UKC

Planet Fear Demise

It appears that Narrowcast Media trading as Planet Fear will go into receivership this week. The company seems to have folded as a result of several factors: The complex nature of share ownership and the generally tough trading conditions within the outdoor trade over the past 12 months which have been exacerbated by a glut of unsold stock and over-subscribed retail coverage within the UK.

A report in the August edition of the outdoor industry journal 'OCC Outdoor', said that the UK outdoor clothing industry is wasting £140 million worth of profit every year. The survey that was conducted by business analysts Plimsoll Publishing also said that almost a third of UK outdoor companies are making a loss with more than one in three of them losing money for a second year running. 7% of companies are reported to be only making a 3% return on investment (at least 2% less than is available from a high street bank deposit account).

The general trade malaise was further highlighted at the weekend by a report in the Telegraph about the current troubles at Blacks Leisure. Having shut a number of branches in the spring there appears to be further boardroom unrest resulting from the declining share price which has fallen to 272p from a high of 400p in January. More about Blacks on the Telegraph web site



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