Crashing Companies

[Imelda 604]

17 hours ago, Grim Up North said:

 

Well that's a shocker - Kitkats cost more than a £1 now!?!?!

 

The Norfolk version does - it has six fingers.

 

Boom-tish.

 

[maryportfuncity 10,013]

Richard Branson's Virgin Orbit are no more - the sums here are staggering, valued at $3.7 billion a couple of years back they've recouped $36 million from asset sales now, i.e. less than 1% of their 2021 value. 

 

https://www.bbc.co.uk/news/business-65692302

[time 7,950]

Lots of twitterchat about the demise of Network DVD. Website offline.

[msc 17,760]

15 minutes ago, time said:

Lots of twitterchat about the demise of Network DVD. Website offline.

They've been completely shut down and first staff knew was when the liquidation team arrived in the office. 

 

Frankly horrible news for all of us who like niche archive TV. 

[maryportfuncity 10,013]

With all due respect to international airlines, estate agents and major car manufacturers facing financial challenges this inflation shit just got serious - the British chip shop facing an uncertain future. Did my bit to maintain the industries fortunes on Tuesday (medium cod and large chips - the second one because Mrs MPFC scavenges the large chips and I end up with a standard portion as a result). Serious point, because this isn't BA, Purple Bricks etc. the decline of the industry won't be marked by a big headline suggesting some national treasure or too big to fail entity is on the brink - so respect to this fine newspaper for sounding the alarm.

 

 

 

. 

[Slackhurst Broadcasting 333]

Network closing is depressing news, but it's been on the cards for some time. But they had a long run and put out a ton of worthwhile stuff - indeed I think part of the problem of the last few years was that they'd already done so many of the best-remembered 60s-70s shows, so there wasn't the former space for a balance between likely sellers and more obscure titles.

[Whitehouse 821]

Not a company per sé. In 2021 Airbus killed off it's A380. This week the last of the Belugas rolled off the production line.

 

Mind you, there are only six flying.

[Kenny 282]

The Empire has collapsed - https://www.bbc.co.uk/news/business-66134084.

[Sir Creep 7,012]

Christmas Tree Shops is closing all 73 locations.  This sucks, our local one was a great place to find seasonal stuff and oddities for the home.

SC

[lilham 649]

2 hours ago, Sir Creep said:

Christmas Tree Shops is closing all 73 locations.  This sucks, our local one was a great place to find seasonal stuff and oddities for the home.

SC

That's one of those stores I had no idea what it was until I actually was dragged into one. Ocean State Job Lot was another.

It had me reevaluate some conversations I had where I thought the other person was just really into wreaths.

[Comped 361]

3 hours ago, Sir Creep said:

Christmas Tree Shops is closing all 73 locations.  This sucks, our local one was a great place to find seasonal stuff and oddities for the home.

SC

According to a manager at my closest one, there's 2 interested buyers apparently. No idea if there's going to be a deal though!

[Sir Creep 7,012]

12 hours ago, lilham said:

That's one of those stores I had no idea what it was until I actually was dragged into one. Ocean State Job Lot was another.

It had me reevaluate some conversations I had where I thought the other person was just really into wreaths.

Same here.  The name is limiting (ie awful) but it was almost a ‘go there first before going to larger stores’ place once we saw what was in there.

[Clorox Bleachman 2,011]

Karen's Diner has collapsed after owing $4.3m AUD.

https://www.news.com.au/finance/business/retail/restaurant-chain-karens-diner-collapses-owing-43-million-hobart-restaurant-owed-6k/news-story/160161f6c2af2b0b0cf02186f52befda

 

...But not before inspiring the headline of the year!

"Anne Nolan who went to Karen's Diner for 'lovely Sunday lunch' called 'dirty bitch' and made to dance"

[Ulitzer95 11,019]

50 minutes ago, Clorox Bleachman said:

Karen's Diner has collapsed after owing $4.3m AUD.

https://www.news.com.au/finance/business/retail/restaurant-chain-karens-diner-collapses-owing-43-million-hobart-restaurant-owed-6k/news-story/160161f6c2af2b0b0cf02186f52befda

 

...But not before inspiring the headline of the year!

"Anne Nolan who went to Karen's Diner for 'lovely Sunday lunch' called 'dirty bitch' and made to dance"

Pretty much clickbait.

