Monday, January 12, 2009

Another one bites the dust

Land of Leather in administration

"Consumers have been cutting their spending as a result of the economic slowdown, hitting sales of items such furniture. " Really?

Posted by techieman @ 01:54 PM (1877 views)
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18 thoughts on “Another one bites the dust

  • LoL has been struggling for years. No surprises here.

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  • Paul when i first read yr response i thought ouch a bit too much schadenfrauden there, but then i realised LoL was for land of Leather not Laughing out Loud.

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  • We mentioned this last week paul. I was close with DFS. Nearly! lol

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  • I am surprised that they have struggled, they’ve been offering 0% interest rates for years!!

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  • LOL IOU RIP.

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  • How am I expected to blow all my savings if the retailers keep on going bust. Look like I’ll have to put all my saving on the 2:30 at Lingfield and hope it doesn’t win or I’ll be back to square one.

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  • I thought that they would be cushioned from the recession and escape by the seat of there pants.

    Sofa so wrong!

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  • Finally the Land of Leather Sale is over… the sale been going on for god knows how long know ..

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  • Well with such stylish sofas like theirs I wonder why they could not sell?????

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  • DFS still offering 0% over four years and the first year free. I thought there was a problem with credit??

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  • It wasn’t a real land anyway, it was just a shop.

    Foxtons next please.

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  • 9. bystander

    That’s why they were on my short list.

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  • Hi Bystander @ 9 There is an even bigger problem if you take a look at this link. I have friends in the furniture business, who will verify that these mark ups are true and across the industry.
    http://www.muscletalk.co.uk/markup-and-profit-on-furniture-m3097665.aspx

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  • land of leatherage

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  • [email protected]; had two DFS leather two seaters that cost over 1400 quid for 2-1/2 years and the frames are starting to go. Our previous locally sourced and made sofa lasted just under 20 years so I am quite alarmed by the lack of durability in these imported sofa’s.

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  • Bernard Berger says:

    The 0% deals are never really as advertised, the original price is just bumped up to compensate. If you look at the accounts of a business like lol then they will only be able to book a proportion of the total price paid by the customer as revenue up front – say 80%, the remainder is booked as interest income over the number of years the customer takes to pay off the full amount. Hence the accounts tell the shareholders that the customer has paid 100 quid for a leather chair with a fair value of 80 quid and paid 20 interest over the loan term, even though what was advertised to the customer was a 100 quid chair funded by an interest free loan.

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  • Good!

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