Is it the tax payers responsibility and are companies going bust a sign of things to come?

Source: My Little Lady

2 Min video- https://youtu.be/CY3J5WzjPDc

· Primark in 2019 made £900 million

· Just announced that it has furloughed 68,000 staff as sales went from £650 million a month to ZERO

· Primark claim to have £1.5 billion of stock in warehouses and are going to write of £284 million from stock not sold

· If we assume that the average salary of £18,000 p.a. the cost to furlough to taxpayer is £81,600 a MONTH

· Why has Primark not got an on-line operation if it did how much stock could it sell

· How culpable are management.

· Why is it the taxpayer that has to bail out Primark’s business decision?

· Victoria Beckham is worth $450 million yet is getting up to £60,000 p.m. for furloughing 30 of her staff

· Meanwhile Cath Kidston does a ‘prepack’ sacking 900 staff but the previous owners Baring Private Equity Asia are buying the brand and the online business which was 20% of the turnover

· How much debt will Cath Kidston now not be paying off — VAT, NI, suppliers?

· Expect to see huge increase in prepacks and companies going in to administration

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