DIY retailer Homebase sold by Wesfarmers for just £1

[durhamborn]

Dunelm finding out what happens when costs rise.You cant pass them on.

https://uk.reuters.com/article/uk-dunelm-group-outlook/shares-plunge-in-uk-homewares-retailer-dunelm-after-profit-warning-idUKKCN1IQ1HF

 

[thewig]

3 hours ago, spyguy said:

Should see the inflation of chinese labour ....

Tere's a lot of idiots who outsourced to China10-15 years ago who are now finding that wages are still increasing at 15-20%

That was fine when Chinese Labour was 30% of the UK, ~20 years ago.

Now its more expensive.

Shame the people who made the outsource decision are no longer employed to pick up the sh1t.

 

 

could this also be why dragons den has ended? (I keep seeing those clickbait pop up ads shrieking "you won't believe the SHOCKING reason why dragons den was cancelled" but never click)

 

last time I watched that garbage show probably ten years ago, every time they invested it was someone who has gone to china, got something made for x and can sell to retail at x+200% or whatever, cue the dragons fawning over their entrepreneurial spirit of exploiting third world wage arbitrage.

 

for that reason, I'm out.

 

 

[Cosmic Apple]

2 hours ago, Funn3r said:

I really don't like Screwfix. Recently I needed 2.5 metres of cable and went there and got told they had it in stock but I had to buy a pre-packed 50 metres. It was amazingly cheap for 50m but even so I would have been left with most of it which I haven't got any space to keep but neither would my inner thrift-angel let me chuck it in the bin. Back in the day you could go into Homebase and cut yourself a few metres off a cable reel on a spindle. Bet you anything it's the same with screws in packs of 200 or something.

Wilcos.

[Pitchfork]

49 minutes ago, thewig said:

could this also be why dragons den has ended? (I keep seeing those clickbait pop up ads shrieking "you won't believe the SHOCKING reason why dragons den was cancelled" but never click)

 

last time I watched that garbage show probably ten years ago, every time they invested it was someone who has gone to china, got something made for x and can sell to retail at x+200% or whatever, cue the dragons fawning over their entrepreneurial spirit of exploiting third world wage arbitrage.

 

for that reason, I'm out.

 

 

 

Most entrepreneurs will exploit workers given the chance. Uk workers just get exploited less than Chinese workers. Any business where the directors drive lambos and the workers need tax credit hand outs from the state is exploiting its workers.

Agree that many businesses are not entrepreneurial and purely exploitative.

[thewig]

58 minutes ago, Pitchfork said:

 

Most entrepreneurs will exploit workers given the chance. Uk workers just get exploited less than Chinese workers. Any business where the directors drive lambos and the workers need tax credit hand outs from the state is exploiting its workers.

Agree that many businesses are not entrepreneurial and purely exploitative.

Yep those canny dragons - and by extension the vile beeb - love a bit of it!

[cnick]

1 hour ago, thewig said:

could this also be why dragons den has ended? (I keep seeing those clickbait pop up ads shrieking "you won't believe the SHOCKING reason why dragons den was cancelled" but never click)

 

last time I watched that garbage show probably ten years ago, every time they invested it was someone who has gone to china, got something made for x and can sell to retail at x+200% or whatever, cue the dragons fawning over their entrepreneurial spirit of exploiting third world wage arbitrage.

 

for that reason, I'm out.

 

 

Yes.... but what was / is the alternative??????  Make it here, at a loss?? ....would that make them a better entrepreneur?

[cnick]

1 hour ago, Pitchfork said:

 

Most entrepreneurs will exploit workers given the chance. Uk workers just get exploited less than Chinese workers. Any business where the directors drive lambos and the workers need tax credit hand outs from the state is exploiting its workers.

Agree that many businesses are not entrepreneurial and purely exploitative.

'Exploitation' is how it works..... we all do it every time we buy anything. Two things that ARE wrong which, alas,  will never be changed in out  lifetime. 1. ownership of land..... 2. creation of money from fvck all..... both wrong and immoral....oh yes nearly forgot... the threat of violence to enforce both 1 & 2.

with thanks to injin for his insight.

[spyguy]

2 hours ago, thewig said:

could this also be why dragons den has ended? (I keep seeing those clickbait pop up ads shrieking "you won't believe the SHOCKING reason why dragons den was cancelled" but never click)

 

last time I watched that garbage show probably ten years ago, every time they invested it was someone who has gone to china, got something made for x and can sell to retail at x+200% or whatever, cue the dragons fawning over their entrepreneurial spirit of exploiting third world wage arbitrage.

 

for that reason, I'm out.

 

 

Exploitation is probably not the word.

Using the arbitrage between a strong £ and weak Yuan to bring their dubious idea to fruition.

To be frank, thats seems to what Sports Direct business is - strong £, weak <asian whatever>

Boots on the other foot now.

I guess all the Dragon den contestants are working in a Stoke sweatshop, making stuff for a Dragon Deng TVshow in Beijing.

 

 

[crashmonitor]

5 hours ago, Bruce Banner said:

My wife bought something at Homebase a month ago, on the understanding that they would take it back for a full refund if we found it cheaper elsewhere, including online. I found it for 20% less on Amazon so she took it back to Homebase for a refund. Guess what, "we don't price match Amazon" and no amount of arguing would convince them to honour their word. My wife was so annoyed that she accidentally knocked over a display stand on her way out.

Good riddance . It used to be a good company, though.

