woolworths for £1

dadof_monkeys

all very good comments..you also take on pension fund...
and then more than likely sack lots of staff...so lets not make to many funny comments as people will lose livelihoods!!!!!!

marvin

dadof_monkeys wrote: »

all very good comments..you also take on pension fund...
and then more than likely sack lots of staff...so lets not make to many funny comments as people will lose livelihoods!!!!!!

Actually if its true they are dealing with Hilco then its more likely they will take it over force it into administration buy the good stores back from the administrator for peanuts and let the rest go to the wall with the debt and the pension fund. Its what Hilco did with Markone its what happened with MFI earlier this year.

Not good for the staff in any store and not always good for the brand.

spaceman5

marvin wrote: »

Actually if its true they are dealing with Hilco then its more likely they will take it over force it into administration buy the good stores back from the administrator for peanuts and let the rest go to the wall with the debt and the pension fund. Its what Hilco did with Markone its what happened with MFI earlier this year.

Not good for the staff in any store and not always good for the brand.

suerly that is wrong, how can somebody force something into administration, then buy it back much cheaper, Dave

storminbalder

If you go through Quidco, you can save a further 4%.

pingu

dadof_monkeys wrote: »

all very good comments..you also take on pension fund...
and then more than likely sack lots of staff...so lets not make to many funny comments as people will lose livelihoods!!!!!!

i know what you mean

people laughing at others misery how bad is that!!!

can happen to anyone!

and yes before anyone asks!

marvin

spaceman5 wrote: »

suerly that is wrong, how can somebody force something into administration, then buy it back much cheaper, Dave

It's called a flat pack administration (Not sure if this is because MFI has done it twice now) where there is agreement to put things into receivership and then a new company not disimilar to the old one takes it over minus the bits they don't want.

Another example of this is Little Chef which did the same last year then Hilco did the same with Alders too.

Its not really new I remember years ago one Harry Moss ltd went bust and was bought up by Harry Moss London Ltd then that went bust a few years later and was bought up by Harry Moss International Ltd then that went bust just before I left them in the mid 80's and came back as Audioline ltd (their main brand at the time).