What's going to collapse next...

[Chewing Grass]

On 09/08/2023 at 15:10, dnb24 said:

A number of US companies hitting the wall-
 

Babylon health- 1300 jobs https://sifted.eu/articles/babylon-brink-bankruptcy-merger-falls-through-news

wework- 4500 jobs

https://www.forbes.com/sites/willskipworth/2023/08/08/wework-says-theres-substantial-doubt-about-ability-to-stay-in-business/amp/

National cineworld- https://www.boxofficepro.com/national-cinemedia-completes-financial-restructuring-and-announces-new-board-of-directors/

Proterra- Biden- “this is the future of EV travel”-

https://www.sfgate.com/tech/article/proterra-electric-vehicle-declares-bankruptcy-18286196.php

Western global airlines - 

https://sourcingjournal.com/topics/logistics/western-global-airlines-chapter-11-bankruptcy-nrf-imports-iata-air-cargo-ups-449058/

yellow- 30,000 jobs https://www.wsws.org/en/articles/2023/08/08/yell-a08.html

 

While 150,000 auto workers have their contracts expire next month at the Big Three auto companies (General Motors, Ford, and Stellantis).

Biggest auto strike in generations’ looms – UAW workers at Ford, Stellantis and General Motors are ready to walk off the job if tentative agreements for new union contracts aren’t reached.

https://www.theguardian.com/us-news/2023/sep/13/uaw-strike-explainer-ford-stellantis-gm

[Harley]

24 minutes ago, Chewing Grass said:

Halfords is similar but overstocked.

Their share price has started a run.  Weird.

[azzuri82]

On 13/09/2023 at 20:37, Harley said:

Their share price has started a run.  Weird.

They seem to be buying a lot of these tyre/brakes/exhaust 'Kwik-Fit' type garages out, rebranding them 'Halfords Autocentres' - springing up everywhere - perhaps something to do with it?

[spygirl]

On 24/10/2020 at 14:02, spygirl said:

I still cant make the numbers work.

It's all made up bollocks.

Richest man in Cumbria Philip Day now worth £1.2bn, according to Sunday Times Rich List

https://www.in-cumbria.com/news/17246645.richest-man-cumbria-philip-day-now-worth-1-2bn-according-sunday-times-rich-list/

 

https://moneyweek.com/economy/people/601715/philip-day-the-retail-knight-falls-off-his-horse

In recent years, the billionaire proprietor of Edinburgh Woollen Mill, Philip Day, has basked in the glow of a burgeoning reputation as a saviour of the British high street. “The opposite” of the sector’s stereotypical “brash entrepreneur”, Day is “quietly showing his retail rivals the way”, said The Guardian in 2018. Having quietly built a 1,113-store powerhouse from formerly stricken fashion chains such as Jaeger, Austin Reed, Peacocks and Bonmarché, his star is in the ascendant even as the curtain falls on Sir Philip Green’s troubled Arcadia empire. “As one billionaire Philip fades into the background another is hoving into view.” 

https://www.theguardian.com/business/2018/feb/23/can-this-man-save-our-high-streets

Retail entrepreneur Philip Day is yet to become a household name but the owner of more than a dozen retail brands, including Edinburgh Woollen Mill and Peacocks, is quietly buying up swathes of the high street, with troubled electronics retailer Maplin the latest chain on his shopping list.

The scale of Day’s growing empire is set out in the most recent accounts for the group’s parent company Edinburgh Woollen Mill Group. The sprawling group now has 1,113 stores and concessions and employs more than 24,000 people. Its sales topped £592m and generated profits of nearly £84m in the year to February 2017.

Day got his big break in 2001, when he was part of the £49m private equity backed takeover of staid middle-aged knitwear emporium the Edinburgh Woollen Mill. The following year he bought out co-investors Rutland in a £69m deal backed by HBOS giving him his first retail Monopoly piece.

How do you become a 'billionaire's operating in a se yor that gushes red and has been al the time Phillip Day has been snapping up junk brands?

Popped up for various reason.

Phillip Day.

Just seemed to have disappeared.

 

[Andersen]

Islabikes have taken delivery of their final batch of bikes and will be closing at the end of the year, a shame as they have always had a good reputation.

https://singletrackworld.com/2023/10/islabikes-to-cease-production/ 

[Pinkpanther]

3 hours ago, Andersen said:

Islabikes have taken delivery of their final batch of bikes and will be closing at the end of the year, a shame as they have always had a good reputation.

https://singletrackworld.com/2023/10/islabikes-to-cease-production/ 

Thats a shame - my kids had isla bikes when they were small, and that was because they were pretty well the only company that made decent bikes for Kids.  Real trend setters.

