Firm closing

[Banker]

1 hour ago, Ham_N_Eggs said:

The election was only September. Why would you expect the Government to contact a private business at all? 

I didn’t say I did! However Alf & Clare said they regularly talk to key players in various sectors including food but obviously not to the main bakery who now they’re closing everyone is up in arms!!

[Ham_N_Eggs]

13 minutes ago, TheTeapot said:

I'm still confused as to why they haven't at least tried to sell it. Why just shut?

Maybe they did an nobody would pay out the dough they wanted so now the company is toast.

[Banker]

12 minutes ago, alpha-acid said:

A man down the Pub told me Mrs Duncan has had enough and she wont hand over the firm to the children

The kids don’t want to take over & who would if it’s loss making!

[GD4ELI]

22 minutes ago, Passing Time said:

Well Mrs Duncan is an idiot then

There may be considerable loans to the company. If it's not making money and has little prospect of making money then just sell the site. You'd have to be extra-stupid to take over an operation like this.

[Gladys]

26 minutes ago, Ham_N_Eggs said:

Maybe they did an nobody would pay out the dough they wanted so now the company is toast.

Ham n eggs on toast. 

[Ham_N_Eggs]

4 minutes ago, Gladys said:

Ham n eggs on toast. 

It's the burning issue of day.

[Gladys]

7 minutes ago, Ham_N_Eggs said:

It's the burning issue of day.

Yep, no matter which way you slice it. 

[Manx Resident]

It concerns me that the proposed closure has come as such a surprise to the Government. It is clear that certain departments are not fit for purpose, supposedly working to support businesses and create jobs, and to ensure food security, while seemingly oblivious to the impact of increased costs, higher minimum wages etc on business.

There has been mention of the potential impact on jobs at the Bakery, Mr Bs, Laxey Mills and on farmers. Presumably there will also be an impact on local cafes etc who get RB deliveries?. Will businesses now have to trip down to Tesco for supplies, or do they deliver, and will an increased demand further impact local shoppers?. We might even have a ‘Bread Crisis’ with a rationing of breakfasts, burger baps and sandwiches in TT week?. 

[craggy_steve]

1 hour ago, TheTeapot said:

I'm still confused as to why they haven't at least tried to sell it. Why just shut?

May well be, with a marginal profit history over recent years and facing increased input costs now, that the primary value in the company is its assets, principally the land / buildings. In which case closing the business and flogging the assets could get a better return faster for the shareholders than attempting to sell the business as a going concern. Hypothetically, I have no inside info, but that would be my guess.

[Stu Peters]

1 minute ago, Manx Resident said:

It concerns me that the proposed closure has come as such a surprise to the Government. It is clear that certain departments are not fit for purpose, supposedly working to support businesses and create jobs, and to ensure food security, while seemingly oblivious to the impact of increased costs, higher minimum wages etc on business.

There has been mention of the potential impact on jobs at the Bakery, Mr Bs, Laxey Mills and on farmers. Presumably there will also be an impact on local cafes etc who get RB deliveries?. Will businesses now have to trip down to Tesco for supplies, or do they deliver, and will an increased demand further impact local shoppers?. We might even have a ‘Bread Crisis’ with a rationing of breakfasts, burger baps and sandwiches in TT week?. 

Your concern may be misplaced. AFAIK there had been no intimation of this prior to it going out on social media on Saturday evening. Blame the company, not the government.

 

[alpha-acid]

3 minutes ago, Manx Resident said:

It concerns me that the proposed closure has come as such a surprise to the Government. It is clear that certain departments are not fit for purpose, supposedly working to support businesses and create jobs, and to ensure food security, while seemingly oblivious to the impact of increased costs, higher minimum wages etc on business.

There has been mention of the potential impact on jobs at the Bakery, Mr Bs, Laxey Mills and on farmers. Presumably there will also be an impact on local cafes etc who get RB deliveries?. Will businesses now have to trip down to Tesco for supplies, or do they deliver, and will an increased demand further impact local shoppers?. We might even have a ‘Bread Crisis’ with a rationing of breakfasts, burger baps and sandwiches in TT week?. 

Buy a Bread Maker and set up business yourself

[finlo]

1 minute ago, Stu Peters said:

Your concern may be misplaced. AFAIK there had been no intimation of this prior to it going out on social media on Saturday evening. Blame the company, not the government.

 

I'll bet there were a few bruised ego's having to hear about it on here!

[Numbnuts]

A few things don't make sense about this not least Mr B's on Bathurst street were advertising for staff less than two weeks ago.  But think a son looked after the shops so maybe Mum pulled the rug without him knowing. 

Edited April 4, 2022 by Numbnuts

[ManxTaxPayer]

1 hour ago, alpha-acid said:

A man down the Pub told me Mrs Duncan has had enough and she wont hand over the firm to the children

 

1 hour ago, Passing Time said:

Well Mrs Duncan is an idiot then

Duncan Dough Nut. 

[Banker]

42 minutes ago, Numbnuts said:

A few things don't make sense about this not least Mr B's on Bathurst street were advertising for staff less than rwo weeks ago.  But think a son looked after the shops so maybe Mum pulled the rug without him knowing. 

Maybe the accountant said the losses are too high without large capital injection which the shareholders didn’t want to do but it’s all conjecture until we know from directors