Mr.Binman enter examinership.

ahal

http://www.independent.ie/national-news/600-jobs-at-risk-as-examiner-appointed-to-waste-company-2904547.html

The Snipe

Not really good news, Considering over 600 people work with them..

ahal

XiledSniper wrote: »

Not really good news, Considering over 600 people work with them..

I take your point, and it's a good one ... I do sympathise with same while wondering what kind of quality of employment they have. Personally I don't think that employers like this have much to offer in the longer term though.

flutered

i posted on the c ounty board some time ago that they were axeled, out in the sticks they seem to think their customers are plain stupid.

ahal

They seem to have been in the news a lot over the past couple of years, between derogatory comments about Irish workers, lamenting how people wanted to buy into their fantastic enterprise, trying to cut wages by half, workers on strike for 3 months, leaving people waiting on bins, breaching planning, and the death of an employee due to health and safety negligence:

http://www.irishtimes.com/newspaper/ireland/2011/0601/1224298206354.html

With employers like that, the exaggerated 600 jobs lost (more like 200 in reality) pales to insignifigance.

phog

Regardless of it being 600 or 200 I really cant see how it's a big lol.

I take it your not one of the workers or one of their dependents, if you were I think your concern would be greater.

ABEasy

Odds are that the majority of the employees will be safe. Generally in an examinership new capital is invested, assuming the current owners don't have the funds (fair assumption given they would have input prior to going this route) I would guess a larger operator would be putting up the capital to obtain a significant percentage of the business. If the examinership fails id imagine the banks will sell the business as a going concern. Either way this should secure the business and employees jobs in the medium term.

ejmaztec

Someone else in the waste business was telling me a few years ago that Mr Binman was getting a lot of new business by under-cutting the competition, and that it was only a matter of time before the cash-flow was going to take a hit because their prices were too low.

There's bound to be someone else filling the void (because no-one wants this situation to drag on), and hopefully the Mr Binman employees will find jobs with whichever outfit(s) move in, or take the company over.

campo

ejmaztec wrote: »

Someone else in the waste business was telling me a few years ago that Mr Binman was getting a lot of new business by under-cutting the competition, and that it was only a matter of time before the cash-flow was going to take a hit because their prices were too low.

There's bound to be someone else filling the void (because no-one wants this situation to drag on), and hopefully the Mr Binman employees will find jobs with whichever outfit(s) move in, or take the company over.

Really I thought they were more expensive then others, but back on topic hopefully for sake of the staff they wont close Ok they might not have the best working conditions but im sure they prefer that to no work.
Also isnt it true that the owner of Mr.Binman had a previous company before Mr.Binman they went to the wall and he set up Mr.Binman and just hired the same staff he had in the previous company so maybe he is planning something along the same lines here

ejmaztec

campo wrote: »

Really I thought they were more expensive then others, but back on topic hopefully for sake of the staff they wont close Ok they might not have the best working conditions but im sure they prefer that to no work.
Also isnt it true that the owner of Mr.Binman had a previous company before Mr.Binman they went to the wall and he set up Mr.Binman and just hired the same staff he had in the previous company so maybe he is planning something along the same lines here

I think the under-cutting was more to do with commercial customers, e.g. those with permanent skips outside their premises, as against domestic customers who seem to get fleeced by most of the waste companies.

Wasn't there another fiasco where the company was supposed to buy thousands of bins for its customers, and couldn't afford to buy more than a fraction of what was required of them?

I hope that a responsible employer steps in, and that none of the workers lose out.

