Maplin "in talks to sell the business"

[grumpydoc]

Found this reference on El Reg

Mostly blaming over-greedy venture capitalists.

http://www.coppolacomment.com/2018/03/the-sad-story-of-maplin-electronics.html

[floobydust]

Found this reference on El Reg

Mostly blaming over-greedy venture capitalists.

http://www.coppolacomment.com/2018/03/the-sad-story-of-maplin-electronics.html

Yes, it was profitable... just burdened with "extortionate" charges (16.5%) on financing?!

"The January 2005 accounts show that an operating profit of £1.84m was wiped out by £11.74m of interest charges, resulting in a statutory loss of £9.6m. "
"By 2012, the net debt had grown to nearly half a billion pounds, of which £68.9m was accrued interest, and the shareholders' deficit was £320m. Montagu Capital's extortionate charges had turned a healthy growing company into a zombie. "

[bd139]

Jesus Christ. I know someone who makes that profit with six staff.  If you accept VC funding without understanding the trade offs then you’re mismanaging the company.

[Cerebus]

They don't call 'em Vulture Capitalists for nothing. When they're gone all that is left are the bones, picked clean.

[stj]

i noticed with something i wanted to buy that they put the price up 25% the day before the announcement!!

does anybody know the real name for a 6.5mm power-din plug??

[Ian.M]

If you accept VC funding without understanding the trade offs then you’re mismanaging the company.

BOHICA - without lube   

@All,
It would probably be useful to UK members if you post if your local store is doing deep clearance discounts on useful stuff like tools, test equipment,  components etc.  Don't forget the store location.     

I've seen reports that the Exeter store is doing a 50% off stock clearance - probably not deep enough to be irresistable.'

[bd139]

Always compare to CPC pricing as well. Free delivery over £5 ex VAT as well with CPC. It's probably cheaper to get it delivered to your door with CPC than buy anything in the Maplin sale even if it's 75% off.

[grumpydoc]

Always compare to CPC pricing as well. Free delivery over £5 ex VAT as well with CPC. It's probably cheaper to get it delivered to your door with CPC than buy anything in the Maplin sale even if it's 75% off.

As a business, of course, that has been one of Maplin's biggest problems.

[grumpydoc]

Looks like the winding down sale has started - the website has 10% off everything, 50% off components, varying discounts on other lines.

[bd139]

So still more expensive than CPC 

[grumpydoc]

So still more expensive than CPC 

Maybe, maybe not - Maplin R Pi 3 £29.59 if in stock at your local store vs CPC which wants £35.03 currently

The catch is there aren't any unless I want to drive 90 miles to Llanelli, which would rather negate the saving, but if you live in Llanelli it's a good deal should you a) want an R Pi and b) be prepared to get down to the Maplin store before someone else grabs the one which is left.

In any case I think TopLoser has a few left at considerably less.

[bd139]

It's not worth 5 quid to walk down the road these days.

[stj]

you check online, the webshite says "3 in stock",
you drive to the shop,
they cant find them anywhere.

that's a very old and ongoing problem with maplin.
i used to phone them and ask them to check the actual shelf/bin first.

[grumpydoc]

you check online, the webshite says "3 in stock",
you drive to the shop,
they cant find them anywhere.

that's a very old and ongoing problem with maplin.
i used to phone them and ask them to check the actual shelf/bin first.

+1

In fact I think the stock levels are just totally fabricated.

It will be sad to see them go and all the more so if the underlying reason is that they got bled dry by greedy venture capitalists. Real people, many of them not at all well off are going to loose their jobs because someone worked out how to feather their own nest using "imaginative" finance schemes.

[nfmax]

My nearest Maplins is just up the road in Salisbury - maybe not just now