Avtech,Biggin Hill in Administration

[saffron]

Sadly,Avtech,Biggin Hill was put into adminisration yesterday,apparently the factors they had been using did the dirty on them,they were in the process of being refinanced,the banks had approved the refinance package but it was not fast enough for the factors,even though the deal was just a few days away.Let's hope the situation can be quickly resolved as they are a great bunch of very professional people.My heartfelt commiserations to Peter,Roy and all who work there.

[Heatedfuelreturn]

Peter was a very good friend, and a great guy to work with.

Many years ago, based in his hangar, and had great respect for them all.

Lets hope that the problem can be resolved.

HFR

[gordon field]

Very sad that this has happened, just a few more days and they could have pulled through. Peter and his team have kept many of us flying for many years by being 'understanding' of the real need / cost ratio of maintenance. Down for a while but hopefully not out for long. Best wishes to all the team.

[NuName]

A great loss to the UK aviation community.

[HS125]

Very sad indeed, and a huge void in the market to fill. I hope the administrator will allow them to continue trading and that a buyer or some ongoing solution can be found.

A really great group of guys at Avtech, I'm thinking of you all.

[Jetset41]

Dear All,
Having spent most of my adult career at Avtech, I wish to send my best wishes for a speedy recovery and return to normal service to Peter, Roy, Andy, Deene, Jason, Nigel ,and to all the others there.

Still close by if you need any help.

Jetset41

[matt 369]

Fantastic news..Avtech are back in business with a great team of backers and all the crew on board. Wish them all the very best for a new future..

[Steak&Kidney_Pie]

Heard through the grapevine that Paul Crowther has purchased Avtech, whether or not Directfly are in on it or not god knows.....Oh well, probably won't be going there in future!

Any other news of anyone?

[Cape Fear]

Oh yes 247 jet will not be welcome :=

[Steak&Kidney_Pie]

How sad :} Alas we will no longer get maintained at Biggin; I think not!!!

[Phil Brockwell]

A quick trip to Companies House would suggest that Mr Prescott will certainly be maintaining 247's aircraft.

Phil

[matt 369]

Wrong. Suggest you guys do some proper homework and get your facts right before speculating on here. On a positive note Avtech provided a good service and will do again.

[Phil Brockwell]

Draw your own conclusions, 2 companies incorporated this month with Avtech in the company name, both have Directors in the form of current C550 operators, one has a Director who has headed up Avtech for as long as I can remember.

Those are the correct facts - forgive the speculation,

[hawker750]

Matt 369
Quote: On a positive note Avtech provided a good service and will do again.

Gave a good service to whom? £38,000 owed to All Aero, £23,000 to Avionicair, £42,000 to Honeywell , £65,000 to West Star, the list goes on. (Trade creditors of £612K out of a total of £1.3million). Do you think they got good service? It just means that companies that struggle to pay their bills will get hit again with higher charges to compensate for those who do not pay their bills.

If you look at the administrator's statement, they think that of £540,000 book debtors only £199,000 will be realised. That means that the "loyal customers" of Avtec are not prepared to pay £341,000 of the money they owe. As some of the debtors appear to be the "new owners" I think the creditors need to ask some pretty hard questions. Me thinks things do not add up.

[matt 369]

ok guys, whatever the facts, I can tell you Phil, the initial companies house report was not followed up, therefore the mentioned debtors 247 are not on board... Yes Mr Prescott is along with four other investors.

[flynowpaylater]

Was Riaz at Avtech?

[gordon field]

Hawker 850
I agree, bad do when they owe so much to people who have supported them over the years. Seen it all before with factoring invoices, yes it can improve cash flow but at what cost to the industry.

Have you got a link to list of creditors?

[respect1001]

I've heard Avtech failed to pay wages on time last month. The company is struggling. There's talk of a merger with Global flight support the new owners of Bernie's hangar:oh:. Feel for the guy's if it's happening again.

[OutsideCAS]

Anyone know who the key players are at Global (EGKB) ?? notice they're also seeking a chief pilot ATM.....

[respect1001]

The main guy was or is the MD of Amber Aviation.

[dl777jet]

Heard 247jet failed to pay them and is one of the largest debtors.

[Flump38]

How much longer can this joke of an organisation carry on??? Staff over the last 3/4 months not being paid on time or at all. Staff now taking them to court for their wages.
Who is the T*T Mike Unwin, where did he come from, he know's nothing about aviation or how to run a company/finances the man is a clown so is his poison dwarf side kick.
The end is looking nigh again, no money very few experienced staff left it cant go on.:}:mad::ugh:

[Dodo56]

FWIW, when a company can't pay its bills the main reason is often that it has itself not been paid by its own customers. Knocking the management never goes out of fashion but is rarely the main cause of ills.

Something the "loyal customers" may care to reflect on, as has been aptly commented above.

[Phil Brockwell]

Dodo,

I would consider it a fundamental role of the Management to manage it's cashflow and exposure to bad debt.

Phil

[flynowpaylater]

Perhaps there are good reasons why customers don't pay.
Perhaps they feel that the invoices don't reflect the work scope carried out. Perhaps the spares have been over priced, or maybe too many man hours put against a particular job....get the picture? :ugh:

[Flump38]

Customers have been paying bills, money then not going to staff wages!!! where is it going????:ugh:

Management couldnt manage a P**S up in a brewery even with an instruction manual:ok:

[flynowpaylater]

Flump - Where do you think it's gone?

[fazerone]

There is nothing so sad as a company in decline, it may be a case of a "new company" experiencing teething problems in a turbulent financial climate or p*ss poor mangement capablities, time will tell.

[merlinxx]

I'm with Phil on this, plus previous defaulters, we know who they are:ugh: