Simply Scuba in Administration (chapter 11)

[Efka76]

Very sad news. I especially liked to watch product videos presented by that bearded guy. Bought some stuff from them as well.

 

[BlueTrin]

On an event like this only a solid cushion of cash can save you and only for a certain amount of time. And maybe the ability to cut costs when not in operation.

 

[Wathdoc]

This is sad, I have bought items of kit from them over the years, enjoyed the vids and excellent service.

 

[Vitesse2l]

From their marketing and online presence SS seemed to be a big (rich, successful) player. My own business is completely shut down so no income and little govt help - in line with any other firm relying on customers' disposable income. Business interruption insurance refuses to pay out at the moment also. Insurers will be forced to divy up in the end but it could well break them in the process and many other companies will fold in the meantime.

Interesting times.

 

[rob.mwpropane]

Very sad news. I especially liked to watch product videos presented by that bearded guy. Bought some stuff from them as well.

There's just something about the English accent....right? Like the review would be fine for what he does, but then you throw in the accent, icing on the cake...

 

[drk5036]

I hope not, great place to get great deals like;
Mk11 C370 Regulator

Well, that's all it took to entice me!

 

[KenGordon]

From their marketing and online presence SS seemed to be a big (rich, successful) player. My own business is completely shut down so no income and little govt help - in line with any other firm relying on customers' disposable income. Business interruption insurance refuses to pay out at the moment also. Insurers will be forced to divy up in the end but it could well break them in the process and many other companies will fold in the meantime.

Interesting times.

Take a look at their accounts on Companies House.

Btw, imagine what happens if the insurance companies are forced to pay out on business interruption as 20% of the economy switches off - they go bust instantly. Don’t expect anything that way.

 

[BlueTrin]

Agree with @KenGordon ,@Vitesse2l you can read find articles about what happened to monoline insurers during the 2008 crisis.

Insurance companies which are not diversified across different types of insurance premiums will be particularly vulnerable to wide events like Covid when all their customers will file a claim.

 

[Vitesse2l]

Oh I definitely agree about the insurers. I read something earlier saying about 1% of interruption claims might get through and they estimated 1 billion ish total costs. I know that's pie in the sky figures but just considering my trade (dentistry) the totals are mind boggling since almost every uk prectice is shut down. We'll go through the motions of a claim but it's with no great hope.

Just looked at SS on companies house (up to 2018). Outstanding charges and not much gap between in and out. Would need to take a closer look really.

 

[Ripley]

What the f...??
I would surely miss Marc's reviews and Erin's support!
Let's hope they'll find a solution - Fingers crossed.