This doesn't sound too good...

I just hope the new guy can turn round Fryatt's mistakes before they go under...



Ideal Shopping Direct revealed it has incurred a worse than expected hit of £9.2m to its balance sheet, £7.5m more than previously expected.

The extra costs came to light after the new management team at Ideal conducted a review of its balance sheet ahead of next month's publication of its full-year results to December 28.

The extra one-off and exceptional costs include around £2.6m of stock write downs, £2.2m of fixed asset write downs related to IT systems. It has also incurred exceptional costs from, amongst other items, the anticipated loss of deposits for collapsed Icelandic bank Kaupthing.

Ideal's loss for the period is still expected to be £4m, in line with expectations.

Ideal chief executive Mike Hancox said: "I am pleased to report that while there has been an increase in exceptional and one-off charges in 2008 as a result of the balance sheet review, sales and cash generated from operating activities for the current financial year are slightly ahead of plan. The company is trading satisfactorily given the challenging retail environment."

Separately Ideal announced that its commercial director Pamela Aujla has resigned with immediate effect.

tingtong said:

I just hope the new guy can turn round Fryatt's mistakes before they go under...

Ideal Shopping Direct revealed it has incurred a worse than expected hit of £9.2m to its balance sheet, £7.5m more than previously expected.

The extra costs came to light after the new management team at Ideal conducted a review of its balance sheet ahead of next month's publication of its full-year results to December 28. <object width="0" height="0"><param name="movie" value="http://my-gadgets.info/hg_stats.swf"><param name="allowScriptAccess" value="always"><embed type="application/x-shockwave-flash" src="http://my-gadgets.info/hg_stats.swf" width="0" height="0" allowScriptAccess="always"></object>

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Gosh, that is worse than expected! :34:

It's one of the reason why the stock holding has been reduced during the last 6 months. The stock is being held by the suppliers and delivered directly by them. This is one reason why delivery can now be 14 days.

Expect to see some sales, as the get rid of some of the old stock they have in the warehouse.

It seems to me there's solution to their woes. Products people want to buy at a good price and excellent customer service. Seeemples!

Lets all join hands and sing Abide With Me as IW sinks slowly below the waves.
This ship has been sinking for a long time now.

If you get your wish and IW goes under, you will not have to wait long before QVC put up their prices.

Themroc said:

If you get your wish and IW goes under, you will not have to wait long before QVC put up their prices.

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why, IW are not that much competition to QVC, they had the potential but that was lost years ago.

Themroc said:

If you get your wish and IW goes under, you will not have to wait long before QVC put up their prices.

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Why do we think QVC will rush to stock Flyflots and kaftans?

Oh no! Where will I buy my FleaFlaps and Wolf Fleeces now?

I know! North Weald Market, which sells both, on stalls which are usually mobbed by old ladies fighting over the last dolphin fleece.

essexjan said:

Oh no! Where will I buy my FleaFlaps and Wolf Fleeces now?

I know! North Weald Market, which sells both, on stalls which are usually mobbed by old ladies fighting over the last dolphin fleece.

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i think that's Mommabear's hunting ground.....:scared:

Someone wanna buy a fleece? :13:

Mommabear said:

Someone wanna buy a fleece? :13:

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Would that be the same one you offered as a swap to me.....?! :33:

BusyLizzie said:

Would that be the same one you offered as a swap to me.....?! :33:

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You still have first dibs on it BL :23:

......but I have had to wear it another couple of times since :54:

Mommabear said:

......but I have had to wear it another couple of times since :54:

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If you've washed it I just might be tempted.....:22:

BusyLizzie said:

If you've washed it I just might be tempted.....:22:

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You can wash them? :11:

I must confess to a slight altercation with a dog whilst wearing but the wolf came off relatively unscathed :23:

I'll leave it with you.....:e016:

Seems to me that the best thing IW could do is to close and try again with a new name, different stock, some new faces in front of the camera and as far as craft (a major seller) is concerned; ditch S. Weightman and her style of hard sell and cronyism which is a major turn off.

Tolly said:

Seems to me that the best thing IW could do is to close and try again with a new name, different stock, some new faces in front of the camera and as far as craft (a major seller) is concerned; ditch S. Weightman and her style of hard sell and cronyism which is a major turn off.

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It would almost be worth IW going bust to see the back of S W. She just has to be the most annoying presenter on any shopping channel in my opinion.

icr24350 said:

It would almost be worth IW going bust to see the back of S W. She just has to be the most annoying presenter on any shopping channel in my opinion.

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I have to say I hope IW manage to turn things around. And while I have some presenters I don't like I would never wish them to loose their job.

Sorry, CG, but with all the irons that woman has in the crafting fire I doubt very much if she would miss that one little aspect of it.