Currys to go bankrupt this week?

michaels

Well It's friday and they are still around. Anyone expecting any announcement till after Christmas?

mentat72

scousethife wrote: »

I think you find the chinese say - we are riving in intelesting times actually

I thought a scouser would have known better than to make such a sweeping generalisation. And yes, I do appreciate the irony of that statement.

dad-of-4

Jakg wrote: »

All PC Worlds are getting revamped, and DSG have enough cash to do every PCW / Curries in the country saved away
Then you've been out of the loop too long - Curries are making a loss while PC World almost made enough money to make up the defecit.

thats not what i heard, one of the lads in our local branch recconed they had had to fight to get the refit & stop it going alsewhere when i was in their in the last days before they closed for it.

Ironicly, i made a joke saying "are you sure its getting a refit, and you just havent had your redundancy letter thru the post"

drbeat

dad-of-4 wrote: »

Jakg wrote: »

All PC Worlds are getting revamped, and DSG have enough cash to do every PCW / Curries in the country saved away
Then you've been out of the loop too long - Curries are making a loss while PC World almost made enough money to make up the defecit.

thats not what i heard, one of the lads in our local branch recconed they had had to fight to get the refit & stop it going alsewhere when i was in their in the last days before they closed for it.

Ironicly, i made a joke saying "are you sure its getting a refit, and you just havent had your redundancy letter thru the post"

Not sure if everyone is talking about the same retailer here: Currys or Curries. Now i know Currys is part of DSG but Curries? Is that a new Edwina Curries chain of stores that sell memories of the 80s/90s recessions?

Mary_Hartnell

michaels wrote: »

Well It's friday and they are still around. Anyone expecting any announcement till after Christmas?

Yes but its not the 13th until tomorrow.

Lets face it, the time to bury bad news is lunch time on Xmas eve.:eek:

Watch out for a Santa Clause rally and the announcement of bad news if you are sober at the time.:rotfl:

Oblivion

Not so long ago I would have put money on Jessops folding, but they seem to have put together a survival package by trimming the number of outlets, and refinancing their debt with HSBC until the end of 2011. They just have to hope that the economy starts turning around by then.

Looks like they got lucky with HSBC, but in theory other big retailers like DSG who can convince the banks they do have a future (unlike Woolies), could come up with similar survival plans.

Dave.

Jakg

dad-of-4 wrote: »

thats not what i heard, one of the lads in our local branch recconed they had had to fight to get the refit & stop it going alsewhere when i was in their in the last days before they closed for it.

I really doubt that DSG would realy spend £1m on a refit (Colchester PCW - a fairly small store, cost a little over £1m) for a shop that was likely to close - obviously they saw potential.

BTW - Looking at the targets for Colchester PCW (I don't work there btw!) DSG head-office guys seem to think that a shiny new shop will make them magically pull in £20k a day extra - and it ain't happening!

Swans1912

I bought a TV stand and Dyson from DSG (Curries) only because they were the cheapest (shockingly) at the time.

They have turned me away again and again because they wouldn't price match even if it meant dropping £10! Surely this must be a big factor in their fall?

I would hate to add up the amount of money I ALMOST spend there but didn't becuase they failed to price match.

EDIT: If they did go - I will be ready and waiting to pick up some bargains.

Jakg wrote: »

BTW - Looking at the targets for Colchester PCW (I don't work there btw!) DSG head-office guys seem to think that a shiny new shop will make them magically pull in £20k a day extra - and it ain't happening!

Out local Comet did a MASSIVE refit and It certainly got me in there on opening - Like most people however I left after spending ZERO money. 20K extra is a fair ask!

sdooley

amcluesent wrote: »

Anyone else gone short?

Shorters can get very badly burnt when a company is in the position DSGi is in* - it'll either refinance and rise sharply or shareholders will be wiped out - in which case you end up arguing with your counterparty what the settlement value of the trade is - not to mention stop losses/margin calls potentially taking you out of the trade on a spike (even if your bet ends up being right in the long run).

HIGH RISK - anyone playing these games better be prepared to lose more money than they put up front.

* I have no more knowledge than the next man whether DSGi will do ok through the recession - but I would guess spread betting firms will make more money from their clients than their clients do from them.

neverdespairgirl

SingleSue wrote: »

I would agree with M & S although not for their underwear....I like their food and on occasions we treat ourselves to one of their fresh chickens and yorkshire puddings.
.

I like M & S grub as well, but we don't have it that often as it is rather pricey.

One thing I absolutely loathe about their shops, though, is the mountains of sweets etc they have near the checkouts. I hate shops that do this (Sainsburys does, as well) as it seems designed to make harrassed parents give in to their little darlings' demands. I don't give in, but don't welcome the hassle.