tierp bankrupt

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Discussion

novanut64

Original Poster:

44 posts

196 months

Thursday 10th October 2013
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shovelheadrob

1,564 posts

186 months

snakehips

250 posts

208 months

Thursday 10th October 2013
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Tet

1,196 posts

219 months

Thursday 10th October 2013
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Yaaay for machine translation. Google claims it says "the situation is only temporary". Microsoft says "the situation is not just temporary". My Swedish isn't good enough to say which is right.

Burndown

732 posts

181 months

Thursday 10th October 2013
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I think to be deemed bankrupt means the issues repaying your creditors are not temporary.

I think that is what the article says but is confused in translation.

Mark13

409 posts

193 months

Friday 11th October 2013
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Guys, this is Rockingham Motor Speedway (In the UK) all over again. Massive developments must be backed with tangible future earnings or they sink. Facilities that evolve from basic beginnings like the Pod have firmer financial foundations and tend to win out.

Seek

1,184 posts

215 months

Friday 11th October 2013
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Tet said:
Yaaay for machine translation. Google claims it says "the situation is only temporary". Microsoft says "the situation is not just temporary". My Swedish isn't good enough to say which is right.
The article refers to the lack of funds not being temporary - therefore bankruptcy and not temporary protection from creditors being instigated.

Burndown

732 posts

181 months

Friday 11th October 2013
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I wonder how the administrators will get as much money back as they can.

Presumably, charge racers and spectators more but keep drag racing at the track. Plus maximise alternative income from concerts and shows etc.

So basically the current business model just with less costs and higher prices.

Turbobird1

443 posts

163 months

Friday 11th October 2013
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imm sure a buyer will be found tierp has been in trouble since day 1 im surprised it took this long to file for bankruptcy ....don't panic

Upatdawn

2,191 posts

163 months

Friday 11th October 2013
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Once the debts have been wiped off the old management/owners car open up again as "Tierp 2014".........and usually ask the old firms creditors for credit

or at least thats how it seems to work in the UK....

MotorPsycho

1,126 posts

226 months

Friday 11th October 2013
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Burndown said:
I wonder how the administrators will get as much money back as they can.

Presumably, charge racers and spectators more but keep drag racing at the track. Plus maximise alternative income from concerts and shows etc.

So basically the current business model just with less costs and higher prices.
Charge more? Have you seen how expensive it is (was) to spectate at Tierp?! My trips to Mantorp including flights were cheaper than entry alone at Tierp hence why I never went, and suspect many other didn't either.

Don't know how racers entry's compared?

Benni

3,639 posts

226 months

Friday 11th October 2013
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A german SE Driver found out that entering for SG was actually cheaper than entry fees & camping for 2 persons,

so he did the correct racer-maths and trailered his blown ´59 Chevy Apache Pickup 1.000 miles for 4 quali runs

and a predictable first-round exit (never hit near the index) and spectated the rest of the weekend.

btt : I hope that the track Returns, want to go there and watch or shoot photos.

ribaric

262 posts

190 months

Sunday 13th October 2013
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On the couple of occasions I've bought the on-line TV service, I was struck by how thin the grandstands were. I asked myself how this was going to be sustainable if my limited sample was an indication as to how things went at the other events. I guess I have my answer.

Is Mantorp still working?

Tet

1,196 posts

219 months

Monday 14th October 2013
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I've commented before on how empty I though the grandstands looked. In part that will be because they're so big and therefore look sparse. But I suspect they still needed to bring in more paying customers to make it viable. The track is still there, but Mantorp Park Events AB went bankrupt a couple of years ago, so I don't know whether they'd be in a position to host an FIA round again.

Burndown

732 posts

181 months

Monday 14th October 2013
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MotorPsycho said:
Burndown said:
I wonder how the administrators will get as much money back as they can.

Presumably, charge racers and spectators more but keep drag racing at the track. Plus maximise alternative income from concerts and shows etc.

So basically the current business model just with less costs and higher prices.
Charge more? Have you seen how expensive it is (was) to spectate at Tierp?! My trips to Mantorp including flights were cheaper than entry alone at Tierp hence why I never went, and suspect many other didn't either.

Don't know how racers entry's compared?
I see your point, that if you reduce entry costs for spectators, you attract more spectators and possibly get greater turn over.

The attendance at most drag racing meetings just comes down to the weather and fuel car attendance. If you look at the Pics from the Scandinavian Internationals at Tierp this year the grandstands are busy, because the weather was good, so the ticket pricing cant be that far off for Sweden.

Every track takes a risk with the weather but in Tierps case the issue sounds like it just comes down to the debt. Without being so heavily leveraged there may well be a sustainable business, so hopefully any buyer can negotiate good terms with the creditors and keep the show on the road.


Upatdawn

2,191 posts

163 months

Saturday 19th October 2013
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Burndown said:
I wonder how the administrators will get as much money back as they can.
They dont have to, 1p in the pound is good, and they may decide not to run events (its not their area of expertise), just flog it off ASAP

ribaric

262 posts

190 months

Sunday 20th October 2013
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Are there enough alternative suppliers to replace the ones they will have failed to pay?

MartynJones

45 posts

160 months

Monday 21st October 2013
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I went to two events at Tierp this year (one advantage of working in Stockholm at present). At both events, one national, one international, there was a substantial difference in attendance over the weekend. It appears the Swedes prefer to watch qualifying, particularly if the weather forecast is not wonderful for race day. So photos of the Saturday crowds look decent, and race day crowds were much sparser. Could be the high price for camping, or the economy meaning that people saved money by missing the most expensive day...

Upatdawn

2,191 posts

163 months

Monday 21st October 2013
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ribaric said:
Are there enough alternative suppliers to replace the ones they will have failed to pay?
always