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Crashing Companies

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1 hour ago, The Old Crem said:

 

Drayton Manor theme park on the brink.

Drayton Manor saved

 

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24 minutes ago, Bentrovato said:

My goodness, just think how they'd struggle if they paid the proper rate of corporation tax.

 

 

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On 17/05/2020 at 10:33, theoldlady said:

The department store JC Penny has filed for bankruptcy. It has been a Mall anchor-store for many years. Very sad indeed! Hopefully they will be able to restructure their debt under the Chapter 11 guidelines and save thousands of jobs. They employ 80,000 people in the USA. 

 

There may be life in  the old dog yet. "JC Penney: Landlords plot rescue for department store" https://www.bbc.co.uk/news/world-us-canada-54095975

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So they are suffering from the exact same cash problem that all the wee independent cinema chains they took business off 20 years ago died from. Tragic.

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Best salad bar any damn ware.  :(
(They restructuring, so it’s not ‘good bye’ Ruby Tuesday)
 

Ruby Tuesday has filed for bankruptcy, overcome by the financial pressures brought on by the pandemic.

The nearly 50-year-old company filed for Chapter 11 bankruptcy protection Wednesday, with the intention of reducing its debt and operating as usual while it navigates the process. Like others, Ruby Tuesday's business declined more this year because of the temporary closure of its dining rooms that forced some locations to permanently close.

SC

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Streaming service Quibi is shutting down after operating for just 6 months.

 

If you've got time then this could be a fun one to read about. Almost every decision made from the start was misguided, and they were so sure it would work that they somehow raised $2 billion in investments.

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4 minutes ago, Clorox Bleachman said:

Streaming service Quibi is shutting down after operating for just 6 months.

 

If you've got time then this could be a fun one to read about. Almost every decision made from the start was misguided, and they were so sure it would work that they somehow raised $2 billion in investments.

 

 

Hmm, so how much of that $2 billion went into the pockets of various directors?

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1 hour ago, Clorox Bleachman said:

Streaming service Quibi is shutting down after operating for just 6 months.

 

If you've got time then this could be a fun one to read about. Almost every decision made from the start was misguided, and they were so sure it would work that they somehow raised $2 billion in investments.

Yeah, could really go for a documentary or a book about Quibi in a few years time. The Meg Whitman interview with Vulture has perhaps the perfect quote for someone tasked with selling a brand new form of media to millennials and zoomers.

 

Quote

"I'm not sure I'd classify myself as an entertainment enthusiast," Whitman said when asked what she's watching on TV. Asked if she has any favorite shows, she responded, "Grant. On the History Channel. It's about President Grant."

 

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My employer, a large regional airport in the west Midlands has just completed a restructure which has seen 250 staff (27 per cent) leave. In the same week as the finishing touches to the restructure are made it announces that another 120 jobs are to go.

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6 hours ago, Toast said:

Covid: Caffè Nero seeks help after pandemic 'decimates' trading

https://www.bbc.co.uk/news/business-54929684

 

They don't have much to grumble about if they're only down 10%.

 

princess-bride-meme.jpg

 

I can tell you, as someone who works as a contractor to them, it's more than 10%. I'd say more like 40% at least. 

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