Bid TV in trouble - can't pay suppliers, staff

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  • Mikes MikeMikes Mike Posts: 1,822
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    chinchin wrote: »
    Does anyone have a clip of when they were taken off air?

    It was nothing special.

    The presenters were midway through talking on both channels when the fault caption suddenly appeared.

    I would assume the galleries didn't control it and the plug was pulled in their playout suites in the basement to avoid the presenters having a field day on air.
  • steveh31steveh31 Posts: 13,516
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    Interesting comment from Lisa Brash on Shopping Telly Forum.

    The old company wanted to sell the products for less than the p&p and make £2 or £3 from the p&p, the new company wanted to make a slight profit on the products before p&p and reduce the p&p.

    As the customers were still buying at the same price as the old way they couldn't make the profit they needed to.

    In essence they were in a catch 22 they needed to make a profit either with p&p or without it.

    She says she wasn't sure about the new format but the new owners wanted to turn it around.
  • GODDESSGODDESS Posts: 1,304
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    JordanC55 wrote: »
    Lisa Brash looks distraught on Twitter claiming she had no idea.

    Well she must have her head in the clouds. I dont watch Bid (apart from when the ads were on when watching QVC) There have been hints on here and on the shopping telly forum for months that these channels were going under and yet this person who works there says she had no idea.:confused::confused::confused:

    Debbie Greenwood was only there a few weeks and got out as quick as ahe could.
  • RedunitedRedunited Posts: 1,103
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    Bidtv ended up like auction world did.
  • chinchinchinchin Posts: 125,785
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    Mikes Mike wrote: »
    It was nothing special.

    The presenters were midway through talking on both channels when the fault caption suddenly appeared.

    I would assume the galleries didn't control it and the plug was pulled in their playout suites in the basement to avoid the presenters having a field day on air.

    Thanks for that :)
  • Rich Tea.Rich Tea. Posts: 22,048
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    GODDESS wrote: »
    Well she must have her head in the clouds. I dont watch Bid (apart from when the ads were on when watching QVC) There have been hints on here and on the shopping telly forum for months that these channels were going under and yet this person who works there says she had no idea.:confused::confused::confused:

    Debbie Greenwood was only there a few weeks and got out as quick as ahe could.

    Well said Goddess.

    Having read a few comments today from one or two of these presenters from the channel I am having none of it. They are continuing to talk nonsense even off air, professing total wide eyed innocence that anything was wrong. They cannot seriously be being honest even now. Anyone contributing to this thread could work it out, and in other forums too, and we don't even work in the business in question. We could all see that this channel was about to fail, it was clear to anyone watching. Yet we are supposed to believe that it all came out of the blue as a total surprise to them? No way.

    Whilst having genuine sympathy for most of the 229 people that have clearly lost their positions I have little sympathy for most, not all, of the presenters on this channel that will have known full well over the past couple of weeks that they were taking the monumental big P out of potential customers out there. They must have known full well that they were fronting something indefensible, a total sham, when they were NOT SELLING items to people that wished to buy time and time again. Never mind the tawdry nature of 90% of the stock they were attempting to shift and the miniscule stock amounts.

    Any one of those presenters who seriously thinks that what they were doing over the past 2 weeks was acceptable in any way, and an appropriate manner to treat a customer base should get on this thread right now and try and fully defend it and their alleged ignorance which they seem to all be maintaining. We all knew they were on a rapidly sinking ship, and so must they all have done. Simple as that.
  • Steve™Steve™ Posts: 7,286
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    RayRidley wrote: »
    This was posted on the Shopping Telly forum last night anonymously by a Bid TV staffer. The channel is in huge trouble financially (to the tune of £60m + debt, apparently).

    http://forum.shoppingtelly.com/forum/showthread.php?45126-BID-TV-Can-t-pay-creditors-staff-freelancers-and-suppliers

    I dont know how any of them survive.

    You only have to watch a presentation of a 16gb iPad on QVC to realise their discounted price is still more than the price of a new one direct from Apple or from Amazon.

    CVQ price £469, Amazon price £379.:o

    I think the only people who buy from these places are people needing credit to buy it.
  • chinchinchinchin Posts: 125,785
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    Rich Tea. wrote: »
    Well said Goddess.

    Having read a few comments today from one or two of these presenters from the channel I am having none of it. They are continuing to talk nonsense even off air, professing total wide eyed innocence that anything was wrong. They cannot seriously be being honest even now. Anyone contributing to this thread could work it out, and in other forums too, and we don't even work in the business in question. We could all see that this channel was about to fail, it was clear to anyone watching. Yet we are supposed to believe that it all came out of the blue as a total surprise to them? No way.

