Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


Filter this topic showing only the reply marked as answer View this topic in a long page with up to 500 replies per page Create new topic
1 | ... | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | ... | 94
979 posts

Ultimate Geek

Subscriber

  # 1464903 7-Jan-2016 09:41
One person supports this post
Send private message

tdgeek:
MikeB4: My personal view is the receivers will struggle to sell the Group, they may be able to sell parts such as DSE New Zealand but I doubt that will happen.

I also feel there will be more of these collapses in this sector due to unsustainable pricing expectations by customers and competition pressure from off shore sellers.



Hard to say. On one hand we have  the big boys, NH, Noels, etc. Then there is the Jaycar at the other end. DSE needs to reinvent itself, be a bit of a smaller big boy, and a Jaycar to a degree to offer some differentiation. I think they can and should keep the DSE name, its not attracting the same reaction as we are on here. It will be a bargaion for someone who can show a bit of vision. But like other industries, they can be a race to the bottom.



If you think of DSE being Australasia's version of Tandy/RadioShack, then I think we can clearly see where it is heading.

719 posts

Ultimate Geek


  # 1464908 7-Jan-2016 09:46
Send private message

Had this link shared by a mate of FB - makes for an interesting read:

https://foragerfunds.com/bristlemouth/dick-smith-is-the-greatest-private-equity-heist-of-all-time/


 
 
 
 


13301 posts

Uber Geek

Trusted
Lifetime subscriber

  # 1464936 7-Jan-2016 10:11
Send private message

MikeB4: My personal view is the receivers will struggle to sell the Group, they may be able to sell parts such as DSE New Zealand but I doubt that will happen.

I also feel there will be more of these collapses in this sector due to unsustainable pricing expectations by customers and competition pressure from off shore sellers.



They'll just sell the property and other physical assets to repay the bank and won't care two hoots what else happens as long as they get paid too.





18059 posts

Uber Geek

Trusted

  # 1464947 7-Jan-2016 10:22
Send private message

Geektastic:
MikeB4: My personal view is the receivers will struggle to sell the Group, they may be able to sell parts such as DSE New Zealand but I doubt that will happen.

I also feel there will be more of these collapses in this sector due to unsustainable pricing expectations by customers and competition pressure from off shore sellers.



They'll just sell the property and other physical assets to repay the bank and won't care two hoots what else happens as long as they get paid too.


Comments here show they lease most of the premises, and the assets such as plantt, etc would be very low value, and stock, probably also. Some stock wont count if its under Romalpa clause

Given the comments that non one would buy it, I guess they have no choice but to liquidate it.


2866 posts

Uber Geek

Trusted
Subscriber

  # 1464950 7-Jan-2016 10:23
Send private message

MikeB4: 
I also feel there will be more of these collapses in this sector due to unsustainable pricing expectations by customers and competition pressure from off shore sellers.



Good point.

1. One of the upsides of free enterprise is competitive pressure to drive down prices. There are plenty of threads on Geekzone demonstrating contributors expectations to get the latest kit at the absolute lowest possible price.

2. One of the downsides of free enterprise is that, on occasions, some companies can't survive this competitive pressure, go under, and, yes, some unlucky punters lose out as a result.

Sorry folks, but you can't have 1 without 2.

14221 posts

Uber Geek

Trusted
Subscriber

  # 1464964 7-Jan-2016 10:35
Send private message

tdgeek:
Geektastic:
MikeB4: My personal view is the receivers will struggle to sell the Group, they may be able to sell parts such as DSE New Zealand but I doubt that will happen.

I also feel there will be more of these collapses in this sector due to unsustainable pricing expectations by customers and competition pressure from off shore sellers.



They'll just sell the property and other physical assets to repay the bank and won't care two hoots what else happens as long as they get paid too.


Comments here show they lease most of the premises, and the assets such as plantt, etc would be very low value, and stock, probably also. Some stock wont count if its under Romalpa clause

Given the comments that non one would buy it, I guess they have no choice but to liquidate it.



The massive sell off of stock over the last month will have ensured there are very lean pickings for the receivers. The question is what happened to the funds from the product sell off, if it has"melted away" then
the receivers may have legal recourse if it can be shown the company was insolvent and Directors did not act to rectify or acted in an inappropriate manner regarding funds.




Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

There is no planet B

 

 


18059 posts

Uber Geek

Trusted

  # 1464985 7-Jan-2016 10:48
Send private message

MikeB4:
tdgeek:
Geektastic:
MikeB4: My personal view is the receivers will struggle to sell the Group, they may be able to sell parts such as DSE New Zealand but I doubt that will happen.

