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TheCountOfNowhere

What will collapse next....

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Are we still doing predictions? I reckon Body Shop has to go at some stage. Maybe just go online, doesn’t need physical shops. Since they launched yonks ago the market has changed and “ethical” consumption is a lot more competitive. 

Then again maybe the govt will bung £600mil to L’oreal like they did Chanel. 

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20 minutes ago, PeanutButter said:

Are we still doing predictions?

Surely WHSmith can't survive now.

They only really lasted till now by price gouging at train stations and airports, neither of which have seen any footfall for the last 3 months and unlikely to see any great uptick moving forward. 

Obviously there's no online option for them. 

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On 23/06/2020 at 11:21, Warwick-Watcher said:

Intu on the brink according to the FT behind its paywall - Intu oblivion? 

It could mean the Trafford Centre and Lakeside closing - quelle domage!

No chance. Shareholders in Intu will be wiped out and those who provided the debt to Intu will take haircuts.

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The wife has just told me Long Tall Sally has announced it is closing.

CEO statement says the Shareholders have decided it has no future post Coronavirus and aren't prepared to put any more funding in.  

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8 minutes ago, Confusion of VIs said:

The wife has just told me Long Tall Sally has announced it is closing.

CEO statement says the Shareholders have decided it has no future post Coronavirus and aren't prepared to put any more funding in.  

Covid has killed the fatties.

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1 hour ago, Confusion of VIs said:

The wife has just told me Long Tall Sally has announced it is closing.

CEO statement says the Shareholders have decided it has no future post Coronavirus and aren't prepared to put any more funding in.  

 

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Not so much a prediction, but Wirecard has chequed out:

https://www.bbc.co.uk/news/business-53176003

Turns out they cunningly 'misplaced' 1.9 billion euro down the back of the sofa, and after the FT ran stories on how dodgy they were even the auditors EY noticed:

Quote

 

It comes after the German firm last week disclosed a €1.9bn (£1.7bn) hole in its accounts.

Former boss Markus Braun has since been arrested and accused of inflating Wirecard's finances to make them appear healthier to investors and customers.

The firm's creditors stand to lose billions of euros from the scandal.

The controversy erupted last week when auditors EY refused to sign off on firm's company's accounts, having been unable to locate the missing €1.9bn.

The Munich based firm, which employs almost 6,000 staff in 26 countries, initially claimed the money was held in accounts at two banks in the Philippines.

But on Monday Wirecard said the money simply may not exist.

 

Cracking statement from the company on this by the way. 'Prevailing likelihood':

https://www.theguardian.com/business/2020/jun/25/wirecard-files-for-insolvency-amid-german-accounting-scandal

https://www.investegate.co.uk/wirecard-ag/eqs/statement-of-the-management-board-about-the-current-situation-of-the-company/20200622014858EHXEL/

Quote

"The Management Board of Wirecard assesses on the basis of further examination that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist,"

 

Edited by Quicken

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On 25/06/2020 at 16:57, sammersmith said:

Surely WHSmith can't survive now.

They only really lasted till now by price gouging at train stations and airports, neither of which have seen any footfall for the last 3 months and unlikely to see any great uptick moving forward. 

Obviously there's no online option for them. 

Hard to tell really. I'm seeing adverts for Ryanair flights now. It may be people won't want to miss their Med holiday and so will risk passing through airports again.

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Nothing better than good old fashioned 'cooking the books' at Lookers car dealerships. Nothing to see here according to auditors Deloittes...........https://www.bbc.co.uk/news/business-53217484

Accounting firms and Auditors; Can they be trusted along with ratings agencies?  A whole new topic in itself!

Surely Lookers are just a victim of the current climate? But wait, we have Wirecard this week and remember Enron, Olympus, Lehmanns, Tesco's, Serco, Thomas cook, Ted Baker, Eddie Stobart, Patisserie Valerie....trust me, the list is endless of false accounting, book cooking, lazy auditing and back handers, all in a vain attempt to prop up false impressions of a fake economy.

The tide is going out far quicker than these tw*ts ever thought it could.  The emperor has no clothes...the Zombies are coming.  There must be lots more out there.

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3 hours ago, MinistryMan said:

Nothing better than good old fashioned 'cooking the books' at Lookers car dealerships. Nothing to see here according to auditors Deloittes...........https://www.bbc.co.uk/news/business-53217484

Accounting firms and Auditors; Can they be trusted along with ratings agencies?  A whole new topic in itself!

Surely Lookers are just a victim of the current climate? But wait, we have Wirecard this week and remember Enron, Olympus, Lehmanns, Tesco's, Serco, Thomas cook, Ted Baker, Eddie Stobart, Patisserie Valerie....trust me, the list is endless of false accounting, book cooking, lazy auditing and back handers, all in a vain attempt to prop up false impressions of a fake economy.

The tide is going out far quicker than these tw*ts ever thought it could.  The emperor has no clothes...the Zombies are coming.  There must be lots more out there.

The reporting style of this article is pretty low-key for what is major multi-million pound FRAUD.  So the original auditors just get to resign do they?  That's it?  It all stinks so bad and as you say there must be so much of this out there being covered up until it can't be covered up any longer.  It's 2008 all over again, only perhaps on an even more epic and widespread scale.  Nothing is real any more.

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6 hours ago, winkie said:

Byron?....posh burgers.;)

I never quite get why people are prepared to pay over a tenner for a burger - to me that's more in the steak price. But there are obviously people who do. Problem is there are several different chains all going for the same market. Five guys may weather this, but many like Byron won't.

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According to BBC Trump has even weighed in on the rumoured sale to China by Hitachi of the semi refurbished Wylfa nuclear plant on Anglesey, saying “don’t sell to China”. 
Hitachi have said they have no plans to sell - they also have no plans to finish building it! 
Unfortunately Welsh Gov’s answer phone kicked in when Donald rang offering help, saying “Welsh Gov can’t come to the phone at the moment. We are currently busy preventing Mrs Jones sewing shop in Bridgend from falling in to admin at the loss of 2 staff and a hungry cat”. 

 

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This would be one of those companies offering 0% interest credit for 3 years on 'essential items' like a £2K L shaped sofa, that people couldn't live without. Never saw that coming 🙄

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14 minutes ago, Switch625 said:

This would be one of those companies offering 0% interest credit for 3 years on 'essential items' like a £2K L shaped sofa, that people couldn't live without. Never saw that coming 🙄

Bet you been 'seeing it coming' every day for the past 54 years.

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20 hours ago, Trampa501 said:

I never quite get why people are prepared to pay over a tenner for a burger - to me that's more in the steak price. But there are obviously people who do. Problem is there are several different chains all going for the same market. Five guys may weather this, but many like Byron won't.

Not sure 5 guys will something was lost in translation bringing it over - hyped the price surprise surprise and put them in Bryon territory. In the states they can be just one up from a Mcdonalds - not always in prime locations and reasonably priced.

The one in Covent Garden is right on the corner of Long Acre/St Martins Lane stupidly expensive location - you have to sell a lot of burgers 

However there appears a demand...

https://www.gizmodo.co.uk/2020/05/five-guys-sheffield-pandemonium/

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  • 399 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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