 

Visit Amazon at your peril, browsed for a backpack which I actually bought from ebay and the crooks signed me up for Amazon music and took 9.99. How the f$$k do they get away with this default stealing. Not the first time money has gone out my bank account and traced back to them.

It's beyond shocking.

Edited May 25, 2018 by crashmonitor

[Funn3r]

2 hours ago, durhamborn said:

Dunelm finding out what happens when costs rise.You cant pass them on.

https://uk.reuters.com/article/uk-dunelm-group-outlook/shares-plunge-in-uk-homewares-retailer-dunelm-after-profit-warning-idUKKCN1IQ1HF

 

Surely not caused just by rising input costs, don't forget the snowy weather, the sunny weather, the royal wedding...

[Pitchfork]

1 hour ago, cnick said:

'Exploitation' is how it works..... we all do it every time we buy anything. Two things that ARE wrong which, alas,  will never be changed in out  lifetime. 1. ownership of land..... 2. creation of money from fvck all..... both wrong and immoral....oh yes nearly forgot... the threat of violence to enforce both 1 & 2.

with thanks to injin for his insight.

Yes, agree - everytime we buy some cheap stuff made abroad we are guilty as well.

Given time it will all level out. In the Uk we are being dragged down, globalisation has changed the world.

[Ash4781]

1 hour ago, Funn3r said:

Surely not caused just by rising input costs, don't forget the snowy weather, the sunny weather, the royal wedding...

Where I am in the U.K. the price of unleaded has really surged. Reports are it could hit 140p a litre in the next few weeks. It’s going to get rough!

[Pitchfork]

11 minutes ago, Ash4781 said:

Where I am in the U.K. the price of unleaded has really surged. Reports are it could hit 140p a litre in the next few weeks. It’s going to get rough!

Seems that Carney would prefer inflation over raising interest rates. Fuel prices are going give inflation a nice nudge upwards, but will be ignored as its only temporary.

[chronyx]

I'm converting mine to run on threatening TV licence letters. Sustainable and economical

[Funn3r]

1 hour ago, Ash4781 said:

Where I am in the U.K. the price of unleaded has really surged. Reports are it could hit 140p a litre in the next few weeks. It’s going to get rough!

I love expensive petrol. Really gets under people's skin and there are usually protests and demos as people finally can be arsed to get off the sofa from in front of the tellyopium. People do too much useless driving anyway some blokes at work spend their life "seeing customers" which I am pretty sure they could cut by at least 50% and skype the remainder.

[Funn3r]

51 minutes ago, chronyx said:

I'm converting mine to run on threatening TV licence letters. Sustainable and economical

That's a nifty idea perhaps a 50/50 mix of said letters and GDPR updates.

[Wayward]

Wesfarmers/ Bunnings were arrogant.  I went to an event where a senior Bunnings guy spoke....they have had nothing but expansion and success until now. Their success made them over confident.

First thing they did was sack all of the Homebase leadership and replaced with their own people.  They seemed to think they didn't have any effective competitors to worry about...well they did and they are called B&Q/ Kingfisher...Europe's largest diy/home improvement retailer. Good riddance to arrogant ****s. Shame for loyal HB staff...many will lose jobs as closures will follow.

[thewig]

This is more about the lack of home improvement since the plague of DEBTjunkies cornered the market in under maintained homes, a real person wouldn’t want to live in one, but plenty good enough for a family of scumbag renters.

[Lurkerbelow]

5 hours ago, Ash4781 said:

Where I am in the U.K. the price of unleaded has really surged. Reports are it could hit 140p a litre in the next few weeks. It’s going to get rough!

There's a good argument to make that rising oil costs popped the bubble last time around.   Will it do the same again this year?   The more of peoples incomes that has to go on basic necessities for which oil is a huge input cost, the less that can be spent on meeting mortgage payments, rents, and on buying cheap imported tat from SE Asia.

[Funn3r]

On 25/05/2018 at 15:28, crashmonitor said:

Visit Amazon at your peril, browsed for a backpack which I actually bought from ebay and the crooks signed me up for Amazon music and took 9.99. How the f$$k do they get away with 

You probably did actually click yes you want to sign up, as they are extremely sneaky with the wording. I like to call myself savvy but even so I signed up for Amazon prime without meaning to. 

First they asked do you want to sign up? No. "Are you sure you don't want to sign up?" Yes. A few clicks later into my order "Are you certain you don't not want to avoid not signing up?" (or some such garbage.) Honest truth and I obviously clicked on wrong thing.

Fortunately I noticed right away and you can cancel but I know someone who was paying something like 70 quid a year without realising. 

Anyway back on topic, my son had a student job at Homebase five years ago and it was obviously badly managed even then. 

[longgone]

My local homebase always has cancelled kitchen orders p

[longgone]

Picked up built in appliances for 50 each and knock them out on eBay for 500 plus  probably 3k profit over a few years.

[mathschoc]

Kaput?

https://www.bbc.co.uk/news/amp/business-45360353

[bushblairandbrown]

On 25/05/2018 at 10:07, Bruce Banner said:

My wife bought something at Homebase a month ago, on the understanding that they would take it back for a full refund if we found it cheaper elsewhere, including online. I found it for 20% less on Amazon so she took it back to Homebase for a refund. Guess what, "we don't price match Amazon" and no amount of arguing would convince them to honour their word. My wife was so annoyed that she accidentally knocked over a display stand on her way out.

Good riddance . It used to be a good company, though.

 

Expecting a shop to price match amazon is absurdly unreasonable. I hope they refused to refund you. 

[Wayward]

CVA  approved...they struggle on..