Over the years, this blog has regularly reported on the travails of the E11 BID Co. Ltd. (hereafter BID ONE), a private company that was specially set up in 2007 to run Leytonstone’s Business Improvement District (BID). In some ways, that this has been merited is quite surprising. The financial and operating model that BID ONE initially set out to follow was hardly complicated. As part of th... »
Word reaches me that the E11 BID Co. directors have decided to throw in the towel, and shut their company at Christmas. If true, this is good news, for although the E11 BID Co. claims to have put its disaterous past behind it, there are still enough flaws in its functioning to give grave cause for concern. Well-run companies, for example, submit their accounts on time. But the visitor who looks up... »
According to a document made public at Companies House, reproduced below, the E11 BID Co. is now threatened with being compulsorily struck off and dissolved. This blog has covered the troubled and troubling E11 BID Co. before (see links below). The issue now seems to be that the company missed the deadline for filing its 2014-15 accounts, which was 31 March 2016. It really does seem extraordinary ... »
Some significant new evidence has just emerged about North London Ltd. (NLL). In general terms, NLL continues to intrigue. For here is a private company that was paid hundreds of thousand of pounds by public authorities (including LBWF, some directly, and some routed through the Waltham Forest Business Board’s Waltham Forest Business CIC); handed its directors generous remuneration and other... »
The second argument advanced by the refusniks at court can be summarised as follows. Argument Two: at the 2012 re-ballot, the E11 BID Co. failed to make full disclosure, calling into question the validity of the result 1. What follows is based upon two different pieces of evidence. 2. First, under the terms of the Baseline and Operating contracts that they signed in 2008, LBWF and the E11 BID Co. ... »
Over recent years, the E11 BID Co. has regularly been in the news, mainly for the wrong reasons. The latest, and most unsavoury episode, saw LBWF, operating on behalf of the E11 BID Co., take local Leytonstone businesses to court, gain a successful adjudication, and then call in the bailiffs, with the Waltham Forest Guardian reporting as follows: http://www.guardian-series.co.uk/news/13506732.Bail... »
In several previous posts, I’ve looked in detail at some of the organisations that purport to represent business in the borough, particularly the Waltham Forest Business Board, and North London Ltd. It is fair to say that few of my observations have been very favourable. For example, I’ve never quite got my head around the fact that in the three years immediately after the directors of... »
A little bit out of sequence, but for those who didn’t see it, this story (see ‘Lost in the Forest’, centre column, bottom) is interesting on LBWF and the E11 BID Co., the subject of previous posts. Its from Private Eye no.1388, 20 March-2 April 2015. »
Councils inevitably dispose of unwanted public assets from time to time, and it is always interesting to discover exactly how they do so, and who benefits. The following is a tale of what happens in Waltham Forest, and as might be predicted, it provokes more questions than it answers. On 14 June 2011, the LBWF Cabinet agreed to lease the Argall Avenue car parks to ‘BID’, a fair assumption being ... »
A couple of years ago, I started hearing some very surprising things about Leytonstone’s Business Improvement District (BID) company, the E11 Bid Co.. The allegation, in short, was that the directors of the company had failed to keep proper books and neglected to pay their taxes; run up substantial debts; and as a consequence jeopardised the company’s ‘going concern’ status... »