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Just received my last "Speedferrries in administration" email. They have finally been dissolved and unsurprisingly there are no funds available for unsecured creditors including me with my one unused ticket. I must have travelled 20 times with them - actually it's probably 19 or 21! We discovered we quite liked Boulogne as a start point for all our road trips to France thanks to them. Guess I'm not the only one who will miss them; the administrators found £16,000 for the bank and £925,000 for themselves for winding it down.
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As an accountant I am often surprised (not) just how often the administrators fee exactly matches the remaining cash in the company bank account. Cynical? Moi?
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I was a big Speedferries user and got the credit card refund on my remaining tickets ages ago.
RIP, liked the service, speed of loading and going to Boulougne.
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clearly enough of you were not speedferry users.
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I used them too. Although they are gone their legacy lives on. I used to pay £200 for a 2 or 3 week return, now its more like £100
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>> As an accountant I am often surprised (not) just how often the administrators fee exactly
>> matches the remaining cash in the company bank account. Cynical? Moi?
>>
And as an accountant you'll also not be surprised that lurking behind that fee is usually a thumping great write-off on the time costs.......
Unfortunately a lot of folk think it's possible to close down major companies, sort out all the odds and ends, get everyone double their money back, and achieve all this for a bag of chips and the bus fare home - I wish.
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>> And as an accountant you'll also not be surprised that lurking behind that fee is
>> usually a thumping great write-off on the time costs.......
Doesent stop firms falling overthemselves to do it. And we all know the "cost per hour" prinicipal is nothing short of thievery. I was charged out on a "cost per hour" I wish I had got anywhere near my "cost per hour" in salary.
Its the bottom line that counts and thats healthy enough.
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>> I wish I had got anywhere near my "cost per hour" in salary.
>>
Now THERE'S a tune we can all hum ;-)
>> Its the bottom line that counts and thats healthy enough.
>>
...although the partners will never be satisfied...
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Speedferries - the final nail. - Alastairw
