BID TV Can't pay creditors/staff/freelancers and suppliers

[Bennyxp]

"Entrepreneurs Paul and Val Wright, the couple who launched Ideal Shopping, plan to rescue Sit-up by investing £6m but the funding is conditional on the CVA being passed. If it is Sit-up has warned it will go bust."

 

[Paul_s]

"Entrepreneurs Paul and Val Wright, the couple who launched Ideal Shopping, plan to rescue Sit-up by investing £6m but the funding is conditional on the CVA being passed. If it is Sit-up has warned it will go bust."

Indeed they shall. With the amount owed and the pittance they are offering to 'pay-off' the debt I can't see the creditors agreeing unless they seriously think there is a future (would love to be a fly on the wall at the creditor meeting).

If it was for a 'small' amount of debt - say up to £5m then it would be highly probable of agreeing a CVA but they've let the debt mount up by so much it's at the point of no return. (IMO).

This 'relaunch' tonight is all wishful thinking and I don't think it will last too much longer... they are just delaying the inevitable.

 

[Wirral70]

I personally think they will secure the amount of votes required and it will plod on for a while longer but I suspect their ultimate fate is sealed, it probably has been for years.

They are utterly irrelevant.

 

[Paul_s]

I personally think they will secure the amount of votes required and it will plod on for a while longer but I suspect their ultimate fate is sealed, it probably has been for years.

They are utterly irrelevant.

I wonder if they'll have James Russell at the creditors meeting with his powers of persuasion to influence their decision? :grin:

 

[Wirral70]

I wonder if they'll have James Russell at the creditors meeting with his powers of persuasion to influence their decision? :grin:

Oh yes, he's on board for that task Mr Paul.

And Gollum is on hand to tell them the history of Sit-Up, quite literally. :mysmilie_59:

Now that's what you call 2 pairs of safe hands.

 

[Mommabear]

They employ 350 people!

To hear them talk it's just me and you, Bob in the warehouse and the cameraman, cutting out all those overheads that a shop has!!

 

[Price Plunge]

They employ 350 people!

To hear them talk it's just me and you, Bob in the warehouse and the cameraman, cutting out all those overheads that a shop has!!

Perhaps they also include all the subcontracted people in their (Indian?) call centre as well, which could a bit of a cheat since those people may also answer calls for several different other companies dependent on the number dialled to reach them.

Personally I thought that the number of staff minus any warehouse operatives/call centre staff was more like 80, especially as management supposedly wrote and approved all the text that appeared on-air (hence occasional spelling mistakes, etc., if not double-checked). Purely my guesswork, but each channel superficially appears to have two camera operators, one unseen assistant, one make-up artist, one producer and one supervisor in operation at any one time, with another group for alternate shifts (12 in total) that has some overlap for sickness and holiday cover, etc., plus the presenter and on-screen assistant roster (some freelance/subcontracted). On top of this there's most likely to be the executive board, buying team (though this could be a hands-on management thing judging from the tat they sell), IT support including studio equipment and website, caretaker and cleaning staff (most likely some subcontracted), accountants, lawyers plus Gollum's entourage :mysmilie_59:

 

[Paul_s]

Attention Bid 'creditors' - meeting scheduled for the 18th March.

Please, on the meeting scheduled for the 18th March vote NO!

Sit-up are laughing at you all like Skeletor in this video: http://www.youtube.com/watch?v=4HAUzVJPM2g

You will be offered a free lunch on the meeting and probably a free bar tab but this is just a ruse!

yours sincerely,

Reverend Green in the board room (with the laser pen of death and fancy Miucrosoft Powerpoint presentation (the graphs are upside down :mysmilie_59: )...

 

[Greg]

Oh yes, he's on board for that task Mr Paul.

And Gollum is on hand to tell them the history of Sit-Up, quite literally. :mysmilie_59:

Now that's what you call 2 pairs of safe hands.

Yah, that's only going to work if the creditors are:

1) Elderly
2) Vulnerable
3) A bit simple
4) Regularly converse with small glass angels/teddy bears

 

[snowden]

Perhaps they also include all the subcontracted people in their (Indian?) call centre as well, which could a bit of a cheat since those people may also answer calls for several different other companies dependent on the number dialled to reach them.

Personally I thought that the number of staff minus any warehouse operatives/call centre staff was more like 80, especially as management supposedly wrote and approved all the text that appeared on-air (hence occasional spelling mistakes, etc., if not double-checked). Purely my guesswork, but each channel superficially appears to have two camera operators, one unseen assistant, one make-up artist, one producer and one supervisor in operation at any one time, with another group for alternate shifts (12 in total) that has some overlap for sickness and holiday cover, etc., plus the presenter and on-screen assistant roster (some freelance/subcontracted). On top of this there's most likely to be the executive board, buying team (though this could be a hands-on management thing judging from the tat they sell), IT support including studio equipment and website, caretaker and cleaning staff (most likely some subcontracted), accountants, lawyers plus Gollum's entourage :mysmilie_59:

Not sure how many they do employ but it is way more than 80 !!!! believe me

 

[mr tom]

Please, on the meeting scheduled for the 18th March vote NO!

