Vital Football

The Administrator's Axe falls

The Administrator's Axe falls

A very nervous Andrew Andronikou spoke at this afternoon's Press Conference to announce the following -

- Eighty Five staff made redundant as from today.

- twelve others have agree to reduce their working hours.

- a number of other staff are in on-going dicussions to take a salary deferrals.

The 85 staff effected are from a full time staff of 166 including players and 154 part-time staff.

The club's retail shops at both the Cascades Centre and Fareham have been closed.

HMRC

Hacker Young met with HMRC yesterday to prove their independence for Portpin - Chainrai's company. He described the meeting as positive and hoped to have written response from HMRC in the morning.

Cash Flow

AA confirmed the club will fulfil its fixture list this season and next after talks with the Football League and the FA. Meeting with Premier League should take place shortly (presumably about the points deduction and parachute payments)

All monies due for the success in the FA Cup will be forthcoming.

Interested Parties

A Data Room has been set up with all the relevant information available including Non Disclosure Agreement. Proof of funds MUST come first.

Questions

In reply to questions from the floor AA confirmed Peter Storrie has taken 40% cut in his basic wage. This will now be significantly less than £0.5m. AA made it clear PS is Chief Executive TODAY!

All at Vital Pompey note with great sadness the dismissal of some long serving and popular members if staff - They are paying for the mistakes of others.

As fans we will make sure that those responsible will be made known as soon as possible.

Elsewhere

Chester City were formally wound up by the High Court. City had already been thrown out of Blue Square Premier league for failing to fulfil their fixtures. They owed just £26,125 in taxes!

Cardiff City were given a further 56 days and Southend United 35 days to clear their Revenue debts.

PUP

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Writer:eastneydave
Date:Wednesday March 10 2010
Time: 5:44PM

Comments

0
I obviously know the names and details of some of those involved but will not publish their details unless they ask me to. These are confidential matters and distressing days for them all.
eastneydave
10/03/2010 17:48:00
0
Did Lucius survive? I always found him to have the club at heart
paultsmouth
10/03/2010 17:57:00
0
Totally sad that people have lost their jobs. Shame it wasn't Storyman and Robins but working class people with mortgages and families to support. Did Linvoy survive the chop? I know he's not short of a few bob but it would be pretty sad to see such ag reat servant leave the club in this way What worries me as well is that it's not the end of the cuts. Admin Andy said that the cuts were based on Premier Leagur football not fizzy pop. Think we will be in the fizzy pop next year somehow
yellowcheesemonkey
10/03/2010 18:12:00
0
I feel really bad about all these good hardworking people who have lost their jobs today, and I really hope they all find something else sooner rather than later. None of them had any part to play in getting the club in this state in the first place. Its such a shame, especially as there is much of the other things said by the administrators which are quite positive, ie confidence about the court date/HRMC situation and that the club WILL fulfill its fixtures, as well as it looking hopeful re new owners. But none of that helps those who lost their jobs today, does it.
tracyc
10/03/2010 19:45:00
0
terrible times - I hope those who fleeced your club are now happy!
merlin
10/03/2010 20:11:00
0
Cardiff value their squad at £30M. We value ours at £21M!
bluedr
10/03/2010 20:40:00
0
methinks storyteller has been moonlighting with cardiff and valuing their squad then...£30m my arse!
paul as i understand it lucius has indeed survived but will take a MASSIVE paycut , MUCH more than storyteller...he and robbins are surely among the main culprits for our sorry state - i find it criminal that they say 40% cuts on not! SO many are paying for their mistakes...
ok, lets be honest we probably have been employing too many, and probably paying too much along the way but it seems to me as tho so many that DID have the club at heart have been cast aside, which is heartbreaking - storyteller had better not show his face at fratton park again if he knows what is good for he! did he not say 'if the fans want me to go i will go', surely he MUST realise that the fans now want this...
i for one know of one person, maybe others, and feel so, so sorry for this person who i know gave everything in the job they did - best wishes to all of those that have gone, hopefully those more deserving will follow you soon!
pompeyrug
10/03/2010 20:46:00
0
I write as someone who has spent 3 months under notice of redundancy and watched others leave whilst i kept my job because someone felt i was usefull; and that is what it is all about. If the club managed quite succesfully on 250 people previously why over the last year did the staff count shoot up to well over 300; just another sign of poor business management. This horrrid thing was invevitable and even if a new owner came in tomorrow it is clear that not all these people would be offered their jobs back; Admin Andy states that the redundancies were sympathetic to the running of the club; code speak for over staffing. Whilst if i ever met Storrie on the street it is entirely possible he might coincidently trip and fall, at the moment i agree he needs to stay at the club until stability is restored. The jobs cut were positioned that were not considered essential to the club; no comfort to those that lost their wages in hard times. trying to find some positives i noted that Ad man believes the HMRC are now satisfied and the Admin process can proceed possibly as soon as tomorrow; this is vital to us avoiding a championship points deduction; futhermore when asked about certain events in a months time he clearly felt the club "i would hope to have positive news by then" so i suspect ( and i think Rug agrees) one or two of the candidate buyers will have made official bids by this time in April; Some small comfort for us on a horrid day. Assuming independance allows i would prefer to see Admin and his employer Chanrai in the directors box at Wembley as opposed to Peter - let me tell you-a storrie
russellm
10/03/2010 23:49:00
0
Echo most thoughts on this subject .. Although scant consolation at this time the important thing that the individuals concerned must come to understand is that it is THEIR JOB that has been made redundant not them - It is not a reflection on them as a person or how well/hard they worked .. Good Luck and best wishes to them all
Chix
11/03/2010 07:07:00
0
Chix, that's a very valid point indeed and very important in helping those whose jobs have been made redundant to retain their self-esteem.
ninjatim
11/03/2010 08:06:00
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