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Topic: Lincraft is Bankrupt!  (Read 1217 times)
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Ashik0
« on: February 04, 2005 10:53:04 PM »

Just letting everone know (though this will only be relevant to Aussies) that a major craft chain, Lincraft, has gone bankrupt. OR so I hear. And, they've got 50% off all fabrics, ribbons and things that are sold by the meter. This is a pretty good deal. They're approaching Spotlight, I think, to see if they want to buy into Lincraft. I think. But I know for sure that the sale is on! It's only on for ten days, though, so get in and buy up!!
(I reckon we should have a topic or something to put up where we've come across great sales or something? and discount codes and that? Ona some other crafty boards I go to, they have that, and it's really handy!..Anyone agree?)
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Voco
« Reply #1 on: February 06, 2005 12:44:40 PM »

I agree.

About every couple weeks I see a 40% off any one item coupon from Micheal's
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kylieultra
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« Reply #2 on: February 08, 2005 03:50:17 AM »

I think it might just be the pre-stocktake sale.

I used to work at Lincraft, and it's leading upto stocktake sale time.

I headed into the store today, and they had all the 'MAKE SURE YOU MARK BACK' letters posted on the cash registers.

*shrug*

It wouldn't suprise me if they have gone bankrupt though, I've seen a lot of changes in the store (Strictly from a customers point of view - I like(d) to shop there too! ie change in target market, and the different things Lincraft offer. Hmm. We shall see.
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purple_hippo
« Reply #3 on: February 08, 2005 04:15:12 AM »

there was an article in the paper a week or so ago about the company going into receivership. who knows what will happen
as for the sale, I went in with the intention of buying 1 skein of embroidery floss....came out with that....some fleece for a scarf...3 different backing fabrics....some hair ribbons.....ahh im a sucker for sales
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« Reply #4 on: February 08, 2005 02:40:15 PM »

I went in the day before yesterday and bought 48 metres of fabric. Bloody hell.

The girl who served me said that they were in receivership and trying to clear their inventory.
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kylieultra
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« Reply #5 on: February 08, 2005 02:55:51 PM »

Really? Hmm. cool.

I should tell me mum.
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Ashik0
« Reply #6 on: February 08, 2005 11:44:00 PM »

What does "recievership" actually mean? But it's good how everything sold by the meter is half price! Means I can buy lots!!
Hehe, Purple_Hippo, I'm the same. I went in to buy a tinsy bit of fabric and came out with two FAT bags. What was it like working at Lincraft, Kylieultra? Is it boring, do you actually get good staff discounts?
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jadey_mcshadey
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« Reply #7 on: February 09, 2005 01:30:01 AM »

I did the same, went in to buy three things, came out with 48 m of fabric, then today, I went back to get the original three things and came out with another 25 m and still no embroidery floss!!

Ashik0, receivership is voluntary, entered into when a company is in trouble, financially, but not dire straits. Essentially, the receiver (usually a company or board) will go into the books and see where the company went wrong and try to fix the problem (in this case, by clearing the huge inventory of fabric).

Receivership is a really positive step and will often help prevent bankruptcy. Fingers crossed, because at the moment, spotlight is way cheaper and much better, imo, and I'd hate for them to have a monopoly and raise their prices.

As for the staff discount, I had a friend who worked at the Miranda store and she only got 10% (same as the lincraft club members, which I think is shonky).
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astarael
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« Reply #8 on: February 09, 2005 02:05:59 AM »

hmm...i might get down there on the weekend...but thats kinda a bummer....lincraft is quite close to me....and the closest spotlight is ages away....or in the city

i dunno whether to b happy about the sale or sad about the fact that i'll have to travel further for supplies
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Ashik0
« Reply #9 on: February 09, 2005 10:16:50 PM »

Same here, Spotlight is AAAges away. I've never met anyone who has a Spotlight close to them, that actually wants to be seen in there Cheesy
Hm, yes, this sale is a good thing, but I do like Lincraft. I knit a bit, and they have a much better range of supplies, but they are very overpriced. And I'd hate for Spotlight to have "the power".
Ahh, Jadey, good explanation on recievership. I hope they sort it all out!
Lincraft Club, eh? I'ma  Spotlight memeber..'ll have to join the Lincraft club, that extra 10% could help a bit!!
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