Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
P&H have gone bust? Bloody hell, bad news for a lot of small grocers, as well as obviously their own staff.
They were bailed out by Imperial tobacco and JTI last year as the fag boys needed their wagons to keep delivering cancer sticks. Needed more £, non coming from cancer sticks so we're looking to a deal with the Carlyle Group to keep them going.
Those talks reported to have collapsed at 13:30. Industry reacts, news at 14:00 that they're at risk of Administration by Christmas, by 14:30 I'm in meetings looking at how we protect ourselves, at 16:30 I hear they're in administration. That fast - they simply ran out of cash.
I've been told some other stuff this evening but that's not for a public forum... :shock:
Wow, that was very quick, as you say it sounds like the money ran out and the banks pulled the plug.
I’m thinking there must be a lot of small businesses utterly dependent on P&H for their supply chain, lots of independent and small chain grocers are going to be heading to the cash and carry in vans tomorrow.
I actually used to drive for P& H on the odd occasion. A lot of the customers were Petrol Stations, Corner stores, rural general stores etc. I'm not surprised it went quickly. It's a high turnover low margin business - if the thing is losing money then nobody wants to put any more in and it goes all Woolworths. That fell on Credit default insurance - it simply couldn't obtain any if I remember correctly.
Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
P&H have gone bust? Bloody hell, bad news for a lot of small grocers, as well as obviously their own staff.
They were bailed out by Imperial tobacco and JTI last year as the fag boys needed their wagons to keep delivering cancer sticks. Needed more £, non coming from cancer sticks so we're looking to a deal with the Carlyle Group to keep them going.
Those talks reported to have collapsed at 13:30. Industry reacts, news at 14:00 that they're at risk of Administration by Christmas, by 14:30 I'm in meetings looking at how we protect ourselves, at 16:30 I hear they're in administration. That fast - they simply ran out of cash.
I've been told some other stuff this evening but that's not for a public forum... :shock:
Wow, that was very quick, as you say it sounds like the money ran out and the banks pulled the plug.
I’m thinking there must be a lot of small businesses utterly dependent on P&H for their supply chain, lots of independent and small chain grocers are going to be heading to the cash and carry in vans tomorrow.
Naah. Delivered wholesale is thriving and there are plenty of businesses out there who will step in. The big question will be how quickly Tesco can switch on Booker to deliver to their Express and One Stop stores, and Costcutter will need an immediate replacement. Both were planning to exit P&H anyway, now they must do so immediately.
Thursday night's Federation of Wholesale Distributors gala dinner will be fun...
The initially mooted figure was lower, then raised on a sketchy basis in reports to 100bn. I'm still part convinced that was precisely so the eventual figure looks like a win to both sides. There will be backlash.
Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
Hands up those PB Brexiters who just a few months back were saying we should not be paying anything.
Anyone honest enough to admit that ?
Care to name and shame? I think categorising woukd be imporrant as some might well have said 'happy to pay whate owe/reasonable amount but bugger paying anything if they are acting like this', or 'we dont owe anything, but ok if we get something' which is not the same as thoSE who never thought paying anything was a good idea.
Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
P&H have gone bust? Bloody hell, bad news for a lot of small grocers, as well as obviously their own staff.
They were bailed out by Imperial tobacco and JTI last year as the fag boys needed their wagons to keep delivering cancer sticks. Needed more £, non coming from cancer sticks so we're looking to a deal with the Carlyle Group to keep them going.
Those talks reported to have collapsed at 13:30. Industry reacts, news at 14:00 that they're at risk of Administration by Christmas, by 14:30 I'm in meetings looking at how we protect ourselves, at 16:30 I hear they're in administration. That fast - they simply ran out of cash.
I've been told some other stuff this evening but that's not for a public forum... :shock:
Wow, that was very quick, as you say it sounds like the money ran out and the banks pulled the plug.
I’m thinking there must be a lot of small businesses utterly dependent on P&H for their supply chain, lots of independent and small chain grocers are going to be heading to the cash and carry in vans tomorrow.
Naah. Delivered wholesale is thriving and there are plenty of businesses out there who will step in. The big question will be how quickly Tesco can switch on Booker to deliver to their Express and One Stop stores, and Costcutter will need an immediate replacement. Both were planning to exit P&H anyway, now they must do so immediately.
Thursday night's Federation of Wholesale Distributors gala dinner will be fun...
Inded there’s other suppliers out there, but it will take time to arrange contracts and credit lines etc. Good luck to anyone effected, whether directly or indirectly. A bumpy ride that people didn’t need a month before Christmas.
Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
As a matter of interest why have they collapsed
People have stopped smoking.
Damn people being all healthy. In this respect.
Rather like with cars becoming much more fuel efficient, if lots of people are quitting smoking it leaves a hole in the Treasury’s income figures too.
No doubt Faisal Islam will soon be tweeting that this apparent deal is just disastrous for the UK.
Well parliament can always vote to reject it and have no deal instead.
