Halfords next to go???

Discussion in 'General Business Forum' started by ryansrs1, Dec 22, 2008.

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  1. cjd

    cjd UKBF Legend Full Member - Verified Business

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    Adams (260 UK stores) will go into liquidation tomorrow.

    The Sunday Times is saying that Focus DIY, Wyevale (garden centres), Clinton Cards and World of Leather are looking dodgy too.

    I'm waiting for the media to tell us the real story behind all this - Adams was just about profitable - I suspect that it's banks and suppliers are just calling in their debts.
     
    Posted: Dec 28, 2008 By: cjd Member since: Nov 23, 2005
  2. kerching

    kerching UKBF Newcomer Free Member

    182 25
    Have these companies been operating on the edge for sometime then?,
    Just looks as if the gap between success or failure is wafer thin.
     
    Posted: Dec 28, 2008 By: kerching Member since: Aug 10, 2008
  3. Dawg

    Dawg UKBF Newcomer Free Member

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    The FT had a somewhat surprising statement that there are at least 20 'packed to go', (I can't remember the exact phrase), administrations coming up in January. That is, companies going into administration with a buyer already lined up, contracts ready to be signed, trading continued with little or no interruption.

    As Marx might have said: " Skint Companies of the world rise up! You have nothing to lose but your debts". (But he didn't 'cause he was a commie, or summit.)

    PS I saw Topps Tiles are on the Not Waving but Drowning list.
     
    Posted: Dec 28, 2008 By: Dawg Member since: Feb 12, 2006
  4. nateski

    nateski UKBF Newcomer Free Member

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    on christmas day my wifes 89 year old grand pa said 'halfords may go in jan', he based this on the fact they are always quite, not that cheap and the service isnt great - wisdom comes with age eh!
     
    Posted: Dec 28, 2008 By: nateski Member since: Dec 28, 2008
  5. Matt1959

    Matt1959 UKBF Legend Free Member

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    lol, well I guess you could say (1) always quiet - maybe he went in at the wrong times (2) not that cheap - I would have said Halfords are there for convenience and that doesnt come cheap. (3) service not great - thats subjective and bound to differ store to store:)
     
    Last edited: Dec 28, 2008
    Posted: Dec 28, 2008 By: Matt1959 Member since: Sep 8, 2006
  6. cjd

    cjd UKBF Legend Full Member - Verified Business

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    USC clothing now gone into admin. 58 Scottish stores.

    But 43 immediately bought back from the administrator by a company "linked to the former owners"

    There's something very like fraud going on here.
     
    Posted: Dec 29, 2008 By: cjd Member since: Nov 23, 2005
  7. Subbynet

    Subbynet UKBF Legend

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    The only differentiator between Halfords and [Every Other Independent Car Shop] is the bike department. :rolleyes:

    In my town - and no doubt countless others, Halfords sell nothing unique, at the cheapest price, or even at the most convenience.

    Thankfully for them, Halfords is a good brand that people remember. You can spot a Halfords store from a thousand paces (these paces are normally on a Retail Park these days tho!) Its on this point alone that I think Halfords still exists at all.
     
    Posted: Dec 29, 2008 By: Subbynet Member since: Aug 1, 2005
  8. Subbynet

    Subbynet UKBF Legend

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    Posted: Dec 29, 2008 By: Subbynet Member since: Aug 1, 2005
  9. stevon

    stevon UKBF Regular Free Member

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    Aye, West Coast Capital, owned by Sir Tom Hunter... Landlords will be going all out to chase them down for that one like. Basically it's a cheap way of cutting between 300-500 jobs, probably reducing wages and neogotiating new contracts with suppliers. Makes sense but hardly ethical, especially from "SIR" Tom himself.

    Bet he's ordered a pile of stock before calling in PWC as well!
     
    Posted: Dec 29, 2008 By: stevon Member since: Mar 26, 2008
  10. cjd

    cjd UKBF Legend Full Member - Verified Business

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    It's called pre-pack(aged) apparently.

