Phones4U in administration
Discussion
iphonedyou said:
Qwert1e said:
You can't take money out of a business by issuing more shares.
It was a bond issue.Interest rates are so low, plenty of people it seems will buy any old crap if it carries a yield.
While the launch of the bonds was a cynically driven thing IMO, the PE firm behind it knew exactly what they were doing. And the institutional investors who bought them were idiots.
HTP99 said:
The Crack Fox said:
HTP99 said:
I avoided them like the plague, there was just something about them that screamed old school and can't be trusted, I think it was the sales guys that would stand outside in their crappy, ill fitting suits and spiked up hair, trying to grab anyone that wandered by to shout at them about their latest "great deal" it was all a bit amateurish and dodgy salesman and very unprofessional.
All phone shops are like that, aren't they? Ie; bloody awful and staffed by apes.I've regularly had dealings with EE, O2, Vodafone, Three and CPW. In the majority of cases, the staff in store have been pretty helpful, even if customer services were problematic (I had problems with a 3G data dongle via three - staff were brilliant, customer services s
te). The few occasions I called into P4U were enough to put me off. Coupled with their incredibly inane marketing, I can't understand why anyone would ever put business their way.Regardless of the network, there will always be occasions where you know someone who experienced this "dicking about". Mine was with Three, and they'll never again get my business (I reckon they went for unlimited data tariffs as they couldn't get their capped data billing working right). Current contract is with Vodafone and the in store staff have always been helpful and courteous.
toppstuff said:
Yep. BC Capital basically punted out some Irish listed bond issue and sold it to gormless investors at a 10% yield.
Interest rates are so low, plenty of people it seems will buy any old crap if it carries a yield.
While the launch of the bonds was a cynically driven thing IMO, the PE firm behind it knew exactly what they were doing. And the institutional investors who bought them were idiots.
I posed this question earlier, but who would have bought them?Interest rates are so low, plenty of people it seems will buy any old crap if it carries a yield.
While the launch of the bonds was a cynically driven thing IMO, the PE firm behind it knew exactly what they were doing. And the institutional investors who bought them were idiots.
UK pension funds, Irish pension funds, State backed Irish banks, state backed British banks? You would have thought the 10% plus yield would have had anyone with half a braincell running a mile.
Call me cynical but you have to wonder if the investment banks underwriting these sort of bond issues mislead investors, or if the institutional fund managers are getting some sort of kickback from the private equity firms.
Olf said:
markh1973 said:
Explain how this "tax game" you're suggesting will work then?
Someone earlier in the thread was claiming with a bit of authority that P4U were playing walk-away from the negotiations with at least one of the operators. If that were the case you have to wonder why such a negotiation strategy would be credible. Only reason I can think of would be if you had no intention of succeeding.]
Magog said:
toppstuff said:
Yep. BC Capital basically punted out some Irish listed bond issue and sold it to gormless investors at a 10% yield.
Interest rates are so low, plenty of people it seems will buy any old crap if it carries a yield.
While the launch of the bonds was a cynically driven thing IMO, the PE firm behind it knew exactly what they were doing. And the institutional investors who bought them were idiots.
I posed this question earlier, but who would have bought them?Interest rates are so low, plenty of people it seems will buy any old crap if it carries a yield.
While the launch of the bonds was a cynically driven thing IMO, the PE firm behind it knew exactly what they were doing. And the institutional investors who bought them were idiots.
UK pension funds, Irish pension funds, State backed Irish banks, state backed British banks? You would have thought the 10% plus yield would have had anyone with half a braincell running a mile.
Call me cynical but you have to wonder if the investment banks underwriting these sort of bond issues mislead investors, or if the institutional fund managers are getting some sort of kickback from the private equity firms.
audidoody said:
Yep. Me too. Three welcoming letters from Orange - all connected through Phones 4U. Two hours on the telephone to sort it out.
You gotta think that's 2 or 3 people on one admittedly well read forum.How many more are there. How and why did it happen. Was it in a particular area ? Were the staff aware of something and needed to make x connections to get a bonus ?
simo1863 said:
There are also rumours that he paid a few people to take prison time for him for some fraudulent dealings within the early days of the group.... all 'alleged' and not founded whatsoever of course and I certainly don't believe them (for any legal bods reading)
What's the point of that post? totally unfounded nonsense. You might as well go in a pub and print all the gossip you hear.I bought my Moto g from them last xmass. The sales person was a nightmare. Could not get her head around why i was buying it sim free, kept trying to push getting it with a top-up for a network, the when i told her im using it on giffgaff look at me weird. At that moment i knew she had no clue who or what giffgaff was. Poor sales and poor training.
BigsimonY said:
I bought my Moto g from them last xmass. The sales person was a nightmare. Could not get her head around why i was buying it sim free, kept trying to push getting it with a top-up for a network, the when i told her im using it on giffgaff look at me weird. At that moment i knew she had no clue who or what giffgaff was. Poor sales and poor training.