Should be fun to see the switch of one set of party ultras from 'why pay anything, better to habe no deal' to 'oh, but this deal is worth it, never mind if I said no deal was fine we have to avoid it'' and the other from 'no deal is a disaster, anything is better than that and our leaders are too awful to make a deal' to 'this deal is terrible, what a fool for doing what I said they should do'.
The analysis of the reported exit fee is highly speculative. The actual headline figure is not the big issue. The issue is what does the payment cover, which we don't know.
If we are paying the EU 50 billion pounds and getting nothing in return other than the ability to move on to trade talks, then I would say that is a very bad deal.
On the other hand, if the figure represents a fair and reasonable estimate of our obligations to the EU (eg pensions and previously agreed budged commitments), plus continued access to the single market through a transition phase, then it sounds like a good deal.
Good news on the settlement deal with the EU- that magic money tree in action again.
If only giving it a good shake would solve the problem in Ireland. There is hope though- owing the EU money was a red line for Boris and the morons. Now all we have to get through their thick sculls is that we can't dictate trading terms as the smaller player and we might actually manage to escape this nightmare
Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
P&H have gone bust? Bloody hell, bad news for a lot of small grocers, as well as obviously their own staff.
They were bailed out by Imperial tobacco and JTI last year as the fag boys needed their wagons to keep delivering cancer sticks. Needed more £, non coming from cancer sticks so we're looking to a deal with the Carlyle Group to keep them going.
Those talks reported to have collapsed at 13:30. Industry reacts, news at 14:00 that they're at risk of Administration by Christmas, by 14:30 I'm in meetings looking at how we protect ourselves, at 16:30 I hear they're in administration. That fast - they simply ran out of cash.
I've been told some other stuff this evening but that's not for a public forum... :shock:
Wow, that was very quick, as you say it sounds like the money ran out and the banks pulled the plug.
I’m thinking there must be a lot of small businesses utterly dependent on P&H for their supply chain, lots of independent and small chain grocers are going to be heading to the cash and carry in vans tomorrow.
Naah. Delivered wholesale is thriving and there are plenty of businesses out there who will step in. The big question will be how quickly Tesco can switch on Booker to deliver to their Express and One Stop stores, and Costcutter will need an immediate replacement. Both were planning to exit P&H anyway, now they must do so immediately.
Thursday night's Federation of Wholesale Distributors gala dinner will be fun...
Inded there’s other suppliers out there, but it will take time to arrange contracts and credit lines etc. Good luck to anyone effected, whether directly or indirectly. A bumpy ride that people didn’t need a month before Christmas.
Midrange furniture retailers seem to be dropping like flies, too. Early harbingers of the End of Days.
"We have not edited or redacted reports... we have collated information in a way that doesn't include some material." Er, yes Minister.
A marvellously worded statement indeed. I may have used it's like before or had to explain it's like to people. A newly written report which never had info is not edited or redacted, just inadequate. Years ago someone was after a particular document and it turned out it didn't exist, and I had the unenviable task of telling an angry person that, and how it wasnt, as they claimed, us denying them the info, it just didn't exist. (It really should have too)
Brutal day. I've spent the afternoon dealing with what started as a tip off to review our credit limit for Palmer and Harvey and ended with their catastrophic collapse into liquidation and 2,500 people made redundant immediately
As a matter of interest why have they collapsed
People have stopped smoking.
Damn people being all healthy. In this respect.
Rather like with cars becoming much more fuel efficient, if lots of people are quitting smoking it leaves a hole in the Treasury’s income figures too.
Is there some other addictive thing they could tax to make up the difference? Internet commenting perhaps, it's almost as bad for you.
The initially mooted figure was lower, then raised on a sketchy basis in reports to 100bn. I'm still part convinced that was precisely so the eventual figure looks like a win to both sides. There will be backlash.
The various figures were people talking at cross-purposes really:
Figure a) Our share of EU net assets-liabilities, something like 20bn. That was the UK's preferred method, and was never too likely.
Figure b) Our share of the RAL (~30bn) + pensions (~10bn) + other commitments already made (~20bn) = 60bn. The "future aspirations" sometimes included here seem to have been bargained away, and they seem to have negotiated the UK's % down a bit
Then, on top of that, a two year transition would be 2x8.5=£17bn. But does the figure being mooted atm include this?
I imagine the government will buy a bus and paint the net figure on the side of it. Your lot found that too difficult to refute last time, and what's changed?
Hands up those PB Brexiters who just a few months back were saying we should not be paying anything.
Anyone honest enough to admit that ?
I did, and I still say we should not be paying anything. This is not a 'deal', it is a surrender orchestrated by the civil service who have, as usual, taken over.
There is no problem in agreeing to pay a bill, but it was essential that it was properly linked to what we get in return. This has not happened. There is no link, it seems, between this money and the delivery of an FTA. Therefore we should have rejected the deal.