    I've been reading a little about it. There's an extreemly ironical defense of the system here:

    http://www.accountancyage.com/accountancyage/features/2200530/defence-pre-packs

    I say ironic because they use Adams as an example of how it is a good idea - they went 'pre-pack' in 2006. Unfortunately they are now very publically bust. Anyone for pre-pre-pack?

    "Of course some creditors lost out......"
     
    Posted: Dec 29, 2008 By: cjd Member since: Nov 23, 2005
  11. Comspec

    Comspec UKBF Newcomer Full Member - Verified Business

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    All fine and dandy - but what if the creditors are already getting it tight? Losing out on these debts might push some of them over the edge.

    This has to be verging on fraudulent imho.
     
    Posted: Dec 29, 2008 By: Comspec Member since: May 8, 2006
  12. KidsBeeHappy

    KidsBeeHappy UKBF Newcomer Full Member

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    Wyevale is Tom Hunter too.
     
    Posted: Dec 29, 2008 By: KidsBeeHappy Member since: Oct 9, 2007
  13. nateski

    nateski UKBF Newcomer Free Member

    41 8
    black items cos they always fade and dont buy wool unless you are willing to handwash them with the right chemicals and wet dry them etc....

    jackets and jeans last forever, t-shirts are great, buy more and thus wear them less..
     
    Posted: Dec 29, 2008 By: nateski Member since: Dec 28, 2008
  14. cjd

    cjd UKBF Legend Full Member - Verified Business

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    Now there's a happy coincidence.
     
    Last edited: Dec 29, 2008
    Posted: Dec 29, 2008 By: cjd Member since: Nov 23, 2005
  15. sirearl

    sirearl UKBF Legend Free Member

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    I wonder how much of the promised 1 billion old uncle Tom has given to charity.?

    before he dies of course.

    I think I could afford to make a promise like that.:rolleyes::D

    Earl
     
    Posted: Dec 29, 2008 By: sirearl Member since: Apr 23, 2007
  16. saracen

    saracen UKBF Newcomer Free Member

    855 66
    I was thinking JJB would be next to close up this week, but im not so sure now, have been keeping an eye on the trades and info all day, it may just turn around and survive. For now.

    Oops, maybe that was the kiss of death :|
     
    Posted: Dec 29, 2008 By: saracen Member since: Oct 7, 2007
  17. nateski

    nateski UKBF Newcomer Free Member

    41 8
    :) hi maria

    i agree about the bigger stores, however the real ones killing everyone are the super markets - i think they need to be stopped opening more stores for at least 36 months
     
    Posted: Dec 29, 2008 By: nateski Member since: Dec 28, 2008
  18. Goodegging

    Goodegging UKBF Newcomer Free Member

    305 4
    surely, the larget firms like halfords who have too many staff can cut back to a level to stay alive and also with all the profits used to tie them over. I would have thought that the smaller firms with tougher cash flow forecasts would suffer quicker and die quicker. if it was so easy for smaller firms why dont larger firms take leaf out of their books. i mean pc world have better buying power than your smaller computer supplier so they should be able to sell at better price.
     
    Posted: Dec 29, 2008 By: Goodegging Member since: Oct 5, 2006
  19. Goodegging

    Goodegging UKBF Newcomer Free Member

    305 4
    Its all down to the badge you want on your car, or can afford, just look at Mercedes - all styl and no substance!
     
    Posted: Dec 29, 2008 By: Goodegging Member since: Oct 5, 2006
  20. Goodegging

    Goodegging UKBF Newcomer Free Member

    305 4
    just like carrier bags too - would you rather walk down the road with designer label bag, or even footlocker bag or something like a Lidl bag or Poundland bag - - you can tell allot by a person by the bag they have - it speaks volumes along with the badge on cars too.
     
    Posted: Jan 1, 2009 By: Goodegging Member since: Oct 5, 2006
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