What happens if DSGI went bankrupt?

[fred2009]

ok i know about store policies and techguy reairs because of conversations with staff over the years, and from reading their literature which [name removed] still cannot be bothered to read.

 

but after researching something about DSGI i started wondering.. what would happen if DSGI went belly -up?

 

with share prices falling and news of the former chief executive john clare moving over to a non executive role for Dyson.

 

also with other executives, and management moving to companies such as Sony and Speedy Hire.

 

is this all a sign of the DSGI boat sinking and the head office staff jumping ship before it sinks.

 

who can consumers then go to if DSGI no longer exist?

 

proper factual advice only please. [name removed] dont comment thanks.. no insults.. nothing..

 

i beleive patdavies seems to know more about law and most others do too so looking for advice as i can see big issues if my suspicisions become fact that DSGI are drowning

 

jonni2bad. if he can insult my spelling and grammer using my name then i can use his name.

[blueskies]

For the moment I will ignore the petty dispute you seem to be having with another member.

 

If a company you have a contract with goes into receivership and they owe you money (or a refund for a service not provided) the you join the list of other creditors to whom the company owes money. As an individual you come a long way down the pecking order so unfortunately are unlikely to receive anything.

 

The CAG moderating team will not tolerate direct attacks on any other member. This is the second time I have had to take action over this, and I'm sure my colleagues have probably taken action as well. If it continues then consideration will be given to limiting your access to this forum.

[spikeachu]

I hope PC World pay you overtime for the PR that you put in on this board.

[fred2009]

I hope PC World pay you overtime for the PR that you put in on this board.

 

i wish they did pay me, even a penny.

 

i originally came on here because i enjoy my visits to the store i live near, the staff are friendly and seem to know more then most other retailers. maybe because the staff i speak to have been employees from day one and so they have learnt a few things over the years and not the untrained shelf stacker that only been working for pcworld for 2 months just at weekends like most retailers.

 

i remember the good old days where computers used to sell for a minimum of £900 and made companies about £200+ profit. the days where there was enough money to emplyee english call centre staff and where computer cases and parts where made of proper high quality metals. the days where employee's had a reputation to uphold where refunds means a loss of their commision.

 

those days have gone. prices have dropped and to survive retailers of all types have had to take paycuts to there store staff, profit cuts to their products and had to ship their call centres to india.

 

and everyone blames the retailer. i just hate everyones anger at the shops and companies when really it all boils down to government and to creditors.

 

if mortgage levels were lower, governements minimum wage was higher then the consumer would not penny pinch so much to want everything for nothing.

 

companies would love to meet customers expectations and do everything to keep a customer loyal. but at the costs that customers are not willing to pay, this will never happen.

 

end of my rant.

 

thank you.

[fred2009]

back to my point.

 

if DSGI was to go belly up what would happen to consumers SOGA rights. who would they go to. has DSGI set up a trust or a entity who can deal with issues or would consumers have nothing but a court case against a liquidated company, which means their faulty product will never get sorted?

 

i know consumers cannot just ask for a refund or go to court asking for money because the company simply does not exist. i know they have to have a faulty product to have a legal case.

 

but exactly who can they go to if dsgi disapeared off the face of the earth.

 

employees at my local store looked a bit worried when i asked them this question as if i knew something they didn't. i hope i have not scared any of them to jump ship too incase they now fear redunduncy because of my question. but they simply have no idea of the companies back up plan if things go bad.

 

anyone, especially people admitting they work for dsgi know the answer?

[gyzmo]

If the purchase was on credit, then the creditor can be held liable.

Otherwise it is the estate (or rather the business world equivalent).

There may also be the ability to go after the manufacturer.

In absence of the ability of the above three, then there will be no-one, as the only other body able to be pursued will no longer be in existence.

[fred2009]

In my business i have put a small percentage of my profits into a trust to cover such a situation as a liquidation of my business. i have promised myself that i personally or the business itself will not access the monies. and put safeguards that it will only be used AFTER liquidation.

 

as part of the terms and conditions of sale of my products i have stated that there is a trust setup to look after issues in the unlikely event of my businesses demise. with contact details of the solicitors office that will deal with it.

 

over the years this trust has grown to quite a large amount and i beleive that the monies inside can definetly cover costs of all issues for my customers from 6 years ago until now.

 

personally i will never gain any money from this ever, the only possible people that will are the solicitors who will gain any left overs. but only 6 years after my businesses demise. plus i have placed stipulations that they cannot withold monies from the account for personal or corperate gain.

 

dont ask me about the legal in's and outs of it i just know the basics where i have wrote out the terms of the trust and got the solicitors to sign and my judge friends to witness.

 

i personally had the bad side of having a faulty computer from TIME just as they went belly up so i seen the consumers side of companies disappearing off the planet.

