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Johnny

Another Online Retailer Gone Into Liquidation

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Just found out today that Special Reserve the online supplier of video games and consoles has gone into liquidation. These have been going for years and as far as I know are a reasonably sized company.

Is this the first of many and at christmas time too when you would have thought demand would be high.

http://www.special-reserve.co.uk/

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Just found out today that Special Reserve the online supplier of video games and consoles has gone into liquidation. These have been going for years and as far as I know are a reasonably sized company.

Is this the first of many and at christmas time too when you would have thought demand would be high.

http://www.special-reserve.co.uk/

The bulk box-shifters in large online market such as CD's and Games are doing the same as the likes of the supermarket are doing to smaller retail outlets, expect more.

Was surprised to see Ebuyer cut some jobs a few weeks ago though.

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This is inevitable - people cannot keep spending money like water forever. We are seeing the first signs of people getting worried, reigning in spending, trying to pay off debt. Inevitably, it results in retailers sacking people. The foundations of theh ousing bubble are being eroded.

I heard today of an unemployed man in Swansea who has just got himself a 130K mortgage - how he did that is beyond me but... it points to, IMPO, a sign of desperation amongst lenders and that they arel iterally scraping the bottom of the barrel.

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Blimey

They have a shop here in Bristol somewhere...I guess that's gone too then.

It'll probably reopen as an EA. You know you can always make money from property.

:D

Nomadd

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It'll probably reopen as an EA. You know you can always make money from property.

:D

Nomadd

I'm damned if I can remember where it is now...I'm itching to have a drive past and see...maybe I'll check yell.co.uk

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Two things. They could if they wanted setup shop in Jersey at the expense of the one of the other shops they setup around the UK and used the vat free loophole themselves.

Secondly they started out as a mailorder business in the Maltings in Sawbo, and at one stage was the largest mail order games company in Europe if not the world IIRC, then they became real shops. :)

no the couldn't

1) The Jersey loophole only works for CDs and DVDs where you can get the cost below £18 (i.e. goods that can be sold for less than £21.17 including VAT).

2) Jersey and Guernsey really, really don't want this business. It points out an issue that they didn't want made obvious to the UK government and does not provide the high pay jobs they wish to attract to the islands. Jersey have already stated that they won't allow any more such firms to be set up or move there.

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they were not forced into this. it was a board level decision to close the retail outlet and concentrate on the btl market. therefore doubling their money within 1 year and also receiving government subsidys and tax free profits.

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I don't think this is necessarily anything to do with a downturn in consumer spending, just a company that fell victim to increased competition. Many online retailers are enjoying record sales at the moment.

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  • 335 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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