Is CEX going into administration?

21
Found 19th Mar 2016
Recent massive price drops on all their games, and online trade-ins still unprocessed after 10 days.

Are they on the way out? Did they finally do a stock take on the 8000 copies of Fallout 4?

What's going on over there? I'm worried.
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hope so.
Hope not.
Potato
What massive price drops?

Ocarina of Time 3D is still £32!!!!
Banned
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Original Poster
Rambaldi47

What massive price drops?Ocarina of Time 3D is still £32!!!!



Prices dropped and trade in cash/voucher prices tanked straight to the bottom of the barrel. I know they've tried expanding to other countries a lot too...and the Americans will tear them to shreds.
the prices increased by 3 to 4 pounds just a few weeks ago so I'm thinking the massive price drops are just them putting the prices down again to their original ones.
I've a £70 voucher I've found may cash out quick
CeX isn't going anywhere guys. Due to the post Christmas overflow of peeps selling their stuff in, the company has to deal with this excess. it does this by reducing the prices across its stock to start shifting it. This obviously affects buy prices as the two are linked.

Online trade ins are obviously also affected by the swelling of stock being sent in via this method.

Also, CeX have been in the US for nearly 5 years now, so it's old news really. After recently doing Mexico, I hear Italy is the next target for world domination.
Original Poster
woody59

CeX isn't going anywhere guys. Due to the post Christmas overflow of … CeX isn't going anywhere guys. Due to the post Christmas overflow of peeps selling their stuff in, the company has to deal with this excess. it does this by reducing the prices across its stock to start shifting it. This obviously affects buy prices as the two are linked. Online trade ins are obviously also affected by the swelling of stock being sent in via this method.Also, CeX have been in the US for nearly 5 years now, so it's old news really. After recently doing Mexico, I hear Italy is the next target for world domination.



10 days to process a trade in does hint at problems though...
woody59

CeX isn't going anywhere guys. Due to the post Christmas overflow of … CeX isn't going anywhere guys. Due to the post Christmas overflow of peeps selling their stuff in, the company has to deal with this excess. it does this by reducing the prices across its stock to start shifting it. This obviously affects buy prices as the two are linked. Online trade ins are obviously also affected by the swelling of stock being sent in via this method.Also, CeX have been in the US for nearly 5 years now, so it's old news really. After recently doing Mexico, I hear Italy is the next target for world domination.


I wonder if Mexican Burglars will be happy that there is somewhere to fence their gear.
I sent something in over 16 days ago and it says 'received, queued for testing'.

I did email them and they said they are really busy at the moment as they have had a large amount of trade ins in the past couple of weeks so they busy processing all the trade ins.
sofiasar

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genius
mrwhitelabel

I've a £70 voucher I've found may cash out quick



If everybody starts using their vouchers then it just might, reputation is everything.
Banned
Blue Inc is closing!
shak

10 days to process a trade in does hint at problems though...



ok a) stop panicking about nothing....
b) stop trying to scare monger others.... alittle research on google shows they are still strong/profit making and no signs of administration
c)they are busy as anything on trade in because they have offered the best price on everything (except game..thanks price match lol)
d) they are already international...they are like the lidl of tech lol
stop worrying yesh!
shak

10 days to process a trade in does hint at problems though...



From past experience they always used to take up to 10 days to process my trade ins. Their FAQs also allow customers 10 days to send in their stuff before trade in closes, so seems about right.
Edited by: "Resali" 20th Mar 2016
not sure if it's relevant, but their founder bobby dudani died early last year. the other co-founder died in a diving accident around 2001. so who knows what's going on at the top, but it's possible the original company philosophy no longer exists and they may make some strategic decisions that may cause problems in an unforgiving market
DennisG

not sure if it's relevant, but their founder bobby dudani died early last … not sure if it's relevant, but their founder bobby dudani died early last year. the other co-founder died in a diving accident around 2001. so who knows what's going on at the top, but it's possible the original company philosophy no longer exists and they may make some strategic decisions that may cause problems in an unforgiving market



Wow don't you like to try and cause panic? It's possible...who knows so glad you gave us some facts there...I heard that a blue cow had been appointed as chair and every cex trade in would deliver a free small blueberry milkshake....

Stop assuming you know absolutely nothing the company has been running fine,is running fine so stop trying to panic people for no reason troll

Edited by: "Jonwilkie" 20th Mar 2016
119.5million turnover last year with 35% profit bit too mention they also have assets..they were also going bust in 2008,2010,2012 and 2015 and still hasn't happened.

The current ceo is David butler who is on record as stating he has no plans to move on and the last company released reports show cex are healthy
Edited by: "Jonwilkie" 20th Mar 2016
They've just moved to a larger more expensive store in my town so I doubt it.

Aren't they franchised?
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