BobMc

they couldnt buy the bins for the customers cause they couldnt pay for them

Terry_Tibbs

have supplied this company...out of pocket to the point where I'm under pressure tonight because of Mr. Binman mismanagement and obvious reckless trading.....met several small business people out big big money and don't know how to handle this situation tonight let alone feed familys...as for employees, have to feel for them aswell as all the other self employed guys working night and day trying to eek a living out of it and hell to pay.....<snip>....<snip>...what will the EXAMINER have to say to that I wonder??...<snip>...I'm not a violent person but I cannot speak for some people I've met this last few days who have been badly burnt by this...I'd gladly give up what money I'm owed and more to be in my shoes and not that familys shoes because in my view if that rescue plan does'nt wash, I reckon it will be less than civilised.

Clareman

Welcome to boards Terry.

I have editted your post to take some of the rumours out of it, feel free to find some reputable sources on line to quote from.

Firefox11

While i feel so sorry for the empolyees, as a company they were expensive and there are cheaper alternatives out there. We used to have them (contracted by our management company) and we moved from them because there were more competitive options available.

BobMc

Terry_Tibbs wrote: »

have supplied this company...out of pocket to the point where I'm under pressure tonight because of Mr. Binman mismanagement and obvious reckless trading.....met several small business people out big big money and don't know how to handle this situation tonight let alone feed familys...as for employees, have to feel for them aswell as all the other self employed guys working night and day trying to eek a living out of it and hell to pay.....<snip>....<snip>...what will the EXAMINER have to say to that I wonder??...<snip>...I'm not a violent person but I cannot speak for some people I've met this last few days who have been badly burnt by this...I'd gladly give up what money I'm owed and more to be in my shoes and not that familys shoes because in my view if that rescue plan does'nt wash, I reckon it will be less than civilised.

sorry to hear of your plight Terry, I can concur that something similar did indeed happen in the past, fortunately I'm not out of pocket as I pulled the plug on them some two years ago due to slow payments

Terry_Tibbs

BobMc wrote: »

sorry to hear of your plight Terry, I can concur that something similar did indeed happen in the past, fortunately I'm not out of pocket as I pulled the plug on them some two years ago due to slow payments

Cheers Bob...See where court hearing leads to tomorrow if anywhere...:(

ABEasy

Any news on how the court case went today?

jbkenn

ABEasy wrote: »

Any news on how the court case went today?

From today's Irish Independent
http://www.independent.ie/business/irish/taxman-dumps-on-mr-binman-over-unacceptable-euro18m-bill-2909776.html

Kess73

jbkenn wrote: »

From today's Irish Independent
http://www.independent.ie/business/irish/taxman-dumps-on-mr-binman-over-unacceptable-euro18m-bill-2909776.html

Bit of a different story there to what the mayor was claiming on the radio about the situation.

Might have been smarter not to go on the radio with what Mr Binman told him was the truth, and instead wait until the results of the various court hearings come in.

Mc Love

How the hell do you get to the stage that you owe 50 million!?

Lobsterlady

Mr. Binman didn't collect my bins today, any uptodate news on this?

Limerick91

They collected in Corbally on Wednesday. Give them a call.

As far as I know it is business as normal

Delphi91

They've changed their collection cycle where I live out Annacotty direction. Was every week but from the start of this month it's now every two weeks. Usually the bin was collected in the early hours of the morning (6-6.30am) but last week it wasn't collected until closer to mid-day.

Lobsterlady

I have just rung Mr. Binman, yes, they've have changed their collection dates, and also now only collecting every fornight. Apparently I'm going to get a 'credit' for this. The whole reason I went with Mr. Binman is because I wanted a weekly collection. Looks like I'll be changing to someone else, if I can find a weekly collector.

nikkibikki

Anyone hear how todays hearing went? Have a personal interest in this, PM me if you don't want to post publically. Thanks.

Bicycle

Lobsterlady wrote: »

I have just rung Mr. Binman, yes, they've have changed their collection dates, and also now only collecting every fornight. Apparently I'm going to get a 'credit' for this. The whole reason I went with Mr. Binman is because I wanted a weekly collection. Looks like I'll be changing to someone else, if I can find a weekly collector.

