Credit Crunch

Just over a year ago I had a rant against Cosi and the state they had gotten into.

Looking back on it I wasn’t too kind. They went into administration and were bought out by a Dutch owned company called Budelpack, and the Maesteg site in South Wales, which the locals still refer to as the ex Revlon plant was renamed as Budelpack-Cosi.
The raw materials suppliers were keeping a close eye out, but things were starting to get going again and product was moving out of the site. The new owners had also invested 2.5 million in bits and pieces of kit, and the workforce I suspect thought that they had a bit of security in their lives.
That was Monday this week.
Wednesday this week, they went into administration
Today, Friday, the layoffs happened BBC local news here 263 people out of the door, leaving a skeleton crew of 126, who if a buyer isn’t found by 19th December will also have to go.

Well I hope a buyer is found, but I’m not optimistic, what with the current economic climate.

I hate this industry at times, Fuck it! I hate this industry a lot of the time, but shit things happening to people who don’t deserve it, I really dispair about.
The galling thing is, manufacturing wise they were a good bunch, same as Cosmetica in Eastbourne who went tits up in August.

Thats the real face of the Credit crunch. Not some politician spouting on. Its people on the Dole at Christmas.