Eurotunnel to file for Chapter 11
13-07-2006, 16:48
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#1
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Karateka
Join Date: Dec 2003
Age: 33
Posts: 7,098
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Eurotunnel to file for Chapter 11
Link: http://www.bloomberg.com/apps/news?p...c9ZnI&refer=uk
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Originally Posted by Bloomberg
Eurotunnel SA, operator of the rail link between the U.K. and France, will pursue bankruptcy protection after talks to restructure 6.2 billion pounds ($11.4 billon) of debt collapsed.
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Hope this affords them some time to sort out their problems. Their chairman is quoted elsewhere as saying "If we cannot present a plan to shareholders before end-September at the latest, then the end of the story is easy to write,"
It would be a shame to see Eurotunnel have to go into liquidation if they fail to resolve things. I quite like using the chunnel.
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Quidquid latine dictum sit, altum sonatur.
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13-07-2006, 16:59
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#2
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Cable Forum Team
Join Date: Jun 2003
Age: 44
Posts: 11,565
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Re: Eurotunnel to file for Chapter 11
The reality is that while they owe that level of money, however they "restructure" - they've tried and done so so many times before - they will always be burdened and vulnerable.
Bankruptcy would in fact be the better option. A new package could tehn be created at totally affordable levels, by new management/ investors, that could make a go of it.
It's a bit like the cable cos. Bottom line it cost so much to build that it could never make a profit when haveing to keep prices pegged against those who built their infrastructure when labout costs didn't matter.
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13-07-2006, 17:00
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#3
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"Why I oughta..."
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Re: Eurotunnel to file for Chapter 11
Talk about pouring your money down a hole...
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13-07-2006, 17:02
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#4
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-Disturbing Thoughts-
Join Date: Sep 2005
Location: Salford
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Re: Eurotunnel to file for Chapter 11
Quote:
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Originally Posted by TheNorm
Talk about pouring your money down a hole...
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There's always light at the end of the chunnel 
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Last edited by Enuff; 13-07-2006 at 17:10.
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13-07-2006, 17:03
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#5
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"Why I oughta..."
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Re: Eurotunnel to file for Chapter 11
What - the French?
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13-07-2006, 17:09
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#6
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Karateka
Join Date: Dec 2003
Age: 33
Posts: 7,098
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Re: Eurotunnel to file for Chapter 11
Quote:
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Originally Posted by Dodger444
There's always light at the end of the tunnel
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Yeah, but it's a train coming in the other direction at 125MPH!?! 
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Quidquid latine dictum sit, altum sonatur.
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13-07-2006, 18:21
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#7
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cf.mega poster
Join Date: Nov 2004
Posts: 7,736
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Re: Eurotunnel to file for Chapter 11
Is it on fire with riots amock?
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13-07-2006, 18:53
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#8
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aka Sensei Jitsu
Join Date: Jun 2003
Location: Derby / Stafford
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Re: Eurotunnel to file for Chapter 11
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Originally Posted by Gareth
Yeah, but it's a train coming in the other direction at 125MPH!?! |
not for much longer 
on a more serious note, would this also see the end of eurostar aswell?
how about a virgin buyout, rename it "the virgin tunnel"
Last edited by dd2k; 13-07-2006 at 19:00.
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13-07-2006, 18:54
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#9
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Rather fruity
Join Date: Jun 2003
Posts: 6,042
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Re: Eurotunnel to file for Chapter 11
Quote:
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Originally Posted by Gareth
Yeah, but it's a train coming in the other direction at 125MPH!?! |
180!!!
http://en.wikipedia.org/wiki/Eurostar#Rolling_stock |
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13-07-2006, 18:55
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#10
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Cable Forum Team
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Re: Eurotunnel to file for Chapter 11
Well it worked for ntl
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13-07-2006, 19:43
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#11
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umuntu ngumuntu ngabantu
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Re: Eurotunnel to file for Chapter 11
Quote:
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Originally Posted by TheNorm
What - the French?
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Yes, setting sheep on fire 
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