In administration

[@Lee]

20 hours ago, gadgetman said:

You know things are bad when Bargain booze/Wine rack throw in the administrative towel. 

 

Parent company also supplies bars, pubs etc 

 

http://www.bbc.co.uk/news/business-43576991

Quote

"Drinks suppliers have been caught out by the relative weakness of the pound against the euro and the dollar following the 2016 Brexit vote, which has pushed up the costs of importing alcohol from European and New World suppliers.

At the same time, the bar chains Conviviality supplies have been trying hard to keep a lid on price rises on their menus against a background of weakening consumer spending."

https://www.ft.com/content/f19c30cc-3316-11e8-ac48-10c6fdc22f03

[Ootohere]

Happy Easter,  check out the drink prices if celebrating out someplace, especially the Soft Drink prices. 

 

Example of Drink prices i paid for at the weekend in a Hotel in the Central Belt of Scotland, nothing special place.

Carlings £4.60 a pint.

Bottled Lagers, beers, Ciders £4.50 - £6.00

White Wine £5.25 a glass.

Henrick's Gin £11.60 a measure,,,, ( WTF. a bottle is £28.

Made in Girvan from water and some other stuff, and then the crazy Premium, then taxes / duty, )

 

Pint of Coke £2.90   (that is from a scoosher and concentrate.)

1/2 pint lemonade £1.60

& a dash of black current 80 pence.     Robbing Barstewards, well their thieving bosses are..

 

.....................

Thank goodness for the likes of Wetherspoons where they sell food and drink and make profits and pay taxes.

[lol-lol]

2 hours ago, moley said:

Recession?

Retail companies struggling does not make a recession, usually there is a flaw in their business model, in the case of bargain booze a £30m tax bill, which is is bad accounting if you can't work out your tax liabilities.  Lets talk up a recession and get rid of the Tories. Then we can get Corbyn in and have a proper recession!

 

There is a difference in "struggling" and going out of business. Dozens of large companies are going out of business as they cannot keep their head above water due to the massive draining of disposable income since the BREXIT result, thousands of companies are struggling and letting staff go or not giving wage rises in line with inflation.  Current RPI-All items is 3.6% compared to wage rises and wage growth 1% per year less than this, each year for 2010 to 2015 this was the norm, only an actual rise in 2015-6, and then back to 1% YoY erosion since the BREXIT Vote.

 

Even if there was a change in government, or government direction, one cannot see the decline in living standards, productivity etc being reversed this decade.

 

Some bright spots though.  Starting threshold for higher rate rate going up by £1,350 (£350 for basic rate tax payers starting point) !    

[lol-lol]

1 hour ago, AwaoffSki said:

Happy Easter,  check out the drink prices if celebrating out someplace, especially the Soft Drink prices. 

 

Example of Drink prices i paid for at the weekend in a Hotel in the Central Belt of Scotland, nothing special place.

Carlings £4.60 a pint.

Bottled Lagers, beers, Ciders £4.50 - £6.00

White Wine £5.25 a glass.

Henrick's Gin £11.60 a measure,,,, ( WTF. a bottle is £28.

Made in Girvan from water and some other stuff, and then the crazy Premium, then taxes / duty, )

 

Pint of Coke £2.90   (that is from a scoosher and concentrate.)

1/2 pint lemonade £1.60

& a dash of black current 80 pence.     Robbing Barstewards, well their thieving bosses are..

.....................

Thank goodness for the likes of Wetherspoons where they sell food and drink and make profits and pay taxes.

 

Wetherspooons have low prices on their alcohol but their food is just awful in my experience, taste like nasty ready-meals so not good value at all.        

 

 

[Ootohere]

Your national food is not a Battered Pizza and the Drink no longer with so much sugar but still made of girders.

So each to their own likes and tastes.

 

Some just like a steak done as they like for under £7, and not needing to pay a £9 or £12 quid supplement when already paying £25 a head.

Or a plate of fish and chips and mushy peas and a alcoholic drink for £6.65.

http://jdwetherspoon.com 

http://jdwetherspoon.com/food 

Edited 29 March, 2018 by AwaoffSki

[moley]

5 minutes ago, lol-lol said:

 

There is a difference in "struggling" and going out of business. Dozens of large companies are going out of business as they cannot keep their head above water due to the massive draining of disposable income since the BREXIT result, thousands of companies are struggling and letting staff go or not giving wage rises in line with inflation.  Current RPI-All items is 3.6% compared to wage rises and wage growth 1% per year less than this, each year for 2010 to 2015 this was the norm, only an actual rise in 2015-6, and then back to 1% YoY erosion since the BREXIT Vote.

