mick is one of the most prolific commenters on the blog here, and whilst his idiosyncratic style is not to all tastes, I welcome his involvement.
Perhaps following the suggestion of one of the commenters last night that mick should write a blog, he has sent me a post for the site, which collates some of last evening’s comments about the seemingly remarkable Ibrox food bill.
I have done a wee bit of editing, which I hope mick does not mind.
I leave the floor to mick! Take it away!
Following a online debate about the Duff and Phelps creditors’ report on the 10th of July it has come to light there is appears to be what could be a serious misdemeanour, or at best commercial misjudgement, with the catering accounts.
Food and beverage sales for the period since administration started = £300k approximately.
Food and beverage cost £900k approximately.
This is over a period of five months. This is from a club run under administration. This includes a time when everyone was off on holiday leave.
Over 12 months this leads close to £1.3million JUST IN FOOD AND BEVERAGES.
This to me looks like a bit of skulduggery. (Or some very fine dining going on!)
Actual figures from report are £388,973 Food & Beverages Sales under Income column then £991,155 Catering/Food and Beverage under Expenditure column.
My interpretation (without the detail or a degree in accountancy)would be that even allowing for a 0% profit on sales, the club spent, in just a 5 month period that includes off season when most employees would be gone, £602,182 on food & beverage over and above what they sold (to fans on match days).
I assume this expenditure must be on food for players and other employees. And over a 12-month period that would be a running cost of £1,445,238.
Of course, there may be a good explanation for this eg the pies were being baked for £3 each but sold for only £1 each.
Under such circumstances D&P would probably argue this would be in the best interest of creditors as it keep the pie shop open.
While we can joke about “who ate all the pies” this seems a remarkable loss caused to creditors under the rule of the administrators.
Maybe Mr Clark or Mr Whitehouse can explain, “Who ate all the pies?”
Posted by mick