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General => General discussion => Topic started by: Martz on 07 February 2007, 09:56

Title: BBS Gone bust?
Post by: Martz on 07 February 2007, 09:56

Read it on another site, is it true?

Title: Re: BBS Gone bust?
Post by: jv on 07 February 2007, 10:01

Hard to believe that, where's the story?

Title: Re: BBS Gone bust?
Post by: Martz on 07 February 2007, 10:12

http://finanzen.net/news/news_detail.asp?NewsNr=482151

Translated -

BBS power automotive engineering places bankruptcy application 06.02.2007 16:37:00 Schiltach (aktiencheck. de CORP.) - the BBS power automotive engineering CORP. (ISIN DE0005196232/ WKN 519623), a bidder of high-value easy metal wheels, reported on Tuesday that it placed bankruptcy application on the 2 February 2007.  Although to the moment of the proposal position yet outlook rich negotiations were led to the restoration of the solvency of the business, reason was for the proposal position that the company had run into earnest liquidity difficulties and the end of the proposal time period after 92 sec.  2 of the shares law before the flow stood. 

Finally a solution was outlined for the restoration of the solvency of the business, that should be carried by the Großkunden of the business.  The promises of the Großkunden to allocate the required liquidity through larger before maturity-payments, were given also.  The conversion of the draft failed however in the night to the 6 February 2007 due to the resistance of one of the involved banks although the company had cleared the financing banks to the purpose of the continuation of the financing securities.  An Auffanglösung under Ausklammerung of the relevant bank realization in the course of the current day no longer. 

The share of BBS power automotive engineering notes in Frankfurt presently unchanged in 9.00 Euros.  (06.02.2007/ac/n/nw)

Title: Re: BBS Gone bust?
Post by: [han] on 08 February 2007, 08:12

i read that too martz.   :undecided:

Title: Re: BBS Gone bust?
Post by: tom26 on 08 February 2007, 10:36

wish i understood it.

Title: Re: BBS Gone bust?
Post by: Organisys on 08 February 2007, 10:42

Lets hope VAG group buy them!

Title: Re: BBS Gone bust?
Post by: Martz on 08 February 2007, 10:42

Quote from: tom26 on 08 February 2007, 10:36

wish i understood it.

Erm, I translated it Tom..............................

Title: Re: BBS Gone bust?
Post by: Mr Blue on 08 February 2007, 11:06

they stopped making RS splits time ago so who cares :laugh:

Title: Re: BBS Gone bust?
Post by: tom26 on 08 February 2007, 17:32

ok. so what the hell is grosskunden?? And i wouldn't know an Auffanglusung from the lesser spotted ausklammerung if it came up and bit me on the ass!

Title: Re: BBS Gone bust?
Post by: jase555 on 08 February 2007, 17:35

should bump the price of a set of 2nd hand rims. good news for us lads who got some.   :grin:

Title: Re: BBS Gone bust?
Post by: clipperjay on 10 February 2007, 21:03

The whole story is that the under writers or financial backers pulled there stake of the company leaving it massively in debt and ready for insolvency, but thatÂ’s not the full story apparently there was always a secondary backer waiting to finance BBS. This is the shady part as the company was nearly bankrupt i.e. calling in all its debts from the underwriters did manage to lower the value of the company, which could mean that the secondary backers knew this, and got a share of the company cheap!
(DISCLAIMER) :wink:
But this all just opinions and not based upon any sure fired facts, but what I see the company is still a going concern :cool:   

Title: Re: BBS Gone bust?
Post by: alexluxurywheels on 11 February 2007, 11:04

Someone will take on BBS, cheap  :grin: