credit crunch-another bites the dust

Local lass · credit crunch-another bites the dust

read in the news yesterday that adams will also be going.
its such a shame that they have let woolworths go ,now with adams who does childrens clothing.no one is safe.

Peter Dolman

no business is secure, unfortunately those companies who have expanded most (and borrowed the money to do so) are most at risk.

there are estimates that as many as 15 nationally recognised companies will fail by the end of February.

if this happens our high streets will take years to recover and will never look the same again. it may mean, I hope, that we will have more independant shops giving more choice. the days of cheap mass produced tat may be over. this will mean higher prices and better quailty!

Top Dog

http://news.bbc.co.uk/1/hi/business/7824133.stm

Now seems land of leather.

Is this the end of the beginning or the beginning of the end?

Chepfer

I've always thought those big furnishing type places were playing on the hope of making big money anyway.

Take DFS (they'll be next) they prey on people with there buy now pay in 4 years stuff and make people think .... well ..... that's alright then, as i dont have to pay for it yet ..... then in 4 years time when the interest is 26% ..... they make there killling.

I think peopleare wisening up to the fact that buying on credit is'nt that great and the money they do have ...... is sacred !

Peter Dolman

any retailer who relies on credit to sell their goods are going to be suspect into's economic climate and yes DFS falls into that bracket. So do many of the furniture retailers, at least those of them at the bottom end of the market.