What's going to collapse next...

[sancho panza]

On 11/03/2023 at 12:43, Ash4781b said:

For retail sadly I think it will be Wilko’s. 

Half the family got out well in time.july 2015.

I thought this sael was well timed at the time.

https://www.retailgazette.co.uk/blog/2015/07/sale-of-wilko-generates-family-63-pounds/

Edited March 13, 2023 by sancho panza

[Underwhelmed]

never understood Wilko biz model, isn't it just like Woolworths selling all manner of crap so will face the same fate.

[King Penda]

One of these card shops 

[No One]

On 19/12/2018 at 14:26, TheCountOfNowhere said:

Hi All,

What a year!!!

The shit is hitting the fan big time and next years going to be worse/better

I'm in blighty for Christmas now and the place looks fucked. 

I think we will see loads of collapsing retail companies in Q1 2019. Everyone says to me, don't buy vouchers for the kids...

 

 

By the looks of it, the next thing that is going to collapse is the US Banking sector lol

[No One]

On 08/03/2023 at 18:56, spunko said:

It's really bizarre how you can make a loss on used cars when they're at record prices. It isn't as if they're buying them for loads more, trade prices haven't risen as much as private.

There's a company near where I work, big local firm but not national, who sell 'high end' cars. Though they're not really high end, think of an Audi Q5 after the 4 year PCP is up, and you'd be closer to what they sell. Anyway, they're closing an outlet too. Literally all they do is just buy them from BCA, I've even seen the transporters branded with BCA livery offloading the used cars. Then they prep them and sell them. Not rocket science but it does make you wonder how they are making a loss.

All I can think of is that less people are willing to take out extortionate finance deals, on used cars it must average what 12.9% APR again now, absolutely mental.

Even going direct to the manufacturer you'll be lucky to get anything below 8% APR. BMW are doing 8.9% on most of their range now, Audi doing 10.9%, ... I refuse to pay anything above 4.9% personally.

 

 

your answer

[spunko]

30 minutes ago, No One said:

 

 

your answer

Sorry to sound like an arse but I don't watch videos, do you have a tldr?

[Loki]

10 minutes ago, spunko said:

Sorry to sound like an arse but I don't watch videos, do you have a tldr?

Number go down

[JoeDavola]

48 minutes ago, No One said:

 

 

your answer

Why oh why is every YouTube presenter pulling the same Cuck Face:

Edited March 13, 2023 by JoeDavola

[No One]

15 minutes ago, spunko said:

Sorry to sound like an arse but I don't watch videos, do you have a tldr?

Yes

2020 COVID hits, OEMs stop making cars and retailers sell their stock because they fear a 2007/8.

2020 Summer, people have stimmies, so they wan to buy card but stocks are low. New car sales grind to a halt due to lack of supply, used car sales prices start going up

2020 end of year, dealerships have to buy back used inventory they sold just 2 years earlier to flip it in their lots at higher than MSRP as they need to buy and sell as prt of their business, you cant have a dealership not selling cars.

2021 New car and used car market goes into bubble territory, banks have to lend at above the market value of the car. Think like Eric Pebble liar loans post but with cars. Dealerships have to buy cars from auction at above book value and sell above buying price. 

2021 end of year, stimmies are drying up. People are becoming underwater on their car loans. Defaults start increasing.

2022 dealerships are getting gready and refuse to take a loss on overprice inventory, REPOs skyrocket, some dealerships start getitng in trouble

2023 car bubble pops

 

[spunko]

12 minutes ago, No One said:

Yes

2020 COVID hits, OEMs stop making cars and retailers sell their stock because they fear a 2007/8.

2020 Summer, people have stimmies, so they wan to buy card but stocks are low. New car sales grind to a halt due to lack of supply, used car sales prices start going up

2020 end of year, dealerships have to buy back used inventory they sold just 2 years earlier to flip it in their lots at higher than MSRP as they need to buy and sell as prt of their business, you cant have a dealership not selling cars.

