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Wanderers Ways. Neil Thompson 1961-2021

The Credit Crunch


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they haven't got a pot to p?ss in

 

Quite literally, if you see who's affected!

 

Waterford Wedgwood UK Plc

Wedgwood Limited

Josiah Wedgwood & Sons Limited

Josiah Wedgwood & Sons (Exports) Limited

Waterford Wedgwood Retail Limited

Royal Doulton Ltd

Royal Doulton (UK) Limited

Royal Doulton Overseas Holdings Ltd

Stuart & Sons Limited

Statum Limited

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There should be a dead pool for companies.

 

Wonder which company will be next to go up in smoke :blink:

I don't know how Debenhams have held on for as long as they have, they surely must be due to go anytime soon. They currently have a stock market value of c?200M and debts of c?977M - I'm no expert, but that can't be a healthy situation to be in.

 

I also think Next should go, just because I hate the shop

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Airlines and tour operators are possible casualties of the falling value of the pound against the euro, as it threatens to put overseas holidays out of the reach of cash-strapped British consumers. Thomas Cook and TUI Travel, however, are ?vigorous? hedgers of currency and Thomas Cook has steadily diversified so it can capture demand for non-eurozone destinations. Likely winners include Whitbread, which may benefit from a predicted surge in Britons holidaying at home, primarily through its budget Premier Inn chain (Times 3 Jan).

 

Travelodge reports more than half of British holidaymakers plan to stay in the UK this summer, with Blackpool and the West Country among the favourites. Its survey of 3,500 people was good news for the domestic tourism industry but MD Guy Parsons warned Britain was failing to capitalise on the weak pound to draw in foreign visitors. Elsewhere Hotels.com revealed prices paid for rooms across the UK fell for the first time in four years as hoteliers tried to maximise occupancy. Prices dropped 4% in Q308 to ?97 per room per night (Observer 4 Jan).

 

UK plc

 

According to Oxford Economics Britain will slip down the international wealth league table this year. In 2007, Britain was the wealthiest of the world?s six leading economies ? beating even the US ? with GDP per person of $45,970. But due to the falling pound that is expected to drop to $35,243 this year, putting Britain bottom of the six for the first time since 1996 (Telegraph 2 Jan).

 

The Chartered Institute of Personnel and Development expects the recession to claim 600,000 UK jobs in 2009, making it the worst year for redundancies in two decades. The British Chambers of Commerce is calling for a freeze in the minimum wage because it claims businesses cannot afford higher costs (Times 29 Dec).

 

The FTSE-100 recorded its worst performance in its 24-year history in 2008, falling 31%. The FTSE-250, meanwhile, lost 40% of its value last year. HBOS was the worst performer in the blue chip index, plunging more than 90% as a result of the banking crisis (Independent 1 Jan).

Edited by Smiley
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Based on the woolies principle of selling at lot of nothing at over inflated prices, WH Smith must be a favourite to go soon as well

I must admint, I have wondered for a while how WH Smith keeps going. What do they sell that you can't get cheaper from Amazon or a Supermarket? - I don't see what their "USP" is anymore

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WHS are trading on being an old established brand just like Woolies.

 

They're doomed, as are department stores.

 

Dept. stores stay in business, becuase of the convenience of buying several items in the same place, but the internet and people's desire to cut costs will see off the likes of all but the larger groups.

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I must admint, I have wondered for a while how WH Smith keeps going. What do they sell that you can't get cheaper from Amazon or a Supermarket? - I don't see what their "USP" is anymore

 

not bought anything in smiths since i stopped buying Fighting Spirit Magazine.

 

If i want a book i go to waterstones or Amazon

 

don't buy any papers or mags anymore

 

Stationary is cheaper at the supermarket or Staples

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not bought anything in smiths since i stopped buying Fighting Spirit Magazine.

 

If i want a book i go to waterstones or Amazon

 

don't buy any papers or mags anymore

 

Stationary is cheaper at the supermarket or Staples

 

 

I don't pay for standing still in any of those shops - how much do you pay?

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WH Smith reported a hefty profit last year - that's down to the concessions, which piss money at airports, stations, hospitals etc. Think the high street store do ok too, guessing because they have low overheads (when was the last time the one in Bolton had a makeover)?

 

High street will change - it has to - but much of that will be down to how much debt these stores were carrying before the credit crunch. There's still plenty of money out there and people are still spending, just the dead wood we'll lose (Woolies for a cert) and sadly, some of the independents (I'd be worried if I worked at Whitakers).

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WH Smith reported a hefty profit last year - that's down to the concessions, which piss money at airports, stations, hospitals etc. Think the high street store do ok too, guessing because they have low overheads (when was the last time the one in Bolton had a makeover)?

 

High street will change - it has to - but much of that will be down to how much debt these stores were carrying before the credit crunch. There's still plenty of money out there and people are still spending, just the dead wood we'll lose (Woolies for a cert) and sadly, some of the independents (I'd be worried if I worked at Whitakers).

 

whittakers is owned by Beales who own plenty of local deparment stores so should be ok

 

Smiths also have a massive distribution arm of papers and mags to newsagents and corner shops

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whittakers is owned by Beales who own plenty of local deparment stores who will also be struggling! so should be ok very worried

 

Smiths also have a massive distribution arm of papers and mags to newsagents and corner shops

 

I think it's perilous for both.

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