In administration

[gadgetman]

Unsurprisingly, Debenhams next to fall. 

[PetrolDave]

Just now, gadgetman said:

Unsurprisingly, Debenhams next to fall. 

I've been a member of the "Debenhams Design Team" for several years and have been telling them repeatedly that their offering is way out of date and fails to appeal to any age group, unsurprisingly I've never won one of the £50 vouchers which all contributors are supposedly entered into a draw for.

[@Lee]

3 hours ago, PetrolDave said:

I was under the impression that it's the Arcadia pension fund that is being talked about at the moment, or am I wrong?

That's how I read it as well. BHS and Arcadia = two separate pension funds but could be wrong? 

[gadgetman]

5 hours ago, Lee01 said:

That's how I read it as well. BHS and Arcadia = two separate pension funds but could be wrong? 

Both Green's companies though, and both with holes in.... 

 

One could say that's deeply unlucky to happen twice 

[J.R.]

Time for a midnight swim from the yacht.

[Ootohere]

BiFab goes under eventually. 

 

With a loss of many millions of squids of tax payers money because they never got work that went abroad and will still be costing millions of tax payers money.

http://bbc.co.uk/news/uk-scotland-55172349

 

[mac11irl]

not gone under, but Carphone Warehouse anmiunced today they are pulling out of the Irish market entirely, closing their branches with immediate effect. about 400 layoffs. some staff being kept on temporarily for administrative duties. ie the lads tasked with shutting everything down and sorting out the stock for return to suppliers etc. 

[gadgetman]

19 hours ago, mac11irl said:

not gone under, but Carphone Warehouse anmiunced today they are pulling out of the Irish market entirely, closing their branches with immediate effect. about 400 layoffs. some staff being kept on temporarily for administrative duties. ie the lads tasked with shutting everything down and sorting out the stock for return to suppliers etc. 

Would this not be simply having sections in Curry's as with UK? 

[mac11irl]

36 minutes ago, gadgetman said:

Would this not be simply having sections in Curry's as with UK? 

 

im not sure, the news was basically saying the company is seizing to trade in ireland, which to me would include the currys counters. ill have to look into it a bit further. either way the shops are gone, and therent many currys branches here anyway..

 

 

edit - 

yup, keeping the currys counters (for now anyway) 

and Harvey Norman has said that any CPWH staff who want to apply can basically walk into a job with them which is sound. still **** for our loval branch though, the nearest currys or HN is 40-50miles away...

Edited 22 April, 2021 by mac11irl

[Ootohere]

Accountancy firm Grant Thornton fined £2.3 million on failures over Patisserie Valerie audit. 

 

Discounted by £2.34 Million.  

http://bbc.co.uk/news/business-58671915

 

Edited 27 September, 2021 by e-Roottoot

[@Lee]

On 29/01/2020 at 22:25, moley said:

Norton Motorcycles goes into administration

https://www.bbc.com/news/business-51303905

 

On 03/02/2020 at 17:36, @Lee said:

 

https://www.theneweuropean.co.uk/top-stories/norton-motorcycles-goes-into-administration-1-6496163?utm_source=Facebook

 

[lol-lol]

1 hour ago, @Lee said:

 

 

 

Norton was a great business back in about 1972 and has been a hotch potch since then with the noticable exception of the rotary ****el era and whilst the road bikes were wierd, police ran quite a few, the racing rotary, much like the Mazda rotary, was phenominal for example with Steve Hislop, RIP, on in the IoM, crackling like a two stroke, magic. 

https://www.youtube.com/watch?v=VnYD8EOW3MU

 

 

 

[lol-lol]

Or the twin rotor Norton in JPS Black....

 

https://youtu.be/fLnE3J7j1Ss

 

[Ootohere]

Whatever P&O Ferries are up too is going to affect people somewhere.  Not just taking all the ships into port now.   So not Administration or into Receivership but something else.  Maybe @lol-lolhas a sniff of what is happening.  

[@Lee]

14 minutes ago, roottoot said:

Whatever P&O Ferries are up too is going to affect people somewhere.  Not just taking all the ships into port now.   So not Administration or into Receivership but something else.  Maybe @lol-lolhas a sniff of what is happening.  

See my post in Shortages, George. Possibly due to sanctions.

[Ootohere]

Yes sorry a read the Shortages thread and your post after posting. 

 There is no shortage of cheaper labour around if companies are looking for that. 

[@Lee]

Looks like all staff made redundant but can take up agency work!

 

[Ootohere]

'Safe Hands' 

 A funeral Plan provider with 45,000 customers in the UK.  http://bbc.co.uk/news/business-60861793

 

 Is this a failing of Government once again if a company can take customers money and it is not safely held in accounts that can not just be squandered.

 

New rules are from the 29th July with the FCA giving consumers far better protection.       

So for now people can be robbed blind by incompetents or those that might well have profited very well and get to walk off with others money .

Edited 24 March, 2022 by roottoot

[cheezemonkhai]

42 minutes ago, roottoot said:

'Safe Hands' 

 A funeral Plan provider with 45,000 customers in the UK.  http://bbc.co.uk/news/business-60861793

 

 Is this a failing of Government once again if a company can take customers money and it is not safely held in accounts that can not just be squandered.

 

New rules are from the 29th July with the FCA giving consumers far better protection.       

So for now people can be robbed blind by incompetents or those that might well have profited very well and get to walk off with others money .

 

I think that the new rules are around customer protection, and indeed make requirements about the money being ringfenced, plus protections from dodgy sales practices etc.

 

People can always go after the directors if the company folds and take the money, so I'd expect to see some sort of class action against the directors of the company.

 

I agree it's very wrong these people can sell, then take the money and shut down when the rules come out.

At the end of the day, it's almost impossible to regulate before you know what you're dealing with, but I too find it hard that these people take the money and can run with it. Sadly the rules need to come in to reduce this happening in future and the fact the company refuses to be assessed on the new rules poses many questions.

[@Lee]

48 minutes ago, roottoot said:

So for now people can be robbed blind by incompetents or those that might well have profited very well and get to walk off with others money .

Government won't be happy about that - that's their job.

[Ootohere]

All these years after people lost their Christmas Club money they eventually regulate Funeral Schemes. 

[cheezemonkhai]

I mean it's worth saying these companies could sell their books onto another provider who is regulated or indeed fully refund their customers and we won't know which ones do the right thing and which ones don't until the deadlines have passed.

[Ootohere]

These have always been Insurance Policies or so customers might have believed.    Pay your money and get buried, no cost to loved ones, maybe get an Amazon Voucher.

Unregulated will have others ready to just fold their hand before regulations arrive a decade late.

[Ootohere]

Britishvolt

Could fall into administration.  http://bbc.co.uk/news/business-63457813

 

Thankfully the UK Government is not putting in more public money. 

Job creation is important, but really if things are not viable & going to be making profits so that those fossil fuel & renewable energy companies drowning in money to  finance why should the UK tax payers. 

[@Lee]

It's almost as if Johnson's bluster about a ten point plan for the green economy which would create 250,000 British jobs in a new "green industrial revolution" was a load of horse 💩
https://www.gov.uk/government/news/pm-outlines-his-ten-point-plan-for-a-green-industrial-revolution-for-250000-jobs
https://www.theguardian.com/environment/2020/nov/17/the-key-areas-of-boris-johnsons-green-industrial-revolution
 

And as for a clean environment, St. Agnes in Cornwall wasn't looking very green yesterday. More brown I think than green.