All that will happen is that the EU will now play for time and at the last minute give us a crap trade 'deal' which will not be legally enforceable (they are not allowed to agree an FTA in the article 50 treaty) which we will have to accept. For Davis to keep saying 'nothing is agreed until everything is agreed' is asinine in these circumstances - all it means is that we have agreed in return for nothing.
It is typical of what we have come to expect from the UK establishment in relation to the EU - selling out our interests. And next will come the backbreaker - conceding on ECJ jurisdiction, however it is dressed up.
The backlash will be uncontrollable. May will be out of office by Christmas.
Ouch, very uncomfortable interview with Tulip Siddiq on C4 news. Never let it be said that Labour always gets an easy ride.
Silly of her to respond in that way. Why couldn't she calmly say that she would look into it and talk to the MP for the constituency where this person came from?
She risks that MP (I wonder who it is) raising it publicly or in the Commons and embarrassing her, though he/she may be a Labour MP and so not want to, of course.
I am one of her constituents and she always made a big thing of her political family and how it was in her blood, as it were. So trying to make an issue of being called Bangladeshi - when she herself has highlighted her family background - just makes her look defensive and rude. So unnecessary.
And, yes, if there is something she could do to help a British citizen who has been "disappeared" she ought to.
Isn't this the sort of case Amnesty should be taking up? Or even our Foreign Secretary? We must send enough aid to Bangladesh, after all.
All the broads who post on this site are polite and cogent. Cyclefree is the pick of them, and I thank her for her contributions.
She expresses so well the feeling many of us had with the 'Je suis Hebo' sixth-form variety virtue signalling. Which of those people dared to reprint the cartoons?
Comments
Er, yes Minister.
Thursday night's Federation of Wholesale Distributors gala dinner will be fun...
https://twitter.com/alextomo?ref_src=twsrc^google|twcamp^serp|twgr^author
https://twitter.com/garvanwalshe/status/935598802756620290
Should be fun to see the switch of one set of party ultras from 'why pay anything, better to habe no deal' to 'oh, but this deal is worth it, never mind if I said no deal was fine we have to avoid it'' and the other from 'no deal is a disaster, anything is better than that and our leaders are too awful to make a deal' to 'this deal is terrible, what a fool for doing what I said they should do'.
If we are paying the EU 50 billion pounds and getting nothing in return other than the ability to move on to trade talks, then I would say that is a very bad deal.
On the other hand, if the figure represents a fair and reasonable estimate of our obligations to the EU (eg pensions and previously agreed budged commitments), plus continued access to the single market through a transition phase, then it sounds like a good deal.
If only giving it a good shake would solve the problem in Ireland. There is hope though- owing the EU money was a red line for Boris and the morons. Now all we have to get through their thick sculls is that we can't dictate trading terms as the smaller player and we might actually manage to escape this nightmare
Figure a) Our share of EU net assets-liabilities, something like 20bn. That was the UK's preferred method, and was never too likely.
Figure b) Our share of the RAL (~30bn) + pensions (~10bn) + other commitments already made (~20bn) = 60bn. The "future aspirations" sometimes included here seem to have been bargained away, and they seem to have negotiated the UK's % down a bit
Then, on top of that, a two year transition would be 2x8.5=£17bn. But does the figure being mooted atm include this?
There is no problem in agreeing to pay a bill, but it was essential that it was properly linked to what we get in return. This has not happened. There is no link, it seems, between this money and the delivery of an FTA. Therefore we should have rejected the deal.
All that will happen is that the EU will now play for time and at the last minute give us a crap trade 'deal' which will not be legally enforceable (they are not allowed to agree an FTA in the article 50 treaty) which we will have to accept. For Davis to keep saying 'nothing is agreed until everything is agreed' is asinine in these circumstances - all it means is that we have agreed in return for nothing.
It is typical of what we have come to expect from the UK establishment in relation to the EU - selling out our interests. And next will come the backbreaker - conceding on ECJ jurisdiction, however it is dressed up.
The backlash will be uncontrollable. May will be out of office by Christmas.
She risks that MP (I wonder who it is) raising it publicly or in the Commons and embarrassing her, though he/she may be a Labour MP and so not want to, of course.
I am one of her constituents and she always made a big thing of her political family and how it was in her blood, as it were. So trying to make an issue of being called Bangladeshi - when she herself has highlighted her family background - just makes her look defensive and rude. So unnecessary.
And, yes, if there is something she could do to help a British citizen who has been "disappeared" she ought to.
Isn't this the sort of case Amnesty should be taking up? Or even our Foreign Secretary? We must send enough aid to Bangladesh, after all.
NEW THREAD
https://www.holdthefrontpage.co.uk/2017/news/pro-scots-independence-daily-loses-close-to-a-fifth-of-readers-after-election/
“The editor of pro-Scottish independence daily The National says he has lost almost one fifth of his print readers since June’s General Election.“
She expresses so well the feeling many of us had with the 'Je suis Hebo' sixth-form variety virtue signalling. Which of those people dared to reprint the cartoons?