    Whilst having genuine sympathy for most of the 229 people that have clearly lost their positions I have little sympathy for most, not all, of the presenters on this channel that will have known full well over the past couple of weeks that they were taking the monumental big P out of potential customers out there. They must have known full well that they were fronting something indefensible, a total sham, when they were NOT SELLING items to people that wished to buy time and time again. Never mind the tawdry nature of 90% of the stock they were attempting to shift and the miniscule stock amounts.

    Any one of those presenters who seriously thinks that what they were doing over the past 2 weeks was acceptable in any way, and an appropriate manner to treat a customer base should get on this thread right now and try and fully defend it and their alleged ignorance which they seem to all be maintaining. We all knew they were on a rapidly sinking ship, and so must they all have done. Simple as that.

    I saw Peter Simon selling garden plants and the whole thing looked normal only recently. :confused:

    Not sure what you mean by 'not selling' the items. Please explain. Thanks. :)
  • Rich Tea.Rich Tea. Posts: 22,048
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    chinchin wrote: »
    I saw Peter Simon selling garden plants and the whole thing looked normal only recently. :confused:

    Not sure what you mean by 'not selling' the items. Please explain. Thanks. :)

    Well I'm really meaning Price Drop when I post. Bid was almost looking classy in comparison. It was Price Drop deliberately deciding NOT to sell items to buyers that called in for them. Some price drops allegedly had 9 out of 10 buyers in, and because the final item did not sell above the secret reserve price then they actively chose not to sell any of them at all, rather than at least 9 out of 10.

    So my comments are really only aimed at Price Drop, not Bid. I did think that maybe Price Drop would close, as it has, and they would try to concentrate on just one channel with Bid. Clearly even that was not an option they were in so much trouble.
  • steveh31steveh31 Posts: 13,516
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    Rich Tea. wrote: »
    Well I'm really meaning Price Drop when I post. Bid was almost looking classy in comparison. It was Price Drop deliberately deciding NOT to sell items to buyers that called in for them. Some price drops allegedly had 9 out of 10 buyers in, and because the final item did not sell above the secret reserve price then they actively chose not to sell any of them at all, rather than at least 9 out of 10.

    So my comments are really only aimed at Price Drop, not Bid. I did think that maybe Price Drop would close, as it has, and they would try to concentrate on just one channel with Bid. Clearly even that was not an option they were in so much trouble.

    Everyone seems to forget a year ago they had a third channel "Speed Auction" which is what Price Drop became, an internet site called Price-Dropper and a sales company on Ebay called "Ocean Trading" one by one they fell away, they also had a bingo site.

    I regularly posted updates on their accounts on Shopping Telly which mysteriously they failed to produce for the last two years and you could see from the graph how bad things were.

    http://companycheck.co.uk/company/03877786/SIT-UP-LIMITED/financial-accounts

    They needed Freeview to have any chance of survival and some kind of promotion to promote Shop At Bid in the end they had gone to far to recover.

    You look at that link and tell me you are surprised, you can only be surprised they lasted so long.
  • chinchinchinchin Posts: 125,785
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    steveh31 wrote: »
    Everyone seems to forget a year ago they had a third channel "Speed Auction" which is what Price Drop became, an internet site called Price-Dropper and a sales company on Ebay called "Ocean Trading" one by one they fell away, they also had a bingo site.

    I regularly posted updates on their accounts on Shopping Telly which mysteriously they failed to produce for the last two years and you could see from the graph how bad things were.

    http://companycheck.co.uk/company/03877786/SIT-UP-LIMITED/financial-accounts

    They needed Freeview to have any chance of survival and some kind of promotion to promote Shop At Bid in the end they had gone to far to recover.

    You look at that link and tell me you are surprised, you can only be surprised they lasted so long.

    Strangely the Bid Bingo website is still up and running! :o:o
  • chinchinchinchin Posts: 125,785
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    Rich Tea. wrote: »
    Well I'm really meaning Price Drop when I post. Bid was almost looking classy in comparison. It was Price Drop deliberately deciding NOT to sell items to buyers that called in for them. Some price drops allegedly had 9 out of 10 buyers in, and because the final item did not sell above the secret reserve price then they actively chose not to sell any of them at all, rather than at least 9 out of 10.

    So my comments are really only aimed at Price Drop, not Bid. I did think that maybe Price Drop would close, as it has, and they would try to concentrate on just one channel with Bid. Clearly even that was not an option they were in so much trouble.

