OnlyMe Posted August 8, 2005 Share Posted August 8, 2005 Transactions, tracnsactions, transactions. Without them them the housing market and the associated economy seems to be knackered. How dumb will the BOE's attempt to prop prices look in a few month's time? In fact how dumb will their policy of encouraging a boom which effectively froze out a whole section of the economy look? http://www.creditman.biz/uk/members/news-v...chksrc=NNow4251 Aug 8 2005 ...... Klaussner is not the only company in this sector to have run into difficulties. Ten percent of companies within the furniture manufacturing sector are in liquidation. Matthew Debbage, Head of Product and Marketing, ICC Credit said, ‘the decline in consumer spending is clearly having a negative effect on furniture sales. I don’t wish to be the harbinger of doom, but I expect to see further business failures in 2005.’ Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted August 9, 2005 Share Posted August 9, 2005 Furniture is certainly one of the easiest expenses to cut back on. Make do with what you've got for another year (or two) rather than buy right now. Unless your sofa, bed or cupboard is totally k******ed, you can leave it for now and spend your money elsewhere. 10% of companies actually being in the liquidation stage is not encouraging for the rest. Quote Link to comment Share on other sites More sharing options...
Marina Posted August 9, 2005 Share Posted August 9, 2005 Still, look on the bright side. Maybe those daft DFS - we're having a sale - adverts will come off the telly. They are a good example of the general stupidity of the British public. Does anyone think they are genuine sales? Anyone? Answer: presumably 'Yes' because I keep reading articles in the business press about how well they are doing. The mind boggles. Quote Link to comment Share on other sites More sharing options...
justanewbie Posted August 9, 2005 Share Posted August 9, 2005 Since the furniture industry is based mostly on credit offers - pay nothing for a year - perhaps it is a sign that, along with credit card spending, the public is reigning in its hunger for borrowed money. Quote Link to comment Share on other sites More sharing options...
FTBagain Posted August 9, 2005 Share Posted August 9, 2005 Since the furniture industry is based mostly on credit offers Good point. This may well increase the decline of the industry because of poor crash flow! All those borrowers defaulting on their and the industry will not be able to meet its own debts. Debt! It all comes back to Debt!! Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted August 9, 2005 Share Posted August 9, 2005 DURR !! Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted August 9, 2005 Share Posted August 9, 2005 Still, look on the bright side. Maybe those daft DFS - we're having a sale - adverts will come off the telly. They're a bit like the old Allied Carpets "sales". ALWAYS on. Quote Link to comment Share on other sites More sharing options...
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