Courts Closing Down Sale...be quick

MarkyMarkD

If the business is sold as a going concern, there's no particular reason why the administrators should have a big sale.

The ridiculous customer behaviour hasn't made this any more likely either - rather the opposite.

So the only likely reason there will be any big sale is if they can't sell the business as a job lot, or the buyer of the business can't be bothered to take over the stock (which would be rather odd).

royalsteve

if you or your relatives held several thousand pounds of (now worthless) Courts shares and were given the impression that things were okay by the management, would you still feel this way?

Not sure what you mean... ???

mine was a dig at the poor management...thought that was obvious....shareholding is a form of gambling...I do it...and you take the highs and lows....harsh i know but thats shares for you

calibrax

if you or your relatives held several thousand pounds of (now worthless) Courts shares and were given the impression that things were okay by the management, would you still feel this way?

That sounds like very good management to me!

If the management had said things were bad, and it was looking very serious... what would have happened? Customers would have stayed away, investors would have pulled out, the share price would have dropped... the company would have gone under for certain.

The number one rule for management in this "sinking ship" situation is to keep the passengers happy, while you frantically bail out water behind the scenes. That way, maybe you have a chance to plug the leaks before the ship sinks.

Not much comfort to those passengers I know, but hey, that's business in the 21st century...

Steve ;D ;D

whoop-dee-doo

If customers buy from MFI, it has offered to deduct the deposit they have paid to Courts from the price.

This was in my local paper, could well apply to all branches. May be worth looking into if you are an unsecured creditor?

mez_2

Quote:If customers buy from MFI, it has offered to deduct the deposit they have paid to Courts from the price.
This was in my local paper, could well apply to all branches. May be worth looking into if you are an unsecured creditor?

This is also on MFI's website!!
http://www.mfi.co.uk/mfi/content/courts_customers.asp

MarkyMarkD

That's a very fair offer of MFI to make! Well done them.

jozshi

Had a call from the woman at Courts today to say I WILL be getting my curtains at last ;D

Had to arrange a time to meet in the car park tomorrow to collect them! Feels like we're doing some kind of illicit drug deal, not just picking up a pair of curtains

malcolmord

Its all a mad state of affairs!

MellyP_3

Insolvent furniture chain Courts has agreed a deal that will see its 88 stores reopened by 16 December.

See http://news.bbc.co.uk/1/hi/business/4092839.stm for the full news article.

rchddap1

But only 14 of those stores will remain open. The remaining stores will be closed by Feb.