2021 New car and used car market goes into bubble territory, banks have to lend at above the market value of the car. Think like Eric Pebble liar loans post but with cars. Dealerships have to buy cars from auction at above book value and sell above buying price. 

2021 end of year, stimmies are drying up. People are becoming underwater on their car loans. Defaults start increasing.

2022 dealerships are getting gready and refuse to take a loss on overprice inventory, REPOs skyrocket, some dealerships start getitng in trouble

2023 car bubble pops

 

Thanks,  I really hope it pops but just a case of when. Might not be for another few years. 

[leonardratso]

1 hour ago, No One said:

Yes

2020 COVID hits, OEMs stop making cars and retailers sell their stock because they fear a 2007/8.

2020 Summer, people have stimmies, so they wan to buy card but stocks are low. New car sales grind to a halt due to lack of supply, used car sales prices start going up

2020 end of year, dealerships have to buy back used inventory they sold just 2 years earlier to flip it in their lots at higher than MSRP as they need to buy and sell as prt of their business, you cant have a dealership not selling cars.

2021 New car and used car market goes into bubble territory, banks have to lend at above the market value of the car. Think like Eric Pebble liar loans post but with cars. Dealerships have to buy cars from auction at above book value and sell above buying price. 

2021 end of year, stimmies are drying up. People are becoming underwater on their car loans. Defaults start increasing.

2022 dealerships are getting gready and refuse to take a loss on overprice inventory, REPOs skyrocket, some dealerships start getitng in trouble

2023 car bubble pops

 

tldr

[No One]

Just now, leonardratso said:

tldr

oh fuck off

[honkydonkey]

2 hours ago, leonardratso said:

tldr

 

[PatronizingGit]

7 hours ago, Underwhelmed said:

never understood Wilko biz model, isn't it just like Woolworths selling all manner of crap so will face the same fate.

Convenience I guess. I know I can find 99% of what wilko stocks elsewhere, but there is always one nearby, so if I need something pronto, i'll hold my nose & go in wilko.

[PatronizingGit]

4 hours ago, No One said:

Yes

2020 COVID hits, OEMs stop making cars and retailers sell their stock because they fear a 2007/8.

2020 Summer, people have stimmies, so they wan to buy card but stocks are low. New car sales grind to a halt due to lack of supply, used car sales prices start going up

2020 end of year, dealerships have to buy back used inventory they sold just 2 years earlier to flip it in their lots at higher than MSRP as they need to buy and sell as prt of their business, you cant have a dealership not selling cars.

2021 New car and used car market goes into bubble territory, banks have to lend at above the market value of the car. Think like Eric Pebble liar loans post but with cars. Dealerships have to buy cars from auction at above book value and sell above buying price. 

2021 end of year, stimmies are drying up. People are becoming underwater on their car loans. Defaults start increasing.

2022 dealerships are getting gready and refuse to take a loss on overprice inventory, REPOs skyrocket, some dealerships start getitng in trouble

2023 car bubble pops

 

Im surprised there havent been more forced sales yet. 

One of the big trends of the 2010s has been continual low rates (negative in real terms) allowing people who have big inventories, be it of cars, property, something else, not needing to offload because the cost of servicing that debt is so low. 

 

Now its (id guess) well above 5% surely it begins to become a serious expense. 

 

Just wait for the 'maintainence payments for asset holders who dont want to have to realize a loss' schemes. 

[Delboy]

On 11/03/2023 at 12:43, Ash4781b said:

For retail sadly I think it will be Wilko’s. 

Wilko, a company in financial distress that sold its own distribution centre for £48m, only for the new owners to sell it on (less than a month later) for £88m. 

Wilko statement after distribution centre bought by DHL sold to private equity giant - Nottinghamshire Live (nottinghampost.com)

Oh, they also borrowed £40m, from Hilco (owners of Homebase).

