What's going to collapse next...

[ste]

On 17/01/2024 at 21:57, dnb24 said:

not the only issue with JLR- apparently boot material on ranges and evoque is only ABS - thieves can silently cut hole in boot in a couple of minutes, disable alarm and immobiliser and make off with it. Neighbours got done like this in November- so common an issue that JLR don’t have enough replacements to repair- neighbour (JLR employee) still waiting for work to be done. 

Could be stopped over night if they wanted and shut off the channels to export these cars.

Somehow customs/borders force/HMRC or whatever can hold my A5 envelope of electrical components coming into the country hostage for several days to make sure no tax is due... but somehow you can slip out thousands of stolen cars without anyone noticing.

[spygirl]

On 19/12/2023 at 17:16, spygirl said:

 

Signa puts Chrysler Building up for sale in urgent effort to raise cash

Collapsed European property company founded by Rene Benko faces painful wind-down, warns administrator

https://www.ft.com/content/18251244-e315-4c7e-805b-43f71328ac4e

Signa Holding’s €5bn debt backed by €250mn collateral, says administrator

Disclosure raises fresh questions about how much lenders can hope to recoup from collapsing property group

https://www.ft.com/content/52dbdee9-a9bb-408c-ad13-6f33cbda2445

This is why banks need to crank down the leverage and bankers need to be paid like nurses.

[spygirl]

On 28/01/2024 at 11:07, spygirl said:

Signa Holding’s €5bn debt backed by €250mn collateral, says administrator

Disclosure raises fresh questions about how much lenders can hope to recoup from collapsing property group

https://www.ft.com/content/52dbdee9-a9bb-408c-ad13-6f33cbda2445

This is why banks need to crank down the leverage and bankers need to be paid like nurses.

Ther German speaking word is getting one massive kick i nthe balls after another.

Wirecard.

Ruskie gas supplies kaputt.

~5m ;guest's turn out to be useless muzzer cunts

https://www.ft.com/content/830ca0df-b3a8-4a67-afa0-35818e818ec9

KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire.

Management of the 116-year-old Berlin institution said that despite booming sales they could not afford to pay rising rents demanded by the Signa Group and the business needed urgent restructuring.

Thats means Europe will get kicked in the balls too.

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https://www.ft.com/content/830ca0df-b3a8-4a67-afa0-35818e818ec9

And I thought that Evergrande and NMC were bad! Recommend 12 Reply Share Report

Italo007 51 MINUTES AGO With a mere 1000+ companies in the group, this begins to make Wirecard look tame it seems… DACH is the gift that keeps on giving in this decade apparently. Recommend 4 Reply Share Report

gkmuc 53 MINUTES AGO (Edited) Benko is hiding a huge fortune in bankruptcy-remote structures, always one step ahead of his creditors. Crony capitalism Austrian-style: Privatizing profits and socializing losses. Recommend 4 Reply Share Report

Stonefish 1 HOUR AGO A lot of scandals coming out of Germany and Austria lately Recommend 4 Reply Share Report

Risk Man 10 MINUTES AGO (Edited)   In reply to Stonefish Austrians taking Germans for a ride. When have we seen that movie before? Recommend Reply Share Report

Manxman 1 HOUR AGO Shut the place down and convert it into living space for immigrants. That will culturally enrich Berlin and reduce the carbon footprint.

 

[Wing2918]

Yodel prepares to call in administrators.  I generally found them terrible. 

https://www.telegraph.co.uk/business/2024/02/07/parcel-courier-yodel-prepares-to-call-in-administrators/

[Upsettah]

12 hours ago, Wing2918 said:

Yodel prepares to call in administrators.  I generally found them terrible. 

https://www.telegraph.co.uk/business/2024/02/07/parcel-courier-yodel-prepares-to-call-in-administrators/

Owned by the fine, honest, completely sane and upstanding Barclay family, you know. 

Just like the GetaLarph, in fact 🙂

Just to add, this company was created in 2010 and did nothing but turn in huge losses until 2021.

