Pontins on the verge of going bust

PONTIN'S, one of the most established holiday companies across the UK, faces a bleak outlook after the administrators were appointed last Friday.

TROUBLE: Tough times for Pontin's

The news will come as a shock to many, especially as only two years ago, 2,000 new jobs were announced by the holiday firm across its five holiday-owned parks.  Around 850 staff members are currently employed by the company and it is believed that none of these staff have been made redundant as yet.  Pontin's owns five holiday parks in the UK, varying from Prestayn Sands in Wales to Brean Sands in Somerset.

KPMG have been the administrator that has appointed for the company, which has been a seaside tradition with many holidaymakers since World War II.  Three joint administrators have been appointed and they admit that all guest reservations that have already made shouldn’t been affected by this move.

An administrator partner for KPMG told Sky of the move into administration and is still confident of positive future; "Pontin's is an iconic British brand which forms the backdrop to thousands of treasured family holiday memories," "It has unfortunately struggled in the current economic environment but, with some support from new management, we are optimistic that it will be part of thousands of family memories in the years to come."

The administrators may be positive of a recovery, but I fear for Pontin's, it certainly faces a very difficult short-term lookout. 

Prosecutions over Potters Bar rail tragedy

NETWORK RAIL and former maintenance company Jarvis Rail faced unlimited fines over the Potters Bar rail crash.  The tragedy, which occurred in May 2002, left seven people dead and many more seriously injured.  Today, an enquiry into the disaster ruled that the two companies in the dock were found guilty of breaches in Health & Safety Law regulations.  The ORR (Office of Rail Regulation) also said that it will be launching criminal proceedings against Jarvis Rail and Network Rail.

The verdict will please the victims of the dead and the TSSA which represents the union of people in regards to transport and travel.  An inquest was held earlier this year, which came back with seven counts of accidental death, which angered families.  The director of rail safety in the ORR Ian Prosser said; “there is enough evidence in the public interest,” to prosecute Network Rail and Jarvis under health and safety regulations.

DERAILED: The aftermath of the train following the crash

A previous health and safety executive report into the tragedy blamed negligent maintenance for the point’s failure which led to the train being derailed on May 10 2002.  Six people on the train and one passenger at the station were killed in the crash.  Railtrack was in control of the British rail system, before Network Rail took over the running in the autumn of 2002.  Since the incident, Network Rail has carried out the required safety recommendations made by the crash report. 

In response to the charges today, Network Rail added this in a statement; “The railway today is almost unrecognisable since the days of Railtrack and the Potters Bar tragedy of 2002.”  Jarvis Rail, the contractor who was responsible for maintenance on the Potters Bar network went into administration earlier this year.   

Portsmouth FC - The Lesser of Two Evils

Yesterday’s news conformation was no real surprise to many in the football game, but it was a sad day nonetheless.  Portsmouth made unwanted history, by becoming the first Premiership club to enter administration, since its inception into the English game in 1992.

A 9-point deduction has followed, meaning a mathematical miracle is now needed to avoid relegation from the FA Barclays Premiership, despite today’s 2-1 morale-boosting win at fellow relegation stragglers, Burnley.  However, it’s the best move possible, because it means that the club will probably be able to stay in business, which looked increasingly unlikely just a few weeks earlier. 

Portsmouth’s downfall from grace is almost unheard of, but it is a sorry state of affairs.  Less than two years ago, Pompey defeated Cardiff City 1-0 to win the FA Cup.  With it, came the prospect of European football and star playing arriving at the club, such as Peter Crouch, Niko Kranjcar and Jermain Defoe.  However, spiralling players wages began the financial mess that the club got themselves into.

Manager Harry Redknapp left for Tottenham in autumn 2008 and in a desperate attempt to balance the books; over £100m was raised in selling players, such as Crouch, Defoe, Lassana Diarra and Glen Johnson.  So, how come the club got themselves into £80million in debt, it’s such a startling figure.  Basically, it was borrowing money it simply couldn’t pay-back, such as to Premiership clubs for players, TV rights money from BSkyB, work on the stadium from local businesses, plus pay-outs to former managers, Tony Adams and Paul Hart.  Former owner, Alexander Gaydamak is also owned money in excess of £30million pounds.

I feel really sorry for the players that remain at Fratton Park, the likes of international stars such as David James, Anthony Vanden Borre and Nadir Belhadj, and former Champions League winners, Steve Finnan and Kanu.  Also, the manager Avram Grant, who loves the club so much and like at Chelsea, is in a precarious and imperative position through no fault of his own and finally, the Pompey supporters, who have been through so much pain, trauma and heartache over the last 18 months.  Portsmouth FC is a community club and bankruptcy would have ripped the heart out of the city, let alone the football community.  However, despite it being a sorry scenario, Portsmouth has got themselves into this mess themselves, so there can be little sympathy, especially from the rest of the FA Premier League.

Five owners in a season is nothing short of absolutely ridiculous, the lack of stability is comical, some of the owners don’t even know a thing about football.  To be honest, Bart Simpson could have done a better job than these Arabian men, who had no money in the first place, then took the club further into debt.  Chief executive Peter Storrie, who had such a decent reputation, has lost all his creditability, for not stepping in to sort out the fracas.  He finally stepped down yesterday and about time too, the fans who confronted him at the entrance of the ground yesterday made their point well and truly clear.  He is nothing short of a waste of space.   The FA and the FA Premier League also need to shoulder some of the responsibility.  They have refused to help Pompey in their hour of need, especially with the TV money rights, and more could have been done to prevent this scenario.

Can Portsmouth rebuild?  Yes, probably they will, but it won’t be until long-term.  In the short-term, more must be done by everyone in the game to prevent this becoming a normal situation.  It may be the lesser of two evils – administration or liquidation, but whatever the scenario, the fans and players of Portsmouth FC have lost out, in the worst possible fashion.  Togetherness and grit is needed by everyone for the South Coast club to return to their glory days.