What's going to collapse next...

[dgul]

18 minutes ago, Ponty Mython said:

Not sure that copying B & Q is a good plan - they are fucked too!

At least they have the footfall.

I don't agree with 'they're fucked'.  We're going to have a downturn in the economy soon, and when that happens DIY will once again become popular (or, perhaps, a necessity).  There's now an entire generation for the DIY warehouses to attract, and I think they'll do well.

[They've lost a lot of custom to Screwfix/Toolstation/internet, and while I can't understand anyone going to B&Q over Toolstation, there's a pile of people out there for whom going to B&Q would already be an adventure, and who will appreciate the more casual/advisory/look/touch nature of the warehouses]

[reformed nice guy]

1 hour ago, dgul said:

 

[They've lost a lot of custom to Screwfix/Toolstation/internet, and while I can't understand anyone going to B&Q over Toolstation, there's a pile of people out there for whom going to B&Q would already be an adventure, and who will appreciate the more casual/advisory/look/touch nature of the warehouses]

I think B&Q bought over Screwfix 

[Don Coglione]

1 hour ago, dgul said:

At least they have the footfall.

I don't agree with 'they're fucked'.  We're going to have a downturn in the economy soon, and when that happens DIY will once again become popular (or, perhaps, a necessity).  There's now an entire generation for the DIY warehouses to attract, and I think they'll do well.

[They've lost a lot of custom to Screwfix/Toolstation/internet, and while I can't understand anyone going to B&Q over Toolstation, there's a pile of people out there for whom going to B&Q would already be an adventure, and who will appreciate the more casual/advisory/look/touch nature of the warehouses]

Even Kingfisher, B & Q's parent, admit that they are fucked. They have Screwfix to patch up the group, to some extent, but it's still curtains for good old B & Q...

[Calcutta]

Was banned from B&Q in Eastleigh just for walking in the Exit door. Fuck them.

[Hardhat]

Uber loses license to operate in London

https://www.theguardian.com/technology/2019/nov/25/uber-loses-licence-london-tfl

[One percent]

4 minutes ago, Hardhat said:

Uber loses license to operate in London

https://www.theguardian.com/technology/2019/nov/25/uber-loses-licence-london-tfl

From the article 

Uber has lost its licence to operate private hire vehicles in London, after authorities discovered that more than 14,000 trips were taken with uninsured drivers.

Transport for London announced the decision not to renew the global ride-hailing firm’s licence at the end of a two-month probationary extension granted in September.

Uber was told then it needed to address issues with checks on drivers, insurance and safety, but has failed to satisfy the capital’s transport authorities.

TfL said it had identified a “pattern of failures” by Uber, including several breaches that placed passengers and their safety at risk.

 

they are taking the piss. The hoops to get a black cab licence shows this up for the way in which everything is deregulated, to the detriment of the end user, at the behest of big business. Hope it crashes and burns 

[Ash4781b]

On 23/11/2019 at 16:06, dgul said:

At least they have the footfall.

I don't agree with 'they're fucked'.  We're going to have a downturn in the economy soon, and when that happens DIY will once again become popular (or, perhaps, a necessity).  There's now an entire generation for the DIY warehouses to attract, and I think they'll do well.

[They've lost a lot of custom to Screwfix/Toolstation/internet, and while I can't understand anyone going to B&Q over Toolstation, there's a pile of people out there for whom going to B&Q would already be an adventure, and who will appreciate the more casual/advisory/look/touch nature of the warehouses]

I purchased a cabinet at the weekend. Oddly the mid sized B&Q despite saying had stock online only stocked the gloss white version in store. Bizarrely the smaller b & q down the road stocked all colours. It’s probably crap quality(has a daft 10yr warranty) but needed a bathroom cabinet for Sunday.  It’s a while since I’ve experienced the b&q stocking system. Their website imo is one of the worst commercial websites I’ve ever used!  

Re screwfix. It’s ok - I don’t usually find it price competitive but understand trades would just pass through costs.

[Wight Flight]

11 hours ago, Hardhat said:

Uber loses license to operate in London

https://www.theguardian.com/technology/2019/nov/25/uber-loses-licence-london-tfl

Doesn't that mean that Uber's losses will now reduce?

Good news for everyone?

[spygirl]

Oh the irony ....

https://www.bbc.co.uk/news/business-50557097

QE around the world, central banks printing like fuck ... and De La Rue on the brink.

In May last year, it had to write off £18m after Venezuela's central bank failed to pay its bills.

Just goes how thick Cuntbins mates are. All they had to do was pay the bill in Venezuelan dollars. I think is called the Andrex.

 

 

[Hardhat]

12 hours ago, Wight Flight said:

Doesn't that mean that Uber's losses will now reduce?

Good news for everyone?

Since all they have are losses, a lot of their valuation is based on their access to markets, aggressive scaling and ability / willingness to dodge regulation. If they have to play by the rules, they are just another minicab firm. Even their app is no longer unique, many companies now have one.

[Noallegiance]

1 hour ago, Tdog said:

Jordan.

Her assets have never been what they used to be in the noughties.

https://www.bbc.co.uk/news/entertainment-arts-50561711

 

I reckon her wizard sleeve collapsed years ago.

[spygirl]

Slipping on Iceland.

That loon sarfer Wiess' holding company selling off stakes in New Look n Iceland.

