Bobajobbob Posted July 11, 2008 Share Posted July 11, 2008 Just another illustration of the crunch in action a certain independent sandwich chain has been hit by the contraction of credit. Expanding over the past few years with money freely lent they are now struggling to renew finance as the previously freely available funds are no longer there. Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted July 11, 2008 Share Posted July 11, 2008 Just another illustration of the crunch in action a certain independent sandwich chain has been hit by the contraction of credit. Expanding over the past few years with money freely lent they are now struggling to renew finance as the previously freely available funds are no longer there. They might well be hit a bit more when people realise that buying a £2.50 sandwich every working day = £50 a month = around £500 a year, and start making their sarnies at home. Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 11, 2008 Share Posted July 11, 2008 interesting. in the last recession, pret a manger established themselvces and grew from nothing, they were the success story (or one of them) of a depressed era. Reason being, or so it has been suggested, that people stopped eating out at cafes etc and started working thru lunch having a cheaper sandwich during a recession. Quote Link to comment Share on other sites More sharing options...
DrGUID Posted July 11, 2008 Share Posted July 11, 2008 This is the beginnings of Credit Crunch Part II. It wasn't just consumers who borrowed heavily. Quote Link to comment Share on other sites More sharing options...
ognum Posted July 11, 2008 Share Posted July 11, 2008 They might well be hit a bit more when people realise that buying a £2.50 sandwich every working day = £50 a month = around £500 a year, and start making their sarnies at home. Interesting that you estimated the cost at £500 a year. Having lived in the US recently I read an article that suggested that if you 'brown bag' your lunch you will save $2000 a year and a sandwich and cup of coffee is half the price there! I think its the cup of coffee for £2 a cup where the profit is made or am I wrong? Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted July 11, 2008 Share Posted July 11, 2008 Interesting that you estimated the cost at £500 a year. Having lived in the US recently I read an article that suggested that if you 'brown bag' your lunch you will save $2000 a year and a sandwich and cup of coffee is half the price there!I think its the cup of coffee for £2 a cup where the profit is made or am I wrong? I was pricing only for one sandwich. By the time you add on the statutory latte (maybe x 2), statutory bottle of water, packet of crisps, Mars Bar, apple, or whatever, I guess a lot of people are easily spending £15 a day easily. Once had to spell all this out to a daughter wondering why she couldn't save anything to go travelling. Being flat broke in Oz sorted her out, though. Quote Link to comment Share on other sites More sharing options...
Telometer Posted July 11, 2008 Share Posted July 11, 2008 I was pricing only for one sandwich. By the time you add on the statutory latte (maybe x 2), statutory bottle of water, packet of crisps, Mars Bar, apple, or whatever, I guess a lot of people are easily spending £15 a day easily. Once had to spell all this out to a daughter wondering why she couldn't save anything to go travelling. Being flat broke in Oz sorted her out, though. I know, I cannot help but be amazed at how much people spend on this sort of rubbish. Friend who earns under 20k, lives in country, has 4x4 (needs it, but it drinks), and £2.50 for a fruit salad; £2.50 for a sandwich; £1.50 for a coffee. And £1.50 for a coffee, and 75p for a treat for the dog... that's 15% of her salary gone on rubbish. Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted July 11, 2008 Share Posted July 11, 2008 I know, I cannot help but be amazed at how much people spend on this sort of rubbish. Friend who earns under 20k, lives in country, has 4x4 (needs it, but it drinks), and £2.50 for a fruit salad; £2.50 for a sandwich; £1.50 for a coffee. And £1.50 for a coffee, and 75p for a treat for the dog... that's 15% of her salary gone on rubbish. Tell her to buy a packet of Asda's cocktail sausages - umpteen treats for about £1.20. We always take a packet to friends with 2 mutts - we're extremely popular with the mutts, I can tell you. Quote Link to comment Share on other sites More sharing options...
Nomadd Posted July 11, 2008 Share Posted July 11, 2008 They might well be hit a bit more when people realise that buying a £2.50 sandwich every working day = £50 a month = around £500 a year, and start making their sarnies at home. Started a new contract a few weeks ago. My normal lunch is two sarnies and a fruit juice. Day one on job, got lunch, was raped for £6.50! Been making my own sarnies ever since, and just took a bottle of orange cordial to the office as the water to add to it is free and it'll last me weeks. Nomadd Quote Link to comment Share on other sites More sharing options...
blankster Posted July 12, 2008 Share Posted July 12, 2008 Some say that a recession is good time to start a business. But that probably means at the bottom of a recession, not when it's just starting. Quote Link to comment Share on other sites More sharing options...
Prof Posted July 12, 2008 Share Posted July 12, 2008 I know, I cannot help but be amazed at how much people spend on this sort of rubbish. Friend who earns under 20k, lives in country, has 4x4 (needs it, but it drinks), and £2.50 for a fruit salad; £2.50 for a sandwich; £1.50 for a coffee. And £1.50 for a coffee, and 75p for a treat for the dog... that's 15% of her salary gone on rubbish. I assume she live with parents, or has paid off her mortgage. Spending that kind of £££ on grub + coffee and running a 4x4 won`t leave much to pay the bills. During "the boom" I was reasonably careful. Now things are getting more expensive, and work is getting a tad quiet, I`m finding it easy to cut back a bit. I paid off a fair bit of the mortgage when things were good, I saved a fair bit too. I`m enjoying being a bit more frugal, it`s strangely entertaining ! Quote Link to comment Share on other sites More sharing options...
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