Crashing Companies

[the_engineer 1,415]

14 minutes ago, Squonk said:

 

To be honest, I was surprised when I read the story - I thought they'd already gone....

 

I've heard a few people say that.

[msc 18,487]

12 minutes ago, the_engineer said:

 

I've heard a few people say that.

 

To be honest, I was surprised when I read the story - I thought they'd already gone....

 

 

 

 

 

 

 

 

[the_engineer 1,415]

24 minutes ago, msc said:

 

To be honest, I was surprised when I read the story - I thought they'd already gone....

 

 

 

 

 

 

 

 

 

It's like bloody groundhog day in this thread. 

[Weebl 216]

3 hours ago, the_engineer said:

https://news.sky.com/story/2200-jobs-at-risk-as-hmv-on-brink-of-administration-11593091

 

HMV have finally given up the ghost, I knew they were in trouble when they started shutting their big stores in scotland, liverpool, london etc.

 

This will most likely be the final nail in music CD's coffin.

 

They were something of an anachronism in 2018 to be honest.

 

People still buy CDs and DVDs - I know I do - but the need for bricks and mortar retailers selling those items is no longer there.

 

It's just one more example of how the Internet has changed everything about the way that people live their lives.

 

Looking forward to being able to tell young people in the future that I remember a time when there were only 4 TV channels, there was no Internet, no smartphones, and computers were so primitive that you had to load the games on tapes, disks and cartridges that made funny noises when you connected them!

[Toast 16,156]

36 minutes ago, Weebl said:

Looking forward to being able to tell young people in the future that I remember a time when there were only 4 TV channels, there was no Internet, no smartphones, and computers were so primitive that you had to load the games on tapes, disks and cartridges that made funny noises when you connected them!

 

<in Four Yorkshiremen sketch voice>

 

4 TV channels?  You were lucky!

I remember when there were only 2 channels, and we could only get BBC anyway because my parents didn't buy a new telly for years after ITV started.

[Weebl 216]

4 minutes ago, Toast said:

 

<in Four Yorkshiremen sketch voice>

 

4 TV channels?  You were lucky!

I remember when there were only 2 channels, and we could only get BBC anyway because my parents didn't buy a new telly for years after ITV started.

 

Yeah most of the 80s and 90s. I remember when the Spice Girls did the opening show for Channel Five as well!

 

I bet you half the time on BBC it was just the staring girl and the creepy clown playing naughts and crosses during the day anyway wasn't it?

 

When I was a kid that was on late night and early mornings, along with all that Teletext pages and stuff like that, but I don't remember a time when actual programmes weren't on during what would be considered normal daytime!

[Toast 16,156]

No, I mean in the 60s - there was only BBC and ITV.  No BBC2, that came much later.

I don't remember there not being ITV, just that we couldn't get it on our minuscule old telly.  I think my parents were one of the first locally to get a TV, but then they always kept things until they completely wore out.  Unlike others who always bought the latest thing as soon as it came out.

[Paul Bearer 6,117]

2 hours ago, Toast said:

 

<in Four Yorkshiremen sketch voice>

 

4 TV channels?  You were lucky!

I remember when there were only 2 channels, and we could only get BBC anyway because my parents didn't buy a new telly for years after ITV started.

 

I remember these days too. Only 2 channels, both in monochrome (posh word for black and white) bbc2 came around 1968 and broadcast in colour. We didn't get a colour tv until about 1977. I'm also pretty sure the TVs companies stopped broadcasting for an hour or so on Sunday's as their 'God slot'. 

[the_engineer 1,415]

2 hours ago, Weebl said:

 

Yeah most of the 80s and 90s. I remember when the Spice Girls did the opening show for Channel Five as well!

 

I bet you half the time on BBC it was just the staring girl and the creepy clown playing naughts and crosses during the day anyway wasn't it?

 

When I was a kid that was on late night and early mornings, along with all that Teletext pages and stuff like that, but I don't remember a time when actual programmes weren't on during what would be considered normal daytime!

 

I remember when channel 5 launched my dad messing with tuner to get a good picture, it was a static mess. It was like that for many years for us until we got a sky around christmas 99,and we finally able to see channel 5 clearly.

[Weebl 216]

Anyway, drove past HMV today. Sale on, not sure if that's just the norm or what at this time of year.

