Currys to go bankrupt this week?

scousethife

Im not suprised to be honest. I have visited Currys a few times and and never once have I been able to buy a chicken byriani, its beyond ridiculous.

And dont even get me started on my shopping holliday to Lapland looking to purchase a dancer.

bo_drinker

Get Christmas out the way then their and many others days are numbered, may stretch to Jan sales.

Mother wants a cheap telly after xmas :j

lostinrates

wageslave wrote: »

The group traditionally pulls in about 70% of its business from mid October until mid January. It wouldn't make any sense to pull the plug on them any earlier.

Theoretically I assume thats why a company could be closed: if during the time of peak takings losses were being made (not that I know what the situation with Currys is, just a hypothetical)

lisaloo1977

bo_drinker wrote: »

Get Christmas out the way then their and many others days are numbered, may stretch to Jan sales.

Mother wants a cheap telly after xmas :j

What happens when all these people do go out of business? Do you think things will be cheap when certain companys have the monopoly on where you buy from?

robin_banks

I don't know if Curry's will go under, one thing's for sure as a brand/ organisation I won't be sorry to see the back of them, IMHO they've been a bloody shoddy outfit for years.

inspace

Just my ten pence worth - but if your all worried about stores closing and companies failing go in a spend some money.

No one cared when all the corner fruit and veg shops closed the butchers dissapeared ect when the big superstores took over.

Then again when they started selling cheap TVs and such - leading to all the smaller Tv shops closing.

Now its the turn of the larger stores - why is it we pile into mega stores for everything we need - because it works and its easier.

We all sit in front of the PC trawling for the best deals and then get it delivered within a few days - because it works and its easier.

On another post I read someone saying "I cant believe Woolies is shutting down I remember when I used to ............." .

This is my point times change and people change and the older style of retail is on the way out maybe the financial hurdles have sped things up but they had no chance anyway.

Mrs_Ryan

Never buy a cheap telly from Currys.

I used to work on their 'product support' helpline and we got a LOT of calls about their own brand LCD's blowing up. Literally. Beware!

fc123

inspace wrote: »

Just my ten pence worth - but if your all worried about stores closing and companies failing go in a spend some money.

No one cared when all the corner fruit and veg shops closed the butchers dissapeared ect when the big superstores took over.

Then again when they started selling cheap TVs and such - leading to all the smaller Tv shops closing.

Now its the turn of the larger stores - why is it we pile into mega stores for everything we need - because it works and its easier.

We all sit in front of the PC trawling for the best deals and then get it delivered within a few days - because it works and its easier.

On another post I read someone saying "I cant believe Woolies is shutting down I remember when I used to ............." .

This is my point times change and people change and the older style of retail is on the way out maybe the financial hurdles have sped things up but they had no chance anyway.

I push these 2 books whenever I can;
Tescopoly by Andrew Simms.
Shopped by Joanna Blythman.

The whole retail landscape is changing but one of the biggest effects of Oligopoly type businesses taking over large parts of an area is that the profits get sucked out of it into some central H/O somewhere. They just provide a few min wage 4 hour contract type jobs.

Taxes on profits are often not even paid in the UK. Arcadia for example, who own BHS, Top shop, Dorothy Perkins, Topman, Miss Selfridge etc.
When the Bauger crisis hit, so many people had no idea how many different retail fascias they had shares in.

I own a shop. When it does well, I spend the profits locally. I use local repair people, buy stock from other small businesses and care about the immediate area outside.
My street is 9 units. When I opened nearly 11 years back, it was ALL local independent incl 2 coffee shops. 7 units are now chains. The other Indie is closing within the next 6 months and will deff go to another chain (as that's what our LL likes in his portfolio).
When I go, my unit will be occupied by a chain too....probably staffed by min wage part timers selling imported goods...the main beneficiary will be my Landlord who will then be able to get 'Top Rent'.

If my neighbours have a busy weekend, the staff are paid the same...they are just more tired.

A local pizza place has been suffering from the old 2 for 1 offers as we have all 3 fascias from same company all 2 mins away; Pizza Express, Ask and Zizzi. The owner would regularly pop in and buy something after a hectic but profitable weekend. If she matches the offers, there's no margin in it.

The staff at the above 3 chain pizza places don't earn more as, according to the smoking ones who chat outside, the 2 for 1 customer doesn't tend to tip.

fc123

lisaloo1977 wrote: »

What happens when all these people do go out of business? Do you think things will be cheap when certain companys have the monopoly on where you buy from?

I would like to thank this 3 times.:D

wageslave

The economic landscape of our lives is changing before our eyes. Banks, blue chips companies and retail chains are beginning to resemble the dinosaurs when the meteor hit.
I have no idea what will emerge when this is over but as the Chinese would say, we are living in interesting times.....