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Realistbear

Housing Market Crisis Hits Wolseley Builder Supplier

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http://www.telegraph.co.uk/money/main.jhtm...3/cnwols113.xml

Housing market crisis hits Wolseley
By David Litterick and Angela Monaghan
Last Updated: 1:30am BST 13/07/2008
Wolseley will this week outline plans to axe hundreds of jobs amid trading conditions that have become sufficiently dire to trigger a profits warning from the plumbing and building supplies group.
The company, which employs about 14,000 people in Britain, has already laid off thousands of workers as a result of the crisis in the housing market. In May Wolseley said it had embarked on a restructuring that would cost it £50m this quarter with the objective of generating £70m in annual cost savings.
..../
The Sunday Telegraph has learned that an attempt by Taylor Wimpey to revive its refinancing was aborted last week without success.

With the crash slated to be worse than that which followed the Great Depression and not even comparable to the Great Crash of 1989 who is going to pout money into building companies? Its like investing in a holiday company that specialises in Poland in September 1939.

The week ahead may see some of our big names call in the receivers.

Edited by Realistbear

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Receivers may be busy in the weeks ahead. Times reports on some big names that may be picking up the phone as soon as Monday:

http://business.timesonline.co.uk/tol/busi...icle4322444.ece

THE
£2 billion financial conglomerate Dawnay Day
has this weekend become the latest victim of the credit crunch.
Administrators are expected to be appointed at some of its businesses tomorrow following talks with bankers and advisers.
The privately held company controls or has stakes in a sprawling portfolio of assets, including Austin Reed, the retail chain, the Lygon Arms in the Cotswolds, top London restaurant The Wolseley and a German department-store chain.

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Guest KingCharles1st

Come on RB- this is TOO MUCH BEAR FOOD for a Sunday morning.

Too much Bear food- period.

Some of us always thought it would hit bad, but we are talking financial Tsunami now- and how many lives did the real one take out, it just washed it all away.

I'm going to start a company selling my bum matches on a street corner.. beat the game for once

Edited by KingCharles1st

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Guest Mr Parry
Come on RB- this is TOO MUCH BEAR FOOD for a Sunday morning.

Too much Bear food- period.

Some of us always thought it would hit bad, but we are talking financial Tsunami now- and how many lives did the real one take out, it just washed it all away.

I'm going to start a company selling my bum matches on a street corner.. beat the game for once

How about: BEACHYHEAD FINANCIAL SOLUTIONS LTD.

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Guest Mr Parry
Sadly "Top Shop" is already taken

Sick . . .

I think folks will actually brighten up through this. Materialism puts hideous strain on the human psyche.

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Sick . . .

I think folks will actually brighten up through this. Materialism puts hideous strain on the human psyche.

I kind of agree.

Everyone I speak to seems to hanker after a simpler life without the pressures consumerism burdens us with.

I think that once people resign themselves to a tough few years of getting reaquainted with the more basic pleasures of life there will be a general sense of relief.

And as I keep saying, the very heavily indebted will simply opt for the now very easy option of bankruptcy en masse.

That'll put a smile back on a lot of people's faces!

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Receivers may be busy in the weeks ahead. Times reports on some big names that may be picking up the phone as soon as Monday:

http://business.timesonline.co.uk/tol/busi...icle4322444.ece

THE
£2 billion financial conglomerate Dawnay Day
has this weekend become the latest victim of the credit crunch.
Administrators are expected to be appointed at some of its businesses tomorrow following talks with bankers and advisers.
The privately held company controls or has stakes in a sprawling portfolio of assets, including Austin Reed, the retail chain, the Lygon Arms in the Cotswolds, top London restaurant The Wolseley and a German department-store chain.

I was in austin reed last tuesday getting 'measured' (not happy about what got touched but thats the different story), the guy asked me how busy i was at work, i said "exceedingly" he said ' well i'm glad someone is, the place was indeed dead. They were also exceptionally keen to take my money off me even tho i technically didn't have to pay until i picked up my suit for hire.

Also just who the hell is buying the builders, they've had a pretty good bounce of late, i don't get it!

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  • 396 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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