It's because they never sold giffgaff.Also, registering it with a PAYG sim would have got them £35-50 profit for the store whereas buying it sim free counts for about £20 IIRC.
So she was only doing her job.
Thankyou4calling said:
simo1863 said:
There are also rumours that he paid a few people to take prison time for him for some fraudulent dealings within the early days of the group.... all 'alleged' and not founded whatsoever of course and I certainly don't believe them (for any legal bods reading)
What's the point of that post? totally unfounded nonsense. You might as well go in a pub and print all the gossip you hear.Butter Face said:
It's because they never sold giffgaff.
Also, registering it with a PAYG sim would have got them £35-50 profit for the store whereas buying it sim free counts for about £20 IIRC.
So she was only doing her job.
My BMW salesman had never sold Mercedes but he knew enough about them to be able to offer advice on his product.Also, registering it with a PAYG sim would have got them £35-50 profit for the store whereas buying it sim free counts for about £20 IIRC.
So she was only doing her job.
mouseymousey said:
Butter Face said:
It's because they never sold giffgaff.
Also, registering it with a PAYG sim would have got them £35-50 profit for the store whereas buying it sim free counts for about £20 IIRC.
So she was only doing her job.
My BMW salesman had never sold Mercedes but he knew enough about them to be able to offer advice on his product.Also, registering it with a PAYG sim would have got them £35-50 profit for the store whereas buying it sim free counts for about £20 IIRC.
So she was only doing her job.
Giffgaff doesn't compare to most of the standard networks, so I bet if you'd asked him how the Merc compares with a Kia Cee'd he'd have looked at you blankly.
Butter Face said:
Only so he can sell you the BMW as it compares.
Giffgaff doesn't compare to most of the standard networks, so I bet if you'd asked him how the Merc compares with a Kia Cee'd he'd have looked at you blankly.
That's ok to a point BUT when Virgin Mobile first started their offering was wildly different to anyone else's (you would have to google it to be aware as now they are similar ) The thing is we briefed ourselves and looked at counter arguments to it to put to anyone that came in asking for it.Giffgaff doesn't compare to most of the standard networks, so I bet if you'd asked him how the Merc compares with a Kia Cee'd he'd have looked at you blankly.
Butter Face said:
Only so he can sell you the BMW as it compares.
Giffgaff doesn't compare to most of the standard networks, so I bet if you'd asked him how the Merc compares with a Kia Cee'd he'd have looked at you blankly.
There is no excuse for not understanding, or at least being aware of, the competition.Giffgaff doesn't compare to most of the standard networks, so I bet if you'd asked him how the Merc compares with a Kia Cee'd he'd have looked at you blankly.
There are only, what, 8 or 9 networks including the MVNOs like Tesco and Asda. It wouldn't be difficult to know for example that there is no telephone support for Giff Gaff and to try and use to make the sale of a different pay as you go sim.
Crikey, alright chaps calm yourselves down. 
She may have been new, she may have been an idiot.
What I'm saying is that you can't expect someone who work(ed) in P4U who is expected to follow a rigid sales process every time to know everything about all the networks and all of their tariffs etc.
They focus on the core tariffs they sell, what they include etc. I was there 3 years, ran 2 stores and still couldn't tell you what giffgaff's text message rate was, because tbh, it made fk a difference.
We didn't sell them, it made maybe £10 extra GP for the store if you buy a Sim free handset with a PAYG sim (And was normally cheaper than buying it without) so everyone gets offered it, end of.
What I'm saying is that all sales jobs require a certain amount of knowledge of the competition, but I don't read up on the latest offering from Ferarri in case someone walks in my showroom and says 'so how does the Twingo compare to the new LaFerrari, come on hotshot, pop quiz time'
She may have been new, she may have been an idiot.
What I'm saying is that you can't expect someone who work(ed) in P4U who is expected to follow a rigid sales process every time to know everything about all the networks and all of their tariffs etc.
They focus on the core tariffs they sell, what they include etc. I was there 3 years, ran 2 stores and still couldn't tell you what giffgaff's text message rate was, because tbh, it made f
k a difference.We didn't sell them, it made maybe £10 extra GP for the store if you buy a Sim free handset with a PAYG sim (And was normally cheaper than buying it without) so everyone gets offered it, end of.
What I'm saying is that all sales jobs require a certain amount of knowledge of the competition, but I don't read up on the latest offering from Ferarri in case someone walks in my showroom and says 'so how does the Twingo compare to the new LaFerrari, come on hotshot, pop quiz time'
Sheepshanks said:
Butter Face said:
...so I bet if you'd asked him how the Merc compares with a Kia Cee'd he'd have looked at you blankly.
...when I mentioned Kia Cee'd to the salesman selling us a VW Golf he said VW don't sell Cee'd and if we wanted one we should go to a Kia showroom!
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