Scs Upholstery Share Discussion Threads

[topinfo] 18/6/2008 22:49

At least there will be some cheap sofas going at the weekend.!!! I say administrators in by the weekend, cease trading on Friday and shares suspended pending financial clariffication.!!!

[stallone10] 18/6/2008 22:22

stevesmith5487 what did he pay for the flats?

[warrenc] 18/6/2008 21:29

Bust on friday , lots of companies seem to go on friday for some reason . Anyone buying these now is just kidding themselves . You've more chance at the bookmakers !!!! R.I.P

[still waiting] 18/6/2008 21:27

Yes but he thought he could get rich quick and the banks went along with him.

Banks to blame for all this IMHO, I feel sorry for employees, my wife was made redundant on Monday after getting back from Hols on sunday so I know how they'll be feeling now.

I work at a firm of accountants and its every business and every sector thats cutting back on staff at the moment, the only people doing well from all this are the liquidators.

[isis] 18/6/2008 21:04

This started with the Government's wish to relax lending to boost the economy back in 2001 when we were having a stockmarket crash and 9/11.
They had plenty of chances to reign it in but realised it was an election winner by allowing people to borrow stupid amounts for houses they couldn't really afford.
This is a direct consequence of lax lending blessed by the Government, of that there is no doubt. The Duck has finally come home to Rooost!

[bullet8] 18/6/2008 21:01

and hundreds of people made redundant,who will claim benefits and rightly so,
paid for through your taxes.what i am saying is it all has a knock on effect,and i believe it trails back to the banks with their crazy lending policies that has brought about this mess nationwide.

[rbonnier] 18/6/2008 19:33

LONDON (Thomson Financial) - ScS Upholstery PLC said its chairman Michael
Francis Browne bought 500,000 shares in the company at 105 pence each, lifting
his stake to 7.65 mln shares or 22.57 pct of the issued share capital.

[e-mail]
ukn/lam

ouch I feel for the guy thats one heck of a loss unless theres some sort of miracle .

[isis] 18/6/2008 19:32

If it's the Directors pay - then yes. Don't fancy July's though.

[hsbcpremier] 18/6/2008 19:29

anyone think this will survive June pay day?

[dreggspicker] 18/6/2008 18:51

log, how did you guess?? ha ha ha

[dreggspicker] 18/6/2008 17:30

Most of our sales are to " working people " we just don't do credit - other than credit cards
Mind you we don't waste money on adverts, non at all except yellow pages which is a big help in the costs

[rbonnier] 18/6/2008 17:14

This reminds me of Scoot.Com !!

[still waiting] 18/6/2008 17:09

high fixed costs are the killer, they overexpanded whilst everyone re-mortgaged and traded up the property ladder.

The rungs on that have collapsed and trade for the furniture retailers has evaporated but the high rent,rates,L&H and salary costs are by their very nature fixed or have even increased.

This leaves them with very little scope to cut costs other than the advertising budget which just makes matters worse.

In summary, you can't get round the overcapacity issue, someone will have to fail to enure the fittest survive.

I'm expecting an RNS here tomorrow hence the sudden collapse in share price tonight, I think the re-financing talks may have just failed.

[dreggspicker] 18/6/2008 17:06

Well, not EVERYONE thinks like that Karn, but obviously they aren't getting enough of the right people!

[isis] 18/6/2008 17:04

It's their massive overheads that kill them off. They need constant business to keep going, downturns are not factored in the business model hence the rapid decline.
This has been known for years and is nothing new - it always happen as sure as rain.

[karn evil 9] 18/6/2008 17:03

I might pop in on their closing down sale.

[karn evil 9] 18/6/2008 17:02

What chance do they have.

With the credit crunch on, Mortgages rising, house prices falling, fuel prices rising, food prices rising, fear of unemployment.

The last place I would be, would be in a furniture shop buying a leather sofa.

[dreggspicker] 18/6/2008 16:56

I really don't know why they didn't suspend on the 16th?
Must say at the mo, as a small furniture retailer, we are doing quite well, in fact better than last year, I sold a good leather suite this morning in fact!
I am just gobsmacked how far down SUY & LOL have come in just 1 year