Go Back   Forums @ The Digital Fix > Shopping and Money Forums > Suppliers and Shopping Forum

Reply
 
Thread Tools Display Modes
Old 27-03-2020, 22:31   #1681
Boink!
Quite cross right now
 
Boink!'s Avatar
 
Join Date: Mar 2001
Location: Part of Europe
Posts: 23,779
Thanks: 1,472
Thanked 3,716 Times in 1,249 Posts
Quote:
Originally Posted by jockosjungle View Post
Just an excuse I reckon, just to close non profitable restaurants, even before all this
There's going to be a lot of that with all sorts of businesses closing.
Boink! is offline   Reply With Quote
Old 03-04-2020, 15:31   #1682
dbilsborough
Having a mid-life crisis
 
dbilsborough's Avatar
 
Join Date: Aug 2000
Location: Blackpool
Posts: 3,806
Thanks: 779
Thanked 1,042 Times in 339 Posts
https://www.bbc.co.uk/news/business-52156457

Debenhams set to appoint administrators

another one...
dbilsborough is offline   Reply With Quote
Old 03-04-2020, 16:11   #1683
jockosjungle
formerly rbullivant
 
Join Date: Feb 2001
Location: Falkland Islands
Posts: 23,313
Thanks: 287
Thanked 1,254 Times in 887 Posts
Not surprising, Debenhams is always a bad Christmas away from the end.

I wonder if it'll also turn round a few businesses? I can't seem to get an order in at Thorntons, says they've got too many. Can see Just Eat doing alright out of all this.

Might be another nail in the coffin of the high street or more likely the finale of it, can't see how any of the high street can really survive all this, they'll still have rent to pay. Do they have insurance for stuff like this?
jockosjungle is offline   Reply With Quote
Old 03-04-2020, 17:04   #1684
dbilsborough
Having a mid-life crisis
 
dbilsborough's Avatar
 
Join Date: Aug 2000
Location: Blackpool
Posts: 3,806
Thanks: 779
Thanked 1,042 Times in 339 Posts
This is interesting:

New Look delays supplier payments 'indefinitely'

Quote:
New Look says it is suspending payments to suppliers for existing stock "indefinitely", telling them in a letter that the stock can be collected by its owners.
It's one way to save money, but a lot of smaller companies might go bust because of this, and good luck sourcing new stock after the crisis is over....
dbilsborough is offline   Reply With Quote
Old 03-04-2020, 17:56   #1685
jockosjungle
formerly rbullivant
 
Join Date: Feb 2001
Location: Falkland Islands
Posts: 23,313
Thanks: 287
Thanked 1,254 Times in 887 Posts
What can they do about it? Are the courts even running? When this is all over it'll be too late and I'm guessing they'll be banking on everyone being happy New Look survived but not to ask too much about its suppliers.
jockosjungle is offline   Reply With Quote
Old 05-04-2020, 19:12   #1686
dbilsborough
Having a mid-life crisis
 
dbilsborough's Avatar
 
Join Date: Aug 2000
Location: Blackpool
Posts: 3,806
Thanks: 779
Thanked 1,042 Times in 339 Posts
Cath Kidston set to call in administrators

https://www.bbc.co.uk/news/business-52172005
dbilsborough is offline   Reply With Quote
Old 14-04-2020, 21:05   #1687
dbilsborough
Having a mid-life crisis
 
dbilsborough's Avatar
 
Join Date: Aug 2000
Location: Blackpool
Posts: 3,806
Thanks: 779
Thanked 1,042 Times in 339 Posts
Oasis and Warehouse 'to fall into administration'

https://www.bbc.co.uk/news/business-52285231
dbilsborough is offline   Reply With Quote
Old 21-04-2020, 14:43   #1688
alsemail
Bibble....
 
alsemail's Avatar
 
Join Date: Sep 2006
Posts: 7,105
Thanks: 1,194
Thanked 791 Times in 446 Posts
Virgin Australia in administration.

https://www.bbc.co.uk/news/world-australia-52363428

Retail, commercial airlines, and leisure I would imagine are in for a tough time ahead.
alsemail is offline   Reply With Quote
Old 22-04-2020, 16:08   #1689
Kryten
Administrator
 
