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Realistbear

Key Property Bellwether Faces Collapse

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http://www.telegraph.co.uk/finance/newsbys...-jobs-lost.html

Allied Carpets' administrators shut 142 stores, 850 jobs lost

More than 850 jobs have been lost at failed retail chain Allied Carpets after administrators were forced to close 142 stores.

Published: 7:52AM BST 14 Aug 2009

BDO Stoy Hayward said it had been unable to sell on the bulk of the flooring firm's branches amid fears over tough trading.

The stores were all closed by yesterday, but the future of around another 120 jobs still hangs in the balance as BDO seeks to offload the remaining 20 outlets remaining in administration.

This tragic news not only adds to the sad loss* of jobs but indicates that the property market is still collapsing.

_____________________

* :(

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Guest KingCharles1st

A BIGGIE :ph34r:

And as a result carpet will become MORE expensive- thereby driving carpet sales down further

Going to be a good Autumn/Winter for those poor employees :ph34r:

Edited by KingCharles1st

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It is a pretty key indicator though. Was chatting with Mrs Sceptacles this morning and she was saying that she thought would be ok 'cause people staying and doing places up rather than move...that's not when most people buy carpets though is it?

Thus Allied pops, the 'retail parks' near us are looking like wastelands.

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http://uk.biz.yahoo.com/14082009/325/john-...tive-sales.html

Friday August 14, 09:00 AM

Reuters

John Lewis ends run of positive sales

LONDON (Reuters) - John Lewis , the employee-owned group viewed as a barometer of retail spending, posted a fall in weekly sales at its department stores, breaking a three-week streak of positive sales.

IMO, the collapse is spreading. Borwn's debt based stimulus has run out.

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I tend to agree, RB.

Oh God, I hope not. It'll be carnage just as people get back from their hols. How sentiment has changed since the spring...it felt like one biggie a day at one stage. I just want a house at a reasonable price, I don't want everyone I know to have nowhere to live!

edit - early-morning mumble-writing.

Edited by Sceptacled Bear

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Overcommitment death spiral.

Government and central banks pushing the high cost base.

The consumer buckling under those costs, no money for upgrades, replacements, other investments such as business, pensions. healthcare - the whole damn lot.

Not even had the tax rises yet (and inflation) to pay for this one-eyed policy.

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Adding a new carpet isn't really going to sell your house in these unceratin times. The new owner can easily fit new carpets. People are going to stick with what they already have. A carpet is probably bough to the credit card too.

I think High street spending might plummet in mid september once the kids are back to school. Looks to me that people are taking the kids to the shops just for something to do. Poundland is packed out with people keeping the kids quiet with a 1 pound toy. Wilkinsons seems to be busy too. Probably people who shop in the likes of these have average spends of 3 to 10 pound.

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A carpet is probably bough to the credit card too.

Seems sensible in the current environment due to protection it offers. Paying cash, and taking it home is a bit difficult for most.

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I needed a carpet a few months ago, and before setting out to my nearby CarpertRight, I checked on the internet to make sure they hadn't gone bust first.

I think that tells you all you need to know about consumer confidence.

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I needed a carpet a few months ago, and before setting out to my nearby CarpertRight, I checked on the internet to make sure they hadn't gone bust first.

I think that tells you all you need to know about consumer confidence.

Do you think people will start thinking twice for items say in the 500 to 1000 price range? There have been articles in the local paper of independent furniture shops going bust with customers losing their deposits, or paid full price and not received their items.

Edited by crashologist

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Do you think people will start thinking twice for items say in the 500 to 1000 price range? There have been articles in the local paper of independent furniture shops going bust with customers losing their deposits, or paid full price and not received their items.

Contrary to what some posters on here imply with their 'sheeple' tag, people aren't stupid. If retailers are weak their customers will notice and treat them more cautiously.

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Contrary to what some posters on here imply with their 'sheeple' tag, people aren't stupid. If retailers are weak their customers will notice and treat them more cautiously.

Agreed , plus carpets are getting hammered by the amount of laminate that gets put in nowadays

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Agreed , plus carpets are getting hammered by the amount of laminate that gets put in nowadays

Sheeple are bloody stupid for even considering buying consumer p1sh worth 500-1k in this present climate.

Fuc*ing mad in the head is what they are. Wasted with insecurity. :rolleyes:

Who gives a toss about a new three piece suite or fitted kitchen??

Cash is king!! :blink::unsure:

(or maybe not after the QE experiment has failed).

Edited by Wait & See

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NOT TOO FUSSED JUST SOLD MY OLD SETTEE ON EBAY FOR OVER 200 QUID... THATS MINT :-)

Nice, you can afford to replace your caps lock key now :lol:

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I cannot get too excited about this, in our local retail parks there are at least 5 carpet companies all selling more or less the same low/mid range products at similar prices. Losing one is probably a good thing, it doesn't really effect customer choice and should help save the others.

(Of course its still crap if you are one of the staff who have lost their jobs)

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