SAAB are broke, Moben goes bust now Habitat stores close...

What's going on this week!

SAAB are out of cash and production has stopped. Interesting insider look at SAAB post here: An update on Saab's situation from the inside
Feel for anyone who has money down on a new Saab Plus wonder how long the Franchise delaerships can last with no cash coming in.. remember Rover?

Bad news for Homeform who have gone into administration which includes the brands Moben, Kitchens Direct and Dolphin.
BBC News - Moben owner Homeform to enter administration

Now Habitat, the struggling furniture chain looks like it will lose all of its store outside of London, as Argos's owners make a bid to buy the business.
BBC News - Habitat stores outside London to close

Blimey, has anyone banded round the term economic recovery recently?

If you're a business owner that has been trading before the 2008 economic meltdown and still going strong, pat yourself on the back!

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Over here things seem to be going ok, but debt is a huge issue for most still, which will probably always be an issue.. but because of the crash, people have been spending a little more responsibly. The country's debt figure, personal debt I mean, is astoundingly high, regardless of how responsible most have become.

I'm still in shock though, I never really thought SAAB would do badly.

Did SA have the same financial crisis that the US and UK suffered? ie local banks having to get bailed out to stop them going bust?

Sounds like toxic debt is a global issue, mortgages that can't be repaid etc.

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SAAB have been struggling for years - failed to bring out new models for seems like ever - GM were making a heavy loss so they offloaded it.

I'm not surprised that they have continued troubles as the market for new vehicles hasn't recovered much since 2008.

I think a lot of business have survived / are surviving but thats different from doing well!

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Now's bad but however gloomy 2011 is, it doesn't feel like a rerun of 2008. I feared meltdown then.

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I know what you mean, when a highstreet chain or big name struggles or folds, you think, ahh such a shame, and have a reminisce.

But when the banking institution was falling down around your ears, it felt like Armageddon

Mind you, it's a bizarre moment in history to be living in when entire countries have nearly gone bust, Iceland, Ireland, Greece, Spain.... wonder if we will look back in 20 years and think blimey, I ran a business through that

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SA was badly affected yes. We had a few of our most rock solid banks applying for relief from our reserve bank. Some of our biggest stores had to downscale big time, closing down stores in areas and only keeping a hand full open. Things are coming right slowly, but you can still clearly see that we are "healing".

I think for me it is simple not moving with the times for these companies.

What market was habitat based on, Ikea comes along and takes a massive amount of the market what did they do?

Moben kitchens - I am amazed it last this long, again Ikea, B&Q do kitchens so why would I go to Moben - perception they where a cheesy salesmen lead company.

Any business that stops looking inwards and thinks open the doors they will come deserves what they get.

Retail is changing and clearly with the internet it makes it easier for people to shop etc.

Many of these business run at such small margins it was always going to catch up with them.

Rather than concentrate on the one's who stood still and thought the customer was not king take a look at those who are doing well Asos making money in today's market and increasing market share (means someone is loosing market share) John Lewis making money - why? people who work in the business own the business.

I am not sure but I assume the mobens and the like did not say to themselves ok market shrinking lets cut the 100's of outlets to 50% of what we can try and trade out etc.

You snooze you loose!

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Its such a shame that more and more long term high street brands are closing due to people buying online, unfortunately people just don’t want to buy from the high street when they can buy online for cheaper.
Shame its gone this way but that’s life

lol says Tim from his online store in Jersey, the UK Tax Haven

Got any spare room, we're all coming over!

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