 

especially with the high media coverage of the fairpacks customers i have seen friends and rivals setting up outsider trusts which can only be accessed by a solicitor in the unlikely event of their business going down.

 

i just simply want to know have DSGI got anything to look after their customers?

[rscott101]

30 seconds looking at PCWorld's website shows that their extended warranties are backed by an independent trust fund, in case of company failure.

 

Customers without these would have to fall back on any protection from credit companies or manufacturer's warranties..

 

Not as perfect a situation as any of your customers fred2009, but, in my humble opinion, a fair risk/cost balance for the customers.

 

As far as I know, John Lewis, Debenhams, etc also don't have any sort of additional financial backup for customers either..

[fred2009]

can non extended warrenty customers legally get monies from the trust that is set up?

 

I have spoken to the manufacturers of the products that i sell and they have informed me that after the warrenty period is up they have no more ties to the product. so unless it is under the warrenty customers cannot get it sorted via them.

 

well without paying the full repair or replacment costs.

 

i guess if my suspicions are correct then there are going to be even more posters on here asking for advice about their rights.

 

that is why i am trying to find advice about a actual path with a positive result for consumers if the worse happens.

 

- idea to moderator or website owner -

making a guide of telephone numbers and addresses of the top creditors, manufacturers to save time and hassle for consumers.

just in case.

 

i believe that with the monies and profit the company have means that it may take years to go bankrupt but i believe in being prepared

[gyzmo]

Oh for cryin out loud, how about waiting until something actually happens - if it ever does. The way you're going on you'd think world war three was about to start.

 

Is this some kind of plot to get everyone to follow your "advice" on taking goods back?

[spikeachu]

DSGi is an expanding company, branching out into Europe and plans to extend beyond. They have fingers in many pies, not just the Currys and PC World stores you see.

 

For those that are concerned, their financial report is here, http://www.dsgiplc.com/Uploads/%7B5aad56ce-5794-4928-8d1a-4923e120929d%7D/DS2393_Report_FINAL.pdf

 

With a group turn over of almost £8,000,000,000 and almost £300,000,000 profit, I personally think you're on some scaremongering mission.

[fred2009]

DSGi is an expanding company, branching out into Europe and plans to extend beyond. They have fingers in many pies, not just the Currys and PC World stores you see.

 

For those that are concerned, their financial report is here, http://www.dsgiplc.com/Uploads/%7B5aad56ce-5794-4928-8d1a-4923e120929d%7D/DS2393_Report_FINAL.pdf

 

With a group turn over of almost £8,000,000,000 and almost £300,000,000 profit, I personally think you're on some scaremongering mission.

 

just to note. 8,000 million turn over with only 300 million profit. actual figures are 7929 mill with 295 mill profit which works out as 3.72% profit... again 3.72% profit. but thanks for proving that you are great at exadurating the truth, adding 5 million profit to the company and 71 million pounds of sales. WOW. now for the truth!!

 

actuall figures for 06/07 year are 7929 mill with 295 mill profit which works out as 3.72% profit... again 3.72% profit.

 

look at the 05/06 year 6984 mill with 311 mill profit which equals 4.45% a 16% drop between 05/06 and 06/07.

 

think of it as your pay. in 05/06 you earned £445 a week in pay, this year you earn just £372 a year. with another decline next year of the same amount (£313 for 07/08 (prediction only)) would you want to be around for 08/09?? or would you already be looking for another job.

 

DSGI EXPANDING???

 

hasnt DSGI tried moving into a few european countries and they flopped? italy and france for instance...costing them.

 

nice to see you are reading from the DSGI hymn book but ever tried reading the news rather then word of mouth.

 

its publisized that the share prices have been dropping one because of the vista failure. and the other because of the flops in trying to expand into other countries. yes there are some successful expansions in some countries but failures in others.

 

also with it selling off devisions of the company such as :

On March 29, 2007, DSG International Plc sold its personal photography business, Primaphot, part of the FotoVista Group. On April 28, 2007, the Company sold its Genesis Communications (Genesis) business. also its "the link" stores "dixons" stores.

 

if it is such a success why are the news always reporting flops and devision sales?

 

yes DSGI don't just rely on dixons online, currys and pcworld. there is also pixmania and macwarehouse and so many other companies. but read between the lines. read and research some more.

 

maybe my presumptions are eventually going to be proved wrong and DSGI turn around into a huge success. with the new chief executive to join in december he may change everything.

 

but isnt it best to get some facts and learn worsed cased scenarios incase the worse happens so you lot are fully prepared to offer proper valid advice should the need ever arise.

 

and gyzmo. yes lets wait till the worse case scenario happens. lets not bother researching and learning things. lets be lazy and learn nothing and then when all goes wrong for the consumer lets then argue about it.

