Fishing Republic - The End?

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#41
Went in to the Portway (Redditch) store last weekend and was really surprised at the lack of stock on display. They were ok for sundry items but not a lot of main line major products. Was looking to compare Daiwa reels with a view to buying a couple but tyey only had a couple of TDMs and a Ninja. Perhaps this is explains it. Might pop in tomorrow to see if there are any bargains.
 

Trogg

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#42
If anyone is after a bargain new seatbox FR have now reduced the price of a new Matrix S36 box down to £210.
Looks like they've sold out of the seatboxes...but then again when you get an email with a massive picture like this in it...a lot of people are going to go and have a gander!!

3407aba8-4bf8-4215-a039-4059d6200a1b.jpg
 

Dave

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#43
I can't understand why any business wants to give tackle away at cost price, especially after last year's debacle.

It does no one any favours, robs the retail industry of pre-Christmas profits, and barely covers running costs when all things are considered.
 

P_C

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#45
Would you really buy anything expensive from their website? They could close at any time.
 

vfr400

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#47
Looks like they've sold out of the seatboxes...but then again when you get an email with a massive picture like this in it...a lot of people are going to go and have a gander!!

from what I can gather from the net there was only one for sale...
 

Davebhoy

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#48
I can't understand why any business wants to give tackle away at cost price, especially after last year's debacle.

It does no one any favours, robs the retail industry of pre-Christmas profits, and barely covers running costs when all things are considered.
cashflow to make it to christmas.

they've got a duty to the shareholders and their staff to try and trade their way out of their problems.
 

Millers Thumb

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#49
Ive never been able to afford expensive tackle,i buy the best for my budget so all i can say is while ever FR are offering me 80% off as a customer im as happy as Larry, and long may it continue. (y)(y)(y)
 

Peter

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#55

Tackle & Guns
30 November at 14:10 ·

Is Fishing Republic about to be sold?

Rumours continue to surround the future of Fishing Republic - with the latest stock exchange release adding further fuel to the fire:
"Fishing Republic PLC said it is considering the disposal of some or all of its operating business as a result of a "difficult trading environment".
At the end of September, the company had said its pretax loss deepened to GBP2.5 million from GBP117,544 the year prior, after revenue fell to GBP3.4 million from GBP4.1 million the year before.

In mid-October, Fishing Republic shares were suspended from trading on AIM after some major shareholders were "no longer willing to provide further short-term financial assistance" to the company.

Then in mid-November, the AIM-listed angling equipment retailer said it was considering an equity raise to support working capital needs.
On Friday, Fishing Republic said the fundraising activity is ongoing, while the company's advisers are also in discussions with some existing shareholders to assess their support for providing short-term finance.

However, the company said there is no guarantee that it will be able to conclude the equity fundraise or raise sufficient funds for its immediate and future working capital requirements.Therefore, a material uncertainty regarding Fishing Republic's financial position continues to exist, it said."

T&G understands that there are three parties interested in the group... one being an existing chain looking at taking some stores, one, a management buy out, and the third being a large foreign retailer looking at buying into the UK. We will of course report back as soon as fresh news becomes available.
 

Simon R

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#56


T&G understands that there are three parties interested in the group... one being an existing chain looking at taking some stores, one, a management buy out, and the third being a large foreign retailer looking at buying into the UK. We will of course report back as soon as fresh news becomes available.
The existing chain can only be Angling Direct I'd have thought - buying the stores which fill the gaps in their current network.

The large foreign retailer could be Askari?
They're expanding their network of outlets on the continent and currently operate on a similar basis to Fishing Republic - ie a central warehouse / hub distributing products to internet customers or out to the individual shops.

Simon
 

Simon R

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#58
Is that the collective noun for a group of maggotdrowners?

That'a also the collective noun for octopuses "a consortium of octopuses"

Simon
 

Peter

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#59
One way or another this whole sorry saga doesn't bode well for our sport in the medium to long term in my opinion.:(

If we end up with 2-3 big chains dominating the marketplace with their buying power we will see even more small independent shops going to the wall along with some of the smaller tackle brands as well. The big chains will increasingly push their own brands (such as AD's Advanta kit) as a way of maximising their profit margins which will inevitably hit the smaller brands targeting that sector themselves.

The only way I can see this changing is if the major brands take a stand in the way they allow their products to be marketed and make a conscious decision to stop offering large volume discounts to the big players and recognise that discounting of their products can seriously damage the value of their brands. In this respect the example to follow would be that of Drennan who supply all account holders at nett price regardless of size thus maintaining the value of their brand.
 

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