The "Credit Crunch" and you? - Page 19

BBx · 26-11-2008, 18:28

Quote:

Originally Posted by Del Lardo

BBC are reporting that MFI have going into administration.

Thought this happened ages ago

my local store has been shut for a while.

Damn me buying my wardrobe from there!

BB x

Mark · 26-11-2008, 18:48

MFI went into partial administration - management bought 110 stores and the rest were closed. Now all the stores are going into administration.

Not surprised about Woolies. They were legally obliged to do that due to problems paying salaries. The fact that government ministers decided to get involved shows how bad it got.

I don't see how either company can have a long-term future now.

Zirax · 26-11-2008, 18:54

I actually walked down Moulsham Street and Baddow Road (for the locals) today to order my fireplace. A lot of places are shut now, Cantelec (electrical goods.. not far off net prices), Slipped Disc or Push Records for the oldies (excellent independant cd shop).

The Chinese we all went to, the Imperial is still there, however the other good Chinese over the road has gone

Woolworths was always going to go down, amazed that it didn't happen anyway before all this. It used to do good homewares but thats gone now and its full of tat and sweets. For some odd reason I always used to buy my sweet presents in there.... no idea why really.

BBx · 26-11-2008, 18:58

Am going to miss both of them

Bugger... there was a table and seat set we wanted in MFI.

I wonder what happens with all the stock? Did they have closing down sales?!

BB x

Edit: Sorry for the totally insensitive question

Mark · 26-11-2008, 19:01

Cantelec has gone? Last I saw (about a month ago) they had signs up saying they were closing for a refurb.

Woolies you're right - it effectively ended up being an expenive pound shop, and those two terms do not a good match make. It's been squeezed out both by the proper pound shops and the supermarkets.

Quote:

Originally Posted by BBelle

Bugger... there was a table and seat set we wanted in MFI.

I wonder what happens with all the stock? Did they have closing down sales?!

Some stores are closing immediately. The rest will trade and run down whatever stock is left up to and including the time when they either close completely or yet another buyer is found.

Ironically I've spent the last week working on a product issue reported by a Woolworths. I don't know which Woolworths it is though (and I couldn't say even if I did) - there are several companies worldwide that share the name.

Zirax · 26-11-2008, 19:10

Oh, not sure I went past and the windows were all whitened out and everything had been ripped out. Not exactly the time I would be taking to rip the shop out for a refurb if that's what has happened.

Can you remember the name of it BB? I'll take a run down to my local tomorrow morning.

BBx · 26-11-2008, 19:17

I might have it somewhere... will have to find the catalogue... its not on the website.. maybe they DID have a sale without telling me!

Thanks Z!

BB x

Nutcase · 26-11-2008, 19:40

Quote:

Originally Posted by Zirax

I actually walked down Moulsham Street and Baddow Road (for the locals) today to order my fireplace. A lot of places are shut now, Cantelec (electrical goods.. not far off net prices), Slipped Disc or Push Records for the oldies (excellent independant cd shop).

The Chinese we all went to, the Imperial is still there, however the other good Chinese over the road has gone

Woolworths was always going to go down, amazed that it didn't happen anyway before all this. It used to do good homewares but thats gone now and its full of tat and sweets. For some odd reason I always used to buy my sweet presents in there.... no idea why really.

Yeah, cantelec is shut for a refurb. Assuming that is they decide to go with it...

Slipped Discs has been shut for a couple of years I think? And the Garden Chinese was minging unless you mean't another one?

We got a stack of memos in our payslips today. The major one was stating that the company is on a reasonable financial footing, and there is little to no drop off in work (hard to tell at the mo as it always goes a bit quiet coming up to christmas), but that they had suspended payrises for the forseeable future

but the good news is no planned redundancies or other cut backs

Mark · 26-11-2008, 19:58

Yup - in current conditions a pay freeze is infinitely preferable to redundancies. I'd imagine that if you can ride out the current conditions you'd be pretty well placed to benefit from the clean-up work required when hundreds of shops get refurbished as a result of this.

Piggymon · 26-11-2008, 20:46

I'm quite lucky, we're still pretty much hitting budget every month which is surprising given our market.

I feel fortunate that my job seems secure.... although there's no telling what the future holds :/

So far Desmo and I and doing ok

26-11-2008, 18:48	#182
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	MFI went into partial administration - management bought 110 stores and the rest were closed. Now all the stores are going into administration. Not surprised about Woolies. They were legally obliged to do that due to problems paying salaries. The fact that government ministers decided to get involved shows how bad it got. I don't see how either company can have a long-term future now. Last edited by Mark; 26-11-2008 at 18:55.

26-11-2008, 20:46	#190
Piggymon Lara Croft Join Date: Jun 2006 Location: PigmoPad - Braintree Essex Posts: 8,604	I'm quite lucky, we're still pretty much hitting budget every month which is surprising given our market. I feel fortunate that my job seems secure.... although there's no telling what the future holds :/ So far Desmo and I and doing ok __________________ BF% 28/08/08 - 21%

26-11-2008, 18:54	#183
Zirax Goes up to 11! Join Date: Jul 2006 Posts: 4,577	I actually walked down Moulsham Street and Baddow Road (for the locals) today to order my fireplace. A lot of places are shut now, Cantelec (electrical goods.. not far off net prices), Slipped Disc or Push Records for the oldies (excellent independant cd shop). The Chinese we all went to, the Imperial is still there, however the other good Chinese over the road has gone Woolworths was always going to go down, amazed that it didn't happen anyway before all this. It used to do good homewares but thats gone now and its full of tat and sweets. For some odd reason I always used to buy my sweet presents in there.... no idea why really.

26-11-2008, 18:58	#184
BBx Reverse SuBo Join Date: Jul 2006 Location: London Posts: 8,673	Am going to miss both of them Bugger... there was a table and seat set we wanted in MFI. I wonder what happens with all the stock? Did they have closing down sales?! BB x Edit: Sorry for the totally insensitive question

26-11-2008, 19:10	#186
Zirax Goes up to 11! Join Date: Jul 2006 Posts: 4,577	Oh, not sure I went past and the windows were all whitened out and everything had been ripped out. Not exactly the time I would be taking to rip the shop out for a refurb if that's what has happened. Can you remember the name of it BB? I'll take a run down to my local tomorrow morning.

26-11-2008, 19:17	#187
BBx Reverse SuBo Join Date: Jul 2006 Location: London Posts: 8,673	I might have it somewhere... will have to find the catalogue... its not on the website.. maybe they DID have a sale without telling me! Thanks Z! BB x

26-11-2008, 19:58	#189
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	Yup - in current conditions a pay freeze is infinitely preferable to redundancies. I'd imagine that if you can ride out the current conditions you'd be pretty well placed to benefit from the clean-up work required when hundreds of shops get refurbished as a result of this.