Now there are quite a few companys that make decent kids bikes, and quite a bit cheaper they will have lost quite a bit of their market share.

[spunko]

Heard from a fairly reliable industry source that Cazoo is going under next week. Not really that surprising. Might not be true but just posting it here in case any DOSBODers are about to buy a car - use a credit card!!

https://www.standard.co.uk/business/cazoo-expects-more-costs-from-630m-debt-restructuring-plan-as-sales-tumble-b1115903.html

All of these car buyers are feeling the pinch - carwow, motorway etc.

[spunko]

Quote

Shares have plummeted since Cazoo’s 2021 IPO. Having initially gone public at a valuation of $8 billion, its current share price of just $0.45 suggests a valuation of only $17 million. That’s a decline of 99.8%.

WTF

[Loki]

38 minutes ago, spunko said:

in case any DOSBODers are about to buy a car - use a credit card

Cannot state this enough, consumer protection laws (Like distance selling and Consumer Rights Act) are not worth the paper they aren't written on 

 

[Chewing Grass]

47 minutes ago, spunko said:

Heard from a fairly reliable industry source that Cazoo is going under next week. Not really that surprising. Might not be true but just posting it here in case any DOSBODers are about to buy a car - use a credit card!!

https://www.standard.co.uk/business/cazoo-expects-more-costs-from-630m-debt-restructuring-plan-as-sales-tumble-b1115903.html

All of these car buyers are feeling the pinch - carwow, motorway etc.

That bargain car isn't such a bargain when you can't find a dealer to fix it, under warranty or not.

Mail-order cars are not the same as consumer shite from Amazon.

[Ash4781b]

On 26/10/2023 at 19:26, Andersen said:

Islabikes have taken delivery of their final batch of bikes and will be closing at the end of the year, a shame as they have always had a good reputation.

https://singletrackworld.com/2023/10/islabikes-to-cease-production/ 

Interesting. WiggleCRC went into administration recently I forgot when. There are a few articles that there’s a monumental oversupply in cycling market post covid and it’s going to cause lots of failures in the industry as prices collapse due to stocks (left holding the bag). I just bought a bike £600 hardtail mountain bike and now I’m thinking I should have waited. @The Masked Tulip might have more detail. Also an interesting one as Durham born did mention along line might see some prices fall where there were collapsed like this and stock fire sales.

[Inigo]

1 hour ago, Ash4781b said:

Interesting. WiggleCRC went into administration recently I forgot when. There are a few articles that there’s a monumental oversupply in cycling market post covid and it’s going to cause lots of failures in the industry as prices collapse due to stocks (left holding the bag). I just bought a bike £600 hardtail mountain bike and now I’m thinking I should have waited. @The Masked Tulip might have more detail. Also an interesting one as Durham born did mention along line might see some prices fall where there were collapsed like this and stock fire sales.

I bought a nice mountain bike a while back (Whyte) and am on a corresponding Facebook group.  Lots of moaning about second-hand values plummeting as new prices are supposedly much less than they were, lots of discounting.

[The Masked Tulip]

2 hours ago, Ash4781b said:

Interesting. WiggleCRC went into administration recently I forgot when. There are a few articles that there’s a monumental oversupply in cycling market post covid and it’s going to cause lots of failures in the industry as prices collapse due to stocks (left holding the bag). I just bought a bike £600 hardtail mountain bike and now I’m thinking I should have waited. @The Masked Tulip might have more detail. Also an interesting one as Durham born did mention along line might see some prices fall where there were collapsed like this and stock fire sales.

 

Interestingly, there is not much supply / variety of bikes to buy. Lots of the main UK bike etailers have little options. I can only assume that as sales have fallen they have been cutting back considerably on stock. 

Cycling Solutions began in a Swansea bike shop with the original founder selling out for a fortune a few years back. I went into the original shop yesterday and was surprised to see that their stock is now about 70 to 80 percent ebikes. Bigger profits in ebikes or people now only wanting to buy ebikes? The price of non ebikes is so high now that you find yourself thinking that you may as well go a bit further and buy an ebike.

Prices in the physical shop crazy compared to what you can find the same ebike online... but people are queuing up to pay the money.

I had a look at some tern ebikes this morning. Shocked at the price increases since I last looked about 6 months. 3 grand ones now 6 grand. 6 grand one now 9.

I looked at £500 Cannondale Adventure step through on Evans Cycles as a possible Bafang conversion bike but decided it was too expensive, despite supposedly now being half price. But with Wiggle going bust I can only bike prices going higher in the longterm. 

