Another firm goes bust

Uncle Mick · 17-09-2008, 18:57

Bolton based Hurstwood Developments went into administration yesterday. Hurstwood have been very active with the redevelopment of the Rawtenstall centre and surrounding area. No doubt there are some local tradesmen who will be affected by this news.
Fresh insolvency for Hurstwood - Business - News - Manchester Evening News

Stanleymad · 17-09-2008, 19:00

It reminds me of the last ressession of '92 seems to be mirroring it these days & many more will go to the wall, tho will be more business for the official recievers companies

panther · 17-09-2008, 19:07

Oh I hope my fella's firm he works for doesnt go bust!!, we will be up the creek!!

scary thought isnt it

cashman · 17-09-2008, 21:39

Quote:

Originally Posted by Stanleymad

It reminds me of the last ressession of '92 seems to be mirroring it these days & many more will go to the wall, tho will be more business for the official recievers companies

think 92 will be nowt compared to this trickle, which sadly i think will soon become a torrent.

polly · 18-09-2008, 00:43

Quote:

Originally Posted by cashman

think 92 will be nowt compared to this trickle, which sadly i think will soon become a torrent.

Sad to say, I agree with you.
Didn't hurstwood have a lot of rented retail/office/industrial properties? I wonder how their tenants will be affected?

Also did anyone else see the HBOS saga unfolding on TV today and wonder what the real story is?

cashman · 18-09-2008, 00:47

Quote:

Originally Posted by polly

Sad to say, I agree with you.
Didn't hurstwood have a lot of rented retail/office/industrial properties? I wonder how their tenants will be affected?

Also did anyone else see the HBOS saga unfolding on TV today and wonder what the real story is?

be interesting to see what comes out in the wash with that one? takeover would never be allowed, but fer the circumstances of the day,of that i'm near sure.

polly · 18-09-2008, 00:50

Quote:

Originally Posted by cashman

be interesting to see what comes out in the wash with that one? takeover would never be allowed, but fer the circumstances of the day,of that i'm near sure.

Yes, I wondered if the Monopolies and Mergers had taken the day off!
My prediction is that sooner or later there is going to be a major financial institution in this country that collapses, just not sure which one it will be.

cashman · 18-09-2008, 00:57

somehow its not that that bothers me, think after "Northern Rock" the powers that be will not allow that to happen, i have lived @ worked through a few boom @bust periods in my time and been fortunate enough to survive without undue worry, now it don't matter no more, this one really bothers me, more fer the young with families etc than owt, hope i am wrong.

polly · 18-09-2008, 01:00

I fear that the Powers That Be are taking their eyes off the ball to much and sooner or later they will get to the stage where they cant or wont prop up any more companies.

cashman · 18-09-2008, 01:01

Quote:

Originally Posted by polly

I fear that the Powers That Be are taking their eyes off the ball to much and sooner or later they will get to the stage where they cant or wont prop up any more companies.

their eyes where ever on the ball?

MargaretR · 18-09-2008, 07:15

Empty business premises now get charged rates (didn't used to be so) -so there will be more of them going up in flames to avoid it.
That will make it harder for new businesses to find premises when the bad times end.