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Tag: United Kingdom

Where’s my free plastic bag?

Where’s my free plastic bag?

One thing that is starting to annoy me recently is the new policy that some UK retailers are adopted whereby they charge for plastic bags. It’s not that I have a problem paying for the minimal charge for the plastic bag, but the fact that they are using an environmental concern to boost their profits. The money they charge for the bags might really go towards an environmental cause; but the reality is that they’re passing on one of their…

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Recession: It’s official

Recession: It’s official

So, the official word is out, the UK is in recession for the first time since 1991. The technical definition of recession is when the economy shrinks for 2 successive quarters, and that’s just what happened. Last quarter the economy deflated by 0.6% and in the last 3 months, the economy slowed by another 1.5%. Considering that happened over Christmas, which is supposed to be one of the busiest shopping periods of the year. Granted, the rest of the economy…

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IVA – Get out of jail free?

IVA – Get out of jail free?

I was reading about a financial instrument we have available here in the UK called an IVA (Individual Voluntary Arrangement) which is a formal and legally binding agreement between someone in debt and his creditors. It’s not quite a free ride through because although the terms of may vary, creditors will expect that their prospects of recovering money will be at least as good as in bankruptcy. Creditors also don’t lose their right to bankrupt you if you don’t fulfil…

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Woolworths on it’s final legs

Woolworths on it’s final legs

Woolworths has announced that it’s starting it’s closing down sale in a bid by tthe administrators to try and raise as many funds as possible for creditors as possible. One year shy of it’s centenary there doesn’t seem to be much hope for a retailer who’s name has become synonmous with the British high street. It’s a great shame, but a lesson for all that without continual reinvestment in a brand, failure is the only option. I blame the demise…

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