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Posted By Discussion Topic: Brooms

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brooms hire boats| Brooms Hire fleet| Broom Viking| Nice Broom Commander (?) on ebay| Brooms Hire Fleet Sold ?| Brooms Hire Fleet Sold ?|

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rojomo
Jul-19-2010 @ 10:42 PM                           Permalink
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Here is the linky.

http://www.edp24.co.uk/content/edp24/business/story.aspx?brand=BIZOnline&category=Business&tBrand=EDPOnline&tCategory=xDefault&itemid=NOED15%20Jul%202010%2019%3A24%3A14%3A410

So you want me to moor stern on here?...in this wind?...and tide?...no probs????

SOS247
Jul-21-2010 @ 3:18 AM                           Permalink
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These guys who have now 'purchased' Brooms are basically two
directors from a web of investment companies -TCV ltd, based at
Hethel. (Note- TCV ltd is not related to the large USA business)
Im guessing but TCV could stand for Venture Capital Trust
backwards??!!

So we just have to cross our fingers for the old Broom business and
wait to see what happens....I would guess the property & land still
belongs to Mr Broom & family, as this seems to be the normal
procedure when they purchase a business.

There are however several shareholders & investors tied up within the
investment group, and these new guys mentioned are also 'directors' of
over 20 different companies between them..... they must be very busy!  

It does however seem very strange to why an 'investment group' would
get involved in a business like this?  The down turn is business (i.e.
£11m in 2007 to £7m in 2009?) is clearly nothing to do with how Mr &
Mrs Broom has been running the business, as most other UK boat
builders have also struggled. So it will be very interesting to see how
these guys (who have never been directly involved in the marine
industry before) plan to turn this business around?

The group seems to be able to borrow £millions in a recession, so lets
hope its the start of something good for the local industry & not
another local business just to be asset stripped  Question

Regards jason







They say that 'Hard work never killed anyone' however, sleepless nights, stress, not taking breaks & not eating correctly may just get you there early!!

Marshman
Jul-21-2010 @ 8:05 AM                           Permalink
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Like many others there must be many concerns about this
! Perhaps we should not be too worried - we shall have
to wait and see.
But like Jason, you must have concerns about what is in
it for them? They don't usually buy businesses just for
fun but to make money and not the odd one or two per
cent!!
No doubt they will invest more money in new boats but
thats no guarantee in any market. I expect big changes
at the yard but without the family touch the employees
must be looking over their shoulders a bit.
It will I guess have little impact on the Broads as a
whole but more probably for the wider industry and
local area in the longer term.

billmaxted
Jul-21-2010 @ 8:24 AM                           Permalink
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Let’s face it this is not unique, don’t forget the change in management at Herbert Woods.  In this case however perhaps the biggest worry must be that with a successful product range and U.K. build costs in an upturn there may well be a business case for transferring production overseas.  With the strength of Aqua-Fibre’s local moulding operation gone things may well not be so secure.  Certainly the loss of Broom’s construction work on the Broads would cause a disproportionate hole in the local industry.  Although not immediately effecting those hirering, the absence of builders tailor making boats for Broads waters would have a longer term effect.  

Bill...(The Ancient Mardler)

SOS247
Jul-21-2010 @ 9:31 AM                           Permalink
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Unfortunately in these situations all we do is just sit back and watch it
happen. I think its a great shame that the 'local authorities' can't do
anything to check or reassure that these type of company 'buy outs' are
being done with the correct intentions etc.


When Porter & Haylett's & Crown Cruisers were closed it had a hugh
effect on the local industry and several 'one man' businesses were also
closed.  Many boatbuilders are still struggling to find work.

These two companies single handedly created the largest 'Hire fleet' is
Europe, over 1200 boats were built & transported abroad by these
Norfolk businesses & boatbuilders etc over the last 35 years. This will
never be repeated.

In now looks like the large boatbuilders in France will get any future
contacts to build the hire boats, this is a great shame for the local
industry and another big loss.
However, maybe the Ferry Marina & Richardsons new hire boats will be
of interest to the hire fleets in France, that would be fantastic for the
local industry!    

  



    


  

They say that 'Hard work never killed anyone' however, sleepless nights, stress, not taking breaks & not eating correctly may just get you there early!!

SuPine
Aug-31-2010 @ 12:31 PM                           Permalink
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Has anyone got the full facts about the announcement made to staff at Brooms this morning that the receivers have been called in?

Sue
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ncsl
Aug-31-2010 @ 1:07 PM                           Permalink
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Nothing about Broom, but this man sounds lucky.
http://www.edp24.co.uk/content/edp24/news/story.aspx?brand=EDPOnline&category=News&tBrand=EDPOnline&tCategory=xDefault&itemid=NOED21%20Aug%202010%2008%3A57%3A30%3A380


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Lord Paul
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NEB
Aug-31-2010 @ 6:59 PM                           Permalink
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I'm afraid I do not have the full facts but it does appear that the administrators have been called into Broom Boats this afternoon.

Marshman
Aug-31-2010 @ 7:43 PM                           Permalink
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I am never surprised at anything anymore _ probably hear
more in due course.

SOS247
Aug-31-2010 @ 9:29 PM                           Permalink
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Unfortunately as I mentioned before, I had a bad feeling that this would
happen.

Even though Brooms 'was' a great name in boatbuilding, its track
history over the last few years gave them no advantages when trying to
sell the company.  10 years ago it would have been different.

Sadly its no fault of Brooms, but its just how this UK industry has gone.

Personally I think its a situation that has been 'arranged', so all we can
do is wait & see & hope its being done for the correct reasons??!
and
hopefully something positive will happen.........
somehow I don't think so!
    Mad

They say that 'Hard work never killed anyone' however, sleepless nights, stress, not taking breaks & not eating correctly may just get you there early!!

Marshman
Aug-31-2010 @ 10:25 PM                           Permalink
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Too early to say really but Jason might be close to the
mark - just glad i will not be a creditor!! Might be a
few burned fingers, sadly.

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