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More companies maybe on the brink of administration....

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so many companies are doing so bad, its times like these that makes me grateful that the company that I'm employed by are still going and that I have a job, however I feel for those that are affected … Read More
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8y, 4m agoPosted 8 years, 4 months ago
so many companies are doing so bad, its times like these that makes me grateful that the company that I'm employed by are still going and that I have a job, however I feel for those that are affected by being made redundant.
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8y, 4m agoPosted 8 years, 4 months ago
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#1
http://www.retail-week.com/News/2009/01/blooming_marvellous_on_the_brink_of_administration.html

"Blooming Marvellous on the brink of administration

* Published: 05 January 2009 08:58
* Author: Lisa Berwin
* More by this Author
* Last Updated: 05 January 2009 09:50
* Reader Responses
Maternity specialist Blooming Marvellous is the latest retailer to be teetering on the brink of administration, according to reports.

The 14-store chain, owned by Icelandic investor Arev, is believed to have lined up Zolfo Cooper as administrator after Arev pulled any future funding from its retail investments, which also include Jones the Bootmaker and Mountain Warehouse.

Other Arev investments have also fallen into administration in recent months including Hardy Amies and Ghost.

Blooming Marvellous's website is currently down due to what it describes as "technical difficulties".

Arev was set up by former chief of Baugur's international operations Jón Scheving Thorsteinsson and was hit hard by the banking collapse in Iceland.

Blooming Marvellous was bought by Arev in 2007 for around £5 million."
#2
http://www.retail-week.com/News/2009/01/viyella_in_talks_over_future_of_business.html

"Viyella in talks over future of business

* Published: 05 January 2009 18:05
* Author: Amy Shields
* More by this Author
* Author: Jennifer Creevy
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* Last Updated: 05 January 2009 18:05
* Reader Responses

The future of iconic womenswear retailer Viyella hung in the balance today amid speculation the company is facing financial difficulties.



Management at the retailer, which has around 120 stores and concessions, told Retail Week that they expect to make a statement about the future of the business on Wednesday.

A source close to the retailer said the management and its solicitors are consulting with shareholders and advisors about the business' future.

A separate source said trade at the retailer had been tough and the economic downturn had weakened its position in the market. It is as yet unclear whether the retailer will be able to continue in its current form.

Staff at its Regent Street store confirmed that they were unsure as to the company's position.

The retailer, which is registered under William Hollins and Company on Companies House, was founded in 1784 and offers classic clothing for the mature woman.

In August 2007, investors Harris Watson took the brand off the market after a three month review which involved a potential sale.

Harris Watson told Retail Week that the two directors of the company were unavailable for comment. "
#3
http://www.retail-week.com/News/2009/01/mosaic_in_talks_to_secure_its_future.html

"Mosaic in talks to secure its future

* Published: 05 January 2009 09:31
* Author: Lisa Berwin
* More by this Author
* Last Updated: 05 January 2009 09:52
* Reader Responses

Fashion group Mosaic is to begin talks with its lenders in an attempt to secure the future of the business.

Mosaic, which owns chains including Karen Millen, Oasis and Principles, will enter talks with Icelandic bank Kaupthing about its working capital after being hit by tough trading and the withdrawal of some of its credit insurance.

According to The Sunday Times, Mosaic, which is backed by Baugur, is not paying any interest on its estimated £400 million of debt at present, which is being controlled by a government appointed committee running Kaupthing since the collapse of the Icelandic banks.

It is understood that if the retailer was to start making interest payments its financial future would be put in jeopardy.

Mosaic is also said to have been looking for a debt-for-equity swap with potential suitors including Sir Philip Green and private equity group Alchemy.

If no deal can be reached the retail group faces possible administration as the management team would not want to break City rules that do not allow a business to trade that is technically insolvent."
#4
http://www.retail-week.com/News/2009/01/passion_for_perfume_set_to_go_into_administration.html

"Passion for Perfume collapses into administration

* Published: 05 January 2009 12:06
* Author: Lisa Berwin
* More by this Author
* Last Updated: 05 January 2009 13:49
* Reader Responses
Update: Perfume retailer Passion for Perfume has been placed into administration.

The retailer made 185 staff redundant across its 45 stores on December 31. It also made nine redundancies at its Manchester head office.

Bill Dawson and Ian Brown of Deloitte have been appointed as joint administrator to the retailer.

Dawson said: "We will continue to seek a buyer for the business and assets of the company but do not intend to trade the business."

Passion for Perfume was founded in 2004 by Brendan Flood, head of Modus property and private equity business.

In 2006 Passion for Perfume had a turnover of £5.9 million and had hoped to become profitable in 2007. Shareholders stopped funding the still loss-making business in summer last year. "
#5
Marks and spencers are looking to cut jobs...

http://uk.news.yahoo.com/22/20090106/tts-uk-marksspencer-jobs-13002c7.html

Marks & Spencer is set to cut more than 1,000 jobs in stores, its head office and support functions following disastrous Christmas trading, The Times web-site reported on Monday.

The newspaper said the iconic high street chain would announce the cuts on Wednesday, when it is due to release a trading update to the City.

A spokeswoman for M&S declined to comment.

The news comes as retailers across the board are expected by analysts to announce terrible sales figures over Christmas, while some, such as Ireland's Waterford Wedgwood on Monday, have called in receivers."
#6
http://uk.news.yahoo.com/5/20081230/tbs-small-firms-facing-grim-new-year-327c223.html


"More than 500 businesses could go under every week next year as Britain plunges into recession.

