RE: Mike197219 Sep 2020 09:33
@Normandy if you sell of all the land and GLS, RMG would probably receive between 5-6 billion in the bank but it would have no capacity to deliver the mail, pay its outstanding creditors and the 100,000 plus staff and would have to go into administration or be liquidated.
Along with the 5-6 billion it would receive for its assets, RMG would have to pay back bank loans of £1.8 billion, any other preferred creditors and the redundancy costs for 100,000 plus staff. The company actually more liabilities than assets presently and these figures are well disguised in the balance sheet by the auditors.
UKPIL is trying to trade it's way out of its current deficit, q