Salisbury Company goes Bankrupt
Posted by: Don Atkinson on 15 June 2008
Salisbury Company goes Bankrupt.
NOT Naim Audio, but the flying school at Old Sarum airfield that used to keep me occupied.
They have actually gone into voluntary liquidation and at the creditors' meeting last Thursday it was stated that they owed c£400k and had assests of c£20k. The aircraft were owned by a mumber of different companies/individuals and leased to the school. Most of these aircraft have now been leased out to other flying schools around the UK. One of these leasing companies was separately owned by the lady who owned the flying school. That company doesn't seem to have gone into liquidation, but the airfield owner has impounded those particular aircraft. Six aircraft worth about £200k I would guess.
Fortunately I was last paid on 27th May (money is secure!!) and they went into liquidation on 29th so that's not a big issue and I have already picked up some unexpected, non-flying consultancy work on an adhoc basis which should keep the wolves at bay.
However, because I also used to use their aircraft for recreation, I had deposited an advance payment of a grand with them in mid-April, of which c£600 was still left for future use. I had deposited the grand using my Barclaycard, rather than cash or wage-transfer etc. What's the probability of ever seeing any of that outstanding £600 again? I ain't loosing any sleep over it, but wouldn't like to see it unecessarily slip through any net. Lets face it, £600 = £600 = Powerline after all!!
Cheers
Don
NOT Naim Audio, but the flying school at Old Sarum airfield that used to keep me occupied.
They have actually gone into voluntary liquidation and at the creditors' meeting last Thursday it was stated that they owed c£400k and had assests of c£20k. The aircraft were owned by a mumber of different companies/individuals and leased to the school. Most of these aircraft have now been leased out to other flying schools around the UK. One of these leasing companies was separately owned by the lady who owned the flying school. That company doesn't seem to have gone into liquidation, but the airfield owner has impounded those particular aircraft. Six aircraft worth about £200k I would guess.
Fortunately I was last paid on 27th May (money is secure!!) and they went into liquidation on 29th so that's not a big issue and I have already picked up some unexpected, non-flying consultancy work on an adhoc basis which should keep the wolves at bay.
However, because I also used to use their aircraft for recreation, I had deposited an advance payment of a grand with them in mid-April, of which c£600 was still left for future use. I had deposited the grand using my Barclaycard, rather than cash or wage-transfer etc. What's the probability of ever seeing any of that outstanding £600 again? I ain't loosing any sleep over it, but wouldn't like to see it unecessarily slip through any net. Lets face it, £600 = £600 = Powerline after all!!
Cheers
Don