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Tweedy Group - The Aftermath

Waynecarr

Granted 100 days protection by the courts today

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Sully

2Bv¬2B wrote: »

Slightly off topic here, but I believe oxygen hold "teen disco nights"... what irritates me is when alcohol is found among the teenagers it's canceled straight away, all well and good. However the large group 20-30 + decide to all go to the cinema, girls 13-16 done up as if they were in their 20's.

I like to think Tweedy is preparing them for Rubys 2-3 years down the line. The place is a **** hole anyways.

They cancel the disco if someone is found with drink on them?!

Asmodean

The place is a **** hole anyways.

Too right! Can't stand the place.

2Bv¬2B

Sully wrote: »

They cancel the disco if someone is found with drink on them?!

To my knowledge, that is the protocol.

Please correct me if i'm wrong, but I know that alcohol is a very serious issue there, could be something to do with the insurance or something.

cassette50

Nothing filed with the C.R.O. in relation to the parent company (Company Number 410539) going into examinership.

Form E24 must be filed within 3 days of the appointment.

wellboy76

Sully, I really think you should remove this thread until something comes out on the Munster in the morning or with Billy on Blaa FM. Some of the stuff put up here has been absolute rubbish

Sully

wellboy76 wrote: »

Sully, I really think you should remove this thread until something comes out on the Munster in the morning or with Billy on Blaa FM. Some of the stuff put up here has been absolute rubbish

Indeed. Someone can PM with their source when they have it, if it materialises.

Until then, this topic shall be closed.

gscully

Mods: I'm creating a new thread in the hope you can merge with the currently-closed one of the same subject. The reason I'm doing this is because the current thread is locked, but the original post has been confirmed on WLR, and it being fairly big news, deserves to be discussed immediately and not wait for a mod to get around to unlocking. Hope that's ok? (I'm fully supportive of why it was locked in the first place)

Taken from WLRFM.com:
The Tweedy Group of bars in Waterford City has gone into examinership.

An application for examinership was appointed to the Group yesterday when it appeared before the High Court.

The bar and entertainment group, owned by Bob Tweedy, includes Muldoons, Rubys and Oxegyn nightclubs, The Woodman bar, Oskars bar and restaurant on the Dunmore Road, Masons and Bad Bobs bar.

It employs around 200 people across 10 venues throughout Waterford.

The Group has been granted 100 days of court protection during which time an Examiner will try to restructure finances and develop a strategy for its survival.

Bob Tweedy said the economic downturn has forced the group into examinership

However, he says he is confident the group will survive

Cabaal

Big news alright, given the amount of places he has did he spread himself too thinly and perhaps get greedy?

gscully

Cabaal wrote: »

Big news alright, given the amount of places he has did he spread himself too thinly and perhaps get greedy?

I think they're all greedy and that's the problem. They've (not just Tweedy) had it so good for so long that they didn't have a clue how to react to the downturn. Where were all the good ideas to keep the money coming in? When you see how The Cove can continue to sell pints at around €3 to €3.50, you have to wonder why Tweedy and his ilk didn't try something to get the punters in. Having Texas Hold'em, Darts, Table Quizzes in Masons was just pure laziness. Reducing prices would've brought more people in.

I can't say I feel sorry for the proprietors...just the staff who may be affected.

MacGyver

here's proof to keep the topic open http://www.wlrfm.com/tabId/503/itemId/3276/Tweedy-Group-in-Waterford-goes-into-Examinership.aspx

Asmodean

Lads sorry if I sound like a total twat but could someone please explain to me what exactly 'Examinership' means. Just a bit unsure of what it entails. Cheers

Cabaal

Asmodean wrote: »

Lads sorry if I sound like a total twat but could someone please explain to me what exactly 'Examinership' means. Just a bit unsure of what it entails. Cheers

http://en.wikipedia.org/wiki/Examinership

The protection of the Irish Court for the company against its creditors enables it, for a period of time, to continue to trade and to attract investment on more favourable terms. The process, managed by a court-appointed Examiner, usually results in creditor balances being reduced, while intangible assets of the company are protected, investment is obtained and in the short term at least, directors retain control. Examinership is an option available to an insolvent company that enables it to explore all opportunities to provide for its survival, as an alternative to liquidation.

The process became possible following the emergency enactment of the Companies Act 1990. The Irish legislation reflects the pro-active self-help provisions of U.S. Chapter 11 type protection afforded to companies. The activities of a company under the protection of the High Court are subject to the scrutiny of a High Court Judge.

So in short tweedy has 100 days protection before the vultures start diving for his company looking for money and taking him to court

baronflyguy

gscully wrote: »

Having Texas Hold'em, Darts, Table Quizzes in Masons was just pure laziness. Reducing prices would've brought more people in.

I didn't know you could play Texas Holdem Poker in Masons!!!!
Maybe bad advertisement too was a factor.

I stopped going into Muldoons long time ago because it felt like going into Mos Eisley Cantina.

well butty

Cabaal wrote: »

So in short tweedy has 100 days protection before the vultures start diving for his company looking for money and taking him to court

Why do you call them "vultures". The Tweedy Group over extended themselves (40 million plus) and are not in a position to honor those loans. I believe the Banks are entitled to look for their (our) money back!

