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wasn't it just good gear that lost its way (probably onto Bolton market) and thus ended up being worn by notrights, etc - and also got ripped off with lots of snide copies?

I had a couple of pairs of Burberry jeans years ago and they were feckin' good quality - and they didn't have that silly pattern all over them!

I think it probably was all the snide copies that did for them..........in a similar way to Louis Vuitton being copied left right and centre. It was always good to see the classy girls of Bolton (or any big town/city) wandering into pubs with their Louis Vuitton bags and purses, and then trying to scratch enough coppers together to get a Blue WKD

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http://www.theboltonnews.co.uk/news/406042...administration/

 

EMPIRE Direct, which has two stores in Bolton, has gone into administration.

 

The electrical retailer announced the closure of all 14 of its stores. The Bolton shops are in Blackburn Road, Astley Bridge, and Trinity Retail Park in the town centre.

 

Not good, sympathies to anyone who works there.

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http://www.theboltonnews.co.uk/news/406042...administration/

 

EMPIRE Direct, which has two stores in Bolton, has gone into administration.

 

The electrical retailer announced the closure of all 14 of its stores. The Bolton shops are in Blackburn Road, Astley Bridge, and Trinity Retail Park in the town centre.

 

Not good, sympathies to anyone who works there.

 

That's weird, as I drove past the Blackburn Rd one on Sunday, I noticed that they had purchased the land next to it ready for expansion! Presumed they were still doing good business.

 

So with Miller Bros and Empire gone, I guess the likes of Comet are a bit safer?

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You'd have thought the others were a bit safer, but it's not necessarily the case.

 

DSG International who operate the Dixons, Dixons Tax Free, Currys, Currys.digital, PC World and Electro World brands are in deep shit too.

 

Also the Home Retail Group (Argos & Homebase etc) are discussing possible redundancies.

 

Honda have stopped all UK production.

 

The Otto Group (Freemans & Grattans etc) are planning a ?wide-ranging and significant restructuring of the business and its finances.?

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All retailers too.

 

Folk have stopped spending for obvious reasons, which has created a massive snowball effect.

 

Confidence is the key, get it sorted and the rest will follow.

 

Watch out for the spin doctors over the coming months.

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My Credit Card company wrote to me today to tell me that as a 'valued customer' they thought they would write to me to tell me they are putting the APR up on my card to 20.8% for purchases and 25.4% for cash advances from March 09

 

It's currently less than 10%

 

In addition, on their home page they are advertising a 8.5% rate for new customers fixed until August 2012

 

Now, apparantly the reason for this is because the cost of borrowing has gone up

 

I'm glad I'm a valued customer and not one that they dislike.

 

Needless to say, I've had the card up my arse since reading the letter, I shall be posting it back to them tomorrow once it's sufficiently soiled

 

Oh and I thought I'd give them a ring to b?llock them first but it would appear their call centre is now in the Phillipines so phone went down after 5 seconds

 

Hope they go bust now the c?nthouses

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I'm thinking of bucking the trend and borrowing as much money as I possibly can

 

Once the bills start dropping I'm going to remind them that I'm actually doing them a favour by putting all this lovely money back in the sytem by buying pick 'n' mix, holidaying in Devon, driving a new Rover and eating exclusively at chip shops with union jacks on the front.

 

I fully expect the creditors to write off all debts and send me a big thankyou card and some Milk Tray.

 

In addition, I am currently sat wearing only my smallest knickers due to fact my house is heated to 45 degrees. Every light is switched on and the taps have been running full whack since the weekend. The utility companies owe me a credit note and a big thankyou for not being a tightwad too.

 

I haven't forgotten the local council either. I have been randomly flytipping my jazz periodicals and stained matresses all over the parish. This keeps the environmental team busy and I have been pulling a diamond tipped plough behind my car to dig up the roads.

 

Finally, I have on order a new ?8000 settee, a gym membership to every club in a 40 mile radius, a subscription to every porn channel I can find and a donation to every donkey, whale & meerkat charity on earth. All on direct debit from an empty bank account with an overdraft limit of ?40,000.

 

My conscience is clear. Hang your heads in shame all ye who panic.

