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Realistbear

Another One Bites The Dust--and Another One's Gone

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http://www.creditman.biz/uk/members/news-v...chksrc=NNow4251

Feb 15 2006
Ian Green and Edward Klempka of PricewaterhouseCoopers LLP were appointed joint administrators of Stag Furniture (UK) Limited on 14 February 2006.
Stag Furniture, based in Sunderland, with 556 employees, is the UK's largest manufacturer and supplier of assembled cabinet furniture. The company's main customers are mail order companies. They also sell to independent and multiple retail channels. The business has suffered significant losses
as a result of the severe retail downturn in the UK over the last 12 months

HPC 2006.

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http://www.creditman.biz/uk/members/news-v...chksrc=NNow4251

Feb 15 2006
Ian Green and Edward Klempka of PricewaterhouseCoopers LLP were appointed joint administrators of Stag Furniture (UK) Limited on 14 February 2006.
Stag Furniture, based in Sunderland, with 556 employees, is the UK's largest manufacturer and supplier of assembled cabinet furniture. The company's main customers are mail order companies. They also sell to independent and multiple retail channels. The business has suffered significant losses
as a result of the severe retail downturn in the UK over the last 12 months

HPC 2006.

Less competition. The other will be able to put their price up soon and pass on costs. Up, up and away with CPI.

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If people can;t afford to move house they are not going to bother buying loads of furtniture, fittings, appliances and all the rest of the tat that goes with a house move.

Like I have said on many occasions HPI will ultimately DESTROY the consumption based economy, not prop it up.

I doubt if most of that Stag furniture would even fit in some of the matchboxes paradeing as housing that is being offered to FTB''s.

Edited by OnlyMe

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I doubt if most of that Stag furniture would even fit in some of the matchboxes paradeing as housing that is being offered to FTB''s.

O.M. Sometimes, you just crack me up. Are you this funny in real life? :lol:

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What a surprise. Investors and BTLers don't spend money on household goods. You can't run a comsumption-based economy in a society of renters and slumlords.

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What a surprise. Investors and BTLers don't spend money on household goods. You can't run a comsumption-based economy in a society of renters and slumlords.

Although I hear Global Magnolia Paint Incorporated (FTSE: GMPI) is rocketing. ;)

frugalista

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What a surprise. Investors and BTLers don't spend money on household goods. You can't run a comsumption-based economy in a society of renters and slumlords.

Exactly.

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Stag

Courts

Furniture Land

Allders

Durham Pine

Ducal

etc etc

I'm guessing the furniture industry is going through a consolidation phase with the survival of the fittest ..... would it be worth investing in the ones that remain as they will have the lions share of the market ..... or is the entire sector just waiting to go pop ??

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Stag

Courts

Furniture Land

Allders

Durham Pine

Ducal

etc etc

I'm guessing the furniture industry is going through a consolidation phase with the survival of the fittest ..... would it be worth investing in the ones that remain as they will have the lions share of the market ..... or is the entire sector just waiting to go pop ??

MFI next ?

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Most the people we know that have bought in during the boom have furnished their houses student-style - bit of hand-me-down, Ikea/argos flaypacks, second hand, if it looks crappy-put-a-throw-over-it.

Add to this the moderately well-paid people living in grotty shared slums who simply don't spend money on anything other than small portable electronics.

I always said the consumer orgy of MEWers would be diluted by mortgage-ravaged FTBs or people who can't see the point of putting flashy furniture in their rented hovels.

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Most the people we know that have bought in during the boom have furnished their houses student-style - bit of hand-me-down, Ikea/argos flaypacks, second hand, if it looks crappy-put-a-throw-over-it.

Add to this the moderately well-paid people living in grotty shared slums who simply don't spend money on anything other than small portable electronics.

I always said the consumer orgy of MEWers would be diluted by mortgage-ravaged FTBs or people who can't see the point of putting flashy furniture in their rented hovels.

