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Businesses in financial trouble

fiza

By fiza
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ICTDirect_Dave

ICTDirect_Dave

Posted
Posted
Still waiting for Brand showrooms to start existing more, central location, professionals to demo things for you, "this is why you want to buy the high end Sony stuff over random thing you found online, also we can order it for you to be delivered to your home tomorrow, and set up if you'd like". No need for a large store with the actual items to buy taking up expensive space.

 

Why I do believe you've just described DFS - Next day delivery aside anyhow.

hardtailstar

hardtailstar

Posted
Posted
If you only differentiate on price, then you're not going to have great entry level jobs.

 

Still waiting for Brand showrooms to start existing more, central location, professionals to demo things for you, "this is why you want to buy the high end Sony stuff over random thing you found online, also we can order it for you to be delivered to your home tomorrow, and set up if you'd like". No need for a large store with the actual items to buy taking up expensive space.

 

There is a showroom/shop like that in my town that has demos of high end AV stuff of all brands.

 

Expensive stuff isnt in stock, gets ordered and delivered with setup.

 

Not sure how they do but they have been around since as long as I have been alive maybe more.

paulkerton

paulkerton

Posted
Posted
Why I do believe you've just described DFS - Next day delivery aside anyhow.

 

Well I suppose you won't get next day delivery during the high demand of a sale.

More likely to get it when there isn't a sale on and things quieten down...

:eyebrows: :getmecoat:

  • Thanks 1
mavhc

mavhc

Posted
Posted
There is definitely some market for that kind of thing, but it can only be niche or bespoke orders.

 

Apart from the mega rich, you will end up in a situation where the majority happily walk in, see the demo and then buy online from amazon or whoever. Most people these days are savvy enough to do that

 

A business that has all those over heads will need to put *very* significant margins on to the orders they place on your behalf as they will never get near the economies of scale to compete on price.

 

The point is to get people to buy it from Amazon, because you're Sony, and you want people to buy Sony things, not Toshiba things, or Philips things, or no name company things. The shop would be owned by Sony, and make a profit by getting more sales of Sony things in general, not selling them itself.

 

In a world where everything is online, you need a place to actually touch the expensive products before you buy them.

 

But also in a world where everything is online a physical high street shop can't compete, so no point having independent shops trying to make a margin on selling you the TV

  • 3 weeks later...
6Foot2

6Foot2

Posted
Posted

Link: Peacocks to reopen 200 stores after being saved from administration [basildon Canvey Southend Echo]

 

A FASHION giant has been bought out of administration, saving 200 stores from closing permanently.

 

Private investment group EWM Group has announced a group of international investors will buy out Peacocks from administrations.

 

The move saves 2,000 jobs and means 200 of its stores will reopen on April 12 when lockdown rules ease.

 

But the firm employs more than 4,000 people and has more than 400 stores across the UK.

 

It has not been revealed what will happen to the remaining stores whilst the exact location of stores which will reopen has not yet been revealed.

 

Peacocks has a raft of stores in Essex including in Witham, Harwich, Frinton, Clacton, Grays, Maldon and Southend.

Dos_Box

Dos_Box

Posted
Posted

Apparently all the Debenhams stores are reopening Monday still trying to get the remaining stock cleared. I went in just before the last lockdown and there were some very good deals to be had if anyone is after some new clothes.

I'm popping to my local one on Monday lunchtime!

jmak

jmak

Posted
Posted
Apparently all the Debenhams stores are reopening Monday still trying to get the remaining stock cleared. I went in just before the last lockdown and there were some very good deals to be had if anyone is after some new clothes.

I'm popping to my local one on Monday lunchtime!

I'm planning on staying well away! I've seen what people are like on Black Friday - can you imagine what it'll be like when no one's been applied in a shop for four months? Nothing I want that badly...
  • 2 months later...
6Foot2

6Foot2

Posted
Posted

Link: Stobart Air: Aer Lingus stops most Belfast City Airport flights - BBC News

 

Aer Lingus is stopping flights from George Best Belfast City Airport to several UK destinations.

 

It comes after Stobart Air, which operates Aer Lingus' regional services, including those from Belfast, failed to find a buyer and is being liquidated.

 

Flights to Leeds Bradford, Edinburgh, Exeter, Manchester, East Midlands and Birmingham have been cancelled.

 

Aer Lingus flights from George Best Belfast City Airport to London Heathrow will not be affected.

 

But a planned route between the airport and Newquay - due to start in late June - will be affected.

 

Stobart Air also operated a number of routes within the Republic of Ireland for Aer Lingus and those routes have all been cancelled.

 

Aer Lingus was due to replace Stobart Air with a new regional operator next year but it is not clear how quickly it could now start to operate the services.

 

Emerald Airlines was being lined up to take over the contract...

  • 7 months later...
6Foot2

6Foot2

Posted
Posted

Link: Peloton shares dive on report of production pause - BBC News

 

Peloton shares have plummeted following a report that it plans to temporarily stop production of its pricey exercise machines.

 

The company, which saw demand soar during the pandemic, is now stuck with a glut of bikes and treadmills, CNBC reported, citing internal documents.

 

Investors sold off shares at the sign of waning popularity, forcing the firm's stock price down more than 20%.

 

Peloton did not immediately respond to a request for comment from the BBC.

 

The firm, which pairs its equipment with streaming and live exercise classes, had struggled to keep up with orders at the start of the pandemic, as gyms shut their doors.

 

More recently, however, appetite has dwindled for its bikes and treadmills, which start at nearly $1,500 (£1,100).

 

Accident investigation

 

The firm was hit last year after the death of a child in a treadmill accident led to a recall and government safety investigation. It also cut prices as people started to return to pre-pandemic exercise habits.