    Ah right you are thanks. :)
  • steveh31steveh31 Posts: 13,516
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    chinchin wrote: »
    Strangely the Bid Bingo website is still up and running! :o:o

    Maybe it is run by a separate company using the Bid name like Virgin Media is actually NTL using the Virgin name.
  • JAS84JAS84 Posts: 7,430
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    Yep.

    © 2014 GTECH (Gibraltar) Ltd.
  • tghe-retfordtghe-retford Posts: 26,449
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    chinchin wrote: »
    Strangely the Bid Bingo website is still up and running! :o:o
    New sign-ups get a £5 bid voucher. Hmm, I'm admittedly a bit dim but even I could foresee a problem with their current offer.
  • steveh31steveh31 Posts: 13,516
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    New sign-ups get a £5 bid voucher. Hmm, I'm admittedly a bit dim but even I could foresee a problem with their current offer.

    The company who run the bingo site probably don't even know the company has gone under.
  • DavidTDavidT Posts: 20,261
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    It's all a bit odd. Presumably the new owners backed out. But presenters are talking about "new bosses" so who were they? Who was in charge of the PD relaunch which almost looks like something set up to deliberately fail. If the new owners backed out, why? Due diligence would have been carried out before the CVA offer was made. Anyone could see PD would fail so what did the new owners think they were going to do? None of it makes much sense. Did any of the £6m get invested?
  • steveh31steveh31 Posts: 13,516
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    DavidT wrote: »
    It's all a bit odd. Presumably the new owners backed out. But presenters are talking about "new bosses" so who were they? Who was in charge of the PD relaunch which almost looks like something set up to deliberately fail. If the new owners backed out, why? Due diligence would have been carried out before the CVA offer was made. Anyone could see PD would fail so what did the new owners think they were going to do? None of it makes much sense. Did any of the £6m get invested?

    The new owners tried to reduce the reliance on p&p by making money before adding P&P whereas the old owners made a £1 or £2 less before p&p and relied on the p&p to make a profit.

    They invested the £6m into this new format and new name etc but trying to rely on making a profit before p&p failed miserably.
  • DavidTDavidT Posts: 20,261
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    steveh31 wrote: »
    The new owners tried to reduce the reliance on p&p by making money before adding P&P whereas the old owners made a £1 or £2 less before p&p and relied on the p&p to make a profit.

    They invested the £6m into this new format and new name etc but trying to rely on making a profit before p&p failed miserably.

    So is it a fact the £6m did go in? I assumed it must have all fallen through. Someone made a huge error of judgement and I still can't see the logic of the PD relaunch or how it was supposed to be able to make any money.
  • steveh31steveh31 Posts: 13,516
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    DavidT wrote: »
    So is it a fact the £6m did go in? I assumed it must have all fallen through. Someone made a huge error of judgement and I still can't see the logic of the PD relaunch or how it was supposed to be able to make any money.

    The new owners for some bizarre reason did not see there new plans were a complete disaster.

    From reading some of the presenters Twitter feeds it seems they believed they could turn it around but did not anticipate the big fall in sales since they took over.

    I am sure they believed they could turn it around but it was a tarnished business and if you look at the link I put on earlier of their accounts there really was no way back, with the large debt, the unpaid staff and creditors.
  • DavidTDavidT Posts: 20,261
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    steveh31 wrote: »
    The new owners for some bizarre reason did not see there new plans were a complete disaster.

    From reading some of the presenters Twitter feeds it seems they believed they could turn it around but did not anticipate the big fall in sales since they took over.

    I am sure they believed they could turn it around but it was a tarnished business and if you look at the link I put on earlier of their accounts there really was no way back, with the large debt, the unpaid staff and creditors.

    I looked at them and I should add I'm an accountant and auditor which is why I'm so puzzled. The new owners are experienced in shopping telly so should have known what they were doing. Can't help but think there's more to come out yet.
  • steveh31steveh31 Posts: 13,516
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    When it was announced they were being bought out I commented that I expected them to go off air for a few weeks and totally review the business but instead it carried on as it was until the change to Shop At Bid.

    They should have taken their time and put a proper business plan together not rushed into it.
  • Ryan_MorganRyan_Morgan Posts: 36
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    Who were the new owners and who was brought in to run it? Also, where are the captions being broadcast from? Acton or somewhere else?
  • tedjrrtedjrr Posts: 2,935
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    Who were the new owners and who was brought in to run it? Also, where are the captions being broadcast from? Acton or somewhere else?

    Feltham or William Road.
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