trade vet

Shelf fees.It was Tesco who got caught taking suppliers ‘ shelf fees’ for the next financial year in advance and then recorded them to artificially increase their profit to maintain their share price and directors bonuses.Directors were fired,the shares then plummeted and we still hold quite a few standing about £3.50........another fine mess !

Robert Forrester Vertu Motors / Bristol Street CEO yesterday confirmed they sold 2 last week .They have 120 outlets/dealerships.

Just watched Mr Forrester.Just as I thought ,he is all corporate and not a car dealer.Amazing guy to have built up a £2 billion T/O Dealer Group business employing 6000 people.However what I don’t understand is that he said Vertu have very little debt yet according to their accounts they have total liabilities of £870 m.He also said to his credit furloughed sales staff would be paid based on their wages including commission.

I think those terms are unenforceable and the gov.has said leases cannot be forfeited.

I think you are within your rights to inform your landlord that you will be deferring rent and you will repay it over a given period when things get back to normal.Burger King were reported as doing that.Landlords cannot expect the arrears to be paid in a lump sum. Our company rents out to a successful long established business and we have informed them not to pay rent from April until this is over and things are back to normal.

Ha Ha Casper,Ex Police 309 diesels,I have to tell you,no body sold more than us.

Hi Casper P 309 diesels ,one of my all time favourites.Good margins,great punters,next to no comebacks.Early 90’s ,they were the ‘future ‘.Sounds rediculous now but we used to knock them out week in week out......past glories again !

Of course,we are big fans.I wouldn’t be surprised if he has Prince Harry guesting next series seeing as he has moved down to Tinseltown.

Thank you Casper,I am OK.Do you not mean my knowledge always comes across and annoys people ( I can’t help being a bit like Larry David )

What a nerve.I am not so sure that Ling should be gatecrashing on here and lecturing us about employees rights.I have to say I doubt she is selling off assets but it is nice to see her chucky/lease company is doing OK after having several other companies struck off.However it is still possible some people/creditors in the north east might be interested to hear from her about failed car retailer Car Shock where she was a connected party.I wonder if the sales guys got paid up.

I agree Noa.I think the key to all this if you want to qualify for any of the proposed help ( except for the business rates relief )you will have to prove you are in need.So those with cash reserves may be rejected.The gov.job retention scheme is unclear about employees commission earnings .I may be mistaken but it does not definitively say it cannot be used in the calculation and there appears to be no mention of employees overtime earnings.Some people might argue that overtime and commission should be treated the same. Let’s hope we still have power for heating our beans on toast in the near future.

Are you sure commission is not involved in the total income 80% calculation.Someone told me it was.

Hi Tango Victor Sorry to hear you have been ill,welcome back. I think £30 per week for motor traders cover is OK,it is tax deductible.If he had a pitch /showroom /workshop with several staff,he might be quoted upto 10 grand. I think the admin charge is their commission which they now have to declare. If we get over this plague,there will be a spending spree. BTW I think Cressida Dick was on telly last night appealing for your return !

It is not a good sign when the chief financial officer who probably arrived by fanfare has suddenly left.Their press statement that they have raised another £100m from funders ( hard nosed venture capital guys ) because of their success to date could be just a smokescreen.

When you see the rent and rates being charged on these huge vacant dealership premises,they must be a considerable drain on the dealer groups who hold the leases.If you were daft enough and could afford to,you could probably negotiate a huge lump sum payment from the lease holders to take one on.

Hi Mark No not yet,I have 2 potential good long term tenants.One for a Kwik Fit type and MOT and accessories and another an existing kitchen and bedroom company who want to share it with a tile supplier who have other outlets.I have had several car dealers wanting it but they have been unable to convince me that they have or will make any money.When this is all over I hope I am still around to restart negotiations.

There are empty big franchise showrooms availible everywhere,I have never seen so many.The best franchise dealership premises in our area is now empty,you could not wish for a better pitch.Is there any wonder,as Mr Gupta says the average net profit of late has been 0.8% and its going to get a lot worse.

Have you seen Bangers and Cash tv programme about MATHEWSON’S auction in North Yorkshire.Mini Cooper s 1275 total rotbox most scrap men would have refused it....It did 19 grand ?

Correction Black Sierra XR4x4, why did I say Cosworth ,now they were crap ( but good sellers )

Thank you for agreeing Casper.I now remember selling a Cosworth to some full spec lawyer.He said OK I will have it and we shook hands.I said I didn’t need a deposit and he insisted that I take a one pound coin and give him a receipt.He went on and on about sale contracts and peppercorns or something which protected him incase I sold it to someone else.

He knows the franchise job inside out.The directors of Lookers could not do any better than tempt him with a big parachute deal.

Ha Ha ......I am not making this up,I do know a lawyer guy who is a nightmare .

Of course I agree.However I can think of someone ( a lawyer) who would capitalise on an error and breach in contract law and then sue . Ditto

Carefull David you may have entered into a contract to sell it for £5490.You have asked for ‘the deposit’ of £5490 prior to doing the work etc.I think you should have said ‘ a deposit ‘ etc. The word deposit in financial transactions does not always mean part payment. I would be emailing him back with an explanation in case he has a lawyer/ barrister relative.Years ago Barratts I think were advertising that they would pay your first years mortgage on new homes.A sharp lawyer seeing this managed to arrange a 1 year mortgage with his building society and got a free house !

Sorry,I did mean you can defer your rent and the business secretary has stated you cannot be evicted or forfeit your lease between now and June.I don’t think even the deferred rent has to be settled in a lump some.I think Burger King lawyers might know a bit more than us.