 

how about be helpful and just research something. learn something. lazyness is no excuse. consumers want advice so i personally would rather research and know both sides of the story and be prepared then to just leave it and argue the point at the last minute.

 

you on the other hand would prefer to leave your faulty product where it wont get fixed ASAP. and leave it there and then argue the point at the last minute.

 

consumers dont want to wait till the worse case happens they want to know advice and support before hand. they want to know options..

 

let me guess you have no clue what consumers can do if DSGI go belly up. so rather then being helpful now by seeing if there is any trusts or side companies setup. you simply want to wait till it goes belly up and say the words "sorry there is nothing you can do" and try making yourself look good by saying they legally have no options as there is no company to file small claims against.

 

thats not research thats not helpful. thats lazyness

[patdavies]

Please post in English fred - it's so much easier to read.

[gyzmo]

and gyzmo. yes lets wait till the worse case scenario happens. lets not bother researching and learning things. lets be lazy and learn nothing and then when all goes wrong for the consumer lets then argue about it.

 

I shall now then go dig my nuclear bunker on what little land is left becasue of global warming and ever so rising sea levels. Oh wait - ain't seen any bombs yet and, oh gosh, look at all that land available (that Tescos hasn't bought yet).

 

Try waiting for some proper evidence to come along

[fred2009]

I shall now then go dig my nuclear bunker on what little land is left becasue of global warming and ever so rising sea levels. Oh wait - ain't seen any bombs yet and, oh gosh, look at all that land available (that Tescos hasn't bought yet).

 

Try waiting for some proper evidence to come along

 

ok be lazy gyzmo. shame you are not good at research enough to look for evidence yourself or to look at warning signs.

 

like you said you would rather look for the bombs to take action then to be told they are on their way.

 

if you were in the army and would wait for the bullets to start firing in your direction before hiding and wearing bulletproof vest it will be too late.

 

in life its best to be prepared.

 

maybe when you have sex you dont wear protection, you simply hope for the best and wait till the woman is pregnant before realising it may have been better to be prepared.

 

the only evidence of a company going belly up is when they go belly up. no company would EVER release to the media a statement that says "in 6 months we are going belly up". so do some research, learn something. do not think you know everything.

 

you have to learn things, research. in your posts i have yet to see much proof from your self that you can show evidence apart from copying and pasting SOGA.

 

you show no proof of knowing the whole story, you simply insult people you cant understand rather then asking them genuine questions to fully understand.

 

you will never get far in life, you just rely on others to back you up to make you look good.

 

i do not care about you insulting me. i just care that this website is causing hassle and stress for people where hassle and stress is not required. my original post about what consumers should do when things go wrong will result in a remedy and because they are dealing with trained departments, means it minimises consumers stress and reduces waiting times.

 

yes in a perfect world all products should be swapped over instore for a new product while consumers waits and then the retailer deals with the faulty product themselves later. but this is not the case. the world is not a perfect place. so deal with it and accept it. the advice is to help consumers get a result in the imperfect world.

 

the seller (retailer) has the right to remedy it at the least costly solution to them. so don't think demanding instant swaps on everything is your right. do not think that if everyone boy-cotts or demands it will change the world. it will simply make things cost more to buy. and eventually make businesses go bellyup. hense time/computershop, and such others as shown in the past.

[fred2009]

Please post in English fred - it's so much easier to read.

 

try reading properly. using brain power. english is a diverse and open language. people in different parts of the country speak and write in different ways.

 

for instance, people from manchester use different words then people in cornwall. then of course there is cockney. and other great diverse parts of the english language.

 

how about expanding your knowledge and asking questions so you can understand people instead of being blinkered and hiding in an office and thinking everything is white. not everything is white, it can also be black

[gyzmo]

Fred, you miss the point. You only need to prepare for something should there be a likely chance of it happening, or if it's effect would be so profound that it would be silly not to prepare (hence the reason for mandatory motor insurance and the likes). And by the way, I am using examples here - something which I feel you should look up in the dictionary.

 

I would prepare for WWIII if:

A: Some kind of international crisis was going on (there isn't - merely squabbles) that would give rise to war

B: There had been an official declaration of war against the UK (unless the government is being really snidy, I don't think such a thing has happened)

 

Just by the way, should I prepare now for any of the following?

meteor strike, winning the lottery, being kidnapped by terrorists (not many in my part of Manchester or Wigan, but you never know), being struck by lightning, having an aeroplane crash on my house / in my immediate vicinity, rising tides (again not likely given Manchester's distance from the coast), being bitten by vampires (can you disprove their existence?), being inflicted with plague / ebloa virus or some other nasty disease (not very prevelant in Manchester or wherever else I go), running out of oxygen during a manned mission to Mars (you never know - I may one day be accepted into NASA), being eaten by zombies (there's so many films about them, they must exist), my laptop becoming self-aware and taking revenge on me for having having to put up with displaying your posts?

