Slowbee Posted June 30, 2009 Posted June 30, 2009 yep Mr C, agree with the notion that you need to adapt. If WE made the decision to bring alot of stock just before things started going down - thats a tough one to deal with. But closing is usually a last resort after all avenues have been explored. I would like to ask what sprt of other avenues were explored. If people wanted to buy online for cheaper prices should that not have been part of the survival strategy ? oh yes Mr C happy birthday. When you going to eat your cake?
Guest colonel Posted June 30, 2009 Posted June 30, 2009 No cake only coffee and a long ride to work off the cake...
Slowbee Posted June 30, 2009 Posted June 30, 2009 No cake only coffee and a long ride to work off the cake...
Tumbleweed Posted June 30, 2009 Posted June 30, 2009 No cake only coffee and a long ride to work off the cake... in a coffee shop with your helmet on?
porky Posted June 30, 2009 Posted June 30, 2009 Sad that he had to close. He was pretty much the benchmark for high end bike shops. I loved going in there and drooling at the porn he had hanging around. His shop closing has had interesting wripple effects around some of the shops in Cape Town - some good and some bad. Because of the massive amount of money he owed to suppliers' date=' and the fact that his assets have been siezed by the sherrif, the suppliers are going around and calling up debts from all the other shops. Conversely, now that he has closed - some of the other shops are feeling a slight increase in business and his clients now go elsewhere.[/quote'] Hmmm, was it a supplier that put him into liquidation? Could really only be a supplier or the Landlord, and the Landlord has the right to lock the shop and lay claim to the contents if he is unpaid - could be a serious issue for suppliers if they had consignment stock in the shop and didnt get it out in time, the courts will consider it as an asset if the suppliers cant produce some sort of signed agreement that the stock remains theirs. What most suppliers do is invoice it out, knowing they will only be paid if its sold, but then IN A LIQUIDATION the stock is considered Willies and they will not have claim to it. I see big losses on the horizon for a few suppliers. No wonder they are calling in the pennies.
Brakkies Sport Fotos Posted June 30, 2009 Posted June 30, 2009 Hi Guys Can I please asked that we leave the "Willie" topic and rather start something else like "How to survive the current slump in sales in the cycling industrie. I would like to tell you why I request this. firstly: We are talking about someone who was a great SA Champion, a person who lift the cycling scene in the Cape and as you all know, someone who showcase some very top end products. He and his staff now sit at home and (maybe) even read the Hub. Do you know how this postings of us must hurt that guy We all now know that he got problems, so let us show respect amd leave this, its tough enough for hoim, lets not make this harder, just because we wants to speculate. Go on your knees and be thankfull you dont have this problem and thank the Lord that we can still smile and have little troubles in comparrison that he , his family and staff is going through. Lets think about them and respect them We are cyclists, love cycling, dont find joy in his situation thanks guys Oom pops
FanieFiets Posted June 30, 2009 Posted June 30, 2009 OK, i want to add some fuel to the fire. Niiiiice. Anyway, Willie is not poor, he has a high standerd of living. His own assets is most likely in a trust so cant be touched (except as seen as an alter ego). What he is doing now is liquidating before the popo strikes the fan, his own choice. Lots of guys are without a jobs and if he owes you money you will receive about 14 cent in every rand back. Only to say he is going to open again in a couple of months. IMHO - Sell the expensive 4x4, sell some toys, adjust standerd of living, sell beach house. And keep the shop running, people wont lose their way to earn a living, we will still have the service, creditors will get paid (i'm sure they are suffering because of the loss) and he will make more money in the good times. What he is doing is kinda selfish. My opinion is based on someone that was very close to him and willie owes him R 110 000-00 that he bargain on for his own business. I'm not claiming it all to be true, but if it is the case I think it is not cool.
