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Re: High Street chain collapse sweepstake
Posted: Wed 07 Nov, 2012 18.08
by WillPS
I don't know much of company takeovers but there's suggestions in the newspapers that the owner of OpCapita stands to make millions from the downfall of Comet because, after buying the company for £2, he can drive it into the ground then flog its assets for massive profits.
How does that work? Surely he'd have taken on the company's debt when he bought it for £2, so if he does make money from flogging its assets that would have to go towards staff redundancy payments etc?
You syphon off money in to a separate company; service charges or something like that. That company then makes a ridiculous amount of money while the original one is essentially pushed over the cliff. Administrators are sent to pick up the pieces at the foot of that cliff, while OpCapita walk away with whatever they've chosen to extract from the business.
The unacceptable face of capitalism.
Re: High Street chain collapse sweepstake
Posted: Wed 07 Nov, 2012 20.32
by JAS84
Well that's disgusting. Bloody profiteering. How do they sleep at night?
Re: High Street chain collapse sweepstake
Posted: Wed 07 Nov, 2012 22.09
by WillPS
JAS84 wrote: Well that's disgusting. Bloody profiteering. How do they sleep at night?
This is what people mean when they talk about "free market". Fortune in other people's misery.
Re: High Street chain collapse sweepstake
Posted: Thu 08 Nov, 2012 16.53
by Sput
Because we're in large, comfortable Vietnamese beds
Re: High Street chain collapse sweepstake
Posted: Thu 08 Nov, 2012 16.56
by James L H
Here's the scene from my local Comet around an hour ago:
Seems there using the same POS as Woolworths and Borders when they both went into their final sales.
Re: High Street chain collapse sweepstake
Posted: Thu 08 Nov, 2012 20.58
by DJDave
Love the fact that we had that sent in at Peacocks and then the administrators said after about 3 days, hang on your own POS looks better, take this stuff down and use your own.
Re: High Street chain collapse sweepstake
Posted: Thu 08 Nov, 2012 21.04
by WillPS
It's not the same POS as that Woolies and The Pier used, nor is it the same as what Focus and Best Buy used.
Re: High Street chain collapse sweepstake
Posted: Thu 08 Nov, 2012 21.30
by James L H
WillPS wrote:It's not the same POS as that Woolies and The Pier used, nor is it the same as what Focus and Best Buy used.
You sure? The shelf edge advertising looks identical to the design that Woolies used.
Re: High Street chain collapse sweepstake
Posted: Fri 09 Nov, 2012 02.09
by WillPS
A quick Google indicates a different style used at Woolies.
Re: High Street chain collapse sweepstake
Posted: Fri 09 Nov, 2012 18.13
by James L H
Here is the design I'm on about. Took a quick pic when back in store today:
Re: High Street chain collapse sweepstake
Posted: Fri 09 Nov, 2012 18.44
by all new Phil
It can't be nice working somewhere, having to put that tat up, and having to basically flog off everything you can so they can close you and put you out of a job. I heard that the local store to me was packed the other day with people after a bargain - doesn't sit right with me to be honest.
Am actually surprised to see Comet have gone this way, especially seeing as I only bought a new telly from them the other week - for what we were after, they had the best price.
