Tweedy Group - The Aftermath

Ledger

Well yes i realise your right but may i just say these are not private deals these are deals available to all and this info is more or less known to all in the industry.

giles lynchwood

AdMMM wrote: »

Can I suggest that you'd keep such information to yourself. I doubt that the Tweedy Group (or any other business) would want their individual, private and very sensitive deals being discussed here.

May i suggest when the banks,creditor's and Kevin Hughes matters are over and done with,this may well be the least private and sensitive piece of information regarding the TG:eek:

blackstufflad

Well it looks like the game is up now. As published on wlr website the banks, yes banks not bank are sending in the recievers to all venues , this was confirmed by Mr t himself, although all venues to remain open up until buyer found etc. Will be some fall out from this eventually , but if buyer or buyers found it might liven up some of these places and competition in this market is what is needed to give value for money .

goat2

blackstufflad wrote: »

Well it looks like the game is up now. As published on wlr website the banks, yes banks not bank are sending in the recievers to all venues , this was confirmed by Mr t himself, although all venues to remain open up until buyer found etc. Will be some fall out from this eventually , but if buyer or buyers found it might liven up some of these places and competition in this market is what is needed to give value for money .

i do hope it stay open and all the staff keep their positions, it is a pity, hopefully other enthusieastic people take over, good luck to them

dayshah

I hope as many jobs as possible can be saved. However with every crisis is an opportunity.

With the upcoming Viking Triangle and Crystal projects hopefully there will be more tourists coming that can help sustain things during the summer, and then the tall ships in 2011.

Personally I think it was bad town planning to have so much night life in one small area. I wonder what could be put on one of the corners? A restaurant, a shop, anything else? Can Waterford sustain Rubys, Masons and Oxygen on one corner?

I think if something genuinely different is offered people will walk there, as they do to the Forum. I'd like a nightclub for people in there late 20s with mellow music, loud enough to enjoy, but quite enough so I can use my devastating charm to chat up the ladies, rather than shout in their ears. No Budweiser would be sold. (Maybe something like a nightclub version of Downses, but with new furniture).

Hopefully someone will be the venues fairly cheap, and then it will be profitable to reduce prices and bring in crowds. I don't like the idea of drinking at home.

Ledger

This really is a sad day for the area, the industry and the jobs which TG supported. This once great monument of the city and nightclub scene crumbling before our eyes all because of its director's blind stupidity in his business decisions. I see on the wlr website that he finally admitted to what we all already knew, which is it was his acquisition of muldoons, 9.5m euro spent on a premisis which probabaly needed nearly as much for a badly needed renovation, that probabaly cost him the company. Please god let the sales go thru without hitches and let the new owners be considerate when thinking about the staff. I never thought i would say this and regret having to say this but, Bob Tweedy, HOW DARE YOU put so many jobs and service businesses (such as my family's) in jepordy with your, again, BLIND STUPIDITY!

CantGetNoSleep

AdMMM wrote: »

Can I suggest that you'd keep such information to yourself. I doubt that the Tweedy Group (or any other business) would want their individual, private and very sensitive deals being discussed here.

The Tweedy Group are royally fcuked so I don't think that matters

Musicman2000

dayshah wrote: »

I hope as many jobs as possible can be saved. However with every crisis is an opportunity.

With the upcoming Viking Triangle and Crystal projects hopefully there will be more tourists coming that can help sustain things during the summer, and then the tall ships in 2011.

Personally I think it was bad town planning to have so much night life in one small area. I wonder what could be put on one of the corners? A restaurant, a shop, anything else? Can Waterford sustain Rubys, Masons and Oxygen on one corner?

I think if something genuinely different is offered people will walk there, as they do to the Forum. I'd like a nightclub for people in there late 20s with mellow music, loud enough to enjoy, but quite enough so I can use my devastating charm to chat up the ladies, rather than shout in their ears. No Budweiser would be sold. (Maybe something like a nightclub version of Downses, but with new furniture).

