BID TV Can't pay creditors/staff/freelancers and suppliers
- Thread starter BIDMOLE
- Start date
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Nope DW, I kid you not. I didn't see them but Ben did a big introduction for them much along the lines of what I posted earlier.
By the sound if it he appeared to think it was something of a coup but given the circumstances I guess anything is better than nothing :mysmilie_59:
Schlock will soon be resorting to flogging off his old Harry Hill Blouses, at least they'll smell nice (ish).
I watched them try & sell them last night, my god they were awful & hardly any sold. I presume I will be seeing them at my local pound shop shortly.
I hope Bid are still here at Xmas so we can all be given the opportunity at getting one of these meerkat masterpieces:
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PJ.
In an Ideal World ...
I wonder if their creditors will accept this offer on the table, presumably if they don't and it goes into administration they could see even less of anything?
The sad thing is bid are in every home that has a tv now and many of those people don't do internet shopping so if they had taken the Amazon way of doing things, as in great customer service and making small profit on items but selling by the truck load, they could be massive. Reap what you sew.
PJ
The sad thing is bid are in every home that has a tv now and many of those people don't do internet shopping so if they had taken the Amazon way of doing things, as in great customer service and making small profit on items but selling by the truck load, they could be massive. Reap what you sew.
PJ
mr tom
Registered Shopper
PJ.
In an Ideal World ...
I wonder if the OP would be able to answer some questions we have (without giving away who they are). I would love to know how many people really do miss out when they sell something good for a pound with a quantity of one or two. Is it hundreds or thousands?
PJ.
PJ.
Paul_s
tea and cake
there are three people who can save Bid-tv.
Paul Lavers (replacement for Schlock, Simon, Russell, Davies, Mason et al)
Grotbags (replacement for Jaxx, Lyndsey and Brash)
Sweep (makes more sense)
mr tom
Registered Shopper
Paul lavers is a shopping tv god, legend..... tsar
PJ.
In an Ideal World ...
It would be delicious irony if Graham got it be one of the creditors who have a say in the CVA
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.
mr tom
Registered Shopper
Hi benny. I agree with you in theory, however qvc seem to be amazing at making itself seem mainstream important.
I think bid's decline was speeded up by it's attempts to be more professional, for example the removing of the peter simon intro. i think it alienated more of their shamelessly loyal fanbase. I think it's fair to say that most of us originally watched bid for it's guerrilla style of shopping tv presentation.
There is literally nothing they can do under the bid shopping branding which will get them back on track. They have had a bad reputation recently but have been around for 14 years and have that as a reason why people *should* trust them. Somebody said about a complete re-branding which would be the only viable option; but entering a new company in the current climate would be hard to do and would improve nothing if they even 50% of the current presenters stayed.
you make a good point Adam and Benny, it may well be too late
the products over recent years have become such poor quality and 'same old, same old' that there may be no way out of this
and the events of recent weeks would suggest that Situp are in a real mess
Price Plunge
Registered Shopper
- Joined
- Aug 3, 2008
- Messages
- 1,485
If they still had some spare cash in the bank they could buy their way out of a decline even by bringing back megadrops (quality products that sell for £1 without warning) to get people to keep watching, together with improving general product quality and obtaining good quality exclusives like jewellery and other hand-crafted products. But they haven't, so they can't do anything like this without outside assistance.
So the future's pretty bleak for them at present; the best-case scenario without radical change is that they somehow manage to limp along just scraping a profit for the next few years. Ideal World has managed to survive so far and they aren't supposedly in the same class as QVC, but Bid and Price-drop are in a more difficult situation having "shot their fox" (so to speak) already.
steveh31
Registered Shopper
Paul_s
tea and cake
I'm still gob-smacked and in a state of disbelief they allowed themselves to go into debt by so much (hence my earlier posts if this thread was a wind up)
£68m is a serious amount of money.
"It is understood that a significant amount of money owed is for contractual breaches that were made as the company slid into mounting losses."
Even behind the scenes they were conducting themselves in a dodgy way. Why should anyone/company part with their money on this shower in the future.
