Companies going bankrupt/into administration

Post by **clv101** » 12 Aug 2019, 10:54

fuzzy wrote:A good photo of the dismantling of some of consett from a brilliant industrial site:

http://southpelawjunction.co.uk/wp/wp-c ... 24x682.jpg

When and where is this?

fuzzy · Post by **fuzzy** » 12 Aug 2019, 12:51

http://www.keystothepast.info/article/1 ... ?PRN=D5869

Probably 1983 after it closed. I remember the town red with dust.

raspberry-blower · Post by **raspberry-blower** » 24 Aug 2019, 19:41

Eddie Stobart in bother

Another major headache for Neil Woodford':

The accounting revisions are likely to add to pressure on high-profile investment manager Neil Woodford, who is the largest shareholder in Eddie Stobart, with a 22.9% stake

Post by **adam2** » 16 Sep 2019, 16:17

https://www.bbc.co.uk/news/business-49711618

Purdue Pharma the makers of OxyContin are filing for bankruptcy, allegedly due to the number of lawsuits pending.
This drug is reported to be addictive and a number of lives have been lost due to misuse.

(prepares for spam about this drug ! both how to obtain without prescription, and treatments for addiction, we have been deluged with such adverts in the past)

Post by **adam2** » 23 Sep 2019, 02:14

Thomas cook now bust, HMG having declined to bail them out.
https://www.bbc.co.uk/news/business-49791249

BritDownUnder · Post by **BritDownUnder** » 23 Sep 2019, 04:00

adam2 wrote:Thomas cook now bust, HMG having declined to bail them out.
https://www.bbc.co.uk/news/business-49791249

Yes. When I lived in the UK almost two decades ago you were implored in adverts to "don't just book it - Thomas Cook it". Not anymore!

Whether they went bust due to people flying less due to environmental considerations, economic factors or because children got gassed in their holiday apartments who can tell. Perhaps the capitalist system simply sucked out too much money from a long time declining business model.

I heard it was owned by the Huns in recent years so maybe we got one back on them for stealing all the pool loungers - and Dunkirk.

oobers · Post by **oobers** » 23 Sep 2019, 07:31

adam2 wrote:Thomas cook now bust, HMG having declined to bail them out.
https://www.bbc.co.uk/news/business-49791249

I helped tidy up his grave in Welford Road Cemetery once. Now the business is dead and buried. The first tour he ran was to a temperance rally. I expect the last one was a boozy stag do.
https://www.findagrave.com/memorial/158 ... homas-cook

PS_RalphW · Post by **PS_RalphW** » 23 Sep 2019, 09:54

I heard that the decline in the value of the pound hit them hard, they could not add surcharges because the domestic market was too weak.

Even the current Tory government could not be seen subsidising an aviation based holiday company with 200M pounds in the week of the global environmental protests.

stumuz1 · Post by **stumuz1** » 23 Sep 2019, 10:37

It's a company that should have gone to the wall in 2008. A classic 'zombie company' kept alive by QE.

Bonds being rolled over or renewed by institutional investors 'forced to buy the bonds' for pension companies.

Worlds gone mad.

If QE stops, then many more will be toast.

raspberry-blower · Post by **raspberry-blower** » 24 Sep 2019, 22:15

On the European Airline Market in general:

Wolf Street: The September European Airline Massacre

Post by **kenneal - lagger** » 25 Sep 2019, 15:20

If it means fewer flights with more passengers that will be good for the environment and mean less push for airport expansion.

Post by **kenneal - lagger** » 16 Oct 2019, 17:18

High Street camera chain, Jessops, in administration. It's been losing Â£14M a year for a few years after having been bought out by on of the BBC Dragons.

cubes · Post by **cubes** » 16 Oct 2019, 20:56

Up to date article (not 2013!) https://www.bbc.co.uk/news/business-50066623

Post by **kenneal - lagger** » 17 Oct 2019, 15:30

Oops!! Should have checked the date.

raspberry-blower · Post by **raspberry-blower** » 18 Oct 2019, 09:24

Kevin McCloud property firms faces closure source