Hopefully someone will be the venues fairly cheap, and then it will be profitable to reduce prices and bring in crowds. I don't like the idea of drinking at home.

Not a hope an over 20's club, would not work simple as , the proof is allready there, It was tried in rubys room 2 if thats what its called, and didnt last, when Harveys opened first it was tried and that went belly up, The clubs and dicsco bars that are their at the moment cant get the crowds in, but its down to drink being to expensive as well.

nkay1985

So is each venue now for sale seperately and is there any talk of interested buyers? How are staff set for the immediate future while buyers are sought.

dayshah

Musicman2000 wrote: »

Not a hope an over 20's club, would not work simple as , the proof is allready there, It was tried in rubys room 2 if thats what its called, and didnt last, when Harveys opened first it was tried and that went belly up, The clubs and dicsco bars that are their at the moment cant get the crowds in, but its down to drink being to expensive as well.

I suppose I'm just too old.

Partizan

Ledger wrote: »

This really is a sad day for the area, the industry and the jobs which TG supported. This once great monument of the city and nightclub scene crumbling before our eyes all because of its director's blind stupidity in his business decisions. I see on the wlr website that he finally admitted to what we all already knew, which is it was his acquisition of muldoons, 9.5m euro spent on a premisis which probabaly needed nearly as much for a badly needed renovation, that probabaly cost him the company. Please god let the sales go thru without hitches and let the new owners be considerate when thinking about the staff. I never thought i would say this and regret having to say this but, Bob Tweedy, HOW DARE YOU put so many jobs and service businesses (such as my family's) in jepordy with your, again, BLIND STUPIDITY!

It was blind greed that has got Bob in the situation that he finds himself today. He tried to act the big man and in the process bit off more than he could chew. Now nearly 200 jobs are in the balance. It was noticeable to look back over the thread to see Tweedy's supporters rant and rave about how great a guy he was. Well its because of his stupidity and greed that he now hasn't an arse in his trousers. The breaking up of his company and the banks taking over the venues could be the best thing that has happened to the Waterford nightlife in years. It badly needed a shakeup and with the venues being taken over by the banks to be sold as a going concern could allow for private investors to come in and buy them up individually. Some of the venues probably could well close with the loss of jobs, thats inevitable but at the end of the day something good will come out of it, a good proportion of the jobs will be saved and life will breath back into our stagnant nightful.

There is light at the end of the tunnel. The new owners if they come will be incentivised to make their going concerns work and that could see healthy competition in place, i.e. better choice and variation of venues and cheaper drink.

Ledger

Does anyone disagree with this:

• Rubys/Woodman

Very viable, and with a little investment for renovations could posibly do better.
No matter what people say, they cannot deny the fact that it is one of the most, if not the most, successful nightclubs/music venues in the city.
Should be bought up relatively quick.

• Masons

Does not have the best trade in the world, but does a good trade all the same.
Thanks to management (i suppose i shouldn't name names) it has finally found its target/niche in the sports bar/super pub slot, very modern premesis.
No renovation needed (except for the STILL broken down lift ).
Should be bought up relatively easily providing no problems.

• Oskars

(Before anybody says it yes i know it is leased out, but it was owned by TG therefore it will also be sold off).
This is again another venue which does not need any renovations.
Has a great food trade and good drinking trade (for the area it's in).
Very successful Off Licence, (will never understand why Bob never opened more O/L's considering the great trade he done in this one), up until recently was the only O/L in that whole area until Londis opened one about 6 months ago. Still done very good trade.
Should have little worry when it's put on the market.

• Muldoons/Oxygen

(This does not look good):(
Hasn't done anything like a good trade in a loooooong looooong time, has been empty many nights, even wednesday night when students come out to play.
Very old premesis in dier need of a seriously extensive renovation would take a long time before profit would be made imho.
We have seen the major dive Bob took when he bought it and unfortunately i think we will see it closed up for a long time to come.


