Hard numbers and tough choices at Sevco

The 4th of August was meant to be, well, an august day for the Sevco High Command.

Last Friday was marked down as a big date in the diary of the Blue Room chaps.

That is because Mr David Cunningham King was meant to be dialling in to reveal the Grand Plan to finally deal with the impending Take Over Panel thingy.

Sadly, at very much the last minute, he was unavailable.

A terrible shame that.

Dashed bad luck.

I do hope that he is ok.

I’m told that one transatlantic caller became rather exercised at the sudden unavailability of the esteemed chairman.

Interestingly, I’m also informed that those excellent chaps from Campbell Dallas were there to lay out their forensic findings.

However, just before they had the floor they were told to merely give a précis of the state of financial fair play at the Holding Company vehicle.

It will come as no surprise to regular readers here that the current wage bill at the Engine Room Subsidiary is cripplingly unsustainable.

Young Master Waghorn leaving today was definitely a help as was the departure of Rob Kiernan.

More will need to come off the wage bill and, crucially, they should also bring in a substantial transfer fee.

It was stated that a major cash injection would be required in September.

Once more, this will come as no surprise to regular readers of this site.

If one austerity measure goes ahead then employees at Sevco will find out that the Serious Professional is not their flexible friend.

I’m sure those excellent fellows at Campbell Dallas would agree with me that they are currently auditing the accounts of a loss making business without a credit line from a bank.

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