http://news.bbc.co.uk/1/hi/business/6386153.stm

Wonder who else will be going down the toilet after the sales finish

 

Fook not good

 

Looking very grim, worrying times ahead.

 

exactly mate. what what can be done to get us out of this shit period ?

 

unfortunately its the survival of the fittest. all the crap will go down the pan and the strong will carry on through until times pick up again.

 

I hope this is the case mate

 

they have only gone bust due to them having big distribution links with woolworths. if zavvi can find a new distributor then they should survive.

 

Woaft. Never expected that.

Are they still owned by the Virgin Group/Richard branson? Or is it a totally new company?

 

Thats rubbish, so basically if they arent saved by someone it's only hmv left on the high street... Not good

 

I think they had a management buyout last year?

 

Dosnt suprise me considering they always seemed to be the most expensive for games and DVDs.

 

companies dropping like flies atm aint they.

Noticed when i went into town how many shops have closed, one thats been there over 20yrs had gone when i went yesterday.

Bet the new year see's shitloads more go bust

 

personally i think some of it is gonna happen as a way to jump ship,,,, supplyers are gonna get it alot worse tbh as they aint gonna get paied

my sister works for a local council, she got a letter of woolworths saying they aint doing to well can we pay our rates after the new year,,,,,,,,, that was back in september !!! seems strange that they fold in january and now they have to wait for there part to get the cash,,,,,,, also woolworths dont own a single store either !!! all on lease !

this company folds soo quick after woolies,,,, who aint even shut yet ?

 

btw my company is over budget so far,,,,and has grown from last year too aswell as my old company also is grown from last year

aint had any garages actually fold either,,,, just aint paying there bills on time to be cautious,,,,, one of my customers has just sold hes ferrari and got a masarati,,,,, he also owes us almost 10k hes paying back in instalments,,,,, wouldnt say hes hitting hard times though tbh

 

"It was formed after a management buy out of the Virgin Megastore division of the Virgin Group in September 2007."

They are in administration, they will only have gone bust if a buyer/investor can't be found. And no jobs have gone yet.

Whittards the coffee/tea people went into administration yesterday and were bought by an investor from the administrator. The shops didn't close and it's business as usual with the new owners.
The same could happen with Zavvi.

The maintenance company I work for were owed money by Woolworths, no chance of getting it now. It just means if we were getting a Xmas bonus we wouldn't have got it.
But we weren't getting one anyway so WE haven't lost.

And I've just had a look round a Wollies for the first time in about 20 years, even with 70% off, the stuff doesn't look cheap, no wonder they were struggling before the crash.
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this is where the issues arise, big companys not paying there bills on time, getting stuff on sale or return ect,,,, getting handouts to pay these bills then folding anyway

as i mentioned before woolies asked in september to pay there rates bill in january due to them having financial trouble,,,,,, where they are gonna be closed and not fucking pay there bill anyway,,,, so where is this "sales" takings gonna end up ????

 

zavvi owed entertainment uk Ł10mill or so according to the news reports

when woolies went, entertainment uk lost their biggest suppliee and went

zavvi also had their supplies through e.uk so if they couldn't get any more supplies then they can't flog any more gear, so they are looking for someone to supply them items to flog in their stores, without which, they are fucked too

anyone know if they are going to do a woolies style flogging of all their gear el cheapo to get some money back in the next few days?

either way, shit news to be hearing on crimbo eve

 

When was the last time you bought a CD or DVD from Virgin/Zavvi or HMV. People don't. They use Play or Amazon. ALWAYS cheaper. Few weeks back Play were on the news. They were doing 700ish sales per minute! Funny therefore that with all this online buying and eBay. The Royal mail still can't operate at a profit! I also think that Torrents don't always help. and also Zavvi never really had any stock that was other than mainstream. Just lots of stock that shifted relatively easily. Box Sets etc.

Several dealers have gone to the wall in recent months. Maybe not Dagenhams (?) but I know of VW/Alfa/Renault and possibly a Seat.

 

amazon and play are my number one choices, but every since hmv got into the "free postage" act i've bought stuff from them too

zavvi were a new player in an already competitive market, and it doesn't look like they were making money either, what with multi page newspaper spreads every few days

 

m&s are in deep poo as well in fact rumour has it gone with in 2 months

 

No bonus next year again for us then, we do work for them as well.

.

 

Sunday, I bought the teachers box set on Dvd, and the New Take that album both presents for people and I got myself the new Chase and Status Album all from HMV..

 

But you didn't go/buy in Zavvi. Which is exactly their problem.


M&S Posted Ł1BN pre tax profits in May, would be surprised if they've pissed it all away just yet.

http://business.timesonline.co.uk/to...cle3972941.ece

 

Its the internet thats killing these shops of, sites like amazon and play.com . This month the depot i work in has delivered over 9000 items for amazon

 

crazy times

 

going to get a lot worse before it gets better.

What worries me is not the business' shutting down now, but the fact in 2 years when sales pick up there will be no competition so nothing to stop the prices spiralling upwards. As least when there was market competition it kept prices down.

 

going to get a lot worse before it gets better.

What worries me is not the business' shutting down now, but the fact in 2 years when sales pick up there will be no competition so nothing to stop the prices spiralling upwards. As least when there was market competition it kept prices down.

 

renault are in deep deep shit!!

 

how come all your posts are doubled?

 

dunno fuzzy it does it sometimes

 

ALL THE CAR INDUSTRY IS IN DEEP SHITE, ford america has been bleeding ford europe for years to pay for there decline, hence there restructure they have done, floging aston martin and other dealer sites who make little or no profit,,,,, they run at a small margin most dealers JUST to serve the area, think DOO on here had targets ot MINUS for years to reach,,,, that means only loose so much money each year which i found funny

when i say garages,,,, i mean backstreet as i work in pattern parts so dont deal with main dealers,,,,,, i got out of that when ford was restructuring to miss the redundencys a few years later thats prob gonna happen

theres a few garages who are claiming its quiet at the min,,,, but they seem to forget that we know what there spending each month and have been for months to get a idea of just how busy they are

 

That won't be a problem, the weak companies will fold in the next year. The remaining ones will strengthen and be ready for when things pick up again.
Once it's clear things have picked up, all the smart money men will appear from nowhere and start or restart in the areas that have suffered most.
There will be something to replace MFI, Woollies don't need replacing as the pound (Euro) shops can cover that area.
Prices of some things may be slightly higher for a short while but the competition from the new businesses will soon lower them to where they were recently.

Seen it all before, as businesses get taken over by the big boys someone else starts again small and builds up.

Morrisons supermarkets is a good example of someone small who became quite large in a short time and became serious competition for the existing big boys that had almost wiped out the competition.

At the moment there is probably another small supermarket chain like Morrisons were, waiting to become a big player when the time is right.






.

 

think its called lidle or aldi mate i belive,,,,, remember sainsburys was a pikey supermarket,,,,, thats now upmarket these days

restructure is the key,,,,,, people who dont when times are hard will fold,,,,,, just like a lame animal,,,,, " the cirrrrrrrrrrrrrrrrrrcle of liiifeeeeeeeeeeeee" ( elton john mode)