Kryten's Avatar
 
Join Date: Jun 2001
Location: In my own little world
Posts: 29,837
Thanks: 68
Thanked 218 Times in 190 Posts
Quote:
Originally Posted by alsemail View Post
Virgin Australia in administration.

https://www.bbc.co.uk/news/world-australia-52363428

Retail, commercial airlines, and leisure I would imagine are in for a tough time ahead.
Would not shock me if any other airlines ended up going under. Virgin Atlantic said they need a big cash injection, but only a loan, not a bailout
__________________
Forum Moderator: Mail Me
The Digital Fix | Tweals
Kryten is offline   Reply With Quote
Old 22-04-2020, 16:09   #1690
basegreen
neergesab
 
basegreen's Avatar
 
Join Date: Feb 2001
Location: Too far south..
Posts: 14,007
Thanks: 550
Thanked 734 Times in 531 Posts
500m they said... doesn't seem like a huge amount. They're asset heavy I guess.
basegreen is offline   Reply With Quote
Old 23-04-2020, 05:36   #1691
malcy
Member
 
Join Date: Aug 2002
Location: Stockholm
Posts: 3,644
Thanks: 56
Thanked 130 Times in 88 Posts
Quote:
Originally Posted by Kryten View Post
Would not shock me if any other airlines ended up going under. Virgin Atlantic said they need a big cash injection, but only a loan, not a bailout

Norwegian Air are almost at the point of joining them. Have been for a very long time but now almost there.

They have put their pilot and crew companies in Denmark and Sweden into bankruptcy as well as terminating the outsourced staff contracts in UK, US, Spain etc. So staff will not be paid in April from those places except UK where they get the furlough money for April and then that’s it as they are then unemployed from 20th April.

So the only staff they have left are Norway where the Government covers full pay in furlough and France & Italy where’s it’s virtually impossible to get rid of staff unless a business is insolvent.

They are only left flying around 15 flights a day within Norway from Oslo to the towns along the coast and far North. These are fully funded by the Norwegian Government as it’s the only feasible way to get to some places and the flights are needed for freight, post etc. as well.

Even if Norwegian survive it will almost certainly only be within the Nordics. Their slots at Gatwick are pledged to cover their loans and debt so will almost certainly be seized by the lenders at some point.

It also shows the low cost long haul model isn’t profitable. Just think back to Freddie Laker and Skytrain. They were the largest European airline by numbers flying into NY. However were already pulling out of long haul to US and Asia in Nordics except Norway to allow more capacity to US from UK, France and Spain. You need the obscene profits from First and Business to subsidise the back of the plane but how many business people will resume flying post Covid-19 to keep the likes of BA and Lufthansa going. They have already let their Germanwings low cost subsidiary go bust.
malcy is offline   Reply With Quote
Thanked once by:
driver8 (23-04-2020)
Old 23-04-2020, 05:43   #1692
malcy
Member
 
Join Date: Aug 2002
Location: Stockholm
Posts: 3,644
Thanks: 56
Thanked 130 Times in 88 Posts
Companies in Administration/Bankruptcy Thread

Quote:
Originally Posted by basegreen View Post
500m they said... doesn't seem like a huge amount. They're asset heavy I guess.

Virgin Atlantic’s value is the slots at Heathrow as in the good times these sold in the tens of million per slot. However, value unclear if long haul takes years to recover. Plus they can’t sell these to BA on monopoly grounds.

The planes are leased so will be seized by the lenders if the rent not paid. You could sell leases previously and VA’s new Dreamliners have some value but no one will want the decrepit old B747s they mostly still use at Gatwick. Even their A330s and A340s are now considered old.

Had read that post crisis we may never see B747s flying for passengers with any airline again. They are just too fuel thirsty compared to more modern planes.

Also if long haul demand fails to recover the view is only Emirates will continue flying A380s. Everyone else may mothball theirs.
malcy is offline   Reply With Quote
Old 23-04-2020, 08:15   #1693
douglasb
Suedehead.
 
douglasb's Avatar
 
Join Date: Feb 2001
Location: Exiled in England
Posts: 11,107
Thanks: 148
Thanked 923 Times in 560 Posts
Ironically, the virus may be the end of 'unnecessary' air travel, in a way climate change pressure could never quite mobilise.
douglasb is offline   Reply With Quote
Old 23-04-2020, 09:23   #1694
malcy
Member
 
Join Date: Aug 2002
Location: Stockholm
Posts: 3,644
Thanks: 56
Thanked 130 Times in 88 Posts
Quote:
Originally Posted by douglasb View Post
Ironically, the virus may be the end of 'unnecessary' air travel, in a way climate change pressure could never quite mobilise.