Critisism, as always, is apreciated taken,

Ledger

wellbutty

Excellent assessment Ledger, couldn't agree more

Psychedelic

What's the story with Ten and Electric Avenue, I think they are owned by the Tweedy Group too?

giles lynchwood

T.G own the woodman.Ruby's club and lounge premises are leased using woodman license,as you would be buying the business and not the premises any money paid would in fact be key money plus drop in trade etc etc make this venue the least likely to survive.
Muldoons/poxygen is worth approx 3 mil at tops.
IMHO mason's is the one that will shine with a new owner,preferably out of town buyer.Masons is a new building,great all round bar,live venue and late night all it need's is someone with a small bit of kop on to buy it and last because of the present economic climate in ireland could be bought at a good price.
"Go down and tell them,their entitled to a job and fcuk all else"bob to manager shortly after he opened preacher's.Female staff had voiced their concern about safety and requested he supply transport home in the early hours.
IT'S A LONG ROAD WITHOUT ANY TURN'S.
Bye Bob

Ledger

giles lynchwood wrote: »

T.G own the woodman.Ruby's club and lounge premises are leased using woodman license,as you would be buying the business and not the premises any money paid would in fact be key money plus drop in trade etc etc make this venue the least likely to survive.
Muldoons/poxygen is worth approx 3 mil at tops.
IMHO mason's is the one that will shine with a new owner,preferably out of town buyer.Masons is a new building,great all round bar,live venue and late night all it need's is someone with a small bit of kop on to buy it and last because of the present economic climate in ireland could be bought at a good price.
"Go down and tell them,their entitled to a job and fcuk all else"bob to manager shortly after he opened preacher's.Female staff had voiced their concern about safety and requested he supply transport home in the early hours.
IT'S A LONG ROAD WITHOUT ANY TURN'S.
Bye Bob

I agree with ya except for rubys/woodman they are doing a good trade, always have even thru all this uncertainty and hardship.

I have a habbit of disclosing semi-sensitive info, as i'm sure any long time subscriber to this thread knows, so all i will say is going on their deliveries and empties coming back, they do a very good trade, granted not AS good as they did say five years ago, but this is because BOB never bothered his a*se putting too much money in, because it was always going to do a good trade.

This is why it is doing a good trade and not a great trade.

Btw, on the matter of ten/electric avenue, to my knowledge, TG owns this premesis but is leased out, but unfortunately the people leasing it do not deal with the company my family is contracted to, so i do not know what kind of a trade they do, in fact i didnt even know it was still open until somebody on this thread mentioned it.


Ledger

Yes Boss

It was 'ego' that bought Muldoon's.

blackstufflad

In mr t's statement on wlr website he was very sorry about the whole scenario, and blamed the purchase of muldoons . But really that is all very well to say but will he sell all he's assets to pay the creditors ??? Or are the only creditors the banks ; or are there other companies that are owed money ? Of course only time will tell ,but he may be able to re invest through a third party and buy some of the venues back. He may be backed by Big bob senior. As I say only time will tell. In the mean time mr t will probably have time to practice a bit of yoga and holistic healing .

giles lynchwood

Ledger i have no doubt in what you say,but my point is ,with the present economic climate,with two other venues across the road for sale,finding a buyer for ruby's/lounge business who is then prepaired to start paying rent on building will be close to impossable.Woodman bar alone is worth about 1.75 mil and would be very hard work just to break even.
Lynchwood

Ledger

yea i see your angle alright giles i dunno i think it will be bought fairly quick but sure only time will tell i suppose.

dayshah

giles lynchwood wrote: »

Ledger i have no doubt in what you say,but my point is ,with the present economic climate,with two other venues across the road for sale,finding a buyer for ruby's/lounge business who is then prepaired to start paying rent on building will be close to impossable.Woodman bar alone is worth about 1.75 mil and would be very hard work just to break even.
Lynchwood

The value of a business depends on its profitability. So if the lease on the Woodman is high, it should fall to a level that would allow profitability.

