Zaavi Gone Bust Today

[Leekbrookgull]

WH Smiths and Somerfield.

 

[Cpt. Spavil]

im sad about that i like zavvi its a good shop

 

[Lady Whistledown]

Tour operators and travel agents tend to struggle during recessions as people cut back on holidays.

A few more will follow Excel, methinks.

 

[franks brother]

The paper shop folding

 

[Leekbrookgull]

To be honest amazed that My Travel,are still going. :thud:

 

[Leekbrookgull]

Frank,where did you READ that ?

 

[Bluejuice]

Tour operators and travel agents tend to struggle during recessions as people cut back on holidays.

A few more will follow Excel, methinks.

Not to mention airlines.

Onen of the biggest casualties of the last recession in the early 90's was the collapse of Air Europe (at the time the second largest airline in Europe after BA) and I seem to recall plenty of others followed suit

 

[bigc]

Whittards is back in business, so that's one off the hitlist.

Somerfield won't, supermarkets will be alright.

 

[Bluejuice]

Somerfield is actually owned by the Co-Operative isn't it?

Therefore I wonder whether they'll just sell off half the shops and convert the rest to the one brand (I'd assume Co-Op)

 

[bigc]

I think the problem with all this is that the media love this and some sorts on NSC do too, it's this sort of morbid excitement "oooo whats next".

It's a bandwagon now and the media are just loving each new case.

 

[seagullsovergrimsby]

House of Fraser could be in the shit as a major investor in this group is Icelandic and ideally wants to dump it as it is haemorrhaging money right left and centre.

 

[bigc]

House of Fraser could be in the shit as a major investor in this group is Icelandic and ideally wants to dump it as it is haemorrhaging money right left and centre.

Who'd have thought the UK high street would have come crashing down partly due to the Icelandic?

Rather ironic isn't it, certainly not how you'd have seen it happening had you had to predict it all.

 

[Guy Fawkes]

Whittards is back in business, so that's one off the hitlist.

BBC NEWS | Business | Whittard sold to private equity

Some good news at last, seems like Ernst and Young actually wanted to try to save Whittards unlike the Woolies administrators who seemed determined to close it down before anyone had the chance to put together a rescue plan or deal.

 

[bigc]

BBC NEWS | Business | Whittard sold to private equity

Some good news at last, seems like Ernst and Young actually wanted to try to save Whittards unlike the Woolies administrators who seemed determined to close it down before anyone had the chance to put together a rescue plan or deal.

I read somewhere the Woolies admins are paying themselves £22,000 an hour or something ridiculous. There was certainly an article somewhere implying they weren't really looking for any buyers.

 

[Guy Fawkes]

I read somewhere the Woolies admins are paying themselves £22,000 an hour or something ridiculous. There was certainly an article somewhere implying they weren't really looking for any buyers.

They also get about £20 million if they recover a large amount of the debts, hence the liquidation of stock, rather than looking at or working out a deal with potential saviours - selling off the stock and cancelling all future orders straight away was never going to make a takeover viable.

I have been speaking to friends who still work at Woolies and they say the same thing, what exactly do the administrators do to earn their money?

 

[wizo7]

JJB is gone now....

 

[seagullsovergrimsby]

I read somewhere the Woolies admins are paying themselves £22,000 an hour or something ridiculous. There was certainly an article somewhere implying they weren't really looking for any buyers.

How do you think the administrators make big fat profits ?

 

[seagullsovergrimsby]

BBC NEWS | Business | Whittard sold to private equity

Some good news at last, seems like Ernst and Young actually wanted to try to save Whittards unlike the Woolies administrators who seemed determined to close it down before anyone had the chance to put together a rescue plan or deal.

Whittards of Chelsea went into a "pre-pack" administration which means a buyer was already lined up and waiting. in this case EPIC , a private equity company will probably restructure Whittards to make it viable which in the end still means job losses.