Sports Direct staying open

[Lord Tyrion]

I know nothing about running a business etc, but surely in these unprecedented times he could of put out a statement saying he intends to use the furlough for staff and is looking for answers from HMRC etc and in the short term, ie a fortnight/month he intends to cover/help with wages.

Next week is end of the month pay though. If we were at the beginning of the month then I doubt he would have said anything. In about 6 days though his company will be expected to pay a bill of who knows what, DRW estimated £18m and that is probably a conservative estimate. All of this when cash flow is zero. Cash flow is everything in business.

If he was being harsh he would simply lay staff off. He isn't, he is going to use the furlough but it just isn't ready yet. He is putting a rocket under the govt so that it is ready before payday.

 

[Deleted member 16999]

Next week is end of the month pay though. If we were at the beginning of the month then I doubt he would have said anything. In about 6 days though his company will be expected to pay a bill of who knows what, DRW estimated £18m and that is probably a conservative estimate. All of this when cash flow is zero. Cash flow is everything in business.

If he was being harsh he would simply lay staff off. He isn't, he is going to use the furlough but it just isn't ready yet. He is putting a rocket under the govt so that it is ready before payday.

So he’s told them to go without pay for 6 weeks, in the mean time they will have bills to pay!

Costa Coffee, for example, have told staff they will cover wages for 8 weeks giving the HMRC a chance to sort things out, the HRMC payments can be back dated to the day the furlough starts in the Company.

I understand Costa may not employ so many staff as him, but which Company is getting the bad press and possibly causing themselves irreversible damage.

 

[Deleted member 23270]

This whole thing is getting out of hand and really becoming a concern. I'm getting bombarded with emails from County Golf about all their sale items. I might crack and spend a fortune. I need to get back to work quickly, it will save me from bankruptcy

Another email, another 2 UA polo shirts ordered ?

 

[Lord Tyrion]

So he’s told them to go without pay for 6 weeks, in the mean time they will have bills to pay!

Costa Coffee, for example, have told staff they will cover wages for 8 weeks giving the HMRC a chance to sort things out, the HRMC payments can be back dated to the day the furlough starts in the Company.

I understand Costa may not employ so many staff as him, but which Company is getting the bad press and possibly causing themselves irreversible damage.

I'm willing to bet a toilet roll that he will pay the staff as normal. I think he is trying to use social media to speed up govt action. It wont be ready in time so he will post another clip by the end of the week advising he will pay the wages and look the good boss. Good boss, bad guy, back to good boss. Tim the hero after all.

He may accelerate the implementation of the scheme though so that will be job done.

 

[Deleted member 16999]

I'm willing to bet a toilet roll that he will pay the staff as normal. I think he is trying to use social media to speed up govt action. It wont be ready in time so he will post another clip by the end of the week advising he will pay the wages and look the good boss. Good boss, bad guy, back to good boss. Tim the hero after all.

He may accelerate the implementation of the scheme though so that will be job done.

He didn’t release the video or letter mate, disgruntled staff did.

Comments have been made by Government ministers about his comments today.

Don’t forget this is the man who also publicly stated boris was wrong in closing pubs down.

Can’t see many seeing him as a good man and if he does retract his statement that’ll be more down to public pressure than him claiming a bluff.

Take care mate.

 

[Papas1982]

I've just way the entire wetherspoons video. Unless there's a second one I can't find.

In what I saw, he didn't tell any staff to leave.
He acknowledged that the furlough payment would be paid and they could sit at home.
He said any that chose to take a better offer at tesco would be welcome back when they opened.

Think some have gone a little ott in their condemnation of him tbh.

 

[MegaSteve]

Whilst the intentions of TM are questionable... I am way more concerned of the construction bosses who believe carry on as normal is acceptable...

 

[Deleted member 16999]

I've just way the entire wetherspoons video. Unless there's a second one I can't find.

In what I saw, he didn't tell any staff to leave.
He acknowledged that the furlough payment would be paid and they could sit at home.
He said any that chose to take a better offer at tesco would be welcome back when they opened.

Think some have gone a little ott in their condemnation of him tbh.

Or he could pay the 80% as per other business’s until the furlough money is sorted as per other big business’s.

