globaldiver Posted November 24, 2015 Posted November 24, 2015 How does that happen in these pretty good times? http://www.insidermedia.com/insider/northwest/jobs-lost-as-construction-business-ceases-trading?utm_source=northwest_newsletter&utm_campaign=northwest_news_tracker&utm_medium=top_story_article Quote
Sweep Posted November 24, 2015 Posted November 24, 2015 Thomas Barnes & Sons posted pre-tax profits of £25,098 on a turnover of £14.3m in the 2013 calendar year That's really shit As for us being in pretty good times, I'm not so sure. One of my customers has just gone down to a 4 day week, and we've had 3 or 4 go bust in the last couple of months. Quote
Gonk Posted November 24, 2015 Posted November 24, 2015 From our previous dealings with them, even in the boom times pre credit crunch, they were absolute uber cunts for squeezing your money owed out of. We eventually fucked them off. Quote
tomski Posted November 24, 2015 Posted November 24, 2015 (edited) In my line of work many businesses I'm working with are going to the wall, worryingly they normally wait till Jan. I wouldn't call this pretty good times yet. Edited November 24, 2015 by tomski Quote
maaarsh Posted November 24, 2015 Posted November 24, 2015 Turnover = vanity profit = sanity Plenty of profitable companies go under. Cash is what stops that happening. Quote
Sweep Posted November 24, 2015 Posted November 24, 2015 Plenty of profitable companies go under. Cash is what stops that happening. Indeed, cash flow can be a real killer. We've suffered ourselves at work due to cash flow issues Quote
mjw1967 Posted November 24, 2015 Posted November 24, 2015 Nobody need shed tears for this lot going. Was always going to happen once the founder passed away earlier in the year. My father worked for them (a bit of a mercenary as he needed it at the time) and told me to stay well away. But we (well the groundwork company I'm a director of) ended up doing a bit for them on our terms and it worked for a while we made a fair bit of brass - cos I think they'd used up the trust of all similar subbies (or put them out of business perhaps) They've ended up taking us for a few grand of retention money - but fooking good riddance and their guys will go working elsewhere and more than likely pass more work on to us in the future. Quote
Smiffs Posted November 24, 2015 Posted November 24, 2015 Took a supplier of ours for a 5 figure sum, taken many subbies down over the years. We had opportunities in the past but its a small world and we swerved it. Funnily enough we interviewed one of their key men today. Did FCMU stadium, had a few bad jobs run sour, and were thrown off Blackburn Bus Station in the summer. Cash is King. Quote
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