Recesson Hit Our Hobby?

[dave_oddballs]

is this the first sign of recession affecting our hobby??



Britain’s Aquatic Superstore goes into administration with six job losses

7:56am Friday 4th September 2009


A Bolton pet business has gone into administration and six workers have lost their jobs.

Britain’s Aquatic Superstore (BAS) on Tonge Fold Road has been put into the hands of administrators.

Thirty members of staff have been retained by administrators KPMG, who plan to keep the aquatic and reptile wholesaler open as a going concern in the short term.

Around 60 per cent of the company’s business was in the wholesale market, supplying fish tanks and equipment to retailers.

But the drastic drop in consumer spending during the recession meant retailers were buying less — and those who were still buying were squeezing the firm’s margins to the limit.

According to KMPG, Britain’s Aquatic Superstore suffered a tremendous drop in sales volume allied to a fall in margins.

The company was forced to call in the administrators on September 1 when matters reached a head.

KPMG’s Paul Flint and Brian Green were appointed as joint administrators to the company.

The business has been trading for more than 43 years. It markets itself as one of the largest aquatic and reptile product wholesale distributors in the UK.

Its 70,000 sq ft premises includes 30,000 sq ft of retail space which is home to one of the largest angling centres in the North West. It also has more than 500 stock tanks with a wide range of fish.The administrators plan to trade the business in the short term while they search for a buyer.

A KPMG spokesman said: “Unfortunately, six employees have had to be made redundant immediately on appointment, leaving a workforce of 30.”

Mr Flint said: “We are keen to secure a going concern sale of this long established business and would encourage any parties who may be interested in acquiring the business and its assets to contact us as soon as possible.”

The firm is the latest casualty of the recession.

 

[mixmaster jay]

quite a few of us have been on about this on another forum im on it is such a shame that a well established place like bas is going under i just hope the lfs's survive this

 

[three-fingers]

I had ordered a 5'x2'x2' from them which I wont be getting because of this .

Coincidentally got offered a 5' 5" x 15" x 2' for £25 the same day I found out, so I guess this worked out for me lol.

Got 2 large deliveries from BAS in one day at the LFS, they had been holding off deliveries for months so the could send them all at once...not at all practical.

A shame to hear this though, apparently it has really badly affected some people.

 

[keenonfish]

That is sad. This place was great for unusual fish and some of the staff were quite knowledgeable and good to talk to. I am sure the place can be saved though... I hope!

 

[Geoff1991]

My work was hit hard by it, we went into administration in February. But at the last minute, it was bought and now business is booming. You never know what will happen, the staff were ready to start nailing boards over the windows. And now were in the process of a multi million pound refurbishment...

 

[karigupi]

This is such a shame, I hope a buyer is found soon.

Its a sad thing to happen, but inevitable I think unfortunately, there will be more LFS close over the coming year or two.

I think there are things we can do as fishkeepers to keep our LFS there though, if you have a good local shop, support them whenever you can. I am really bad for it myself, I buy my fish from my lovely LFS, but supplies from the internet or petsathome because they are often that little bit cheaper.

I dont want to loose my LFS, I love it there, the staff, the layout, the fish, so I will from now on buy all my supplies from there, they may be a little more expensive but its not their fault, their overheads are higher than online sellers.

 

[shelaghfishface]

yeah i agree with you Kari, if we want to keep our local LFS open then we must support them.. we will be the losers in the end as we will have to pay postage on all our stock, so spend the few extra pence now to save in the long run

 

[indigoj]

We've lost one out this way already - in Heywood 'Aquatic Displays' has closed which is a great shame as they had a nice set up. Now BAS in trouble. *shakes head* Need to win the lottery!

 

[VictorMeldrew]

Its a real shame to see any good lfs close down but there are a couple near me that are so expensive I not surprised people are not going there anymore.

 

[Gill]

Lost 2 in the area, Aquatic Fanatics and Martins.

 

[dthoffsett]

It's the same here in the US. When I was getting ready to move to Wyoming I was excited to see 5 different (true) LFS, only to find out when I arrived that all of them have gone out of business. I'm now left with either Walmart or Petco unless I drive to another city.

 

[smoggs]

same situation up north 3 fish only stores and 1 general pets with a good fish selection have gone in past 2 month, its left me with basicly just P@H to go to, unless i have a drive out

 

[snowflake311]

Here in the US we have pretty much the same thing going on. Our only really good fish store shut down end of last year. Well duh right since we started this whole mess. Freaking idiots in office I never voted for Bush. I'm sorry

 

[Brunell4070]

not bush's fault. : ).

 

[keenonfish]

not bush's fault. : ).

Bush can't be held responsible for not getting the right change off the ice cream man he really is thick as pig doodah. In fact, he has only ever failed at everything from school to air force pilot(?) to president. It is the people behind the 'charming' puppet you gotta look at I am afraid.