I also feel there will be more of these collapses in this sector due to unsustainable pricing expectations by customers and competition pressure from off shore sellers.



They'll just sell the property and other physical assets to repay the bank and won't care two hoots what else happens as long as they get paid too.


Comments here show they lease most of the premises, and the assets such as plantt, etc would be very low value, and stock, probably also. Some stock wont count if its under Romalpa clause

Given the comments that non one would buy it, I guess they have no choice but to liquidate it.



The massive sell off of stock over the last month will have ensured there are very lean pickings for the receivers. The question is what happened to the funds from the product sell off, if it has"melted away" then
the receivers may have legal recourse if it can be shown the company was insolvent and Directors did not act to rectify or acted in an inappropriate manner regarding funds.


Most certainly. They can be held personallly liable.   There are mumblings as in OZ, DSE gave 10% discounts on the gift cards, pre Xmas. Gives the word misleading a whole new meaning

 
 
 
 


3594 posts

Uber Geek


  # 1465003 7-Jan-2016 11:11
Send private message

So the articles that quoted Gerry Harvey as saying a fire sale would be suicide... appears to pretty close to the mark.
Sure, they may not die completely, but it's not looking great from here.

1906 posts

Uber Geek


  # 1465028 7-Jan-2016 11:29
One person supports this post
Send private message

Detruire:
trig42: How big is the Riccarton DSE?
Would it be big enough to fit a JB HiFi? (JB  Stores have a much bigger footprint than the average DSE, but a DSE Powerstore like they have at Sylvia Park, and Manukau would be big enough).
Wonder if JB are interested. Probably not given the small size of most of the stores.


JB bigger than DSE? Really? The JB store in Palmerston North feels half the size of the DSE store.
yet JB seem to pack in much more stock and is 100x busier :p

ps, remember when palmy had two dse stores?

14221 posts

Uber Geek

Trusted
Subscriber

  # 1465030 7-Jan-2016 11:35
One person supports this post
Send private message

MadEngineer:
Detruire:
trig42: How big is the Riccarton DSE?
Would it be big enough to fit a JB HiFi? (JB  Stores have a much bigger footprint than the average DSE, but a DSE Powerstore like they have at Sylvia Park, and Manukau would be big enough).
Wonder if JB are interested. Probably not given the small size of most of the stores.


JB bigger than DSE? Really? The JB store in Palmerston North feels half the size of the DSE store.
yet JB seem to pack in much more stock and is 100x busier :p

ps, remember when palmy had two dse stores?


JB HiFi stores are a nightmare to shop in. Not well organised, too small, too crowded, cluttered floor and aisles, constant loud annoying music. The Wellington store smells horrible.




Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

There is no planet B

 

 


3594 posts

Uber Geek


  # 1465041 7-Jan-2016 11:48
Send private message

MikeB4:
MadEngineer:
Detruire:
trig42: How big is the Riccarton DSE?
Would it be big enough to fit a JB HiFi? (JB  Stores have a much bigger footprint than the average DSE, but a DSE Powerstore like they have at Sylvia Park, and Manukau would be big enough).
Wonder if JB are interested. Probably not given the small size of most of the stores.


JB bigger than DSE? Really? The JB store in Palmerston North feels half the size of the DSE store.
yet JB seem to pack in much more stock and is 100x busier :p

ps, remember when palmy had two dse stores?


JB HiFi stores are a nightmare to shop in. Not well organised, too small, too crowded, cluttered floor and aisles, constant loud annoying music. The Wellington store smells horrible.


But loud activity attracts people like a moth to a flame...
And people attract people.
The old school 'stack 'me high watch 'me fly' mentality gives the impression that you're well stocked and that it was a bulk buy, so it's going to sell cheap... Even though the stores entire stockhold may be the 3 products in boxes plus the 1 unit that's sitting on top of them, on display.

2017 posts

Uber Geek

Trusted

  # 1465072 7-Jan-2016 12:20
Send private message

My two pennies worth .... yes companies/retailers do often go bust for a variety of reasons, and there are currently legalities covering receivership etc.

However, I feel that the poor people who are holding gift certificates and the like are really being shafted .... as has been pointed out in various media they/someone paid real money for them, and essentially they are owed goods from the store regardless.

Not honouring the credits is tantamount to stealing, and made worse simply because they sold something, never provided it, and are now seeking to sell the business and its stock to someone else ... double-dipping?

In my own case, I made an online purchase (to be picked up in-store) before Xmas, and contrary to their statements on their web site -

1.  No email confirmation received
2.  No subsequent call from store to come pick it up
3.  No response to Customer Service email relating above matter
4.  No response to second email
5.  Call to 0800 number elicited a "matter has been escalated, please be patient" response.