 

In November, the firm told investors it had experienced "softer than anticipated" sales and was lowering its expectations for the year.

 

CNBC reported that Peloton was halting production of its most expensive expensive bike from December until June and its most expensive treadmill for all of its 2022 financial year, which runs through June. It is also pausing production of its standard bike in February and March and its treadmill for six weeks.

 

CNBC, which also reported that the firm is considering job cuts, said the presentation blamed increased competition and price sensitivity for a "significant reduction" in demand.

 

The news sent the price of Peloton shares below $29, which is below what they fetched when the loss-making firm floated on the stock market in 2019. The value of the shares are down roughly 80% over the last 12 months.

 

At the time, analysts said it was not clear how big the market for Peloton machines was given their cost. The firm also makes money from people who subscribe for classes via its app.

mikeprice

mikeprice

Posted
Posted

 

Hardly surprising - I always thought they were aiming at a market that was bound to suffer as soon as they got some serious competition

 

and I have seen a few systems recently that seem cheaper, just as good and more sport focussed - e.g. cycling and running etc

 

at least - that is what people have said on cycling forums - I have not tried any of these myself - as those I have met IRL might have guessed

  • 1 month later...
6Foot2

6Foot2

Posted
Posted

Link: Harrogate's new vegan restaurant venture collapses - The Stray Ferret

 

Vertigo Plant Based Eatery.jpeg

 

A vegan restaurant chain that planned to open a location in Harrogate has ceased trading.

 

Vertigo took over the space on Station Parade next to Farmhouse in July 2021 and advertised in its window that it was ‘coming soon’.

 

Since then there has been no sign of movement. The building has remained vacant with only Vertigo branding visible to passers-by.

 

When the Stray Ferret sought an update in January, we were told the company couldn’t confirm a date for the Harrogate opening due to covid uncertainty.

 

However, Vertigo has now posted on social media that it has now gone out of business. It said:

 

It is with a heavy heart we have to announce Vertigo is no more.

 

“Sadly, we have ceased trading at all of our sites. The pandemic really took its toll on us, and trade is still well behind what it was pre-March 2020; and now with significantly increased costs (especially utilities) it is no longer viable for us to operate.

6Foot2

6Foot2

Posted
Posted
Collapse now confirmed.

 

Link: Collapsed Flybe tells passengers not to travel to airports [bBC News]

 

Link: Flybe airline set to relaunch flights in April | The National Wales

 

Collapsed airline Flybe has announced it will return to the skies next month.

 

The regional carrier will operate up to 530 flights per week across 23 routes, serving airports such as Cardiff, Belfast City, Birmingham, East Midlands, Glasgow, Heathrow and Leeds Bradford.

 

It operated six "core" routes to and from Cardiff Airport.

 

Flights will resume on April 13, 2022, Flybe said.

 

Flybe was pushed into administration in March 2020 with the loss of 2,400 jobs as the Covid-19 pandemic destroyed large parts of the travel market.

 

Before it went bust it flew the most UK domestic routes between airports outside London.

 

Its business and assets were purchased in April 2021 by Thyme Opco, which is linked to US hedge fund Cyrus Capital.

 

Thyme Opco was renamed Flybe Limited.

 

The airline will be based at Birmingham Airport.

 

Chief executive Dave Pflieger said: “We are delighted to now be out for sale and starting service next month.

 

“We think our new flights will benefit everyone who wants low fares and more flights to go on holiday and visit loved ones.

 

“Our new network will also ensure better regional connectivity inside the UK and between various UK and EU regions.”

 

He added: “The new Flybe team has worked tirelessly over the past year to create an airline that delivers on price, schedule and choice.”

  • 1 month later...
6Foot2

6Foot2

Posted
Posted

Link: McColl's convenience store chain on brink of collapse - BBC News

 

Convenience store chain McColl's is on the brink of collapse, potentially placing thousands of jobs at risk.

 

The retailer said it was "increasingly likely" it would fall into administration unless talks around a rescue deal were successful.

 

The statement on Thursday came after Sky News reported the company could call administrators in on Friday.

 

More than 16,000 people are employed by McColl's, which also has a partnership with supermarket Morrisons.

 

The company wrote that without any fresh funding in the short-term, the group would likely "be placed into administration with the objective of achieving a sale of the group to a third-party purchaser and securing the interests of creditors and employees".

 

But the chain also stressed on Thursday that discussions are still ongoing.

 

It added that it wanted to create a "stable platform for the business going forward".

 

The 1,400-store group has a wholesale tie-up with Morrisons, as well as Martin's newsagents, with a strategy centred around an image of a "neighbourhood retailer".

 

According to its website, it serves about five million customers each week, having been founded in Glasgow in 1901.

 

But earlier this week, the listed company warned that its shares would be suspended because it was unable to meet the deadline for filing its annual results.

 

McColl's said that its accounts would not be signed off in time to meet the deadline.

 

Meanwhile, Sky News reported that Morrisons, one of Britain's biggest supermarkets, had proposed a deal to McColl's lenders, which involved the supermarket injecting funding.

 

Morrisons declined to comment when contacted by the BBC.

 

McColl's successfully raised £30m from shareholders last year to invest in driving the expansion of its Morrisons Daily convenience stores, but at the time it warned that footfall had been hit by the coronavirus pandemic.

 

Around the same time, it also faced allegations from the government that it had failed to pay some of its workers the UK minimum wage.

 

Pret, McColl's and Welcome Break said the underpayments were historic errors and staff had been swiftly reimbursed.

 

The businesses were made to pay back the money as well as being fined £3.2m over breaches, such as deducting pay from wages for uniforms and expenses, or failing to pay the correct apprenticeship rate.

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