Sit-up are laughing at you all like Skeletor in this video: http://www.youtube.com/watch?v=4HAUzVJPM2g

You will be offered a free lunch on the meeting and probably a free bar tab but this is just a ruse!

yours sincerely,

Reverend Green in the board room (with the laser pen of death and fancy Miucrosoft Powerpoint presentation (the graphs are upside down :mysmilie_59: )...

that laugh is awesome!!

 

[cheeky chappie]

It's easy to say that the downfall of the company was them removing the decent products and 'deals' and replacing it with tat; however, their peak was in 2007 and by 2008 their net worth was approximately halved. At this time there were great deals. If they carried on the way they did, they would have been gone circa 2010. All models of selling have their maturity and decline - it's just how the company acts in how rapid the decline will be. Obviously online shopping, comparison sites, apps etc. are much more freely available and with customers wanting customisation in their products, what ever bid do they will soon be gone. In fact, I would be very surprised if any shopping channel lasts another decade - even QVC. The only ones I can see with hope are jewellery channels - not in the strongest position financially now, but it's the only real product which is more customised and unable to be bought from thousands of outlets.

totally agree with this and touched on it in another topic, the existing models won't survive as we transition more and more to e-procuring. sure there are folk that want to sit hour in/out and watch real life del boys and girls sell them stuff ranging from decent quality to tat. sure there are folk that don't like shopping via the net and/or smart devices. sure there are folk that don't have net access or decent 3G.

all of these will drop in numbers as the years go on though. for sure in their current guise, shopping channels are on borrowed time me thinks.

 

[Price Plunge]

all of these will drop in numbers as the years go on though. for sure in their current guise, shopping channels are on borrowed time me thinks.

Argos tried combining its strongly-established and reasonably-profitable traditional sales route with selling via shopping channels but that didn't work for them either. And if you're trying to be vaguely competitive with online-only sellers then the overheads of a shopping channel make it extremely difficult to be competitive in this regard.

 

[Bennyxp]

Perhaps they also include all the subcontracted people in their (Indian?) call centre as well, which could a bit of a cheat since those people may also answer calls for several different other companies dependent on the number dialled to reach them.

Personally I thought that the number of staff minus any warehouse operatives/call centre staff was more like 80, especially as management supposedly wrote and approved all the text that appeared on-air (hence occasional spelling mistakes, etc., if not double-checked). Purely my guesswork, but each channel superficially appears to have two camera operators, one unseen assistant, one make-up artist, one producer and one supervisor in operation at any one time, with another group for alternate shifts (12 in total) that has some overlap for sickness and holiday cover, etc., plus the presenter and on-screen assistant roster (some freelance/subcontracted). On top of this there's most likely to be the executive board, buying team (though this could be a hands-on management thing judging from the tat they sell), IT support including studio equipment and website, caretaker and cleaning staff (most likely some subcontracted), accountants, lawyers plus Gollum's entourage :mysmilie_59:

The shopping telly hierarchy is a much greater scale than exec. board> management> Buyers> Floor staff... there will be at least 3 layers of management

 

[Bennyxp]

And if you're trying to be vaguely competitive with online-only sellers then the overheads of a shopping channel make it extremely difficult to be competitive in this regard.

Which is why shopping channels have had their time. As stated, you can buy exactly what you want on the internet when you want, what ever size, colour etc. For example, you could buy a kettle online, chouse from thousands of different designs, brands, models and order within 10 minutes instead of waiting hours for one to pop up on tv where they pick the colour brand etc for you. And the internet having lower overheads...just another reason why shopping channels are [slowly] dieing.

 

[MrMobo]

And now, the end is near.... And so I face the final curtain .....

 

[Price Plunge]

And now, the end is near.... And so I face the final curtain .....

And Gollum did it ... HIS ... way ...

(Peter Simon sobs uncontrollably in the mythical bosom of "Our Bet".)

 

[PJ.]

I always think when someone or something passes the law should be Sir Elton rewrite Candle in the Wind.

Goodbye Bid shopping,
Though we seemed to know you,
Far to very much,
It seems to be that you lived your life,
Ripping off so many people,
With your worry angels, your net dongles,
And your church with steeples.
And I am sure the main presenters were told just what to say,
But they could have, walked up refused and said now way.
Your rip off phone lines will die out long before,
The leg-end MeMike Mason ever will.

Sent from my Vodafone 354 using Forum Runner *meep meep*

 

[Mommabear]

I always think when someone or something passes the law should be Sir Elton rewrite Candle in the Wind.

Goodbye Bid shopping,
Though we seemed to know you,
Far to very much,
It seems to be that you lived your life,
Ripping off so many people,
With your worry angels, your net dongles,
And your church with steeples.
And I am sure the main presenters were told just what to say,
But they could have, walked up refused and said now way.
Your rip off phone lines will die out long before,
The leg-end MeMike Mason ever will.

Sent from my Vodafone 354 using Forum Runner *meep meep*

Bravo PJ :mysmilie_851::mysmilie_851:

 

[PJ.]

Bravo PJ :mysmilie_851::mysmilie_851:

I so need to get out more, or less one of the two


I wonder when we will hear about the creditors meeting