Currys to go bankrupt this week?

skippy081

I heard from a source close to Currys that they are going to go bankrupt even before xmas. They have posted underlying losses of almost £30m in the 24 weeks to October 18 and have also problems with the insurers.

http://news.sky.com/skynews/Home/Business/Currys-Owner-DSG-International-Reports-Underlying-Losses-Of-Just-Under-30m/Article/200811415162846?f=rss

Anyone heard this news? Or has any info? thanks

PasturesNew

They're on my list of "most likely" so I'd not be surprised at all.

ad9898_3

I thought this was old news, DSG know Currys is the weak link but I don't see them cutting them down before Christmas.

hm71_2

I heard this regarding PC world (part of the same group) as our local PC world has had a re-vamp & if it doesn't improve sales they are going to shut it down. In my local town centre klick photo shop has a sign in the window regarding administrators so looks like another one to bite the dust!

Really2

skippy081 wrote: »

I heard from a source close to Currys that they are going to go bankrupt even before xmas. They have posted underlying losses of almost £30m in the 24 weeks to October 18 and have also problems with the insurers.

http://news.sky.com/skynews/Home/Business/Currys-Owner-DSG-International-Reports-Underlying-Losses-Of-Just-Under-30m/Article/200811415162846?f=rss

Anyone heard this news? Or has any info? thanks

If you read the article it said they are "prepared for the downturn" and not a mention of administration.
I don't think you will see anything before Christmas IMO.
But you do win a chicken for the most over egged title.;)

fc123

Just checked the trade press (retailweek.com) and nothing mentioned...they are usually up to date on news such as this.
I don't know how much a non subscriber can access...as I auto log in.

skippy081

Reason for the title was because I was sat on a plane to Poland a week ago with someone that works for Currys and he said around 19th Dec they are due to go bankrupt/administration, as they cannot repay their suppliers (Sony, Panasonic, Brosch, etc)... as well as a couple websites (eg ukwhitegoods) mentioning Currys being in trouble.

lostinrates

Does debtwire show stuff like this? (lost shuffles off to try and find debtwire)

kennyboy66_2

skippy081 wrote: »

I heard from a source close to Currys that they are going to go bankrupt even before xmas. They have posted underlying losses of almost £30m in the 24 weeks to October 18 and have also problems with the insurers.

http://news.sky.com/skynews/Home/Business/Currys-Owner-DSG-International-Reports-Underlying-Losses-Of-Just-Under-30m/Article/200811415162846?f=rss

Anyone heard this news? Or has any info? thanks

Oh yeh, there is no end of market sensitive insider information posted on anomynous websites like this.

6/10 for ramping effort.

Really2

City thinks it will be OK if not a bit cheap.

http://www.marketwatch.com/news/story/miner-rio-tinto-surges-lower/story.aspx?guid=9BE89FAF-E2BC-43E8-A678-558DE254E7F4&dist=SecEditorsPicks

“Shares in DSG International , which sells electrical products, jumped 13.7% after an upgrade to buy from neutral at Nomura.
"DSG is priced to fail, in our view. We believe the probability of this is overrated," the broker said. “

lethal0r

perhaps gordon will get us to bail them out.

if the taxpayer has to bail out any more companies then we'll end up having to bail ourselves out to pay for all the bailing out we've done.