Companies going bankrupt/into administration

[adam2]

The Arcadia group have announced that gift vouchers may only be used in part payment for purchases, up to a maximum of 50%.
So a £50 gift voucher that could previously have been used to buy goods priced at £50, can now only be used as part payment towards goods of £100 or more.
Rather dodgy, though not as bad as completely voiding the vouchers as has happened when other stores have bust.

[careful_eugene]

The Arcadia group have announced that gift vouchers may only be used in part payment for purchases, up to a maximum of 50%.
So a £50 gift voucher that could previously have been used to buy goods priced at £50, can now only be used as part payment towards goods of £100 or more.
Rather dodgy, though not as bad as completely voiding the vouchers as has happened when other stores have bust.

That's an unfair thing to do to the staff, anyone with a gift voucher who is unhappy about the 50% rule is going to take it out on the shop assistant.

[adam2]

I am aware of a case, in a previous case of a retailer going bust and voiding all gift vouchers, where a customer selected goods to the face value of the vouchers, placed the vouchers on the counter, and walked out !
When told "you cant do that" they walked a bit quicker.

I presume that this is shoplifting, but am not convinced that the store would call the police in such circumstances. And even less convinced that a court would convict.
Shoplifting of less than IIRC £200 has in effect been decriminalised and is not normally a police matter.

[adam2]

Two domestic energy retailers have just bust, and others are expected to follow.
[flash=]https://www.theguardian.com/business/20 ... 13%20years.[/flash]

The reason is presumed to be the recent great increase in wholesale gas and electricity prices, and many more failures are expected.

[PS_RalphW]

Chinese property company Evergrande on the edge with 300B dollar debt and 2 credit downgrades in 2 days. shares down 75% from peak and reports of staff not being paid

https://www.theguardian.com/world/2021/ ... hare-slump

I am surprised that the Chinese property boom did not implode years ago.

[Mark]

Chinese property company Evergrande on the edge with 300B dollar debt and 2 credit downgrades in 2 days. shares down 75% from peak and reports of staff not being paid

https://www.theguardian.com/world/2021/ ... hare-slump

I am surprised that the Chinese property boom did not implode years ago.

All About The “Chinese Invasion” Of Manchester:
https://www.ogpsglobal.com/article/news ... chester-57

Chinese investors are also busy creating a 'boom' in Manchester....
& we all know what follows a boom....

[adam2]

ANOTHER two domestic energy retailers have bust.
https://news.sky.com/story/two-more-hou ... s-12407915

[BritDownUnder]

There was a gap of almost 9 months between posts on this thread. It's almost a relief to see companies still going bust.

I don't get the benefits of property investors coming in an inflating asset prices but someone will no doubt tell me otherwise.

[adam2]

Another four energy retailers are reported to be likely to go bust.

https://www.bbc.co.uk/news/business-58610561

[adam2]

Two more energy retailers have bust.
https://www.bbc.co.uk/news/business-58652083

[clv101]

10 retailers now? Couple million customers?

[PS_RalphW]

Evergrande miss an $83M bond payment. The vibe is that China will restructure to protect Chinese financial interests at the expense of overseas investors.

[PS_RalphW]

https://www.theguardian.com/business/20 ... se-reports

Stanislow refinery may be nationalised in exchange for missed tax payments. Letting it shut down in the current situation would be unthinkable.

[adam2]

Would letting the oil refinery close down be unthinkable ? The present bottleneck seems to be deliveries to filling stations, not refinery capacity or wholesale stocks.

The poor finances of the refinery might suggest that it was only working at part capacity in any case.

[Mark]

Stanlow is a massive petrochemical complex - formerly owned by Shell, now Indian owned (Essar)
Things would have to be very bad indeed for it to close down - suspect tax payers will bail them out...
https://www.cheshire-live.co.uk/news/ch ... l-21685087

Meanwhile....
EVCL Chill: 400 jobs at risk as food firm goes bust:
https://www.bbc.co.uk/news/uk-england-58689962