 

If the answer is yes to any og them, could you please advise as to how I should prepare (should keep you busy for a while and hopefully keep you off these forums)?

[demon_x_slash]

Just by the way, should I prepare now for any of the following?

meteor strike, winning the lottery, being kidnapped by terrorists (not many in my part of Manchester or Wigan, but you never know), being struck by lightning, having an aeroplane crash on my house / in my immediate vicinity, rising tides (again not likely given Manchester's distance from the coast), being bitten by vampires (can you disprove their existence?), being inflicted with plague / ebloa virus or some other nasty disease (not very prevelant in Manchester or wherever else I go), running out of oxygen during a manned mission to Mars (you never know - I may one day be accepted into NASA), being eaten by zombies (there's so many films about them, they must exist), my laptop becoming self-aware and taking revenge on me for having having to put up with displaying your posts?

 

 

Seriously though, I could help you out with all of those scenarios. Except the Ebola, if you get that, you're doomed. Sorry. Don't sneeze my way, will you?

[Michael Browne]

The only one I could help you out with is winning the lottery, the rest you're on your own, mate

[patdavies]

try reading properly. using brain power. english is a diverse and open language. people in different parts of the country speak and write in different ways.

 

for instance, people from manchester use different words then people in cornwall. then of course there is cockney. and other great diverse parts of the english language.

 

how about expanding your knowledge and asking questions so you can understand people instead of being blinkered and hiding in an office and thinking everything is white. not everything is white, it can also be black

 

But most of them can punctuate and use capitalisation; or string a sentence together with a reasonably correct construct. Is was that to which I was referring - not vocabulary (or lack of)

[fred2009]

Fred, you miss the point. You only need to prepare for something should there be a likely chance of it happening, or if it's effect would be so profound that it would be silly not to prepare (hence the reason for mandatory motor insurance and the likes). And by the way, I am using examples here - something which I feel you should look up in the dictionary.

 

I would prepare for WWIII if:

A: Some kind of international crisis was going on (there isn't - merely squabbles) that would give rise to war

B: There had been an official declaration of war against the UK (unless the government is being really snidy, I don't think such a thing has happened)

 

Just by the way, should I prepare now for any of the following?

meteor strike, winning the lottery, being kidnapped by terrorists (not many in my part of Manchester or Wigan, but you never know), being struck by lightning, having an aeroplane crash on my house / in my immediate vicinity, rising tides (again not likely given Manchester's distance from the coast), being bitten by vampires (can you disprove their existence?), being inflicted with plague / ebloa virus or some other nasty disease (not very prevelant in Manchester or wherever else I go), running out of oxygen during a manned mission to Mars (you never know - I may one day be accepted into NASA), being eaten by zombies (there's so many films about them, they must exist), my laptop becoming self-aware and taking revenge on me for having having to put up with displaying your posts?

 

If the answer is yes to any og them, could you please advise as to how I should prepare (should keep you busy for a while and hopefully keep you off these forums)?

 

ok this is a forum about consumers rights. this thread is about consumers rights about pcworld. i dont care about helping you understand how to prepare yourself for all that lot, because simply unless you have signed up to the army or actually got accepted to NASA then there is no point. but preparing yourself for actual events that might happen rather then your imaginary scenarios that wont is being helpful.

 

again stick on topic a question was asked about what would happen if pcworld went under. it is a valid question and some consumers would like to know the answer just in case. if you do not want to research and offer advice on this topic then simply dont answer at all.

 

do not insult or use imagination or try changing topic to make yourself look big and ... well i wont continue by insulting you.

 

if you dont know if there are any legal rights after companies go belly up or do not know if the company in question has anything set up to aid consumers if the worsed happened. and you are not willing to find out the answer. then do not answer at all.

 

thank you.

 

well DSGI as a whole only making 4% profit on average and the year 06/07 seeing this profit decline below 4% can be considered a worry. it is a big international company and if they are losing nearly 1% a year in profits. work out how many years until it hits zero.

 

also if the company was a one man band then preparing and researching would not be as important because the amount of consumers would be very little in comparison.

 

again this is a multi-national company which means there is a high number of consumers. so there may be a high number of consumers that want to know if their product they bought this year wil be looked after in 4 years time (if proven faulty from production).

 

dont reply with an insult. if you dont want to find out if pcworld have a backup system inplace to look after consumers or you dont think it is required to investigate because you beleive that there is no risk of DSGI going belly up then do not reply.

 

only reply with a valid answer. anything else is just going to be considered as continuing an argument which by now you will realise i never quit an argument.

 

show your maturity by stopping the argument. only reply to posts with ONTOPIC answers. spelling and grammar is not on topic, it is an insult