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John
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Lowestoft Online Addict
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Posts: 4714
I've learnt to take everything life throws at me!!
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A major Norfolk-based independent electrical retailer has collapsed, it emerged tonight.
Bennetts, which employs about 300 staff in 14 stores, has called in administrators PKF.
The company is due to make an annnouncement in the morning but stores were closed early this afternoon and the company’s website appeared to have a technical problem.
The firm has major stores in Dereham, Norwich, Martlesham Heath in Suffolk, Bangor and Farnham.
Reported on EDP website this evening
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 An Oyster 575 |
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CybertraxUK
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Damn cant believe it, my aunt, uncle and her parents along with my cousin all swear by them. Hope they get bought out and carry on trading - apparently the customer service is amazing.
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pm1967
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unfortunately it's always the good one's who collapse,it's always the money grabbing cheating companies who remain in business
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CybertraxUK
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Will you be affected by Bennett’s administration?
Customers who fear they may be affected by Bennetts’ administration have been told they can call a dedicated helpline for advice. Customers who fear they may be impacted by Bennetts’ administration have been told they can call a dedicated helpline for advice. David Merrygold, corporate recovery partner of PKF, said a helpline had been set up for all customer enquiries. He said the administrators would look at the details of any orders received on a case-by-case basis and offer guidance to customers. He added: “We have set up a dedicated customer helpline to deal with any queries customers may have.”
Any customers who have queries over existing orders are being directed to call a dedicated helpline on 0845 4582000.
http://www.lowestoftjournal.co.uk/news/will_you_be_affected_by_bennett_s_administration_1_827690
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i smell coffe
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to all the staff at bennetts electrical,wake up you will get shafted by the company and adminstrators,and any buy out will only save a small amount of jobs and in twelve months time,they will do the same the directors are proteched by ltd act,and staff will only get £270.00 for every year they have worked with bennetts.
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JustStu
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wow, he can see into the future, but can't spell coffee? 
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I told my girlfriend I had a job in a bowling alley. She said 'Tenpin?' I said, 'No, permanent.'
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i smell coffe
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sorry,about the spelling,at night my medication kicks in ,and with regard to reading the future ,ive been their with another family electrical retailer and its not until this has happened to you.you will know and all this family crap that comes from family company,s and adminstrators,then you know you,ve mugged over 25 years service.
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funkychick
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well obviously you have history, but you cant judge all family businesses by the one that caused you a problem
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i smell coffe
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i think only people this has happen to knows the truth
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funkychick
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I'm not doubting your problem I smellcoffee but not every story is the same and each situation must be judged individually
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i smell coffe
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i respect ,your reply.but british law lets this go on as people hide behind the ltd law
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funkychick
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I cant remark as I have no idea what itd law is so all I can say is I m sorry you ve obviously had a bad journey and hipefully it wont be the same for all people working in family businesses
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CybertraxUK
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Offer received for collapsed Bennetts
Administrators dealing with the collapsed electrical firm Bennetts have received an offer to buy the firm. On Sunday, PKF announced that 228 jobs had been axed at the Norwich-based company. It has 16 stores - mainly in East Anglia but including shops in Farnham, Surrey, and Bangor, Gwynedd. Administrators are now negotiating exact terms with the buyer. All the shops will remain closed and the remaining 57 staff have been informed.
The firm blamed competition from online retailers and increases in rents for its collapse.
http://www.bbc.co.uk/news/uk-england-norfolk-12776712
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paulears
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i smell coffee sadly hasn't a grip on business at all. There are good family firms and bad ones. Once you have a few employees, Ltd companies are the norm. For what it's worth, the Ltd bit protects the 'owners' - their liability is the thing that is limited - and few people would sleep well knowing that a multi-million pound turnover company could fail and they would lose absolutely everything. Directors of a Ltd company simply are employees of the company - although of course their pay is a little different from everyone else's.
It's not English law - virtually every country has their own version of this - it's perfectly normal business practice and without the safety net, people would not be able to have businesses of any great size - it just would not work.
I hope the Bennetts situation is resolved. It's not good for the employees of course - but if they are in difficulties, that's just the way it is.