It will also increase competition and hopefully revitalised venues if the group is brokenup and new owners come in!

Sully

Can't open the other thread, on a mobile with none of the mod tools. If people could now stop sending me PMs, iv been sent several PMs with articles backing it up

ill open it when im back on a pc and merge this one.

Thanks for the PMs anyway, all sorted now

Cabaal

well butty wrote: »

Why do you call them "vultures". The Tweedy Group over extended themselves (40 million plus) and are not in a position to honor those loans. I believe the Banks are entitled to look for their (our) money back!

Its a figure of speech, I don't mean they are doing anything wrong as they are owed the money and have a legal right to it...no doubt about that!

I used the term because they will try to pick what money they can from whats left of the tweedy group, obviously its unlikely everyone will get everything they are owed.

Personally after seeing (for the first time I might add) the list of what tweedy owns in my view he has a monopoly in Waterford and that’s a very bad thing for local business as it kills competition.

trishw78

baronflyguy wrote: »

I stopped going into Muldoons long time ago because it felt like going into Mos Eisley Cantina.

If only it played the funky music when you walked. I stopped going there 'cause they changed the DJ.

Aquos76

As this has now been confirmed by various media outlets, this thread has now been reopened and the second thread has been merged into this one.

ROCKMAN

Daysha wrote: »

Rubys, Muldoons, Masons, Oskars, Oxygen, the Woodman, Park Inn, Bad Bobs, they're all not gonna close down are they?

Is Bad Bobs/Park Inn part of the company,Or does Tweedy Snr not still own them ?

JohnC.

ROCKMAN wrote: »

Is Bad Bobs/Park Inn part of the company,Or does Tweedy Snr not still own them ?

They're both listed on the group website
http://www.tweedygroup.com/

Clano

i was in rubys last night twas very clear something was going on, the cloak room wasnt open and the smoking area was closed, obviously couldnt pay the staff to man the areas

AngelinaJolie

i'm in my early 30s and it's been 8 years since I've been to Rubys.. I went to Muldoons during the summer and swore I'd never go again..and I've never even been inside the front door of Masons (out of respect to the Junction). Of those that I did go to the crowd was the most off-putting, closely followed by the sh*te music. Still though, I do feel sorry for the staff who might lose their jobs...
Love the Forum, although I think it needs a bit of competition. Can we have more of that type of thing in Waterford please?

Partizan

While it is unfortunate for those about to lose their jobs (200 people), this could be a blessing in disguise regarding nightlife in Waterford. Tweedy held a monopoly on venues in Waterford which blocked any outside competition, stymied growth and encouraged intertia and stagnation within his own organisation.

What I think will happen is that his company will be broken up & go into liquidation as there will be no takers due to the massive debts accrued. The banks and creditors will then move in to strip/sell the assets for what their are worth. Regarding the venues, I think some of them will eventually open under new management. However given the current economic climate in Waterford, that might not be some time. It will be a bleak Xmas for 200 people and their families.

Musicman2000

Lads these venues are not going to suddenly close down, they have 100 days, which will bring them into the new year, and I have a feeling Mr Tweedy is no fool as a venue in Kilkenny and Dublin has being acquired recently by him. I think he will be around for a while longer.

abouttobebanned

Huge amount of ignorance in this thread. It was probably better off closed.

Anyway, I'l reply to a bit here and there..

Clano wrote: »

i was in rubys last night twas very clear something was going on, the cloak room wasnt open and the smoking area was closed, obviously couldnt pay the staff to man the areas

This has been the case for the last 8 months or so. The crowds midweek, especially when the students are on midterm break do not justify having that many staff on. This has nothing to do with events this week.

Partizan wrote: »

While it is unfortunate for those about to lose their jobs (200 people), this could be a blessing in disguise regarding nightlife in Waterford. Tweedy held a monopoly on venues in Waterford which blocked any outside competition, stymied growth and encouraged intertia and stagnation within his own organisation.

What I think will happen is that his company will be broken up & go into liquidation as there will be no takers due to the massive debts accrued. The banks and creditors will then move in to strip/sell the assets for what their are worth. Regarding the venues, I think some of them will eventually open under new management. However given the current economic climate in Waterford, that might not be some time. It will be a bleak Xmas for 200 people and their families.

There is no blessing in disguise here. Bob Tweedy has provided employment to a lot more than 200 people in the last few decades and he comes in for abuse of so many people, many of whom don't really have a clue about anything, except for the fact that they don't like paying into night clubs. The government made it next to impossible for bars and clubs to survive with their taxes and exemption charges. The Tweedy Group for the last 30 odd years has been the first port of call for every charity organisation in waterford, every festival, every event, and each time they dipped into their pockets, yet still there are people that are reacting to this news with semi celebration.

For those who think that some other great big night club entrepreneur will come in now and open the clubs and super bars of your dreams, you're deluded. That's not going to happen. If, and this is a big if, any of the venues would be closed, then Harveys etc would immediately start their door charge and the prices would go up even more.