Grauniad, from 2023:

"The business, whose parent company is registered in Jersey, posted its first pretax profit, of £17.6m on revenues of £676m, for the year to 30 June 2021, delivering 40m extra parcels for a total of 187m. A slip back to 173m followed in 2022, but this financial year a record 194m have been notched up."

Hmm. Go cogitate 🙄

Edited February 8 by Upsettah

[Andersen]

Another Yodel article .. https://www.bbc.com/news/business-68238101

[Calcutta]

Yodel still owe me £30 for a gazebo they delivered to the wrong fucking house. Might see if I can go down as one of their creditors and get a couple of quid back at least.

[Herby]

Broadcom buy VMware..

Firstly potentially 20,000 redundancies.. 

https://www.channelfutures.com/mergers-acquisitions/broadcom-layoffs-officially-above-2-100-post-vmware-deal

Secondly the biggest client drops them.. luckily only worth 69 billion dollars.. 

https://www.sangfor.com/blog/cloud-and-infrastructure/dell-ends-contract-after-broadcom-vmware-acquisition

Tick tock tick tock

 

[xyz]

The Body Shop goes into administration, a few weeks after being bought out by private equity firm Aurelius. Why would they buy it and then immediately put it into administration?

https://www.bbc.co.uk/news/business-68261784

[Boon]

1 hour ago, xyz said:

The Body Shop goes into administration, a few weeks after being bought out by private equity firm Aurelius. Why would they buy it and then immediately put it into administration?

https://www.bbc.co.uk/news/business-68261784

I guess it's the way to ditch unprofitable leases or force renegotiations while keeping on trading.

I suspect that is their trouble, they have too many shops and staff and covid changed shopping habits.

[Ash4781b]

2 hours ago, xyz said:

The Body Shop goes into administration, a few weeks after being bought out by private equity firm Aurelius. Why would they buy it and then immediately put it into administration?

https://www.bbc.co.uk/news/business-68261784

In it for the long term?

[wherebee]

17 hours ago, xyz said:

The Body Shop goes into administration, a few weeks after being bought out by private equity firm Aurelius. Why would they buy it and then immediately put it into administration?

https://www.bbc.co.uk/news/business-68261784

some fancy tax bollocks, no doubt - maybe double tax credits for some reason which they can offset against huge profits elsewhere, pushing dividends up.

whenever there is fuckery like this, it's ALWAYS due to a gvt based loophole

[sancho panza]

https://www.telegraph.co.uk/business/2024/02/11/cost-cuts-loom-at-the-guardian-amid-widening-losses/

Cost cuts loom at The Guardian amid widening losses

Newspaper forecasts a £39m loss amid a drop in demand from digital advertisers

Employees at The Guardian are preparing for cost cuts as the newspaper warned it is forecast to make a £39m loss.

Bosses revealed the financial challenges facing the business at a meeting last week, as they laid bare the impact of reduced revenues caused by a downturn in the advertising market. 

The publisher said it had lost £36m in the first nine months of 2023, with a further £3m loss expected by the end of the year.

The paper, which does not charge for online access, has been hit hard by a drop in demand from digital advertisers.

Looming cuts at The Guardian would follow sweeping layoffs at competitor Reach, which runs the Mirror, the Express and several regional titles.

The Scott Trust, a charitable organisation that owns both The Guardian and its sister paper, The Observer, considers the current financial situation “beyond acceptable or sustainable”.

Katharine Viner, editor-in-chief, has tried to ease concerns, according to The Sunday Times, telling staff that they should: “Worry, but not panic.”

[sancho panza]

https://www.theguardian.com/business/2024/feb/12/adnams-calls-in-advisers-to-seek-funds-to-save-152-year-old-suffolk-brewer

Adnams calls in advisers to seek funds to save 152-year-old Suffolk brewer

Shares fall 5% after news, with value having dropped by almost two-thirds in past year as breweries struggle after pandemic

Adnams has confirmed it has called in advisers to explore options to raise funds as the Suffolk-based brewer aims to secure its financial future.

