Sad about Flywaters Bellville

[dar]

I was there yesterday. Sad to hear about it and all the best to Sean and co.

[Rendier]

What's happening?

[AB1]

What happend?????

[dar]

They are closing down. Harsh economic times boys. Sean said they are trying to sell their last bit of stock, so guys try and buy a few goods if you have a bit of cash.

[core fly]

It is sad to hear of such news,but I believe it is more than just an economic issue.Its like many hobbies that people start and love ,but the passion fades for many.Its just how it is.Without clubs,regular events,nearby fishng destinations etc. it becomes hard to keep things going for newbies.I do believe that this holds true for many sports/hobbies(Radio controlled planes/cars,archery,Deep sea angling to name a few).

[E.T.]

Everyone is starting to feel the bite of the economical turmoil we are in.

Last night I saw that Barkley's are losing ground in the UK. They own the majority share in ABSA. They bought it a few years back for 33 Billion Rand. Now what would happen to your money if Barkley's folds and brings ABSA down with them?

These are the sort of things people are looking at and it wont be long before people start putting their money in a tin under the bed again.

In the past people use to have money for Caravans, Motorboats, Quads, 2-4 Cars, etc, etc. Not anymore. Do yourself a favor and go to the Supermarket and see what people buy. They just buy whats needed. No luxuries.

Whats the first thing people sell when they are in trouble? The Caravan, the boat, the quads, the rifles, the fishing gear. They get rid of the "Luxuries" first.

People cant really afford luxuries anymore....

This is the reason why some tackle shops barely survives and others close down.

Any business can close down in a matter of 3 months. If there is not enough money coming in you start skipping payments on your shop's rent, then the house and then the car and before you know it you are down R100 000 - R300 000 and before you wipe your eyes out, you have no shop no house and then the bank help you get back on your feet by taking the car too.

This is the sad reality and it happens to alot of people these days. It happened to someone I know who used to own a Pro Golf Shop.

How do you get up again when you lost everything when you are close to 40? If you are in your 20's or early 30's you might have the strength and guts. But what if you are close to 50? Where do you start?

I feel terrible for the guys at Flywaters and I wish them all the best and may whatever you guys feel like taking on after this be a huge success.

[Ian]

True.. I am also a busniss owner....in Stellenbosch and business is extremely difficult. People are definately holding on to their money. I deliver to various Spars, 1 OK and a Friendly Grocer a vast selection of Cakes, tarts and savouries from Gordons bay to Wellington. The orders dropped drasticly. Its not the product.

Talking to my supplier and to the ones I deliver sales have dropped. Meat, fruit & veg sales has gone up with up to 30%. This is money related. Keep in mind this includes the price hike. Thus the amount of sales is maybe still the same but the price is up.

Talking for myself, I am really think twice before I buy more tying material. Its just difficult times.

But if you can keep standing the compitition will become less.

Its bad but a reality.

[Brin Kushner]

No matter what industry you are in, times are pretty tough right now.
The Flywaters guys marketed as well if not better than any store out there and put 100% into the venture. Real pity to see it close down. Sean and the guys will be bounce back, and if anyone out there has any interesting job opportunity or venture i am sure they would be interested.

[Mellow Yellow]

"Last night I saw that Barkley's are losing ground in the UK. They own the majority share in ABSA. They bought it a few years back for 33 Billion Rand. Now what would happen to your money if Barkley's folds and brings ABSA down with them?

These are the sort of things people are looking at and it wont be long before people start putting their money in a tin under the bed again."

Just on the Absa statement I work for them and this was an obvious concern but our CIO did mention this :

"I wish to assure you that Absa is a separately listed company on the JSE and that it is a South African registered bank regulated by the South African Reserve Bank and is unaffected by the financial position of any of its shareholders, including Barclays."

It's actually weird that the current market capitilisation of the SA banks is greater than Barclay's, just shows the k@k that's happening out there, hold on tight to your seats cause it's gonna be a rough ride

[core fly]

These are bad times for us,but i believe they are going to get towards the end of the year....While on the subject of people shopping.Have you not noticed how people will spend R400 to eat out,but moan about buying a half a lamb for R400 that will last a family nearly a month.Or the guys who buys his family ice cream at a palour for R15 each for two scoops,but complains about the price of a R40 TUB of gino ginelli.There are many such examples of the way people spend that pisses me off,especially when they say"money is tight".Unfortunatly I am one of these and it Pi""""es me off.Lately though I would rather have/friend a family tented weekend than spend it on Crap at a mall etc.
Just my observations.