I have been in Sydney since Friday for the Reed Gift Fair and through the course of the weekend have spoken with plenty of newsagents. Several asked me what I thought would happen with GNS.
I have no insights and was interested in their views. Each expresses grave concerns for the future of the business.
One newsagent told me they could not even purchase a third of what they needed in a visit last week. Another said they have stopped buying because of supply inconsistencies.
These and other comments were from newsagents raising the issue. They were not prompted. GNS leadership needs to communicate more with newsagents if they want tor stain their business.
What happens if they were to close up , a hell of a lot of money would be owed to newsagents ..
Ordered 48 Lines 13/09/2016 (Data Connect ex Group Wed 330PM). Received Invoice electronically on the 19/9 at 755AM.
Invoiced for 31 off the 48 lines ordered, the rest out of stock.
% 35 of lines out of stock not supplied.
A proportion of this may be attributable to the Han Jing Line from South Korea going belly up. Not this much though.
Dont know any of the detail, but showing all the signs of the dreaded death spiral.
Am I thinking correctly that the “levy” constitutes share capital in GNS. I wonder what the small print says about that shareholding and value thereof.
Shauns, I have no idea whats going on with GNS but if they go into liquidation the banks will be at the top of the list of creditors and newsagents will be at the bottom. And lets face it not many business’ see the writing on the wall and get out ahead, they invariably keep trading till they hit the wall and get forced into administration.
I’m not a shareholder of GNS but there a plenty of newsagents who are and they would have annual reports that while not up to the minute should give them a good understanding of how GNS is travelling.
Just saw my rep the other day and have just being given an insight as to one of the reason they have closed off cash and carry. And we’ll all be surprised to hear it is theft from some pathetic retailers.
This is also one of the reason that the stock quantity being not correct and we all know from our store level what that means, we won’t be able to make correct decisions on ordering stock.
It is fair to make comment about GNS but unfortunately some of our colleagues let us down. If the removal of Cash & Carry will make them a better business then I am all for it. And I hope us retailers will give them a fair go instead of bagging them all the time.
Headline – gangs of newsagents cause havoc at GNS causing the closure of cash and carry .. lmao . Gotta love reps they love a good gossip
Who is running the joint now who made the decision to close cash and carry and why? I could not pick half the items I wanted on Saturday shelfs look like the place is about to collapse . I believe the warehouse has been sold and we are renting from the purchaser who is about to take back part of the premises for his use, staff are worried about their job security. Where is the board members and are they going to give us some answers , maybe us shareholders should get together and call an extra ordinary meeting and have the board give us some answers we are entitled to as shareholders. I say bring back Ted Rogan to oversee a once very successful business owned by newsagents for newsagents. If GNS folds we will have nothing!
I have just been doing an order for GNS and I am amazed at how many of the products I require are at nil stock.2 out of the 3 crepe paper colours I required were zero All 3 brands of 6”x4” white index cards zero. Chisel tip bic markers zero plus several other popular items that really should be available Am I just unlucky or is there something more sinister happening
Same Ken,
Just trying to put through an order now and ALOT of stuff is unavailable. Strangely enough I received an email from another wholesale stationer last week and I’m going to give them a try instead. Will be interesting to see what their stock and prices are like.
Many out of stocks, but this isn’t a new thing unfortunately. If GNS go under, so does Officesmart. And this is a big part of my business.
Also, I submitted an order yesterday at 9:30am and would normally it would have been picked same day and we would have it this afternoon.
Hadn’t even been picked and invoiced until 10:30am today, so I will probably get it tomorrow afternoon….I have customers waiting on orders.
Not Happy Jan