The 152-year-old company, which is based in Southwold in Suffolk, has instructed Alvarez & Marsal to “explore a range of options to fund the company’s future growth plans”.

Options are likely to include private capital from a high net worth investor or family office, as well as potentially the sale of some of Adnams’ freehold assets from its estate of 45 managed inns and properties.

In September, the company reported that operating losses in the first half of the year to June widened to £2.4m, compared with an £811,000 loss in the same period in 2022, as revenues remained flat at £30m.

The founding family remains the largest shareholder in the brewer, which has expanded into gin, beer and offering tours including of Southwold lighthouse.

[Onsamui]

2 minutes ago, sancho panza said:

https://www.telegraph.co.uk/business/2024/02/11/cost-cuts-loom-at-the-guardian-amid-widening-losses/

Cost cuts loom at The Guardian amid widening losses

Newspaper forecasts a £39m loss amid a drop in demand from digital advertisers

Employees at The Guardian are preparing for cost cuts as the newspaper warned it is forecast to make a £39m loss.

Bosses revealed the financial challenges facing the business at a meeting last week, as they laid bare the impact of reduced revenues caused by a downturn in the advertising market. 

The publisher said it had lost £36m in the first nine months of 2023, with a further £3m loss expected by the end of the year.

The paper, which does not charge for online access, has been hit hard by a drop in demand from digital advertisers.

Looming cuts at The Guardian would follow sweeping layoffs at competitor Reach, which runs the Mirror, the Express and several regional titles.

The Scott Trust, a charitable organisation that owns both The Guardian and its sister paper, The Observer, considers the current financial situation “beyond acceptable or sustainable”.

Katharine Viner, editor-in-chief, has tried to ease concerns, according to The Sunday Times, telling staff that they should: “Worry, but not panic.”

Good. Useless left wing tripe MSM.

[Ash4781b]

2 hours ago, sancho panza said:

https://www.theguardian.com/business/2024/feb/12/adnams-calls-in-advisers-to-seek-funds-to-save-152-year-old-suffolk-brewer

Adnams calls in advisers to seek funds to save 152-year-old Suffolk brewer

Shares fall 5% after news, with value having dropped by almost two-thirds in past year as breweries struggle after pandemic

Adnams has confirmed it has called in advisers to explore options to raise funds as the Suffolk-based brewer aims to secure its financial future.

The 152-year-old company, which is based in Southwold in Suffolk, has instructed Alvarez & Marsal to “explore a range of options to fund the company’s future growth plans”.

 

Options are likely to include private capital from a high net worth investor or family office, as well as potentially the sale of some of Adnams’ freehold assets from its estate of 45 managed inns and properties.

In September, the company reported that operating losses in the first half of the year to June widened to £2.4m, compared with an £811,000 loss in the same period in 2022, as revenues remained flat at £30m.

The founding family remains the largest shareholder in the brewer, which has expanded into gin, beer and offering tours including of Southwold lighthouse.

Wow. I really like their beers. Ghost ship. I’m not that keen on their packaging/ marketing though. I don’t know enough about their business - pubs, hotels , breweries.

[AWW]

On 17/01/2024 at 21:21, Chewing Grass said:

Oh dear, buyer of "aspirational brand" finds they are unable to project their level of "aspiration" due to the product being crap.

On 12/02/2024 at 18:51, Ash4781b said:

Wow. I really like their beers. Ghost ship. I’m not that keen on their packaging/ marketing though. I don’t know enough about their business - pubs, hotels , breweries.

Yes that is a shame. I'm a fan of Proper Job myself. They also run some decent pubs.

[Andersen]

EVRI ?

"We earned our reputation as a crap company - lessons have been learned" 

https://www.bbc.com/news/business-67726537

[roundhouse]

On 12/02/2024 at 16:27, sancho panza said:

https://www.telegraph.co.uk/business/2024/02/11/cost-cuts-loom-at-the-guardian-amid-widening-losses/

Cost cuts loom at The Guardian amid widening losses

Newspaper forecasts a £39m loss amid a drop in demand from digital advertisers

Employees at The Guardian are preparing for cost cuts as the newspaper warned it is forecast to make a £39m loss.