[Sir Creep 7,070]

Beauty Brands, a salon and spa retailer launched in Kansas City in 1995, has filed for bankruptcy.

Just weeks after announcing the closing of 25 stores and reduction of corporate staff, Beauty Brands on Sunday filed for Chapter 11 bankruptcy.

At the same time, the company has entered into what’s known in the bankruptcy world as a stalking horse bid arrangement to sell its operating assets to Illinois-based Hilco Merchant Resources LLC, absent a higher and better offer from another bidder. Any sale of Beauty Brands’ assets would have to be confirmed by a bankruptcy judge.

Beauty Brands’ 33 remaining stores in 10 states will continue operating, including its 14 locations in Kansas City.

SC

[Sir Creep 7,070]

On 15/10/2018 at 05:50, Grim Up North said:

 

What goes around comes around. 

 

Sears files for Chapter 11 bankruptcy protection

Sears plans to liquidate after 126 years in business.

Sears Holdings has rejected Chairman Eddie Lampert's bid to save the 126-year-old company, setting the storied retailer with more than 50,000 employees on a path to liquidation, people familiar with the situation told CNBC on Tuesday. Sears, which also owns Kmart, planned to announce its liquidation plans Tuesday morning, the people said.

Lampert had put forward a $4.4 billion bid to save Sears by buying it out of bankruptcy through his hedge fund ESL Investments. His offer, though, was deemed insufficient by Sears' advisors, the people said. One of the biggest unresolved issues was covering the fees and vendor payment it owes, making it "administratively insolvent."

Still, ESL plans to protest Sears' decision. ESL, which worked over the weekend to improve its offer, will point to the extensive advisory fees that Sears has racked up during bankruptcy. Such fees are part of Sears' administrative expenses.

Sears on Tuesday morning pushed back a bankruptcy court hearing originally scheduled for 10:00 a.m, allowing for the possibility of a last minute resolution.

 

Sears' last profitable year was in 2010. For the past five years, the ratio of Sears' capital expenditures to sales has been less than 1 percent, even as its sales have more than halved in the same time period. Sears had a little under 700 stores when it filed for bankruptcy in October, but it has since whittled that down to an expected footprint of roughly 400. It employed 68,000 workers at the time of its filing.

SC

[alt obits guy 3,371]

9 hours ago, Sir Creep said:

Sears plans to liquidate after 126 years in business.

Sears Holdings has rejected Chairman Eddie Lampert's bid to save the 126-year-old company, setting the storied retailer with more than 50,000 employees on a path to liquidation, people familiar with the situation told CNBC on Tuesday. Sears, which also owns Kmart, planned to announce its liquidation plans Tuesday morning, the people said.

Lampert had put forward a $4.4 billion bid to save Sears by buying it out of bankruptcy through his hedge fund ESL Investments. His offer, though, was deemed insufficient by Sears' advisors, the people said. One of the biggest unresolved issues was covering the fees and vendor payment it owes, making it "administratively insolvent."

Still, ESL plans to protest Sears' decision. ESL, which worked over the weekend to improve its offer, will point to the extensive advisory fees that Sears has racked up during bankruptcy. Such fees are part of Sears' administrative expenses.

Sears on Tuesday morning pushed back a bankruptcy court hearing originally scheduled for 10:00 a.m, allowing for the possibility of a last minute resolution.

 

Sears' last profitable year was in 2010. For the past five years, the ratio of Sears' capital expenditures to sales has been less than 1 percent, even as its sales have more than halved in the same time period. Sears had a little under 700 stores when it filed for bankruptcy in October, but it has since whittled that down to an expected footprint of roughly 400. It employed 68,000 workers at the time of its filing.

SC

Not dead yet.

 

https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html

 

[YoungWillz 21,076]

Retail sales plunge, Jaguar Land Rover cutting 4500 additional jobs, Ford warnings of job losses....under the Tories?

 

I thought it was only Scotland that lost jobs when they were in power....

[philheybrookbay 439]

The Christmas trading figures for Debenhams were dreadful. Down over 3% year on year. 

 

Talking to creditors which are progressing well. Having been in the store last week, if it’s here this time next year then I’ll be very surprised.

[the_engineer 1,415]

2 days left to save HMV. Personally I think they're fucked unless the music or movie industry comes to their rescue.