 

Even if there was a change in government, or government direction, one cannot see the decline in living standards, productivity etc being reversed this decade.

Massive drain since Brexit?

Looking back at 2008 -2009 inflation was higher and wage growth lower, how did we survive?

[Dr Zoidberg]

2 minutes ago, moley said:

Massive drain since Brexit?

Looking back at 2008 -2009 inflation was higher and wage growth lower, how did we survive?

 

Thing about inflation and wage stagnation is that the effects are cumulative.

 

Have a single year where inflation outstrips wages by 2% and the effects are minimal.
Do the same thing for another 7 or 8 years and you'll really notice the difference.

 

Anyway, bringing it back on topic, Grainger Games have closed with very little notice.

https://www.chroniclelive.co.uk/business/business-news/game-over-grainger-games-closes-14472108

Not the largest retailer to fail, but they were about the only regional competition for Game.

[Ootohere]

http://gov.uk/minimum-wage-different-types-work/paid-by-the-hour 

 

Theresa as she flies around the country a year before BREXIT should look at the Hourly Rates many gets and think on, 

and just what the future holds.  

[lol-lol]

34 minutes ago, moley said:

Massive drain since Brexit?  Looking back at 2008 -2009 inflation was higher and wage growth lower, how did we survive?

 

 

Difference is we had ten years of pretty good economic activity 1997-2007 but the last 8 have been horrible for millions and the national debt has gone up hugely as well.....

 

https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/timeseries/hf6w/pusf

 

[CWARD]

1997-2007 was 10 years of living on borrowed money. People went on a spending spree with money they hadn’t earned. House prices tripled and a generation won’t be able to afford to enter the housing market. The gap between the rich and poor grew at its fastest rate. Sorry if I didn’t not celebrate that period of economic activity. 

Edited 29 March, 2018 by CWARD

[Titanium_Man]

I for one am in a much, much better financial position that In 1997 and 2007. No debt at all and at least 5 times the disposable income. Oh, and I got on the property ladder. 

 

It’s not as bad as some make out. 

 

[@Lee]

GKN about to be flogged off cheap now by the look of it.

 

[Bignij]

4 hours ago, AwaoffSki said:

Happy Easter,  check out the drink prices if celebrating out someplace, especially the Soft Drink prices. 

 

Example of Drink prices i paid for at the weekend in a Hotel in the Central Belt of Scotland, nothing special place.

Carlings £4.60 a pint.

Bottled Lagers, beers, Ciders £4.50 - £6.00

White Wine £5.25 a glass.

Henrick's Gin £11.60 a measure,,,, ( WTF. a bottle is £28.

Made in Girvan from water and some other stuff, and then the crazy Premium, then taxes / duty, )

 

Pint of Coke £2.90   (that is from a scoosher and concentrate.)

1/2 pint lemonade £1.60

& a dash of black current 80 pence.     Robbing Barstewards, well their thieving bosses are..

 

.....................

Thank goodness for the likes of Wetherspoons where they sell food and drink and make profits and pay taxes.

‘kin ‘ell. At least D!ck Turpin wore a mask. 

Edited 29 March, 2018 by Bignij

[lol-lol]

8 hours ago, jars said:

I for one am in a much, much better financial position that In 1997 and 2007. No debt at all and at least 5 times the disposable income. Oh, and I got on the property ladder.  It’s not as bad as some make out.   

 

Similar for me but is society fairer and heading in the right direction?  

 

Business going in to administration due to the economic climate which is clearly due to a combination of a failure to recover from the last recession in 2008-09 and now this downturn from the UK heading to leave the EU.

 

Some are benefiting very nicely from today's tax structures, lower corporate tax, lower higher rates of income tax and some suffering ie our millions of nurses, teachers and other public servants who were not directly responsible for the cascade collapses which started in New York and rippled round the western world.

 

Businesses have clearly been caught out by this latest downturn, there are huge bargain to be had in new cars as the seller market shrinks as there is much less purchasing pounds around.  We will see if the round of pay rises which usually come out in April for the new tax year and if that partially restores people's disposable income but we have seen the return on inflation and this is being followed by the return of higher bank lending interest rates on loans, mortgages, credit cards that oils the wheels of every county's finance and businesses. 

