Johnston Press - UKs bigest fuckup.

[spygirl]

No annoucement yet. A surprise.

JP up 20%.

Most be some genius person who've worked out its a fantastic invesment.

Or a dunch of retial BB investors who have not grasped that the equity is worthless.

[sarahbell]

My little sis works for the local paper and is being made redudant. 

[sancho panza]

14 hours ago, spygirl said:

No annoucement yet. A surprise.

JP up 20%.

Most be some genius person who've worked out its a fantastic invesment.

Or a dunch of retial BB investors who have not grasped that the equity is worthless.

It's the dip buyers ressurection moment.

[spygirl]

On 12/11/2018 at 09:29, spygirl said:

No annoucement yet. A surprise.

JP up 20%.

Most be some genius person who've worked out its a fantastic invesment.

Or a dunch of retial BB investors who have not grasped that the equity is worthless.

5 days late.

https://stv.tv/news/scotland/1432936-publisher-johnston-press-going-in-to-administration/

Well, more like 5 years too late. Creditors took control.

'Its not been an easy decision...'

Oh fuck off.

[dgul]

BBC coverage is great:

https://www.bbc.co.uk/news/business-46243622

Quote

Johnston Press, publisher of the 'i', The Scotsman and the Yorkshire Post, has detailed a rescue plan aimed at ensuring its survival.

Oh!  Rescue plan!  That's great.  So, what are the details of this rescue plan?

Quote

It now plans to file for administration and says the firm's assets will then immediately be bought by its lenders.

Oh.  That's an odd rescue plan -- sounds exactly like the end to me.

[spygirl]

9 hours ago, dgul said:

BBC coverage is great:

https://www.bbc.co.uk/news/business-46243622

Oh!  Rescue plan!  That's great.  So, what are the details of this rescue plan?

Oh.  That's an odd rescue plan -- sounds exactly like the end to me.

I wonder if a dim light ever gioes on at the beeb.

JP are a media company. the So-Called BBC is a media compnay.

JP has hit a brick of costs over income and really fucked up. ~80% of JP staff have lost their jobs.

I think Ill ask for more money as Im a woman at the So-Called BBC.

20 years ago, the So-Called BBC employed a small percentage of UK media/journos, paying them middling salaries.

Today, BBC employs well over 60^ of UK journos, paying them lavishly compared to the rest of the industry.

 

[spygirl]

On 11/11/2018 at 17:02, spygirl said:

Oh its got assets - shoukd see the woman who does thd local small ads...

However its dwarfed by liabilities.

Whos first?

JP, GE or Debenhams.

Idiot fucking retail punters.

Catching falling knives.

 

Eyes down.

I dont think DEB will make Xmas.

Its got 4 weeks.

 

[One percent]

If only the establishment could drive down wages, everything would be ok. 

 

 

Oh, wait, they have been doing that for 30+ years...  looks like they need another plan 

[dgul]

49 minutes ago, spygirl said:

Eyes down.

I dont think DEB will make Xmas.

Its got 4 weeks.

 

I've said elsewhere that it'll get to Christmas and then collapse...

But thinking about it, who's deliberately going to buy presents you can't take back.  So you're probably right -- and the administrators will be happier having the fire-sale before Christmas rather than just after.

[spygirl]

I cant decide whether this bloke is the biggest crook or the biggest moron:

http://www.thebusinessdesk.com/yorkshire/news/2029228-yorkshire-post-owner-acquired-in-pre-pack-rescue-deal?utm_source=newsletter&utm_medium=email&utm_campaign=Yorkshire_19th_Nov_2018_Daily

[spygirl]

https://www.ft.com/content/bc32fe88-ee74-11e8-89c8-d36339d835c0

And now the horrors are coming out

Paid 160m for The Scots man 13 years ago. Circulation down from 100k -> 17k. Now worth 4m.

 

[spygirl]

On 11/11/2018 at 17:02, spygirl said:

Oh its got assets - shoukd see the woman who does thd local small ads...

However its dwarfed by liabilities.

Whos first?

JP, GE or Debenhams.

Idiot fucking retail punters.

Catching falling knives.

 

Debs failed April 2019

JP admin in Nov 18

GE claimed to be insovlvent Aug 19