Companies going bankrupt/into administration

raspberry-blower · Post by **raspberry-blower** » 18 Dec 2018, 21:17

Blippar has collapsed into administration

Another tech crash on the way?

Little John · Post by **Little John** » 18 Dec 2018, 22:31

Another crash on the way. Period.

Post by **adam2** » 22 Jan 2019, 23:29

Patisserie Valerie now bust, after an earlier nearly bust and then eleventh hour rescue.

https://www.bbc.co.uk/news/business-46965761

For those unfamiliar with them, they were purveyors of various costly and hugely fattening cakes, pastries and the like.
Enjoyable though.

Post by **kenneal - lagger** » 23 Jan 2019, 12:57

Views on the next financial crash coming this year according to Nic Hubble of South Bank Research and Capital and Conflict.

Consider just how fragile our financial system is to external shocks:

The UK financial system loans a scary amount of money out to other financial institutions â€“ in fact, FIVE HUNDRED PERCENT more than the G7 average. As of 2014 (the latest figures available) this figure stood at 34% of our entire GDP.

The UK financial system has the highest exposure to foreign debt in the G7 â€“ again, because our entire banking system is one big 'super spreader'.

It is by far the most bloated sector, compared to the size of our economy, of any G7 nation. Banking assets are worth four times the entire UK economy.

It has the highest level of 'securitised assets' in the G7 â€“ complex securities that helped create the last crisis.

And finallyâ€¦

According to the New Economics Foundation, the UK financial system is the least resilient financial system in the G7.

I know they're trying to sell a financial service but even if what they are saying is an exaggeration and you discount some of it it's still a pretty horrific story.

fuzzy · Post by **fuzzy** » 23 Jan 2019, 13:07

Great how it's a 'UK' problem - not a private company weakness. It was only today on this board we were told that gov's [ie taxpayers] should not be making a business profit. Funny how it's our problem when the private sector loses.

RenewableCandy · Post by **RenewableCandy** » 27 Jan 2019, 22:26

The Yorkshire Post is running a week-long feature about 'The High Street' and its agonies. They're covering York on Thursday. All this almost makes me feel guilty for never actually buying anything unless it's (a) 2ndhand (b) a book or (c) a replacement for something crucial, e.g. a bra, or part of a washing-machine.

It's beginning to focus the Collective Mind on the lack of actual social activities (other than buying stuff - if buying stuff can be counted as a social activity!) in our towns' and cities' High Streets. Or indeed anywhere, for that matter.

vtsnowedin · Post by **vtsnowedin** » 28 Jan 2019, 00:05

The demise of a bra and the washing machine at the same time! Bit of a story there perhaps?

fuzzy · Post by **fuzzy** » 28 Jan 2019, 08:31

I wasted a few days last week looking for a piece of 'old brown furniture' to fit an exact space - most are way too big, in some incredible old shops that are full of amazing quality metal wood ceramics etc [in Leominster]. And nobody buys anything. I bought some good old pliers Â£3

We are absolutely past peak stuff.

Potemkin Villager · Post by **Potemkin Villager** » 28 Jan 2019, 18:20

When I was up in the big city today I had a look in the men's clothes section in Debenhams. Despite large markdowns (on very high prices) there is a huge amount of stock hanging there and not appearing to move at all. It is still too expensive for what it is.

BritDownUnder · Post by **BritDownUnder** » 29 Jan 2019, 05:26

fuzzy wrote:I wasted a few days last week looking for a piece of 'old brown furniture' to fit an exact space - most are way too big, in some incredible old shops that are full of amazing quality metal wood ceramics etc [in Leominster]. And nobody buys anything. I bought some good old pliers Â£3

We are absolutely past peak stuff.

Garage sales in Australia are a good source of nice old tools especially some of the 'Made in England' tools. For examples nice 50 year old tin-snips that cut better than the new 'Made in China' ones.

RenewableCandy · Post by **RenewableCandy** » 29 Jan 2019, 23:07

vtsnowedin wrote:The demise of a bra and the washing machine at the same time! Bit of a story there perhaps?

Metal poking out of an underwired bra can destroy a washing machine if you're unlucky. Mine - or possibly the pins that now hold my ribs together - have been known to trigger alarms at airports.

vtsnowedin · Post by **vtsnowedin** » 30 Jan 2019, 01:25

RenewableCandy wrote:
vtsnowedin wrote:The demise of a bra and the washing machine at the same time! Bit of a story there perhaps?
Metal poking out of an underwired bra can destroy a washing machine if you're unlucky. Mine - or possibly the pins that now hold my ribs together - have been known to trigger alarms at airports.

You likely looking terrorist you. As an author you should be able to take those two bits and weave a story, or a chapter at least around them.

raspberry-blower · Post by **raspberry-blower** » 30 Jan 2019, 21:03

Related news? Hardware store Bunces closing down

Potemkin Villager · Post by **Potemkin Villager** » 31 Jan 2019, 19:54

Swedish fashion retailer H+M applying novel (possibly desperate) approach to shift their huge pile of unsold stock!

https://www.theguardian.com/fashion/201 ... tailer-h-m

" It comes after H&M reported its sixth consecutive quarter of falling profits, as well as an announcement in March that it had an increased level of unsold garments, worth more than $4bn (Â£3.05bn) in total. As a result, the company is stepping up its use of data and artificial intelligence to predict future sales and minimise such costs."

Post by **kenneal - lagger** » 01 Feb 2019, 14:26

Perhaps they should put some of it on ebay.