It's their pop-up restaurants that have gone under – they're owned by a different company.

Their main Sydney chain, and all the UK locations remain unaffected as it's a different owner.

[Genfærd 421]

Lauritz.com, one of Northern Europes biggest online auction houses, gone bankrupt (english text in the bottom).

 

Buyers and sellers are owed at least 5.7 million pounds. Really shitty situation all around.

 

[time 7,950]

After 127 years United States' oldest craft brewery Anchor Brewing is to close.

[Sir Creep 7,012]

10 hours ago, time said:

After 127 years United States' oldest craft brewery Anchor Brewing is to close.

Well for starters, that sucks.  Anchor Steam is a fine beverage.

Secondly, there was a documentary made about the brewery (circa 1990 maybe, on PBS) that was virtually dead in the 1970s but one guy kept it ‘active’ making a few vats a year.  Thanks to him it maintained its claim as oldest active brewery.  At some point it got wider distribution and became slightly popular.  They must have overextended themselves or summat to end up failing.  This is sad news.

[Imelda 604]

18 hours ago, Sir Creep said:

they must have overextended themselves or summat to end up failing.  This is sad news.

 

Not quite - they were brought by Sapporo a few years ago.

 

When San Francisco’s Anchor Brewing Co. announced on Wednesday that it was ceasing operations after 127 years, the company cited economic hardships — including a decline in revenue by two-thirds since 2016, the pandemic and inflation — as the culprits. But many former Anchor employees aren’t buying the company’s story. 

Instead, they’re pointing the blame at Japanese beer giant Sapporo, which purchased the brewery in 2017 for $85 million. They spoke to The Chronicle about what they believe led to Anchor’s demise, including a controversial rebrand and Sapporo’s acquisition of Stone Brewing last year. 

 

https://www.sfchronicle.com/food/wine/article/anchor-steam-sapporo-18196825.php

[Imelda 604]

Wilko circling the drain

 

https://news.sky.com/story/wilko-owners-explore-sale-in-race-to-salvage-chains-future-12924086

 

Given the steep downward trajectory of my local store over the last few years I can't say I'm surprised. I hope they get bought-out and turned round by people who know what they're doing.

[Bibliogryphon 8,650]

19 minutes ago, Imelda said:

Wilko circling the drain

 

https://news.sky.com/story/wilko-owners-explore-sale-in-race-to-salvage-chains-future-12924086

 

Given the steep downward trajectory of my local store over the last few years I can't say I'm surprised. I hope they get bought-out and turned round by people who know what they're doing.

 

Prices are now no cheaper than supermarkets and the stock has been dwindling for years. Competition from stores like B&M can't have helped either

[Imelda 604]

18 hours ago, Bibliogryphon said:

 

Prices are now no cheaper than supermarkets and the stock has been dwindling for years. Competition from stores like B&M can't have helped either

 

In mine they got rid of almost all the manned tills in favour of self-service (don't get me started on that ruse) but didn't actually take out the old tills for proper self-service machines. Absolute mess and takes longer now than it ever did to get your stuff paid-for.

 

I don't go in there much now, pissed me off enough.

[Toast 14,838]

1 hour ago, Imelda said:

In mine they got rid of almost all the manned tills in favour of self-service (don't get me started on that ruse) but didn't actually take out the old tills for proper self-service machines. Absolute mess and takes longer now than it ever did to get your stuff paid-for.

 

Yes, I hate that.

I'd be sad to see Wilko go though, as their stuff is usually good quality and value and they are on the high street.  The likes of B&M and Home Bargains are useful but their stock is more inconsistent and they tend to be outside the town centre. 

[Sly Ronnie 609]

This has been kept relatively quiet but The Telegraph newspaper is up for auction after been taken into receivership last month with debts if £1bn.

 

https://www.telegraph.co.uk/business/2023/07/28/goldman-sachs-to-run-auction-of-the-telegraph/

[prussianblue 787]

1 hour ago, Sly Ronnie said:

This has been kept relatively quiet but The Telegraph newspaper is up for auction after been taken into receivership last month with debts if £1bn.

 

https://www.telegraph.co.uk/business/2023/07/28/goldman-sachs-to-run-auction-of-the-telegraph/

 

If 'Go woke, go broke' were true, surely the Torygraph would be in rude health? 

[TQR 12,135]

I blame the wokeremoanerleftyblob.