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Companies going bankrupt/into administration
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raspberry-blower



Joined: 14 Mar 2009
Posts: 1453

PostPosted: Thu Jul 27, 2017 10:00 pm    Post subject: Reply with quote

Now time for some heart warming news.

Another sector that is in serious difficulty is that of the high street estate agents. Today Countrywide announced that its profits were down 98% from last year:

Quote:
Results were even worse at Countrywide, which recorded a 98 per cent collapse in pre-tax profits. The figure for the six months to June came in at £447,000 and the group also decided not to pay out an interim dividend.

Countrywide said the overall market for housing transactions in the UK was down 7 per cent in the period, partly due to a rush a year ago to transact ahead of a new stamp duty surcharge introduced in April 2016


Read more: http://www.thisismoney.co.uk/money/markets/article-4735006/Torrid-day-UK-s-largest-estate-agents.html#ixzz4o4FAMmWd
Follow us: @MailOnline on Twitter | DailyMail on Facebook


More here

Discussed at the HPC forum here

A combination of a stagnating property market which is actually now showing clear signs that prices are beginning to decline - and online estate agents undercutting the high street chains will result in some estate agents going under.
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emordnilap



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PostPosted: Thu Aug 24, 2017 11:41 am    Post subject: Reply with quote

Provident
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raspberry-blower



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PostPosted: Thu Aug 24, 2017 12:06 pm    Post subject: Reply with quote

Great name for the now ex-CEO:

Quote:
Shares in Provident had plunged 66% on Tuesday, wiping £1.7bn off its stock market value, after it issued a shock profit warning and longstanding chief executive, Peter Crook, resigned


WTF are "Customer Experience Managers?"

They are door step lenders a.k.a. Loan Sharks.

"How pleasant did Sir find his knee-capping experience?"
"Would you consider our latest offer - a luxurious concrete overcoat?"
Evil or Very Mad Evil or Very Mad Evil or Very Mad
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adam2
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PostPosted: Thu Aug 24, 2017 12:40 pm    Post subject: Reply with quote

I am usually sorry to hear of companies going bust, but make an exception for loan sharks and estate agents.
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woodburner



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PostPosted: Thu Aug 24, 2017 1:43 pm    Post subject: Reply with quote

And thug carpark operating companies. Few may be ok, but most are evil and ruthless.
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kenneal - lagger
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PostPosted: Thu Aug 24, 2017 4:40 pm    Post subject: Reply with quote

emordnilap wrote:
Provident


I heard about this in an email from BullionBy Post! Apparently it is a good time to buy metals from them.

Capital and Conflict and, to a slightly lesser extent, MoneyWeek are trying to flog everybody bitcoin. Sounds a brilliant investment if it weren't for the fact that you can't actually put in in your pocket for when the banks break and the electricity then goes down and the internet implodes.

Everyone in the know seems to think that the banking system is about to implode and they're trying to sell you something to save yourself and make them a bit of money on the way.
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emordnilap



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PostPosted: Fri Aug 25, 2017 10:50 am    Post subject: Reply with quote

I see Dixon's are moaning that their profits are being affected by people not buying their stuff. Funny how that should be, eh?
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raspberry-blower



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PostPosted: Fri Aug 25, 2017 8:32 pm    Post subject: Reply with quote

Peak iPhone perhaps? Wink
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emordnilap



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PostPosted: Thu Sep 07, 2017 2:08 pm    Post subject: Reply with quote

Economist at the BoE reckons 'up to 15 million jobs' are at risk from automation in the UK.

Mind you, wtf do economists know? Zilch about the economy, that's for sure - but he's in the right direction with that statement. Not that he cares.

He also predicts that inequality will increase. Tell me again how much you can get paid to make such 'predictions'? Very Happy A bot is a candidate for his job, alright.
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raspberry-blower



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PostPosted: Fri Sep 08, 2017 12:09 pm    Post subject: Reply with quote

Another company that no-one will mourn is heading for the receivers:

BBC: PR Firm Bell Pottinger "nearing collapse"

Quote:
The PR firm was expelled from the industry trade body after being accused of stirring up racial hatred in South Africa.


Good riddance to a charmless organisation
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emordnilap



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PostPosted: Fri Sep 08, 2017 12:22 pm    Post subject: Reply with quote

raspberry-blower wrote:
Another company that no-one will mourn is heading for the receivers:

BBC: PR Firm Bell Pottinger "nearing collapse"

Quote:
The PR firm was expelled from the industry trade body after being accused of stirring up racial hatred in South Africa.


Good riddance to a charmless organisation


I saw this and thought of this thread. Then I thought, "Good riddance, shíte firm anyway, I wish these businesses didn't exist. Can't be bothered even mentioning them, fecking parasitic lying shysters. Laughing "
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raspberry-blower



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PostPosted: Thu Sep 14, 2017 12:37 pm    Post subject: Reply with quote

After bidding a good riddance to Bell Pottinger, here comes another "Going?...Gone" post.

Going? Interserve

Quote:
The company said it continues to believe that the group will be able to operate within its banking covenants for the year ended 31 December 2017


About as unconvincing as it gets. Interserve share price currently plummeting and is now a tenth of its market peak price.

Gone: Seadrill files for bankruptcy
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emordnilap



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PostPosted: Tue Sep 19, 2017 12:55 pm    Post subject: Reply with quote

Toys"R"Us filing for bankruptcy in the States, over $5 billion in debt.
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clv101
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PostPosted: Tue Sep 19, 2017 7:43 pm    Post subject: Reply with quote

emordnilap wrote:
Toys"R"Us filing for bankruptcy in the States, over $5 billion in debt.


That's pretty impressive for a company whose business strategy involves buying bits of Chinese plastic for pennies, sticking it in a shiny box and selling it from warehouses for dollars. How do you screw that up to the tune of $5bn?
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Potemkin Villager



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PostPosted: Tue Sep 19, 2017 8:56 pm    Post subject: Reply with quote

clv101 wrote:
emordnilap wrote:
Toys"R"Us filing for bankruptcy in the States, over $5 billion in debt.


That's pretty impressive for a company whose business strategy involves buying bits of Chinese plastic for pennies, sticking it in a shiny box and selling it from warehouses for dollars. How do you screw that up to the tune of $5bn?


It takes a particular type of managerial talent that is all too common.
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