DVD and CD distributor S Gold & Sons has gone into administration, throwing 120 people out of work. The Walthamstow-based firm actually ceased trading some time ago, but administrators David Gilbert and Martha Thompson, partners at BDO Stoy Hayward LLP, were appointed joint administrators last week. The firm employed 142 staff …
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Posted Tuesday 5th August 2008 13:03 GMT
A 0.7% loss (as a % of turnover) put them into administration and 121 people lost their jobs!!!
What's the betting that the sum of the salaries of the remaining 21 staff is, for example, easily double the stated £300k loss? Not to mention the cost of the management vultures that'll be called in to pick over the debris.
Just saying...
</rampant speculation>
Posted Tuesday 5th August 2008 14:31 GMT
They were a good bunch there, I used to work for a company that did their IT maint, mind you they were using old ICL kit, maybe they still are.
Posted Tuesday 5th August 2008 16:37 GMT
...when axing 86% of one's staff. There are so many more accurate euphemisms one could use.
Posted Tuesday 5th August 2008 20:36 GMT
It is really sad when any company falls on hard times, S golds were one of our suppliers and I wonder how much of their losses are attributable to dvd piracy as just about anyone you meet can tell you that they have watched a film in advance of it's release date.
Posted Wednesday 6th August 2008 09:17 GMT
@teresa suggest you read this link for the word "piracy" is so totally over hyped as it has now become one of the most abused words in the Anglo dictionary !
link= http://www.allbusiness.com/business-planning-structures/business-plans/1440-1.html
or even this link too=http://forum.belmont.edu/cornwall/archives/003452.html
The polite comment is the intertubes search engine is your friend , for the tubes contain several billion answers merely seeking out the right question like a certain socialite well knows the real problem lies with the top two pointers failing to use their single functional brain cell properly .
Posted Thursday 7th August 2008 01:55 GMT
only 300,000 on 46 million T/O
Sounds way too honest to me.
I've known people when they knew the horse's poo poo was going to run into the a/c unit raid the business big.
ANYWAY more likly to do with Amazon and lovefilms joining up.
Posted Thursday 14th August 2008 14:46 GMT
They will be missed.
http://www.dvdsource.co.uk/sgoldandsons
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