Sunday, April 03, 2011

Chairman Alastair Johnston says Rangers will survive and will never go bust -

Chairman Alastair Johnston says Rangers will survive and will never go bust - The Daily Record

There seems to be an awful lot of protesting going on! Nobody with any business sense is going to buy a business which is under investigation by HMRC. Especially as it looks more and more likely that huge penalties are going to be levied.
HMRC can demand immediate payment as the case as gone on so long. They can also backdate interest on the money owed to the time that it was first demanded. So some new owner is going to walk in blind to what could a massive demand for immediate payment of tax, interest and penalties on top of the purchase price? I don't think so!
If Rangers lose the tax case before any sale then they are sunk. They gotta get out before the case is settled and pass the parcel on to the new owners. Any potential bidder has huge leverage to reduce the asking price.
The lower the asking price goes the more desperate it looks that they want to offload which in turn makes them look a terrible proposition to buy.
No businessman would touch it as a going concern. However if he can get the buying price reduced by the amount possibly owed to the taxman then he wins if the taxman loses the case because he saved money on the buying price and buys it cheaper. Should the taxman win the case, the bill could be paid from the money saved by the reduction in purchase price. It is a gamble on the tax case result.
I still think that ASDA or Tesco will end up with it as a supermarket and private housing one way or another.

No comments:

(1) Walmart Employees EXPOSED For Falsely Accusing Shoppers Of Theft - YouTube

(1) Walmart Employees EXPOSED For Falsely Accusing Shoppers Of Theft - YouTube