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My Credit Card company wrote to me today to tell me that as a 'valued customer' they thought they would write to me to tell me they are putting the APR up on my card to 20.8% for purchases and 25.4% for cash advances from March 09

 

It's currently less than 10%

 

In addition, on their home page they are advertising a 8.5% rate for new customers fixed until August 2012

 

Now, apparantly the reason for this is because the cost of borrowing has gone up

 

I'm glad I'm a valued customer and not one that they dislike.

 

Needless to say, I've had the card up my arse since reading the letter, I shall be posting it back to them tomorrow once it's sufficiently soiled

 

Oh and I thought I'd give them a ring to b?llock them first but it would appear their call centre is now in the Phillipines so phone went down after 5 seconds

 

Hope they go bust now the c?nthouses

 

 

I had a very similar letter from my credit card company too.

 

Twatstains.

 

Interest rates are at their lowest for years, yet they're doubling the APR to Crazy George proportions.

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http://www.theboltonnews.co.uk/news/406042...administration/

 

EMPIRE Direct, which has two stores in Bolton, has gone into administration.

 

The electrical retailer announced the closure of all 14 of its stores. The Bolton shops are in Blackburn Road, Astley Bridge, and Trinity Retail Park in the town centre.

 

Not good, sympathies to anyone who works there.

 

Keep up man - reported at 8Pm the day before on this very thread

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I had a very similar letter from my credit card company too.

 

Twatstains.

 

Interest rates are at their lowest for years, yet they're doubling the APR to Crazy George proportions.

 

Interest rates have very little correlation with the cost of funding in times of uncertainty. The percentage difference between interest rates and LIBOR (the cost of borrowing between banks) is about as big as it's ever been.

 

It's misleading to think that low base rate leads to low interest rates from banks.

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Interest rates have very little correlation with the cost of funding in times of uncertainty. The percentage difference between interest rates and LIBOR (the cost of borrowing between banks) is about as big as it's ever been.

 

It's misleading to think that low base rate leads to low interest rates from banks.

 

You have been watching too much BBC - 3 month LIBOR this morning is 2.23% which is only 0.73% above BBR. This is the lowest cost of bank funding since September last year.

The main reason personal finance is getting higher is that Banks are skint and have limited liquid money to lend. Good old supply and demand.

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You have been watching too much BBC - 3 month LIBOR this morning is 2.23% which is only 0.73% above BBR. This is the lowest cost of bank funding since September last year.

The main reason personal finance is getting higher is that Banks are skint and have limited liquid money to lend. Good old supply and demand.

 

Hmm, that's only part of the story though. It depends what the banks are using the funding for.

 

As an example, let's look at personal loans:

 

Bank lends ?100m a month to it's customers at an average of ?10,000 each over a 5 year term. The actual duration of these differs due to early settlements, roughly split out as so:

 

1 year 5%

2 years 35%

3 years 25%

4 years 20%

5 years 15%

 

Therefore the bank needs to fund it's outlay proportionately across the above durations - very little of which is short-term. Given the unprecedented uncertaintly in the markets at the minute the longer term LIBOR rates are considerably higher than base rate (and short-term LIBOR rates).

 

Banks are not skint. They are simply unwilling to lend to each other for fear of the impairments that may be on the books of the borrowing bank.

 

Similarly they are unwilling to lend to customers for fear of them going bad.

 

A vicious circle no doubt, but simply calling for banks to offer cheaper credit is not as simplistic as it sounds.

 

I'm in no way defending the banks as it was their carefree attitude to risk profiling that caused the majority of this mess.

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if companies want to survive the credit crunch they need to get their heads out of their arses.

 

 

i got my car insurance renewal notice through this week, it has doubled ! when i have looked into it, their rates have increase which i can understand, but they are also wanting to charge for paying monthly, this will add ?132 onto the premium this is an APR of 32%.

 

also got an offer from some shop to buy things using their credit APR 29%.

 

 

How the fuck do they think they can charge that much interest ? for the shop it was to buy a laptop, something i needed actually did not need the credit but if they are ripping people off for credit assume they will do the same for other things so have not bought of them.

 

quote was ?880 with old lot.

 

churchill ?350.

 

what shall i do???

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Guest bwfc devon
quote was ?880 with old lot.

 

churchill ?350.

 

what shall i do???

Save ?530 go with Churchill i think or look at some more Direct line maybe.

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Guest bwfc devon
Do you charge for priceless financial advice like this?

Not to you (it was a silly joke) not spoke to you for a while.

Edited by bwfc devon
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