Companies going bankrupt/into administration

[emordnilap]

Irish company Xtra-Vision in trouble again, back in receivership.

[the_lyniezian]

Irish company Xtra-Vision in trouble again, back in receivership.

I very much would not be surprised that the last remaining video rental stores are all in trouble. They are an anachronism in the modern world of ordering DVDs by post through the internet, internet streaming, multi-channel TV etc. Something which was very much a thing of the 1980s and possibly 90s when video was expensive, but up-and-coming. It would have happened anyway without the financial situation we are now in.

[lancasterlad]

Another established name goes into administration - http://www.bbc.co.uk/news/business-24899808

[RenewableCandy]

Barratts are (were) crap, and will not be missed, except of course by people who worked there and need the money.

[emordnilap]

And RSA Insurance, which owns 123, has a €70 million 'hole' in its Irish accounts. Every other insurer has had to cut their rates to beat 123's and now it's in trouble, which is delicious irony. I detest insurance companies anyway - this does nothing to endear me to them.

[RenewableCandy]

"Take him to DETROIT!"

[emordnilap]

Orange, in collusion with unions, seeking 2,950 redundancies in Poland. Also with the blessing of unions, the company which owns Airbus is looking for 6,000 redundancies in Paris. All good stuff eh?

[emordnilap]

Detroit's bankruptcy.

Judge Steven Rhodes, who wondered aloud why the bankruptcy had not happened years ago, said pensions can be altered just like any contract

Just remember this when people say the likes of, "a contract is a contract".

[RenewableCandy]

Yes. Student Loans spring to mind.

[SleeperService]

Or any loan agreement in fact...

More Than issue 6th profits warning in as many weeks and the Chief leaves effect immediately.

[emordnilap]

One huge indicator of this is that Staples, a leading supplier of office supplies nationwide, is shutting the doors on 225 stores. And, they aren’t the only ones getting hammered by a pullback in consumer spending. The world’s largest retailer, Walmart, saw sales drop over 20% year-over-year in the fourth quarter of 2013.

Source

[RenewableCandy]

Well quite: have fewer children! The population will reduce, but not for a generation or so.

[adam2]

I have moved a number of off topic posts to a new thread, these posts though peak oil related were not really much to do with COMPANIES going bust.
Link to new thread below.



http://www.powerswitch.org.uk/forum/vie ... 496#251496

[emordnilap]

One huge indicator of this is that Staples, a leading supplier of office supplies nationwide, is shutting the doors on 225 stores. And, they aren’t the only ones getting hammered by a pullback in consumer spending. The world’s largest retailer, Walmart, saw sales drop over 20% year-over-year in the fourth quarter of 2013.

Source

Ah. One of Walmart's 'potential risks facing the company' - and a reason for its recent drop in revenue - is that its taxpayer subsidies are being cut. This is the recent cut in government-issued food stamps.

Strangely enough, these food stamps are often claimed by Walmart employees because of their shitty wage rates.

[emordnilap]

16 major retail chains closing stores across America

It's those pesky employees that're to blame, wanting wages they can live on. This'll teach 'em.