 

Bristol will be one of the cities, like Birmingham, London and over 40 other cities that will start charging old diesels from entering the city so perhaps that will spur the UK economy for you to buy one or two nice clean petrol cars or contribute to Bristol's local tax collecting for entering the city ?   Installing all the number plate recognition devices and systems for lots of ULEZs will be one growth area and provide some jobs for those lost in all these companies going in to administration or liquidation due to the faltering economy.     

 

[gadgetman]

On 29/03/2018 at 18:26, jars said:

I for one am in a much, much better financial position that In 1997 and 2007. No debt at all and at least 5 times the disposable income. Oh, and I got on the property ladder. 

 

It’s not as bad as some make out. 

 

Probably like you, since then I've reduced debt and borrowing as much as I can and try not to use the credit card or buy things I could do without, or the current model/item/product  is still going strong. 

 

Problem is far too many businesses  make too many each day/year and rely on a throw away society 

[lol-lol]

1400 jobs "saved" at PSA Vauxhall Luton.  UK gov had to bung PSA 9 million pound sweetener though reportedly.

[CWARD]

Some really sad people can only report doom and gloom. If they found a pot of gold at the end of rainbow, they’d still be a miserable old fart

[@Lee]

11 minutes ago, CWARD said:

Some really sad people can only report doom and gloom. If they found a pot of gold at the end of rainbow, they’d still be a miserable old fart

Perhaps one of you more upbeat people could report some of the benefits the UK will be getting. They're in rather short supply aren't they?
How about you talk the country up for a change  

[Skodaboy1983]

41 minutes ago, lol-lol said:

1400 jobs "saved" at PSA Vauxhall Luton.  UK gov had to bung PSA 9 million pound sweetener though reportedly.

Is this the new vivaro and pug and Citroen equalivents being produced at Luton?

 

Davy

[CWARD]

3 minutes ago, Lee01 said:

Perhaps one of you more upbeat people could report some of the benefits the UK will be getting. They're in rather short supply aren't they?
How about you talk the country up for a change  

 

@Lee01 you may have gotten lost. This “In Administration” thread not the Brexit one although Lol-lol keeps trying to turn it into one. 

[Ootohere]

When are UKIP going into Administration?

[CWARD]

Unfortunately they’re still hanging in there 

[Bignij]

11 hours ago, lol-lol said:

1400 jobs "saved" at PSA Vauxhall Luton.  UK gov had to bung PSA 9 million pound sweetener though reportedly.

In the great scheme of things, £9 million is pocket fluff to keep 1400 jobs going. Compared to the 'bungs' given to the other car companies to stay here it's a steal.  

[lol-lol]

11 hours ago, Skodaboy1983 said:

Is this the new vivaro and pug and Citroen equalivents being produced at Luton?

Davy

 

It is the new Vivaro which will be available in several power-trains and working for someone who produces electric vehicles, including buses and is tasked with the setting up of thousands of charge points the role out of more electric vehicles in the UK is great news for clean air.

 

Uk government, in addition to the £9m, is promising continued duty free access to the EU )and visa versa of course) so that does colour the trade deals and automony the Uk will have in the next decade !

 

http://www.itv.com/news/2018-04-04/van-production-at-luton-to-rise-despite-brexit-anxiety/

[lol-lol]

4 hours ago, Bignij said:

In the great scheme of things, £9 million is pocket fluff to keep 1400 jobs going. Compared to the 'bungs' given to the other car companies to stay here it's a steal.  

 

Yes it is probably worth the 9 million support package as the 1400 workers, and probably as many again in Tier 1 and 2 suppliers to the van plant, will pay far more than that in PAYE, National Insurance and indirect taxes such as VAT on their wages that they get and they spend.

 

The big one will be the Vauxhall PSA plant at Ellesmere Port that produces the Astra and has already dropped to a single shift set up and PSA have already indicated they are looking at the viability compared to other plants ie Poland which is in the EU and will not require customs entries, origin calculations and has lower wages.  

 

The big question is whether other companies can/should expect as 10% bung (co-incidentally the same level as the customs duty for vehicles in to the EU)  to survive and if one does not get it will those voters feel they are not in a preferential business/industry?