AngelinaJolie wrote: »

i'm in my early 30s and it's been 8 years since I've been to Rubys.. I went to Muldoons during the summer and swore I'd never go again..and I've never even been inside the front door of Masons (out of respect to the Junction). Of those that I did go to the crowd was the most off-putting, closely followed by the sh*te music. Still though, I do feel sorry for the staff who might lose their jobs...
Love the Forum, although I think it needs a bit of competition. Can we have more of that type of thing in Waterford please?

Anybody want to tell me what the point of this is? You don't like mainstream venues, cool, good luck to you. What has this got to do with the current situation? When the Glass went into receivership how many people came out and said, well you know...I never like Waterford Crystal anyway? Same with B+L when they let go staff...ah I never liked their sunglasses anyway. FFS like...

Kahless wrote: »

They're both listed on the group website
http://www.tweedygroup.com/

That website is a bit dated at this stage. Bob senior owns The Park Inn and Bad Bobs, and has nothing to do with these events. Oskars is under new management as well.

gscully wrote: »

I think they're all greedy and that's the problem. They've (not just Tweedy) had it so good for so long that they didn't have a clue how to react to the downturn. Where were all the good ideas to keep the money coming in? When you see how The Cove can continue to sell pints at around €3 to €3.50, you have to wonder why Tweedy and his ilk didn't try something to get the punters in. Having Texas Hold'em, Darts, Table Quizzes in Masons was just pure laziness. Reducing prices would've brought more people in.

I can't say I feel sorry for the proprietors...just the staff who may be affected.

Where do I start. Getting dart boards, pool tables and running poker nights was lazy? Christ...I'd really love you to explain that one. The bar relaunched as a sports bar (at very little cost) new screens were put in and the bar did considerably better as a result. Reducing prices would have been better? All their drinks are €4 Sunday - Thursday. Do a bit more research before your next post methinks.

They advertised these nights on WLR, and every week in the local press, as well as posters in and around the venues.

I've said it before and I'll say it again, Waterford's Night life is in the state that its in because it was never supported by Waterford people. And this thread, as it runs on, will be proof of that.

AngelinaJolie

just from my own point of view.. it is a problem if people don't go to pubs /clubs for whatever reason- I was just giving my own. Ditto it is a problem if people are not buying Waterford glass. Of course, I would guess (I stress the word 'guess') that mismanagement and overstretching of resources was the main problem in the Tweedy examinership and in Waterford Glass.. because there will always be people who want those kinds of products no matter what (although for the life of me I don't know why!)

JohnC.

abouttobebanned wrote: »

That website is a bit dated at this stage. Bob senior owns The Park Inn and Bad Bobs, and has nothing to do with these events. Oskars is under new management as well.

Of course. I was forgetting that it is beyond Irish businesses to keep their websites up to date.

nicole_s

thank god for "abouttobebanned" for making some sense among all this s**t talk! i actually had to join boards just to make a comment about all the ignorant people leaving comments on this who know nothing about Bob Tweedy, The Tweedy Group or anything about whats going on at the moment. I have worked for the Tweedy Group for a number of years and what happened yesterday is totally unfortunate & i cant understand how people seem to be happy about this and getting enjoyment out of someone elses misfortune. All these people seem to have forgotten that this is someone who has worked for 20 odd years on building a great company. Ok so some of the premises may not be ultra modern & up to scratch but as you may have heard when Bob was interviewed on WLR he does want to renovate & due to the banks has been unable to do so. People say hes charging crazy prices etc, but what bar in waterford is much cheaper? Ye say the Cove but that is a promotion for a month no? And are ye all forgetting about the money that Bob is pumping into the local ecomony with all the local suppliers he deals with and the fact that he has 200 odd people employed.

Clano

abouttobebanned wrote: »

this has been the case for the last 8 months or so. The crowds midweek, especially when the students are on midterm break do not justify having that many staff on. This has nothing to do with events this week.

And you know this because your in there at least 2-3 nights a week like i am is it?
I agree about your point about the smoking area as it was closed many nights during the summer also but the cloakroom was never closed before and this is strange because jackets were never really allowed in there.
It was also packed in there.
I also KNOW from friends employed there that they were understaffed last night due to cuts.
I also agree with you about your point on the charity support tweedy was involved in but you cannot disagree that the town was a monopoly and should never have got that way and hopefully some of these venues will come under new management and increase competion and hopefully retain the staff

alphapa

looks like people just turned on the tweedy group they have been ripping people off for too long. muldoons is a prime example must be the dearest place in the town to buy a drink for the last few years but they havent as much as gave it a lick of paint for years, i know a good few lads working there and its not the managers fault either they just do what there told etc in saying that they hav done some good work with shaking up the night life aswel with bands every night in ruby lounge sports bar in masons but the cove has proven it all comes down to what a pint costs the place was jammers last sunday for the match and if the cove can charge that i see no reason why anywhere else cant! they must have made a absolute fortune over the years and fair play to the tweedy group they do support charity in this town as that chap above stated!