It sounds like my least favourite "Director of Web development" has gone in there.

In English, please. I don't speak bean counter. At least explain what a "rights issue" is for those of us more practically inclined and unfamiliar with the "make money out of thin air" type fantasy worlds these accountants often inhabit.

For those like me:

Rights Issue

One of the ways that a company can raise additional funds is to issue new shares. These new shares must be first offered to current shareholders and a rights issue allows a shareholder to buy an additional number of shares for each share held. For example, a two-for-three rights issue entitles shareholders to buy two additional shares for every three owned. Rights can be traded in the market.

(http://glossary.reuters.com/index.php?title=Rights_Issue)

How the hell does this work? Looks to me like they're diluting their existing shares. To my mind, they're not worth any more than they were before they started, so issuing new shares simply devalues those already held. Am I wrong? Money out of thin air indeed.

There are a few more zeroes in the figures than I ever had to deal with, but I recognise the pattern.

They've been running their business on money borrowed from their suppliers. That is, get cash as the box goes out of the front door, but pay for it at the last possible moment.

That's something that's changing. Look at your BT bill: it used to be that you had 28 days after invoice date to pay. Now. with post and bank clearance times, you can be late if the few days you are allowed includes a Bank Holiday weekend,

Now, not all DSGi is as bad as PCWorld, which I suspect has been playing the monopoly game. If you want a washing machine, or a TV. there are plenty of other sources. But their suppliers have put the pressure on, and if the sales were slower--boxes spending longer in store--it can eat a lot of money.

Personal computers are even getting into toyshops. When I bought my Eee PC, the best price was at Toys'R'Us. And they were quite comfortable about selling Linux to the kiddies. That's a good example for the threat to PCWorld and its like. How about a Belkin ADSL-modem/router from Tesco?

Last time I was in PCWorld, a lot of stock was own-brand, and expensive. They're looking backed into a corner.

DSGi in trouble?

What they need to do is not go for a rights issue but call in Crapita.

That'll see 'em off!

Currys / Dixons / PC World have never offered value for money, or employed knowledgable staff, or provided decent aftersales support. I can only attribute their continued existence to a percentage of the public not knowing what bad service and value they're getting.