metalblade
Well-Known Member
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- Sep 6, 2005
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Tarquin you still don't get it, a re-financing package and coverting some of the debt to equity don't really make the sum of £57million owing suddenly go away it just changes who we owe it to. We can't pay debts by taking another loan from Santander, we can't keep borrowing to pay existing debt. Maybe it would be cheaper if we could, at least the interest would not be 4% over the bank rate. Read the bit that outlines how every year we owe £3.4M in interest alone due to McCabe's borrowings and money juggling. Read the comments after the blog apparently Scarborough Holdings who now own Bramall Lane and the Academy are themselves £100m in debt, where will we be if they go under ?