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Post by gullible on May 20, 2019 11:22:14 GMT
No free tickets for anyone. Apparently Lendy are concentrating on recoveries rather than new business and are going to have a very small presence at Cowes. However for contractual reasons they are going to have to pay a pretty penny towards the cost of hosting the event. Money obviously not well spent
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iRobot
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Post by iRobot on May 20, 2019 11:41:36 GMT
No free tickets for anyone. Apparently Lendy are concentrating on recoveries rather than new business and are going to have a very small presence at Cowes. However for contractual reasons they are going to have to pay a pretty penny towards the cost of hosting the event. Money obviously not well spent 2019 dates: 10th to 17th Aug 2018 dates: 4th to 11th Aug Last year, Lendy issued an open invitation (but with limited places available) at the end of June (29th). We are still some 6 weeks away from a similar lead-in period. We'll see if a similar invite is issued. Typically, top-tier sponsors make payment upfront when arranging multi-year deals which entitles them to use the event and their association with it as advertising throughout the entire period (and allows the event organisers to proceed with funding assured). There will still be some 'on-the-day' costs for this year's event. No idea how much, but will be interesting to compare levels of pictures / videos / social media content of this year's activities with those of previous years.
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GeorgeT
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Post by GeorgeT on May 24, 2019 22:21:03 GMT
With Lendy going into administration today I wonder what this means for Lendy Cowes week in August.
Presumably a company in administration can't have its name all over a big event or can it.
And presumably quite a lot of money will have been paid upfront for sponsorship of this event, which appeared to be a vanity project for LB.
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sydb
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Post by sydb on May 25, 2019 11:30:08 GMT
With Lendy going into administration today I wonder what this means for Lendy Cowes week in August. Presumably a company in administration can't have its name all over a big event or can it. And presumably quite a lot of money will have been paid upfront for sponsorship of this event, which appeared to be a vanity project for LB. Here is a response from LCW:
As for any effect, it all depends on when Lendy paid/were supposed to pay the sponsorship money. If unpaid, LCW will be claiming money is owed to them under the sponsorship contract. Yet another unknown.
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zccax77
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Post by zccax77 on May 25, 2019 11:34:47 GMT
Fees were paid 3 years in advance by Lendy. Just shows how much hubris LB had back then.
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Monetus
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Post by Monetus on May 25, 2019 15:42:20 GMT
With Lendy going into administration today I wonder what this means for Lendy Cowes week in August. Presumably a company in administration can't have its name all over a big event or can it. And presumably quite a lot of money will have been paid upfront for sponsorship of this event, which appeared to be a vanity project for LB. Here is a response from LCW:
As for any effect, it all depends on when Lendy paid/were supposed to pay the sponsorship money. If unpaid, LCW will be claiming money is owed to them under the sponsorship contract. Yet another unknown.
If LCW happen to be owed any further monies from Lendy for sponsorship they would almost certainly be an unsecured creditor in this administration so they could be joining a pretty large queue.
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Monetus
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Post by Monetus on May 25, 2019 16:08:53 GMT
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greatmarko
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Post by greatmarko on May 25, 2019 23:30:27 GMT
the lendycowesweek.co.uk domain now redirects to cowesweek.co.uk, and they've removed all mention of Lendy from the site
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on May 25, 2019 23:47:04 GMT
the lendycowesweek.co.uk domain now redirects to cowesweek.co.uk, and they've removed all mention of Lendy from the site Let us hope the receivers are as efficient at getting our money 
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sl75
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Post by sl75 on May 27, 2019 7:06:03 GMT
the lendycowesweek.co.uk domain now redirects to cowesweek.co.uk, and they've removed all mention of Lendy from the site Let us hope the receivers are as efficient at getting our money I wonder if the administrators will be able to gain some value by selling the rights under the sponsorship deal to another interested party before the event itself occurs...
The administrators don't yet seem to have updated Lendy's own website [Edit: other than the front page which I almost never visit!]. Presumably the necessary codes to update it were handed over when the administrators were appointed?
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greatmarko
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Post by greatmarko on May 29, 2019 22:03:56 GMT
The administrators don't yet seem to have updated Lendy's own website [Edit: other than the front page which I almost never visit!]. Presumably the necessary codes to update it were handed over when the administrators were appointed?
The LendyWealth website (https://lendywealth.com/) however still has absolutely no mention of Lendy's administration!
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