 

 

[Chewing Grass]

2 minutes ago, The Masked Tulip said:

 

Interestingly, there is not much supply / variety of bikes to buy. Lots of the main UK bike etailers have little options. I can only assume that as sales have fallen they have been cutting back considerably on stock. 

Cycling Solutions began in a Swansea bike shop with the original founder selling out for a fortune a few years back. I went into the original shop yesterday and was surprised to see that their stock is now about 70 to 80 percent ebikes. Bigger profits in ebikes or people now only wanting to buy ebikes? The price of non ebikes is so high now that you find yourself thinking that you may as well go a bit further and buy an ebike.

Prices in the physical shop crazy compared to what you can find the same ebike online... but people are queuing up to pay the money.

I had a look at some tern ebikes this morning. Shocked at the price increases since I last looked about 6 months. 3 grand ones now 6 grand. 6 grand one now 9.

I looked at £500 Cannondale Adventure step through on Evans Cycles as a possible Bafang conversion bike but decided it was too expensive, despite supposedly now being half price. But with Wiggle going bust I can only bike prices going higher in the longterm. 

 

 

You will find this interesting, remember back in March Moore & Large went bust, well apparently there are 35,000 bikes (now old models) still sat in their warehouse with no staff and apparently little security.

“Big demand led to a big increase in supply,” he told Derbyshire Live. “Then the supply caught up and lots of stock arrived in the first quarter of 2022. There was a year’s worth of bikes arriving in the UK at the same time which meant there was a massive oversupply."

https://www.cyclingweekly.com/news/thieves-raid-major-distributors-warehouse-make-off-with-bikes

Planet X has been saved by a buyout.

Only the following month another stalwart retail brand, Planet X, looked set to enter administration, only to be saved by a private equity company. Winlong Garments Ltd, owned by Baaj Capital LLP, bought the Yorkshire company, taking on all of its 33 employees.

 

[The Masked Tulip]

1 minute ago, Chewing Grass said:

You will find this interesting, remember back in March Moore & Large went bust, well apparently there are 35,000 bikes (now old models) still sat in their warehouse with no staff and apparently little security.

“Big demand led to a big increase in supply,” he told Derbyshire Live. “Then the supply caught up and lots of stock arrived in the first quarter of 2022. There was a year’s worth of bikes arriving in the UK at the same time which meant there was a massive oversupply."

https://www.cyclingweekly.com/news/thieves-raid-major-distributors-warehouse-make-off-with-bikes

Planet X has been saved by a buyout.

Only the following month another stalwart retail brand, Planet X, looked set to enter administration, only to be saved by a private equity company. Winlong Garments Ltd, owned by Baaj Capital LLP, bought the Yorkshire company, taking on all of its 33 employees.

 

 

They sold off a load of their bikes via that UK auction house. Forget the name. John somebody. But the prices were stupidly high. They had VAT plus a 20% or 25% fee on top of the VAT bid price plus a hefty delivery charge. Many of the Bosche powered ebikes went for the same price I could buy one in a shop. Or even more. I do wonder how many of them were genuine final bids. I suspect lots of people did not read the small print about the VAT and 20% final price fee. Ouch! 

If there are 35,000 bikes still hanging around in a warehouse I am not sure what that tells us. Is 35,000 a lot? Are they decent brands or rubbish brands? 

[Chewing Grass]

9 minutes ago, The Masked Tulip said:

If there are 35,000 bikes still hanging around in a warehouse I am not sure what that tells us. Is 35,000 a lot? Are they decent brands or rubbish brands? 

I expect they are the sort of stuff that would stock your typical LBS.

I only buy collectors bikes from before 1996 with quality frames and no suspension stuff (I'm not a hipster).

Bikes that cost £1000 back in those days can be had for £30-£90.

Best one this year was one of these built up with early Durace (very collectable) for £90, came with drop bars but I've converted it to flat like a tourer, very niche, made in 1983 and in like new condition.

Quality endures.

https://www.merciancycles.co.uk/online-shop/frames/mercian-king-mercia-2/

[The Masked Tulip]

1 minute ago, Chewing Grass said:

I expect they are the sort of stuff that would stock your typical LBS.

I only buy collectors bikes from before 1996 with quality frames and no suspension stuff (I'm not a hipster).

Bikes that cost £1000 back in those days can be had for £30-£90.

Best one this year was one of these built up with early Durace (very collectable) for £90, came with drop bars but I've converted it to flat like a tourer, very niche, made in 1983 and in like new condition.

Quality endures.

https://www.merciancycles.co.uk/online-shop/frames/mercian-king-mercia-2/

 

Look fab. I will have a nose at that site.