So Ruby's/Woodman could survive if the new owner renegotiates the lease or offers to buy it outright. It is more complicated though than for the other venues.

Ledger

Afaik the owner of the building will not sell, bob tried to buy many times but no joy.

merlante

giles lynchwood wrote: »

Ledger i have no doubt in what you say,but my point is ,with the present economic climate,with two other venues across the road for sale,finding a buyer for ruby's/lounge business who is then prepaired to start paying rent on building will be close to impossable.Woodman bar alone is worth about 1.75 mil and would be very hard work just to break even.
Lynchwood

Sure you'd probably get the lot for the same price as a few places in Dublin. As long as they are advertised nationally and internationally there's every chance that buyers will be found. The only thing that matters is if they are profitable or not. Having said that, it would be better if they were not all sold off at once.

MickClince12118

not bothered by this to be honest, as it will see people flocking to different pubs, ones which play good music and at a bearable level unlike some of the pubs/clubs mentioned. I go to twister vicks and its set up as well as any pub u can hear the person you're talking to and you can here some good tunes not just the latest by lady gaga and the likes.

abouttobebanned

MickClince12118 wrote: »

not bothered by this to be honest, as it will see people flocking to different pubs, ones which play good music and at a bearable level unlike some of the pubs/clubs mentioned. I go to twister vicks and its set up as well as any pub u can hear the person you're talking to and you can here some good tunes not just the latest by lady gaga and the likes.

You see what you're doing there is comparing a bar, at a quiet time, to a busy bar or night club. Twister Vics is a grand pub, but when it's busy and the bands are playing, you certainly cannot hear the person you're talking to. On a tuesday night though when they're just playing the jukebox...you certainly can hear the conversation, but that's true of ever other bar in waterford.

MickClince12118

not really ive seen propper rock bands in there and been able to talk away quiet easily to people, but a gig is excusable anyway for some noise unlike a jukebox blaring away in other pubs

blackstufflad

Now that the recievers are in and running the various business's , has anyone noticed any difference in the way they are run. Are there still live bands and the same number of staff or has there been changes ?? Is mr t still involved with the day to day running ? Or has he been pushed out?

The various suppliers , of drinks and other products must be getting paid , otherwise the venues would have closed.

Adyx

blackstufflad wrote: »

Now that the recievers are in and running the various business's , has anyone noticed any difference in the way they are run. Are there still live bands and the same number of staff or has there been changes ?? Is mr t still involved with the day to day running ? Or has he been pushed out?

The various suppliers , of drinks and other products must be getting paid , otherwise the venues would have closed.

There have been a few mainly minor changes. There has been a change in DJ in Oxygen and it's partially back open on Fridays (very successfully last Friday actually). Muldoons and Oxygen are both in the process of getting a lick of paint and hopefully the floor in Muldoons will be looked at too.

Ruby Lounge still has bands 7 nights a week and nobody has been let go afaik. The Tweedy Group has nothing to do with the businesses now.

AdMMM

What's this I see on Facebook about Panic, an Indie club starting in Oxegen? Any insight in what to expect Adyx?

nkay1985

Adyx wrote: »

There have been a few mainly minor changes. There has been a change in DJ in Oxygen and it's partially back open on Fridays (very successfully last Friday actually). Muldoons and Oxygen are both in the process of getting a lick of paint and hopefully the floor in Muldoons will be looked at too.

Ruby Lounge still has bands 7 nights a week and nobody has been let go afaik. The Tweedy Group has nothing to do with the businesses now.

All of that sounds like positive changes. Good to see Muldoons finally getting the lick of paint it's been begging for for years. I think Tweedy could have learned a few things from this person!

AdMMM wrote: »

What's this I see on Facebook about Panic, an Indie club starting in Oxegen? Any insight in what to expect Adyx?

If this is true, I'd see it as another hugely positive change. A club that's become quite unpopular changing it up and offering something different. If done right, it could give people an alternative to The Forum if they want to be in around the centre of town.