 

You'd think it would make good business sense for a big hollywood movie or music company to buy HMV keep the smaller shops open and only sell entertainment made by said company. i.e movies only made by warner bros etc if warner bros ( Just and example I know warner bros won't buy HMV) bought them. 

 

https://news.sky.com/story/hmv-bid-deadline-looms-as-administrator-calls-the-tune-11606590

[Toast 16,156]

Save Nipper!

 

[JQW 283]

13 hours ago, the_engineer said:

2 days left to save HMV. Personally I think they're fucked unless the music or movie industry comes to their rescue.

 

You'd think it would make good business sense for a big hollywood movie or music company to buy HMV keep the smaller shops open and only sell entertainment made by said company. i.e movies only made by warner bros etc if warner bros ( Just and example I know warner bros won't buy HMV) bought them. 

 

https://news.sky.com/story/hmv-bid-deadline-looms-as-administrator-calls-the-tune-11606590

 

Oddly Warner Brothers do own the rights and back catalogue of the old His Master's Voice record label, and even pressed up some classical CDs on that label recently to be sold exclusively through HMV stores.

[the_engineer 1,415]

28 minutes ago, JQW said:

 

Oddly Warner Brothers do own the rights and back catalogue of the old His Master's Voice record label, and even pressed up some classical CDs on that label recently to be sold exclusively through HMV stores.

 

Wow I didn't even know that. How weird if warner brothers did buy them.

[The Old Crem 3,608]

On 10/01/2019 at 17:02, philheybrookbay said:

The Christmas trading figures for Debenhams were dreadful. Down over 3% year on year. 

 

Talking to creditors which are progressing well. Having been in the store last week, if it’s here this time next year then I’ll be very surprised.

Lakeside Shopping Centre in Essex would soon be at risk of closing if it lose Debenhams as well as House of Fraser which shuts in March.

[alt obits guy 3,371]

15 hours ago, the_engineer said:

2 days left to save HMV. Personally I think they're fucked unless the music or movie industry comes to their rescue.

 

You'd think it would make good business sense for a big hollywood movie or music company to buy HMV keep the smaller shops open and only sell entertainment made by said company. i.e movies only made by warner bros etc if warner bros ( Just and example I know warner bros won't buy HMV) bought them. 

 

https://news.sky.com/story/hmv-bid-deadline-looms-as-administrator-calls-the-tune-11606590

HMV Canada closed in spring 2017. Tough to stay in competition with online shopping and streaming services.

[philheybrookbay 439]

19 hours ago, The Old Crem said:

Lakeside Shopping Centre in Essex would soon be at risk of closing if it lose Debenhams as well as House of Fraser which shuts in March.

There does appear to be a sort of rationalisation happening between House of Fraser and Debenhams here in Devon. House of Fraser is closing in Exeter but keeping Debenhams whereas I can see the opposite happening in Plymouth. What’ll happen to the small store in Torquay for House of Fraser remains to be seen, but as it’s in a prime location on the seafront and there’s a bit more money with a Debenhams next door. 

 

With Mike Ashley so involved something has to give, and I’m of the thoughts Debenhams will go leaving House of Fraser in Torquay and Plymouth and with John Lewis as the only department store in Exeter. 

[the_engineer 1,415]

https://news.sky.com/story/patisserie-valerie-collapses-into-administration-11614744

 

Patisserie valerie has gone into administration.

[Sir Creep 7,070]

From Fortune 500 to can you loan me 500....

 

Unable to cope with wildfire claims, PG&E made good on its vow to file for bankruptcy Tuesday, launching a perilous journey with major implications for ratepayers, investors, state officials and the thousands of California wildfire victims who are suing the utility.

Citing “extraordinary financial challenges” and a rapidly deteriorating cash position, Pacific Gas and Electric Co. and its parent PG&E Corp. sought Chapter 11 bankruptcy protection in an electronic filing shortly after midnight. The company’s most pressing concern is “over $30 billion in potential exposure” from the 2017 and 2018 wildfires, according to court papers, including the November Camp Fire in Butte County.
SC

[Imelda 621]

Oddbins calls in the administrators

 

https://www.bbc.co.uk/news/business-47085479

 

There are a number of plausible 'blame Brexit' scenarios for companies that are struggling, but a high st booze merchant going under certainly isn't one of them