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NoMoreKickingCans
Posted: 31 October 2023 07:50:09(UTC)
#34

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SafeStyle UPVC windows goes into receivership...

https://www.thetimes.co.uk/artic...883298a1e69123b3c9fcefbc
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SF100 on 01/11/2023(UTC)
Wayne Hurdman
Posted: 31 October 2023 08:41:38(UTC)
#35

Joined: 31/01/2020(UTC)
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NoMoreKickingCans;284417 wrote:
SafeStyle UPVC windows goes into receivership...

https://www.thetimes.co.uk/artic...883298a1e69123b3c9fcefbc


Sadly this has been on the cards for quite a while. I`m surprised they lasted this long. There have been a number of large fabricators go bust over the last few months.
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SF100 on 01/11/2023(UTC)
Tim D
Posted: 31 October 2023 09:53:39(UTC)
#37

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Business failures on track for worst year since 2009
https://www.bbc.co.uk/news/business-67261798
or without the "human interest" guff and with more detail and charts at
https://www.gov.uk/gover...s-july-to-september-2023
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SF100 on 01/11/2023(UTC)
NoMoreKickingCans
Posted: 31 October 2023 10:55:06(UTC)
#36

Joined: 26/02/2012(UTC)
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Quote:
Sadly this has been on the cards for quite a while. I`m surprised they lasted this long. There have been a number of large fabricators go bust over the last few months.

It was only 18 months ago I had a ridiculously high quote for some upvc windows. Everyone flat out busy with orders despite huge price increases from ukraine war shortages of some upvc resin ingredient.

Oh how things change.
On the grapevine I heard London plumbers are now competing heavily for work.
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SF100 on 01/11/2023(UTC)
Thrugelmir
Posted: 31 October 2023 12:55:47(UTC)
#38

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Tim D;284429 wrote:
Business failures on track for worst year since 2009


Shows how fragile some businesses are financially. The higher interest rate era hasn't started to bite yet.
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ANDREW FOSTER on 31/10/2023(UTC)
NoMoreKickingCans
Posted: 31 October 2023 14:13:17(UTC)
#39

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Quote:
Shows how fragile some businesses are financially. The higher interest rate era hasn't started to bite yet.

What do you expect if you shut down chunks of the economy causing businesses to have to incur increased debts just to get through it, then you kill them off by quintupling interest rates on that debt and forcing down the asset prices it is secured against.

One might say the whole lockdown ba**s up was designed to enable large companies and PE to snap up the small competition at bargain prices. After all the rich have to get richer and comfortable big company cartel oligopolies need to be maintained. The rest of us can own nothing, eat insects and be happy (or we can self terminate).

Bloomberg write up...
https://www.bloomberg.com/news/a...distress?srnd=premium-uk

The traditional nonsense of lenders that either can’t wait to lend people money, but then a year later won’t lend a £1 secured against the deeds of Buckingham Palace.
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SF100
Posted: 01 November 2023 19:27:47(UTC)
#40

Joined: 08/02/2020(UTC)
Posts: 2,259
WeWork
(to be forever known as.....WeDontWork?)

https://www.reuters.com/...ptcy-filing-2023-11-01/

"...... remains a black spot for SoftBank that sunk billions in efforts to prop up the startup that has never turned a profit....."
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SF100
Posted: 01 November 2023 19:31:01(UTC)
#33

Joined: 08/02/2020(UTC)
Posts: 2,259
NoMoreKickingCans;282317 wrote:
https://www.bloomberg.com/news/a...ond-bets?srnd=premium-uk

Warrington Council moving from bond hedge fund into Money Market.


Councils

This made the 6 o clock news this evening

https://www.bbc.co.uk/news/uk-politics-67228883
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SF100
Posted: 29 November 2023 15:57:00(UTC)
#41

Joined: 08/02/2020(UTC)
Posts: 2,259
Nottingham City Council

Where is Robin Hood when you need him....

https://www.theguardian....eclaring-itself-bankrupt
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Tim D on 29/11/2023(UTC)
Tim D
Posted: 29 November 2023 21:20:09(UTC)
#42

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SF100;287832 wrote:
Nottingham City Council

Where is Robin Hood when you need him....

https://www.theguardian....eclaring-itself-bankrupt


Heh... I note at the end of that article it says
Quote:
The local authority has been beset by financial difficulties for years. The collapse of a council-run Robin Hood energy scheme in 2020 led to the loss of millions and a government-appointed board being brought in to monitor the council.


And that led me to https://en.wikipedia.org/wiki/Robin_Hood_Energy which says
Quote:
Its role was to provide low-cost energy to households and address fuel poverty


So that literally was a case of Robin Hood stealing the council's money and giving it to the poor.
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SF100 on 12/12/2023(UTC)
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