Im sure theyll find lots of buyers for a shit food retsiler shuts at 6pm and a crap fashion retailer.

[spygirl]

Ted Bakre are going from fuck up to fuck up.

Share price downlike brick over the last 12 months.

 

[spunko]

Interesting photo of Kiddies Kingdom staff in Leeds, who are rumoured to be buying Mothercare. Is this part of the staff uniform?

 

Ask your local Imam for friendly advice on buying a pram?

I'm sure there's a joke in there somewhere.

[spunko]

On 27/11/2019 at 19:32, spygirl said:

Slipping on Iceland.

That loon sarfer Wiess' holding company selling off stakes in New Look n Iceland.

Im sure theyll find lots of buyers for a shit food retsiler shuts at 6pm and a crap fashion retailer.

Oi! New Look are great for men's clothes. Can get a decent hoodie for £15. No massive logos or OTT japanese lettering in sight.

[dgul]

So, Clintons (cards) is saved.

https://www.bbc.co.uk/news/business-50656110

But what a weird process.

As far as I can see it: Clintons (owned by the Weiss family in the USA) was in trouble.  So, they go bankrupt, but are immediately bought from the receivers by a new company set up by... the Weiss family.  The main difference between before and after is they've scrubbed a lot of debt owed to people in the UK (suppliers, rent, that sort of thing).

IMO what the headline should be is:  US company operating in the UK has used a clever sleight of hand to make their UK suppliers poorer. 

Sure, some people will continue to have jobs, but their continued employment (cheap tax credit labour) has been bought by making some UK companies more fragile (that also employ people, many not on minimum wage / tax credits).

[spunko]

2 hours ago, dgul said:

So, Clintons (cards) is saved.

https://www.bbc.co.uk/news/business-50656110

But what a weird process.

As far as I can see it: Clintons (owned by the Weiss family in the USA) was in trouble.  So, they go bankrupt, but are immediately bought from the receivers by a new company set up by... the Weiss family.  The main difference between before and after is they've scrubbed a lot of debt owed to people in the UK (suppliers, rent, that sort of thing).

IMO what the headline should be is:  US company operating in the UK has used a clever sleight of hand to make their UK suppliers poorer. 

Sure, some people will continue to have jobs, but their continued employment (cheap tax credit labour) has been bought by making some UK companies more fragile (that also employ people, many not on minimum wage / tax credits).

Sounds like phoenixing - but with decent lawyers representing you, HMRC will look the other way. If you or I tried it...

 

[Wight Flight]

12 minutes ago, spunko said:

Sounds like phoenixing - but with decent lawyers representing you, HMRC will look the other way. If you or I tried it...

 

Nope. Very easy to do. Just need the right insolvency practitioner.

HMRC turn a blind eye because whilst they lose what they were owed (and would never have got), they avoid having to pay the redundancy. For now.

[spunko]

5 minutes ago, Wight Flight said:

Nope. Very easy to do. Just need the right insolvency practitioner.

HMRC turn a blind eye because whilst they lose what they were owed (and would never have got), they avoid having to pay the redundancy. For now.

Don't you have to clear the cash out first though, and not spend it (obviously) on yourself - surely a huge red flag if you withdraw all the cash out as dividend, leave the company short and then wind it up (and start again).

[Wight Flight]

2 minutes ago, spunko said:

Don't you have to clear the cash out first though, and not spend it (obviously) on yourself - surely a huge red flag if you withdraw all the cash out as dividend, leave the company short and then wind it up (and start again).

Well yes. You can't take it as dividends as a dividend taken from a company with a -ve balance sheet is a loan which can be called in by the receiver.

You could pay yourself a rather large salary though. Since the paye isn't going to be paid, there is little difference. Except that your salary can't be reclaimed.

But to be fair, most of the companies that I know that did this just fell on hard times. It is a good way of ditching staff or premises that you don't need but can't afford to get rid of.

[sancho panza]

jessops gone.amazed they made it this far.

https://www.retailgazette.co.uk/blog/2019/12/500-jobs-risk-jessops-calls-administrators/

[dgul]

13 minutes ago, sancho panza said:

jessops gone.amazed they made it this far.

https://www.retailgazette.co.uk/blog/2019/12/500-jobs-risk-jessops-calls-administrators/

I think you mean Jessops gone again.

I find it an interesting business model -- find a business that doesn't make any money in a sector that is in structural decline, and then buy it thinking that it has only failed because it is run by idiots.  And wait a few years...

[spygirl]

Amigo loans lurching from fuck up to fuck up.

https://www.ft.com/content/60794508-1a5f-11ea-9186-7348c2f183af

Amigo’s shares have lost about three-quarters of their value since the company went public in June 2018, but rose 13 per cent on Monday to 68.2p. The company’s market capitalisation has fallen from £1.3bn at its IPO to £325m.

Mates say there shit hq has scaffold up it, 4 years after it was built.

[spygirl]

Ted Baker share holders being took to the cleaners. Again.

 

 

[Ash4781b]

7 hours ago, spygirl said:

Ted Baker share holders being took to the cleaners. Again.

 

 

Where’s Mike Ashley? Got to be top target ?

From afar looks as if things of gone very wrong. Not seen in the detail where the problem is - presumably margins collapsed?

 

Edited December 10, 2019 by Ash4781b