Zavvi RIP

bo_drinker

lrr wrote: »

I think in January the bubble will well and truly burst for a lot of people living in la la land with credit card bills up to their eyeballs!

I agree. The !!!!!! will hit the fan big time. Then they will have to wake up and smell the coffee. Never had a CC never want one. Is Zavvi anything to do with Branson then or did he get out at the right time.

drbeat

huntersc wrote: »

all the shops that are going under haven't been run very well, don't offer what the customer wants, tend to treat the customer badly and don't deserve to be on the high street.

The fact that their - and other's - business model relied on a pyramid of credit makes no odds though. Pure coincidence that they've gone under at a time where the plastic fantastic is no longer in abundance?

drbeat

!!!!!!? wrote: »

Shows exactly how much of our economic 'success' was based on nothing more than cheap credit.

The real pain starts when all that credit has to be repaid, right now we're just suffering the effects of an abnormal credit bubble going away. Throw in the need to pay back debt and the economy will take much longer to recover than normal.

!!!!!!, I'd say it has been more to do with 'easy' rather then 'cheap' credit.

People paying back their debts are a financial institution's worse nightmare as they operate on debt and interest! In fact if everyone did pay back their debts there would be no money in circulation as money itself has been borrowed from somewhere i.e. your company most likely borrows from a bank to pay their staff and then repays with interest when a customer pays them, the customer borrows to pay your company blah blah blah!

bo_drinker

And then the cup ran dry... Reality kicks in in the new year.

neverdespairgirl

robin_banks wrote: »

Thee last time I went into a zavvi was about 3 months (brunswick centre nr russell square) everything and I mean everything was overpriced and no !!!!!! was in there, partly becuase there wasn't a great range of stuff in there.

This really has come as no surprise, and I feel sorry for the staff.

Yes, I've walked past that a few times, and it's always been like the Marie Celeste.

neverdespairgirl

SouthCoast wrote: »

How many more are unable to pay their rent?

The quarter days are Christmas Day, Lady Day, Peterstide, and Michaelmas. (25th Christmas, 25th March 24th June, 29th September)

pickles110564

mewbie wrote: »

Would it help these companies if local rates were reduced? Would this mean Brown actually doing something, rather than talking about doing something.

Some of the rates in Felixstowe are more expensive than London, Broon has alot to answer for, perhaps he will do a maxwell when then fan gets well and truly caked.

vivatifosi

Have just returned from my local town where I walked passed Zavvi. There are signs in the window saying that if you have gift vouchers then you need to contact the administrators. There will be some very upset people once they realise that they have bought Christmas vouchers for children who now find that they can't use them. Very sad, if only they'd lasted another week.

OfficeSpace

vivatifosi wrote: »

Have just returned from my local town where I walked passed Zavvi. There are signs in the window saying that if you have gift vouchers then you need to contact the administrators. There will be some very upset people once they realise that they have bought Christmas vouchers for children who now find that they can't use them. Very sad, if only they'd lasted another week.

I've bought my brother and his girlfriend Zavvi vouchers. Thankfully a small amount (£15 each) as i had bought them much bigger birthday presents very recently. That said if i had spent over £100 i could claim back on my credit card i think. Guess we'll all go to the bottom of the administrators pile and wait to be told to do one!

sdooley

HappyMJ wrote: »

What about the gift vouchers? Should I go out now and spend them today?

Odd Woolworth's administrators have honoured them, maybe there's some money in a segregated account. But other retailers have refused to honour vouchers bought before they went under. Lewis's in Liverpool didn't let you use the vouchers unless you spent more - e.g. spend £20, you can use the £10 voucher.