Is this just a localised thing or is it citywide? I know that when I collected recycling bags from them earlier this month, they only gave me 13 for the quarter rather than the anticipated 26. I assumed that it was because there were supplier issues but it dovetails nicely (unfortunately) with the news above from Lobsterlady.

ABEasy

http://www.irishtimes.com/newspaper/finance/2011/1021/1224306211845.html

Should have a decision today

nikkibikki

Thanks a mill. Can anyone explain to me what will happen if a receiver is appointed? I'm not well versed in these matters at all! Will the company close its gates and cease trading straight away? I've a personal agenda here, don't want to give too much away online.

ABEasy

A receiver has one objective, to protect the asset for the creditor (bank), generally they take control of the asset and the company goes into liquidation. However in this case as the receiver will probably run the business and try sell it as a going concern. To run the business the receiver will need the assistance of the current employees, contractors and creditors so depending on how much they need your help they will have to deal with you

jbkenn

ABEasy wrote: »

A receiver has one objective, to protect the asset for the creditor (bank), generally they take control of the asset and the company goes into liquidation. However in this case as the receiver will probably run the business and try sell it as a going concern. To run the business the receiver will need the assistance of the current employees, contractors and creditors so depending on how much they need your help they will have to deal with you

In my experience, I am dealing with three receivers at the moment, the receiver will only accept liability for debts incurred after his/her appointment, and will pay same, debts incurred before his/her appointment will not be honoured and you will have to take the hit.

ABEasy

jbkenn wrote: »

In my experience, I am dealing with three receivers at the moment, the receiver will only accept liability for debts incurred after his/her appointment, and will pay same, debts incurred before his/her appointment will not be honoured and you will have to take the hit.

In general this is the case, but I have seen instances where receivers have paid 'premiums' to creditors that were vital to the receivers maintaining the business as a going concern. Again this is the exception rather than the rule and will depend on how much they need the creditors help with the continued running of the business.

ABEasy

http://www.irishtimes.com/newspaper/finance/2011/1022/1224306297207.html

Decision next week, their survival plan includes securing finance from another bank! That alone is going to be difficult to achieve.

<mod> Linky fixed

the drifter

ABEasy wrote: »

http://www.irishtimes.com/newspaper/finance/2011/1022/1224306297207.html

Decision next week, their survival plan includes securing finance from another bank! That alone is going to be difficult to achieve.

<mod> Linky fixed

Where are they going to get a bank to back them!!!!

Insect Overlord

Mod Note: New thread salvaged from the wreckage of the original.

ABEasy

Examinership refused, dont have link but on rte website maybe mod might link for me (on mobile). Protection extended until tomorrow in case of appeal.

the drifter

http://www.rte.ie/news/2011/1027/binman-business.html


This doesnt look good.

campo

Nope looks like the final nail is about to be put into there coffin such a shame on the staff , the directors should be ashamed of themselves they ran the company to the ground

nikkibikki

Looks like the report has been updated, a bit more positive of the jobs front than earlier.


http://www.irishtimes.com/newspaper/breaking/2011/1027/breaking35.html

the drifter

lol " refusal of bank of Scotland to provide further funding" seriously you owe us 53 million...would you like a few more quid!

nikkibikki

Yes, nobody can really blame the bank! They seem to want to save the jobs as much as possible and want to ensure customers aren't inconvenienced so that is good.

Kess73

the drifter wrote: »

lol " refusal of bank of Scotland to provide further funding" seriously you owe us 53 million...would you like a few more quid!

Had to laugh at that bit. They ran up debts of 53 million to that bank as well as debts of millions to other sources, but they want to try and blame the bank for not lending more money again.

The six interested parties thing is laughable as well. A week or so ago we had the mayor on the radio talking about this, and saying that he was confident it was sorted. And the six investors were trotted out as some kind of proof that things would be fine. I said back then that the mayor would be better served staying quiet on the topic and waiting for the decision of the court as that is the only decision that counts, rather than going to the radio station to repeat information that he was told by Mr Binman. I refer to it as information that he was told by them because in the interview he says exactly that.