Wilko teams up with Hilco for £40m cash injection | TheBusinessDesk.com

[HousePriceMania]

https://www.bbc.co.uk/sport/football/65018030

 

Wigan Athletic docked three points by EFL for failing to pay players

[BoSon]

On 21/03/2023 at 09:01, HousePriceMania said:

https://www.bbc.co.uk/sport/football/65018030

 

Wigan Athletic docked three points by EFL for failing to pay players

Performance based? [tongue in cheek] Following Musk's business sense?

Elon Musk frequently told Twitter staff 'let them sue' in response to vendors and landlords complaining about unpaid bills, report says

https://www.businessinsider.com/elon-musk-let-them-sue-response-twitters-unpaid-pills-report-2023-3?r=US&IR=T

Quote

Various lawsuits have been filed against Twitter claiming more than $14 million over unpaid bills. 

 

 

[King Penda]

Loans for cars are not that bad yet here is the interest rate on 16k over 3?years .obviously the amount your paying back is has much has a morgage .

[HousePriceMania]

Just say this on TOS

 

Casual-observer

• 
• Members
• •  2.4k

Posted 2 hours ago

There's rumours Royal Mail are going into administration, apparently 



Just trying to find out where the rumour comes from.

[HousePriceMania]

Casual-observer said:

The grapevine. Feel free to take it with a pinch of salt. 

[Wight Flight]

Far from a household name, but this one went bust last week.

@Balding Badger might know them. Not a badly run company, and past accounts looked good.

How many more to come?

https://find-and-update.company-information.service.gov.uk/company/01700975

[Balding Badger]

3 minutes ago, Wight Flight said:

Far from a household name, but this one went bust last week.

@Balding Badger might know them. Not a badly run company, and past accounts looked good.

How many more to come?

https://find-and-update.company-information.service.gov.uk/company/01700975

I don't know them, myself. There was the Manchester Printers Group shenanigans last week as well.

Reps tell us that they aren't selling paper, which is an exaggeration, but one sheet we buy was re-branded to a new name 3-4 months ago and we took delivery of five pallets earlier this month, three of which had the old name on. All the plastic coverings had a very thick layer of dirt on top, much worse than normal, which in sum says things are hanging around in warehouses longer than they ought to.

One of our Reps told us that he had noticed a lot of small firms started printing more themselves when prices started going up (they were using the likes of Bluetree/Route One and their ilk before) as the trade printers got too expensive, but now they just don't have much work at all. If that is true then there are a lot of small firms that must be pretty nnear the edge.

I'm removed from the heart of the industry but there seems to be a regular drip of firms going under again, although I suspect it will get worse.

[Wight Flight]

7 minutes ago, Balding Badger said:

I don't know them, myself. There was the Manchester Printers Group shenanigans last week as well.

Reps tell us that they aren't selling paper, which is an exaggeration, but one sheet we buy was re-branded to a new name 3-4 months ago and we took delivery of five pallets earlier this month, three of which had the old name on. All the plastic coverings had a very thick layer of dirt on top, much worse than normal, which in sum says things are hanging around in warehouses longer than they ought to.

One of our Reps told us that he had noticed a lot of small firms started printing more themselves when prices started going up (they were using the likes of Bluetree/Route One and their ilk before) as the trade printers got too expensive, but now they just don't have much work at all. If that is true then there are a lot of small firms that must be pretty nnear the edge.

I'm removed from the heart of the industry but there seems to be a regular drip of firms going under again, although I suspect it will get worse.

Yep. The MPG one is interesting. Reminds me a bit of APG (Aldersons). Couldn't have happened to more deserving people 

Interesting that work is being brought back from the farmers. Print24 have hiked the prices quite a lot recently as well.

I do wonder how long Bishops will last. (You aren't South Coast, are you?)

[One percent]

2 hours ago, King Penda said:

Loans for cars are not that bad yet here is the interest rate on 16k over 3?years .obviously the amount your paying back is has much has a morgage .

Is that the rent for three years on a car?  If , you could buy a very nice second hand car for that and then run it into the ground.