Karl Beaton Posted June 30, 2009 Posted June 30, 2009 OK' date=' i want to add some fuel to the fire. Niiiiice. Anyway, Willie is not poor, he has a high standerd of living. His own assets is most likely in a trust so cant be touched (except as seen as an alter ego). What he is doing now is liquidating before the popo strikes the fan, his own choice. Lots of guys are without a jobs and if he owes you money you will receive about 14 cent in every rand back. Only to say he is going to open again in a couple of months. IMHO - Sell the expensive 4x4, sell some toys, adjust standerd of living, sell beach house. And keep the shop running, people wont lose their way to earn a living, we will still have the service, creditors will get paid (i'm sure they are suffering because of the loss) and he will make more money in the good times. What he is doing is kinda selfish. My opinion is based on someone that was very close to him and willie owes him R 110 000-00 that he bargain on for his own business. I'm not claiming it all to be true, but if it is the case I think it is not cool. [/quote'] I agree with FanieFiets 100%. I very much doubt Willie is going to affected with all this, but other people will dipp out on bucks. How does one justify this I do not know. Sell the toys and settle all at 100c in the Rand .... I know I will not support him if he has ripped anybody off. Have all his guys been paid for June....they need it bad.
Christopher Brunsdon Posted June 30, 2009 Posted June 30, 2009 I never knew or used the guy, but adapt or die is the evolution of retail during tough times. Agree with FF - drop your friggin standards to survive, my wife and I have had to do it with her business. Its the only way we can keep the doors open. My LBS (and a few others) is now competing against CRC so much so that its cheaper to buy my next basket of goodies from him instead - he is adapting and not dying. He has a small shop in a side street with low, low rent. Just him and his mechanic yet they manage to give awesome service and laugh about how busy they are. cbrunsdon2009-06-30 01:23:35
scuzzy Posted June 30, 2009 Posted June 30, 2009 I must agree with Popeye, it started nice, but this thread is getting a funny smell. Wierd how all threads always gets to a point where it turns ugly, although, I must say Pop, most people do seem to have more sympathy than anger.
Poison Ivy Posted June 30, 2009 Posted June 30, 2009 Wierd how all threads always gets to a point where it turns ugly I always wonder why that is, too ....
Marius Posted June 30, 2009 Posted June 30, 2009 I use to think those guys working there were so full of themselves till me and Lilo / CLUB100 Girls did a few rides with them, turned out they are not so full of themselves after all although they are some of the best riders around. anyways, best of luck to the guys now out fo work!
GoLefty!! Posted June 30, 2009 Posted June 30, 2009 the discussion is about WE lifestyle centre. Willie himself is not the topic of discussion nor his lifestyle. that is a separate issue. The shop failed and has been failing for some time. Basic business principals and I think the little incident Where he rode the Argus without entering crashed and had to helo'd out all come to bare on the business failure. None of this makes Willie a bad person so lets not get defensive when no defending is needed. Lets focus on the business. theres a lot that both suppliers and other cycle retailers can learn from this failure. SA consumers I doubt will ever really give a hoot about challenges in the local industry cos price is all that matters. Perhaps we ned to change our mindsets around price and simply support local business because afterall, these folk are our neighbours aren't they. Thats not saying we should be open to abuse, but why make the guys at CRC rish when we can support our neighbour? So why did WE lifestyle centre fail? Was it just a victim of the recession or are there underlying business practice failures that caused this foreclosure? Lots of high end stock (Slow moving stock)Perhaps too clicky with customers i.e. there were a small pool of customers who received the really good treatment and perhaps larer discounts?I think theres a lot of reasons that can be thrown into the pool of blame. Also is there such a thing as voluntary liquidation?. An enterpriose can only be liquidated by a creditor. I'm not too familiar with SA commercial law but I think a business owner file for protection against bankcrupsy sequestration. So perhaps thats whats happended here. Either way, WE Lifestyle Centre has failed and thats sad. Sad for the people involved but perhaps not sad for the industry at this time. The cycle trade needs fewer retailers with higher turnovers, I think its the smaller retailers who operate on shorter payment terms who stand the best chance of survival and carrying the industry through this difficult financial period.
Poison Ivy Posted June 30, 2009 Posted June 30, 2009 I think another thing we have to remember is that there are a lot of other bike shops around that is facing the same fate, very soon. I heard a lot of them are struggling/failing at the moment in this industry.... things are really that bad !
Christopher Brunsdon Posted June 30, 2009 Posted June 30, 2009 I think another thing we have to remember is that there are a lot of other bike shops around that is facing the same fate' date=' very soon. I heard a lot of them are struggling/failing at the moment in this industry.... things are really that bad ![/quote'] Well its true of all industries. I really do feel for anybody loosing their jobs right now - its not nice
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