Fortunately I am in the gun for only $5.00

979 posts

Ultimate Geek

Subscriber

  # 1465075 7-Jan-2016 12:23
Send private message

MadEngineer:
Detruire:
trig42: How big is the Riccarton DSE?
Would it be big enough to fit a JB HiFi? (JB  Stores have a much bigger footprint than the average DSE, but a DSE Powerstore like they have at Sylvia Park, and Manukau would be big enough).
Wonder if JB are interested. Probably not given the small size of most of the stores.


JB bigger than DSE? Really? The JB store in Palmerston North feels half the size of the DSE store.
yet JB seem to pack in much more stock and is 100x busier :p

ps, remember when palmy had two dse stores?


And, so I am told, the Palmy store was the most profitable one in NZ.

15147 posts

Uber Geek


  # 1465078 7-Jan-2016 12:30
Send private message

MikeB4:
MadEngineer:
Detruire:
trig42: How big is the Riccarton DSE?
Would it be big enough to fit a JB HiFi? (JB  Stores have a much bigger footprint than the average DSE, but a DSE Powerstore like they have at Sylvia Park, and Manukau would be big enough).
Wonder if JB are interested. Probably not given the small size of most of the stores.


JB bigger than DSE? Really? The JB store in Palmerston North feels half the size of the DSE store.
yet JB seem to pack in much more stock and is 100x busier :p

ps, remember when palmy had two dse stores?


JB HiFi stores are a nightmare to shop in. Not well organised, too small, too crowded, cluttered floor and aisles, constant loud annoying music. The Wellington store smells horrible.


I went into the Wellington store again a few days ago with my parents, it was the first time in a couple of years. I can confirm their Wellington store still stinks. Infact it was so offensive that we didn't want to spend too long in it. My parents thought it was really bad BO. It would win the award of being the smelliest store in Wellington. The store is a bit of a dive compared to their new Lower Hutt store, and is limited in what they sell, they don't even sell home appliances.

1274 posts

Uber Geek


  # 1465085 7-Jan-2016 12:41
Send private message

MadEngineer:
Detruire:
trig42: How big is the Riccarton DSE?
Would it be big enough to fit a JB HiFi? (JB  Stores have a much bigger footprint than the average DSE, but a DSE Powerstore like they have at Sylvia Park, and Manukau would be big enough).
Wonder if JB are interested. Probably not given the small size of most of the stores.


JB bigger than DSE? Really? The JB store in Palmerston North feels half the size of the DSE store.
yet JB seem to pack in much more stock and is 100x busier :p

ps, remember when palmy had two dse stores?


DSE seemed to have a greater number of categories of stock, but less choice within each of those categories (the whole lack-of-focus thing.)

I do. Pretty sure the smaller one still stocked (a rather limited range) of components very close to it's closure.




rm *


1 | ... | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | ... | 94
Filter this topic showing only the reply marked as answer View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

D Link ANZ launches EXO Smart Mesh Wi Fi Routers with McAfee protection
Posted 15-Oct-2019 11:31


Major Japanese retailer partners with smart New Zealand technology IMAGR
Posted 14-Oct-2019 10:29


Ola pioneers one-time passcode feature to fight rideshare fraud
Posted 14-Oct-2019 10:24


Spark Sport new home of NZC matches from 2020
Posted 10-Oct-2019 09:59


Meet Nola, Noel Leeming's new digital employee
Posted 4-Oct-2019 08:07


Registrations for Sprout Accelerator open for 2020 season
Posted 4-Oct-2019 08:02


Teletrac Navman welcomes AI tech leader Jens Meggers as new President
Posted 4-Oct-2019 07:41


Vodafone makes voice of 4G (VoLTE) official
Posted 4-Oct-2019 07:36


2degrees Reaches Milestone of 100,000 Broadband Customers
Posted 1-Oct-2019 09:17


Nokia 1 Plus available in New Zealand from 2nd October
Posted 30-Sep-2019 17:46


Ola integrates Apple Pay as payment method in New Zealand
Posted 25-Sep-2019 09:51


Facebook Portal to land in New Zealand
Posted 19-Sep-2019 18:35


Amazon Studios announces New Zealand as location for its upcoming series based on The Lord of the Rings
Posted 18-Sep-2019 17:24


The Warehouse chooses Elasticsearch service
Posted 18-Sep-2019 13:55


Voyager upgrades core network to 100Gbit
Posted 18-Sep-2019 13:52



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.