'm sure Europa or the Enterprise Food Group will step up to the plate.

This post has been edited by Nizzy: 22 January 2012 - 19:15