He’s offered them nothing, wished them good luck and told them to go get a job elsewhere! How about some loyalty or a bit of compassion?

Maybe the Government should say that to the self-employed, I’m sure some would see no issue with that.

 

[Fish]

Whilst the intentions of TM are questionable... I am way more concerned of the construction bosses who believe carry on as normal is acceptable...

Not just construction, many small manufacturing companies are still open.

I have a wealth of companies I deal with that immediately after BJ’s announcement I contacted only to be told it was business as usual.

The instruction from the government is too subjective and leaves it open for companies to carry on as normal if it’s a safe working environment.

They say ‘stay home’ in one breath then the other says you can travel to work if you can’t work from home!

The 2m rule is probably possible within some companies, but then that contradicts the ‘don’t visit anyone outside of your household’ rule, it’s all too confusing and open to interpretation!

We should be either in lockdown fully, or not, currently we are dipping our toe in, not fully committed.

Do numbers need to keep rising before a full lockdown is announced?

 

[sunshine]

So he’s told them to go without pay for 6 weeks, in the mean time they will have bills to pay!

Costa Coffee, for example, have told staff they will cover wages for 8 weeks giving the HMRC a chance to sort things out, the HRMC payments can be back dated to the day the furlough starts in the Company.

I understand Costa may not employ so many staff as him, but which Company is getting the bad press and possibly causing themselves irreversible damage.

I'm not defending Wetherspoons, but Costa is a franchise, and Wetherspoons is not. Massive impact having a central wage bill. And a business like Wetherspoons doesn't sit on piles of cash, it's probably reliant on weekly takings to pay the bills.

 

[sunshine]

Go on then, why is that, oh wise one?

Really don't need to, DRW and Tyrion have explained in very practical terms. If you couldn't read DRW's post you won't read mine

 

[Deleted member 16999]

I'm not defending Wetherspoons, but Costa is a franchise, and Wetherspoons is not. Massive impact having a central wage bill. And a business like Wetherspoons doesn't sit on piles of cash, it's probably reliant on weekly takings to pay the bills.

Costa is just one example, plenty of business’s “helping” employees or showing compassion, he’s not even tried.

 

[rudebhoy]

Really don't need to, DRW and Tyrion have explained in very practical terms. If you couldn't read DRW's post you won't read mine

Right, so you're happy to dish out the insults, but not prepared to back them up? Nice. This crisis is showing a lot of people in their true colours.

See your mate Tim in the news again today for refusing to pay suppliers until the pubs reopen. No doubt you think that's justified as well despite no other pub chain taking that approach.

 

[Blue in Munich]

Fat Mike continuing to endear himself to his paying public...

https://www.bbc.co.uk/sport/football/52040579

Odious individual.

 

[Dando]

Fat Mike continuing to endear himself to his paying public...

https://www.bbc.co.uk/sport/football/52040579

Odious individual.

That’s awful - £620 to watch that shite ?

 

[sunshine]

Fat Mike continuing to endear himself to his paying public...

https://www.bbc.co.uk/sport/football/52040579

Odious individual.

Agree Ashley is odious, but would be very surprised if he had any involvement in this. He probably has a lot of issues on his plate right now, NUFC is a tiny business and low priority to him.

 

[Hacker Khan]

https://www.bbc.co.uk/news/business-52061206

I've put his statement through google translate and it comes out as 'I was just being my normal dickish self as that's kind of what I do, but it turns out even I have a limit on how much of a dick I can be in these troubling times. So I've decided to seem to be slightly less of a dick. But rest assured, as soon as this blows over I'll be back to being a prime dick'.

 

[Papas1982]

I still don’t see how bicycle shops, market stalls or off licenses are essential. Or post offices for that matter.

 

[Deleted member 16999]

I still don’t see how bicycle shops, market stalls or off licenses are essential. Or post offices for that matter.

Some people still only have one way of collecting benefits/pensions and that is via the Post Office.

The only income they have(some old people etc) is said pension and live week to week.

 

[Lord Tyrion]

Letters still need to get around. Hospital appts, information, all sorts. I'm an email person for pretty much everything but lots of older people still use the post both sending and receiving.