I have been looking for 3 years now via Gumtree and ebay for a decent cheap bike to convert to a Bafang. Nothing anywhere decent. I am told that the best place is Facebook marketplace. I am loathe to join up to FB. though.

[The Masked Tulip]

1 hour ago, Inigo said:

I bought a nice mountain bike a while back (Whyte) and am on a corresponding Facebook group.  Lots of moaning about second-hand values plummeting as new prices are supposedly much less than they were, lots of discounting.

 

 

Whyte sold a load of bikes reently via Evans / Sportsdirect / House of Fraser for very discounted prices. I hope you got one. I was very tempted. Have a bit of remorse now not biting. Current prices for a basic hybrid type bike are nuts IMPO.

[Chewing Grass]

2 hours ago, The Masked Tulip said:

 

Look fab. I will have a nose at that site.

I have been looking for 3 years now via Gumtree and ebay for a decent cheap bike to convert to a Bafang. Nothing anywhere decent. I am told that the best place is Facebook marketplace. I am loathe to join up to FB. though.

Converted Mrs Chewys Aluminium Trek '29er that I got dirt cheap from a house clearance, the only mistake I made was fitting the biggest rack battery which made it a bit top heavy at the rear (like Mrs C...).

The damn thing will do 80 miles on Level 3 out of 5...

Way more than she needs.

Edited October 28, 2023 by Chewing Grass

[Axeman123]

17 hours ago, Chewing Grass said:

That bargain car isn't such a bargain when you can't find a dealer to fix it, under warranty or not.

Mail-order cars are not the same as consumer shite from Amazon.

Is that an issue? I had no idea. I would have assumed a Audi is an Audi as far as the Audi dealership is concerned for sevicing regardless of where you bought it.

I have heard some brands don't like Lhd or Rhd grey imports though, but is that what cazoo does? I thought it was just a standard "industry X plus online direct to consumer" IPO fodder business model.

[Chewing Grass]

1 hour ago, Axeman123 said:

Is that an issue? I had no idea. I would have assumed a Audi is an Audi as far as the Audi dealership is concerned for sevicing regardless of where you bought it.

I have heard some brands don't like Lhd or Rhd grey imports though, but is that what cazoo does? I thought it was just a standard "industry X plus online direct to consumer" IPO fodder business model.

If nobody buys from dealers with premises the number of dealers shrinks, this means your nearest one may be 40 miles away in the big smoke. This makes everything potentially awkward when the car is a bit of a pig, see Jaguar Land Rover and other Low Volume marques for details.

[sleepwello'nights]

On 27/10/2023 at 19:30, spunko said:

Heard from a fairly reliable industry source that Cazoo is going under next week. Not really that surprising. Might not be true but just posting it here in case any DOSBODers are about to buy a car - use a credit card!!

https://www.standard.co.uk/business/cazoo-expects-more-costs-from-630m-debt-restructuring-plan-as-sales-tumble-b1115903.html

All of these car buyers are feeling the pinch - carwow, motorway etc.

That's a shame. The price they offered for my car was a couple of thousand higher than WeBuyAnyCar. Just as well I wasn't selling it anyway. 

[spygirl]

On 28/10/2023 at 13:46, Chewing Grass said:

Converted Mrs Chewys Aluminium Trek '29er that I got dirt cheap from a house clearance, the only mistake I made was fitting the biggest rack battery which made it a bit top heavy at the rear (like Mrs C...).

The damn thing will do 80 miles on Level 3 out of 5...

Way more than she needs.

Thus Ipinspired to have another look at ebikes.

There's all sort if wierd n wonderful ebay conversions going on at tge pub.

People whove not been in a bike for decades suddenly getting chinky conversion kit. Msinky driven by both petrol cost n parking issues.

Bar man's got a well dodgy ie prob illegal one on his bike.

Had a trip to Yawk n back, round trip of just under 100miles.

This impressed me -

https://www.cytronex.com/

Decent 2nd hand bikes are cheap.

Battery is detachable.

 

[Option5]

Safestyle windows.

BBC News - Safestyle UK: Hundreds of jobs lost as firm enters administration

https://www.bbc.co.uk/news/uk-england-leeds-67267093

 

[Ash4781b]

21 minutes ago, Option5 said:

Safestyle windows.

BBC News - Safestyle UK: Hundreds of jobs lost as firm enters administration

https://www.bbc.co.uk/news/uk-england-leeds-67267093

 

“The unseasonably warm weather in September also dented demand for its products, the statement added.” 

I don’t quite follow the thinking there to be honest.

is that really their HQ? Maybe rented I guess but Looks like their HQ needed new windows.

I guess there will be threads in forums as suspect some people will be losing deposits etc.