Everyone I know who has bought in the last few years has spent weeks looking for the best mortgage, and then run up a huge credit card bill doing alterations and buying furniture etc. I can't think of any of my friends who have spent less than £10k after moving in, most of which was on credit.

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Well, I laugh my head off at the thought of the directors of this company having ever thought that they should manufacture furniture in this country now.

Were they not aware of the new ways?

Either they should have moved production to Eastern Europe or set up a furniture manufacturing consultancy firm to sell their expertise to the World.

It's now a "Knowledge Economy" you know.

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The Sofa Company (Klusener) nearly went last year. Someone bailed them out and their furntiure is good quality.

It's "Klaussner". They went into administration if I recall. :D

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I doubt if most of that Stag furniture would even fit in some of the matchboxes paradeing as housing that is being offered to FTB''s.

That's a really good point. We can discard many of the houses that EAs send us purely on the grounds that none of the bedrooms would be big enough for our kingsize bed. Couldn't possibly get rid of the bed and replace it with a smaller one - it's far too comfortable :unsure::)

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MFI next ?

Yes, I think so.

When MFI goes it will shock quite a lot of the masses. Not because huge amounts shopped there, but because of brand recognition. Bit like when Queensway Carpets went under in 1990.

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Wonder how Ikea are doing ??

Trading very well cos everyone else is going bust and people just wanna buy cheap crap for their BTL's ??

or

Trading very badly cos everybody has realised all they sell is cheap crap and the company has over extended themselves with all their world wide expansion over the boom years ??

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Guest Bart of Darkness

C'mon guys, no furniture related puns?

Looks like the bottom has fallen out of the market.

The director may lose his seat on the board.

The chairman will be left without a leg to stand on.

Hopefully the redunancy payments will cushion the blow.

The accounts department have been carpeted.

Executives to lose their top drawer salary.

OK, not outstanding, but it's 3.30 in the morning, at least I'm trying.

(Very!)

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Do you think there's a market for a firm manufacturing foam-rubber furniture?

The selling point would be that you would always be able to get it into the right room, no matter how modern (and tiny) your new house was.

Last weekend I helped a neighbour move a chinese cabinet into an upstairs room of his Victorian terrace. At times I thought we were attempting something topologically impossible, but creative moves in 3D (pressing it to the roof of the stairwell, then rolling sideways upside down across the banister rail, then flipping it over on the bed) seems to have shifted it through hyperspace and into the right place.

Still don't see how we did it.

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Would anyone really miss MFI if it went under?

Didn't think so.

I doubt it too. I thought MFI stood for Made For Idiots.

It's a shame about Stag. I don't think it's just related to the size of newer properties although I'm sure that does factor in it. I think it's because we're living in a throw away society that constantly likes change and updating.

My parents used to buy the likes of Stag, G-plan and Old Charm furniture. It's all beautifully made but also made to last a lifetime. Many years ago when couples set up home they bought stuff to last.

Now people want to keep up with the latest gear and change their stuff every few years so they opt for inexpensive disposable carp.

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Wonder how Ikea are doing ??

Trading very well cos everyone else is going bust and people just wanna buy cheap crap for their BTL's ??

or

Trading very badly cos everybody has realised all they sell is cheap crap and the company has over extended themselves with all their world wide expansion over the boom years ??

We get what we can actually pay for (Warren Buffett style). That is why high end stuff is vanishing to be replaced with cheap Chinese goods. Welcome to the world of Wal-Mart and Ikea. Don't forget, house prices are a matter of opinion whereas debt is real! :lol:

HPC 2006.

Edited by Realistbear

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C'mon guys, no furniture related puns?

Looks like the bottom has fallen out of the market.

The director may lose his seat on the board.

The chairman will be left without a leg to stand on.

Hopefully the redunancy payments will cushion the blow.

The accounts department have been carpeted.

Executives to lose their top drawer salary.

OK, not outstanding, but it's 3.30 in the morning, at least I'm trying.

(Very!)

Sofa so good :o

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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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