The 'truth' is not what we're talking about, is it? No doubt the ex-staff feel shattered, but I bet the owners feel it worse! Family firms feel it far more when they let people go, than nameless and faceless big businesses.
EDIT
I see the rumour is that Hughes are going to buy the business?
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Paul Johnson
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CybertraxUK
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Bennetts sale could be completed next week
The planned sale of electrical retailer Bennetts could be completed early next week.
Three partners at accountants PKF were appointed administrators of the Norwich-based firm on March 10 and confirmed they had entered exclusive negotiations with a preferred bidder on Thursday. All 16 Bennetts branches, including 14 in East Anglia, remain closed, with no new orders being taken on the firm’s websites. PKF confirmed 228 redundancies on March 11, with 57 staff kept on for a range of duties including stock taking.
While the identity of the preferred bidder has not been made public, reports by staff suggest it could be Lowestoft-based electronics retailer Hughes, but neither Hughes or PKF were able to confirm this. A consortium of Bennetts directors were also among those seeking to bid to buy the business. Other reports suggested national chain Comet was interested in the business but the company declined to comment.
http://www.lowestoftjournal.co.uk/news/bennetts_sale_could_be_completed_next_week_1_834895
Looks like Hughes vans have been spotted hanging out around the closed stores. Wonder whether they are going to expand the Hughes name, or keep the Bennetts one?!
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paulears
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They've been acquiring other similar businesses for years since Norfolk Radio in the 70s, then Ipswich and Norwich - then moving West into Norfolk and Suffolk - in most cases by buying little clusters of shops owned by small companies. In most cases, they kept open units where they didn't have a presence, but in towns where they already had a unit, they kept the best of the property and closed the units they didn't need. In some towns/cities they kept the centre shop, and also the out of town warehouse style units where they were both economic.
Frankly I am pleased we've kept the Bennetts units in local control - I'd have hated to see another Currys, PC World or similar.
Hughes is still a family owned and run business, the current operation being run by Jimmy and Peter Hughes' sons. Only recently, one of the old long term managers - going back to the Tonning Street days died, and his funeral was quite special - the Directors and staff, current and past all returning - very large numbers, and a marquee and TV screens in the churchyard. I'd suggest if Hughes do buy the chain, it's probably the best option for the Bennetts staff and the area in general.
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Paul Johnson
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Mel
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Looks like Hughes vans have been spotted hanging out around the closed stores.
Probably buying some cheap TV's on a "nudge nudge say no more" type deal.... 
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Dave01
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Bennetts has just been bought by Hughes.
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malcolm
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Thats a good thing. I hope it saves some jobs.
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Forever Yellow
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paulears
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The interesting thing is that for now, it's going to continue operating as bennetts, not Hughes. They must see it as an alternate trading option. I hope it works.
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Paul Johnson
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morty1753
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Bennetts has just been bought by Hughes.
I see that they have only taken over 6 of the stores. Not included is the one in Great Yarmouth.
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"I" before "E" except after "C"..... That's weird
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tedH
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i liked bennets but also like hughes hope all the staff keep thier jobs
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Meryl
Forum Moderator
Lowestoft Online Addict
Gender: 
Posts: 8196
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I see that they have only taken over 6 of the stores. Not included is the one in Great Yarmouth.
I think that they have taken over the ones that don't already have a Hughes nearby.
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morty1753
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I think that they have taken over the ones that don't already have a Hughes nearby.
That would make sense.
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"I" before "E" except after "C"..... That's weird
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malcolm
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Also the one s that were still making a profit.
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Forever Yellow
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Trigger
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When I was in Norwich this morning, I was surprised to see that the Panasonic Shop (Davey Place) was closed. There was a notice stuck on the door - which I glanced at and saw that the closure was something to do with Bennetts.
Saw this in the Evening News: “Norwich’s Panasonic store, which is operated by Bennetts, was also closed yesterday, but could be reopened by the Japanese electronics firm and run by new partners.”
http://www.eveningnews24.co.uk/news/business/jobs_plea_from_bennetts_staff_in_norwich_1_828203
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