Can't see how smaller music stores can survive now - and maybe not even some of the bigger stores

fields5069

Peach man was engaging in complete lack of social distancing on the last Fender unboxing vid.

andrewaward

Peach man? New super hero? Here to save us all from the virus via vitamins 

mart

andrewaward said:

Peach man? New super hero? Here to save us all from the virus via the previously unknown vitamin R8

FTFY

crunchman

fields5069 said:

Peach man was engaging in complete lack of social distancing on the last Fender unboxing vid.

Videos can be filmed in advance.

If you watch Lee Anderton's video on Facebook today, he said that the one that went up at the weekend was filmed 2 or 3 weeks ago.

fields5069

crunchman said:

fields5069 said:

Peach man was engaging in complete lack of social distancing on the last Fender unboxing vid.

Videos can be filmed in advance.

If you watch Lee Anderton's video on Facebook today, he said that the one that went up at the weekend was filmed 2 or 3 weeks ago.

Yes true, however he looked very sombre and said this was to cheer us all up. A few days makes all the difference though, this is true.

Barnezy

Spoke to Rimmers today. They said they were ridiculously busy at the moment. Peach also mentioned it on the last vid. I guess people are buying things to keep them occupied durring lockdown. Try buying any gym equipment at the moment. Literally all gone. 

The hit will come in 2 months when unemployment starts hitting people. 

Great move by the Gov with the 80% salary cover though. 

fandango

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Voxman

fandango said:

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Taxes? How do you think the Gov will pay for this then!

Danny1969

It occurred to me today the only way the government will get the money back to pay for all this is to raise income tax .. which means if any of us freelancers and self employed people are still afloat in business when all this is over we can look forward to paying a load of tax to payback a load of money that was never made available to us when we needed it  

fandango

Voxman said:

fandango said:

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Taxes? How do you think the Gov will pay for this then!

Exactly! And we’ll be shafted for the next 40 years.

On another note, one colleague said he’s lost over £70,000 on his pension pot in the last few days, and will likely have to work for an extra 10 years. He’s 60 now. Not a happy bunny.

horse

Danny1969 said:

It occurred to me today the only way the government will get the money back to pay for all this is to raise income tax .. which means if any of us freelancers and self employed people are still afloat in business when all this is over we can look forward to paying a load of tax to payback a load of money that was never made available to us when we needed it  

 I'm still hoping there's going to be something more for the self employed. Like, really really hoping

idiotwindow

horse said:

Danny1969 said:

It occurred to me today the only way the government will get the money back to pay for all this is to raise income tax .. which means if any of us freelancers and self employed people are still afloat in business when all this is over we can look forward to paying a load of tax to payback a load of money that was never made available to us when we needed it  

 I'm still hoping there's going to be something more for the self employed. Like, really really hoping

The word coming out of Downing Street appears to be that they are working on the detail and something will be announced this week.

Voxman

fandango said:

Voxman said:

fandango said:

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Taxes? How do you think the Gov will pay for this then!

Exactly! And we’ll be shafted for the next 40 years.

On another note, one colleague said he’s lost over £70,000 on his pension pot in the last few days, and will likely have to work for an extra 10 years. He’s 60 now. Not a happy bunny.

I'm 62 and I've lost over £150,000 and it's going to get worse. 

Rob1742

Voxman said:

fandango said:

Voxman said:

fandango said:

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Taxes? How do you think the Gov will pay for this then!

Exactly! And we’ll be shafted for the next 40 years.

On another note, one colleague said he’s lost over £70,000 on his pension pot in the last few days, and will likely have to work for an extra 10 years. He’s 60 now. Not a happy bunny.

I'm 62 and I've lost over £150,000 and it's going to get worse. 

It’s awful I know, but hold tight, the recovery could start in the autumn and you may well have regained that within a year or eighteen months of the autumn. It will get worse, but I doubt your actual loss will be that big if you can manage to hold tight. 

hollywoodrox

guitars4you said:

Blueingreen said:

For some retailers the calculation will be that to get significant sales at the current level of uncertainty discounts would have to be massive.  Better to hold on to your stock and hope you can get better prices later.  Probably not pre-crisis prices but hopefully better than you can get now.

It will depend on their existing cash reserves/cash flow and I dare say all stores will be different

It is possible to run a business for many months and not make a profit - But you can't run a business, no matter how successful or profitable it is, for many days without cash 

Cash is king 

I was in smiths today when I went to fetch shopping for parents , they are only accepting card payment now. Hope other shops don’t do this. I know plenty of people who don’t have credit cards or online banking. Some don’t even have internet at home. I have a credit card only for luxury items and could not afford to use it daily , especially as to settle my statement I have to go in person to Santander as I don’t have online banking. I cleared my credit card bill today as it was unsure if they will be able to stay open and I would have had no way to pay my statement next month and been fined. There was an old guy in there with problems who had not got internet banking . I had internet banking but it fucked up and the setup procedure was a nightmare requiring two or 3 passwords for different stages etc. Cash is indeed king 

prowla

The problem is that cash is a great way to transfer germs & nasties.

Maybe shops will ramp up the voltage on their UV forgery detectors to zap the little sods!

Neil

Rob1742 said:

Voxman said:

fandango said:

Voxman said:

fandango said:

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Taxes? How do you think the Gov will pay for this then!

Exactly! And we’ll be shafted for the next 40 years.

On another note, one colleague said he’s lost over £70,000 on his pension pot in the last few days, and will likely have to work for an extra 10 years. He’s 60 now. Not a happy bunny.

I'm 62 and I've lost over £150,000 and it's going to get worse. 

It’s awful I know, but hold tight, the recovery could start in the autumn and you may well have regained that within a year or eighteen months of the autumn. It will get worse, but I doubt your actual loss will be that big if you can manage to hold tight. 

Of course. 

The only time you can lose money is when you come to sell, otherwise it is just on paper.

If you wait the market will come round again.

Danny1969

prowla said:

The problem is that cash is a great way to transfer germs & nasties.

Maybe shops will ramp up the voltage on their UV forgery detectors to zap the little sods!

Original copper coins were very safe, the ions in the copper destroy microbes, be they viral or bacteria .... so does silver although not as well as copper. 
Pound coins contain copper so all in all  coins are dirty but will actually kill microbes on their surface without intervention, unlike stainless steel cutlery and shiny steel surfaces 

Whitecat

Wow, Sound Affects just announced closure of both physical retail *and* online... 

Voxman

Rob1742 said:

Voxman said:

fandango said:

Voxman said:

fandango said:

Barnezy said:

Great move by the Gov with the 80% salary cover though. 

Nice of them to give us our money back after all those taxes they ripped us off for in the first place.

Taxes? How do you think the Gov will pay for this then!

Exactly! And we’ll be shafted for the next 40 years.

On another note, one colleague said he’s lost over £70,000 on his pension pot in the last few days, and will likely have to work for an extra 10 years. He’s 60 now. Not a happy bunny.

I'm 62 and I've lost over £150,000 and it's going to get worse. 

It’s awful I know, but hold tight, the recovery could start in the autumn and you may well have regained that within a year or eighteen months of the autumn. It will get worse, but I doubt your actual loss will be that big if you can manage to hold tight. 

It's OK, I'm an experienced investor and I'm aware that markets will (hopefully) get back once this madness has abated.  I wasn't planning to start drawing down until age 66 state pension age...always assuming I'm still alive & kicking of course!     It's just that at the moment the markets are exceptionally volatile. Yesterday the FTSE100 was -4.5% and today it's up 9%.  A variation of around 14% within 24hrs is just unheard of, but that's just how things are at the moment.