Merchants closing Accounts

[Pasty]

Credit is an outdated concept and should be scrapped...

I wouldn't say that. It makes book keeping much easier. If I pay for everything on a card I might have 40 invoices to enter for a month and that's 40 pieces of paper to potentially lose. If I can just book it, I have 1. My accounting system can pull in all bank transactions and reconcile them to invoices but somebody still has to enter the invoices. That's really the only reason I use a credit account.

What might solve that is suppliers providing monthly data files for your purchases in Sage or whatever form.

 

[bankrupt]

I suspect they got a rent free first year, as come the end of the year, they've gone.

That would seem typical, CornishLleyn, of the short-termist dominated CF board.

Load of bankers.

 

[An Gof]

That would seem typical, CornishLleyn, of the short-termist dominated CF board.

Load of bankers.

Presume you meant CW in your post

Although, after consideration, if the cap fits.....

 

[bankrupt]

Presume you meant CW in your post

It's been so much one disaster after another that it's quite difficult to keep up, at my age.

 

[An Gof]

It's been so much one disaster after another that it's quite difficult to keep up, at my age.

So why do farmer controlled co-ops thrive on the continent yet regularly fail miserably here?

 

[Sussex Martin]

So why do farmer controlled co-ops thrive on the continent yet regularly fail miserably here?

Probably because on the continent they use the co-op for everything rather than shopping around to save a couple of pennies.

 

[Dilligaf]

So why do farmer controlled co-ops thrive on the continent yet regularly fail miserably here?

me thinks this is worthy of a new thread.......

 

[bankrupt]

So why do farmer controlled co-ops thrive on the continent yet regularly fail miserably here?

I put it all down to the 'Code Napoleon '.

Land ownership being much more fragmented, it's more advantageous for continental country folk to cooperate and, given that all the big city slickers there tend to inherit their own small slice of the countryside in due course, it's far easier to tap them for cash to bail out the inevitable failures.

https://parispropertygroup.com/blog/2014/napoleonic-code-property-ownership-inheritance-france/

 

[Old MacDonald]

I was told yesterday that, allegedly, the CEO of Countrywide Farmers has been on a salary of over £400k and has been driving either a Range Rover Vogue or a Porshe Cayenne, given the current circumstances, it hardly sends the right message.

 

[Tarw Coch]

I was told yesterday that, allegedly, the CEO of Countrywide Farmers has been on a salary of over £400k and has been driving either a Range Rover Vogue or a Porshe Cayenne, given the current circumstances, it hardly sends the right message.

It's the way of the world, even if the company folds, after being on a salary like that he should be ok for a good while unlike many of the staff below.
I often wonder how many company directors actually earn/are worth their salaries.

 

[An Gof]

I was told yesterday that, allegedly, the CEO of Countrywide Farmers has been on a salary of over £400k and has been driving either a Range Rover Vogue or a Porshe Cayenne, given the current circumstances, it hardly sends the right message.

From 2016 annual report Highest paid Director received £400k in 2015 and £230k in 2016
Doesn't record what car he drives

https://www.countrywidefarmers.co.uk/pdf/annual-report-2016.pdf

 

[Dilligaf]

Now that's an astute question. They should have been out by now but I can't recall receiving any in the post.

It's not as if they require a major stocktake and audit any more

not published yet it would appear.....
https://mutuals.fsa.gov.uk/SocietyDetails.aspx?Number=8151&Suffix=R

do shareholders still get a copy of CF accounts / annual statement of individual shareholding / AGM

 

[Still Farming]

Are CF connected to Countrywide ?

 

[Dilligaf]

Are CF connected to Countrywide ?

Countrywide bought Cornwall Farmers in Sept 2015

https://www.countrywidefarmers.co.uk/Blog

COUNTRYWIDE FARMERS COMPLETES CORNWALL FARMERS ACQUISITION
14 September 2015

Countrywide Farmers has completed the acquisition of the trading business of Cornwall Farmers in Cornwall and Devon.

The deal, which was first announced last month, sees Countrywide take on the operation of all 12 Cornwall Farmers’ country stores in Cornwall and Devon for a total consideration of £6.050m. It is intended that Countrywide will retain the Cornwall Farmers name.

 

[Pasty]

Are CF connected to Countrywide ?

Countrywide bought CF.

 

[An Gof]

Are CF connected to Countrywide ?

Countrywide bought stock and goodwill from Cornwall Farmers and entered into a rental agreement for 10 years (I think) on the Cornwall Farmers stores.
Cornwall Farmers is effectively a property management company vainly hanging on in an effort to meet its pension and shareholders liabilities. It doesn't look good for either of those parties and hasn't for some time. Inept management of the highest order at both executive and non executive levels.

 

[Pasty]

They bought the stock and sold off anything that wasn't in their catalogue at 10% of retail price. I had some crazy bargains. Staff couldn't believe it.

 

[An Gof]

@Dilligaf Cornwall Farmers annual report and accounts arrived in the post today. Not had chance to digest yet.

 

[Dilligaf]

@Dilligaf Cornwall Farmers annual report and accounts arrived in the post today. Not had chance to digest yet.

thanks for update ....
will be very interested to hear your thoughts @An Gof

 

[Still Farming]