A lobby group is predicting as many as 30,000 small firms will go under in 2009 with the loss of 200,000 jobs.

The Federation for Small Businesses (FSB) says urgent action is needed to help the sector cope with the economic downturn.

It wants interest rate charges on credit cards to be capped and measures to ensure companies are paid on time, to keep their cash flow going.

In a New Year message, FSB chairman John Wright also called for a limit on the "tide" of regulations he claims are "drowning" small firms.

"With base rates at 2% and falling, the Chancellor and the Bank of England must look into capping interest rates charged on credit cards.

"A cap on interest rates will at a stroke not only reduce business costs but give consumers a real boost and cut the cost of borrowing."

Mr Wright said 2009 must be a "year of action" for small businesses.

"The small business sector is the sector to see the UK out of the recession." he said. "
#7
I think you just want to give everyone the 'feel good' factor

er not

I used to work for a local authority - and our department was outsourced to a private company - one who never paid its bills - and I worked in the finance department - receiving calls from distraught small businesses - who hadn't been paid for months - I got out at the first available opportunity and volunteered for redundancy - at over 50 years of age - and 2 years later - temping - I have never been out of work - and never been happier - cos if I don't like the job - I leave - which I have done on 3 occasions so far.

So for any of you out there - don't be glum - see it as a challenge - and a new beginning - and you may wish - like I did - that you'd done it years earlier
banned#8
ILIKEBARGAINSME;3965038
I think you just want to give everyone the 'feel good' factor

er not

I used to work for a local authority - and our department was outsourced to a private company - one who never paid its bills - and I worked in the finance department - receiving calls from distraught small businesses - who hadn't been paid for months - I got out at the first available opportunity and volunteered for redundancy - at over 50 years of age - and 2 years later - temping - I have never been out of work - and never been happier - cos if I don't like the job - I leave - which I have done on 3 occasions so far.

So for any of you out there - don't be glum - see it as a challenge - and a new beginning - and you may wish - like I did - that you'd done it years earlier

Well said! I think a major factor is the constant bombardment by the media of how bad things are and that we shouldn't spend anything etc etc. it's like a self-fulfilling prophecy.

This thread and its ilk doesn't help either.
#9
My husband is being laid off in March so if anyone knows of any driving jobs in Kent could they give me a shout please. Perhaps we could start a job search section!
#10
pontins at hemsby has closed down - how many hukders got 4 day freebie last year here - quite a few!

not only people there out of a job but also businesses who rely on holiday makers - domino effect -
#11
debbielon
My husband is being laid off in March so if anyone knows of any driving jobs in Kent could they give me a shout please. Perhaps we could start a job search section!


job section brill idea my son has been laid off and new baby due in may
banned#12
debbielon;3965064
My husband is being laid off in March so if anyone knows of any driving jobs in Kent could they give me a shout please. Perhaps we could start a job search section!

make sure he gets claiming as soon as he ends work (JSA, Housing benefit, council tax benefit). Even if he gets a job within a few weeks, its still money you are entitled too.

http://www.jobcentreplus.gov.uk/JCP/customers/index.html
#13
csiman
make sure he gets claiming as soon as he ends work (JSA, Housing benefit, council tax benefit). Even if he gets a job within a few weeks, its still money you are entitled too.

http://www.jobcentreplus.gov.uk/JCP/customers/index.html


Thanks for that but I don't think we will be able to claim anything as I am working and we will be just above the amount when you can get help :roll: Perhaps I should go to the social and make out I don't speak English :whistling:
#14
Marks and Spencer...............................This isn't just any P45 This P45 comes lovingly wrapped in a crisp white envelope With gorgeously detailed fine writing
#15
well the NHS is booming and still recruiting
banned#16
At this rate every town in the UK will have the following shops at the end of 2009:

McDonalds
Poundshop
Charity shop

....that's it.
We could survive off that. McDonalds sells "food" (of sorts) you can get household stuff and drinks from Poundshop and we can buy clothing from charity shops.
#17
DanJackson
At this rate every town in the UK will have the following shops at the end of 2009:

McDonalds
Poundshop
Charity shop

....that's it.
We could survive off that. McDonalds sells "food" (of sorts) you can get household stuff and drinks from Poundshop and we can buy clothing from charity shops.


and starbucks...oh and subway
#18
holly100
pontins at hemsby has closed down - how many hukders got 4 day freebie last year here - quite a few!

not only people there out of a job but also businesses who rely on holiday makers - domino effect -


Yh I did, well paid £40 for the upgrade. I'm absolutely gutted about this, was hoping to go again this yr as had such a laugh. I really feel for the small shops, resteraunts etc near by - they must be devastated
#19
How sad, spent many a happy £9.50 there.......
#20
I'm amazed at how long it's taken for the Passion For Perfume news story to be published as they went into administration over two months ago :w00t:
#21
debbielon
Thanks for that but I don't think we will be able to claim anything as I am working and we will be just above the amount when you can get help :roll: Perhaps I should go to the social and make out I don't speak English :whistling:


hiya, you should still be able to claim as there is two types of jsa, one based on house income and the second on your class1 national insurance contributions paid over the last two tax years.so if he has been working for the past three years or so should be entitled to jsa cont based, they will not take into account your wages.:-D

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