I have a great deal of sympathy for the ordinary workers at the company as they face a very uncertain future and it is good that the bank is making sure they get their wages in the short to medium term, but I have no sympathy for the people that ran up stupid debts and who have made comments to the media that smack of people who think they should be allowed their own way on things.

irish_stevo815

My girlfriend is one of the 300 people that are with Binman. It's an absolute disgrace what has happened. I mean when you look at, every second house between Limerick and Waterford is supplied by Mr. Binman. How the hell could let themselves get into so much debt when their business was booming?

I know in the past year or so, a lot of customers changed from Binman to someone else, simply because they were getting better deals elsewhere. And by all accounts, the management of the company is totally arse ways.

nikkibikki

My husband is one of them too.

Mc Love

irish_stevo815 wrote: »

My girlfriend is one of the 300 people that are with Binman. It's an absolute disgrace what has happened. I mean when you look at, every second house between Limerick and Waterford is supplied by Mr. Binman. How the hell could let themselves get into so much debt when their business was booming?

I know in the past year or so, a lot of customers changed from Binman to someone else, simply because they were getting better deals elsewhere. And by all accounts, the management of the company is totally arse ways.

I wouldnt say every second house. Its probably less than that!

ABEasy

Feel sorry for the contractors more than anybody! They'll have to write off their debts and a few could go to the wall because of the recklessness of Mr Binmans directors. Hope they are made accountable for their actions!

BobMc

ABEasy wrote: »

Feel sorry for the contractors more than anybody! They'll have to write off their debts and a few could go to the wall because of the recklessness of Mr Binmans directors. Hope they are made accountable for their actions!

Your having a laugh right accountable? look at what some of the directors of construction companies that created the mess we're in, dont see many of them being made accountable 53m compared to 53b not a drop in the ocean in comparison

jonski

We don't do "accountable" in this country .

mel.b

I really feel for the people whose jobs are under threat. It's the last thing this country needs

I am (overdue) with renewing my bin charges. I have a full bin at home and was going to renew with Mr Binman, however I'm not sure now. Their website said things will continue for the short - medium term. Do people think I'd be ok to renew for another 6months? I rang Clean Irl but they will deliver new bins, meaning i will be stuck with the rubbish i currently have in my bin (don't want to empty it by hand as it has been there for a while:eek:) i assume Mr Binman won't take away the full bin

Thanks,
Mel.b

roco71

mel.b wrote: »

I really feel for the people whose jobs are under threat. It's the last thing this country needs

I am (overdue) with renewing my bin charges. I have a full bin at home and was going to renew with Mr Binman, however I'm not sure now. Their website said things will continue for the short - medium term. Do people think I'd be ok to renew for another 6months? I rang Clean Irl but they will deliver new bins, meaning i will be stuck with the rubbish i currently have in my bin (don't want to empty it by hand as it has been there for a while:eek:) i assume Mr Binman won't take away the full bin

Thanks,
Mel.b

Firstly, DO NOT pay Mr Binman for 6 months now, it is too risky given the situation. Here in Waterford they take monthly payments so will they not take a monthly payment off you there in the Limerick area? this will at least clear any rubbish you have in Mr Binman bins (well it should anyway)

Secondly, will Clean IRL not empty the Binman bins if you pay them for it. If they want your business, then they should empty your existing bins for you as good customer service.

skyguy19

go to clean ireland, they give a better service and are cheaper

mel.b

Thanks roco and skyguy.

When I spoke to Clean Irl I asked if they would empty the Mr BinMan bin and they said no. However I might give them a call back on Tues and push it a bit to see if if they will empty it for the first collection, so then at least i can give Mr binman back an empty bin. Otherwise the pay by the month option (if still available) with Mr binman is the way to go I think.