Last year Sweden was the only country in Europe which saw less air travel 2019 v 2018 thanks to Greta.

This year it falls for everyone and will take time to recover particularly long haul.
malcy is offline   Reply With Quote
Old 24-04-2020, 23:17   #1695
jockosjungle
formerly rbullivant
 
Join Date: Feb 2001
Location: Falkland Islands
Posts: 23,313
Thanks: 287
Thanked 1,254 Times in 887 Posts
It'll take ages to recover I think, at what point would anyone think about booking a holiday somewhere? I was tempted to book some flights to Majorca next February, but decided against it on the basis that the flights may well go, but I'd be expected to isolate for a fortnight (not much cop on on a week holiday) or there'd be nowhere to stay much.

Half the airlines will probably survive on the basis that some form of airline is needed and the government will bail them out, LATAM for example in South America.
jockosjungle is offline   Reply With Quote
Old 25-04-2020, 07:27   #1696
malcy
Member
 
Join Date: Aug 2002
Location: Stockholm
Posts: 3,644
Thanks: 56
Thanked 130 Times in 88 Posts
Companies in Administration/Bankruptcy Thread

I can see BA, EasyJet and Ryanair surviving of major ones in the UK.

Think many smaller European ones like Norwegian will fold.
malcy is offline   Reply With Quote
Old 25-04-2020, 08:48   #1697
Arthur Fowler
Trusted User
 
Arthur Fowler's Avatar
 
Join Date: Aug 2002
Location: Bedfordshire
Posts: 11,076
Thanks: 711
Thanked 342 Times in 227 Posts
I'm looking at booking holidays in November and early summer next year with BA. Will do them as package tours so will be pretty well protected.
Arthur Fowler is offline   Reply With Quote
Old 25-04-2020, 13:38   #1698
shand754
Gamertag - Shanduk
 
shand754's Avatar
 
Join Date: Jan 2004
Posts: 1,981
Thanks: 12
Thanked 11 Times in 8 Posts
I'd be very wary about booking any travel or holidays at the moment. If there is a second wave of the virus then I think all travel insurers, holiday companies and airlines have declared Coronavirus a known event now. So this means you won't get your money back and might not even get a travel voucher/free rebooking. Also if there is a second wave in a country you have travelled too I imagine they will lock down very quickly (based on the experience of those countries that controlled the virus better by locking down quicker); so there is a risk of getting stuck.
__________________
My Feedback

Last edited by shand754; 25-04-2020 at 13:40.
shand754 is offline   Reply With Quote
Old 25-04-2020, 13:39   #1699
shand754
Gamertag - Shanduk
 
shand754's Avatar
 
Join Date: Jan 2004
Posts: 1,981
Thanks: 12
Thanked 11 Times in 8 Posts
Quote:
Originally Posted by malcy View Post
I can see BA, EasyJet and Ryanair surviving of major ones in the UK.

Think many smaller European ones like Norwegian will fold.
Ryanair is Irish
__________________
My Feedback
shand754 is offline   Reply With Quote
Old 25-04-2020, 14:18   #1700
Arthur Fowler
Trusted User
 
Arthur Fowler's Avatar
 
Join Date: Aug 2002
Location: Bedfordshire
Posts: 11,076
Thanks: 711
Thanked 342 Times in 227 Posts
From a travel insurance point of view yes. What's the concern about BA giving a refund if the holiday booked with them is cancelled due to Coronavirus? Am I missing something?
Arthur Fowler is offline   Reply With Quote
Reply

Bookmarks

Tags
business, Credit Crunch, Empire Direct, spout, Woolworths, Zavvi

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Understanding bankruptcy Guest 19376 Finance Discussion Forum 39 04-10-2008 21:24

All times are GMT. The time now is 13:32.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Copyright ©2000 - 2018 Poisonous Monkey Ltd. Part of The Digital Fix Network