Bosses revealed the financial challenges facing the business at a meeting last week, as they laid bare the impact of reduced revenues caused by a downturn in the advertising market. 

The publisher said it had lost £36m in the first nine months of 2023, with a further £3m loss expected by the end of the year.

The paper, which does not charge for online access, has been hit hard by a drop in demand from digital advertisers.

Looming cuts at The Guardian would follow sweeping layoffs at competitor Reach, which runs the Mirror, the Express and several regional titles.

The Scott Trust, a charitable organisation that owns both The Guardian and its sister paper, The Observer, considers the current financial situation “beyond acceptable or sustainable”.

Katharine Viner, editor-in-chief, has tried to ease concerns, according to The Sunday Times, telling staff that they should: “Worry, but not panic.”

Print newspapers have so many sections now compared to the old standard daily newspaper, assuming since news went online. If they go back to just news reporting and investigative journalism instead of endless opinion and lifestyle pieces (and celebrity tripe) then reproduce that online, then the world would be a better place and they could employ less staff and survive with less advertising. 
 

 

[A tremendous # on the lung]

7 hours ago, roundhouse said:

Print newspapers have so many sections now compared to the old standard daily newspaper, assuming since news went online. If they go back to just news reporting and investigative journalism instead of endless opinion and lifestyle pieces (and celebrity tripe) then reproduce that online, then the world would be a better place and they could employ less staff and survive with less advertising. 
 

 

They will just end up even more reliant on donations from very dubious actors ---> even more propaganda (if that's possible)

[dnb24]

https://www.pulsetoday.co.uk/news/breaking-news/swathes-of-gps-at-risk-of-redundancy-as-gp-at-hand-owner-announces-consultation/
 

140 GPS, 40 physios and around 20 mental health professionals to be made redundant at Emed UK.

[sleepwello'nights]

15 minutes ago, dnb24 said:

https://www.pulsetoday.co.uk/news/breaking-news/swathes-of-gps-at-risk-of-redundancy-as-gp-at-hand-owner-announces-consultation/
 

140 GPS, 40 physios and around 20 mental health professionals to be made redundant at Emed UK.

‘This process will not affect the service we provide to our NHS patients through GP at Hand or any of our private services,’ they added.

Its still difficult to get an appointment to see a GP where we live. My wife made an appointment last week. The earliest date available is mid April. Seems they have given up trying to meet the 14 day target. 

[dnb24]

37 minutes ago, sleepwello'nights said:

‘This process will not affect the service we provide to our NHS patients through GP at Hand or any of our private services,’ they added.

Its still difficult to get an appointment to see a GP where we live. My wife made an appointment last week. The earliest date available is mid April. Seems they have given up trying to meet the 14 day target. 

This is a private provider of GPS - to insurance companies like Bupa- the ones facing redundancy don’t see NHS patients. It shows how precarious the private health sector is 

[spygirl]

On 27/02/2020 at 06:49, spygirl said:

Brown people's credibility.

Two big stories in FT. Same Day.

The workings of Sanjeev Gupta’s empire

https://www.ft.com/content/5f279604-5719-11ea-a528-dd0f971febbc

See my Gupy/Libey thread.

Total fucked up penny shuffling.

And

NMC Health fires chief after finding bank discrepancies

https://www.ft.com/content/6ff6417a-58c1-11ea-abe5-8e03987b7b20

A joke this go even near AIM never mind the FTYSE. Hopefully EY and sued til they shit blood.

Total cluster fuck of brainless fuckwittery.

Just a total wow on all of this.

Almost identical to Steinhoff

 

My only found mention.

Ex-Steinhoff chief executive Markus Jooste dies of gunshot wound

South Africa’s regulator had inflicted Jooste with record $25mn fine for role in country’s biggest corporate scandal