Originally Posted by
Telfer86
Going into administration is folding ; it is an admission that a business is insolvent
Very few businesses in Australia emerge from administration & continue trading < 5 % & likely closer to 1 or 2 %
How is it positive to be placed into administration ? , where you almost never emerge from
Why are you confident that this business which has lost $ 2B over the last 6 or 7 years will survive
Maybe you know something that not many other people seem to know ?
Anyone know what happened to the $1B in cash that wishful thinking employees seemed so keen to tell everyone about six weeks ago sort of
"we will be right because we have that in cash in the bank" , did they ever actually have it
Goodluck to the Virgin employees I hope you get your entitlements
It’s actually about 1 in 4 companies that come out of administration.
What VA employees are probably sick of reading here is users who post well wishes to employees after having just told them how the place is completely stuffed and should be closed down / not be given a loan / not allowed to have foreign entities buy in.