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HamzaLH

$A sends Aquarium Industries belly up

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FROM THE AGE ...

http://news.theage.com.au/business/a-se ... -6sc7.html

Aquarium Industries has gone belly up after the slide in the Australian dollar and falling consumer spending hit the bottom line of the country's biggest wholesaler of ornamental fish.

Aquarium Industries appointed Greg Keith and Trevor Pogroske of Grant Thornton as voluntary administrators, the Melbourne-based company said in a statement on Friday.

The falling local currency hurt the business by making it more expensive to import fish, which made up 60 per cent of the business.

Customers had also become more reluctant to buy ornamental fish, as they sought to save money instead.

Aquarium Industries, which supplies 1,000 retailers in Australia and employs 60 people, will continue to trade as the administrators look for a buyer for the business.

"The effects of the global downturn and the substantial increase in the cost of doing business overseas has been felt across a range of industries and enterprises," Mr Keith said.

"As the flow-on effect of the global economic climate becomes apparent, we are seeing businesses from all sectors impacted."

HAMZA

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Where am i going to buy dead fish from now lol. But yea its not good.

Everyone is being affected, Im in the mining/engineering industry which has long been thought to be pretty safe, but we are seeing some of the larger places go under, or simply sack alot of there staff to get the work done offshore.

Lets hope its short lived.

Stupid americans always screw the world dont they.

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Stupid americans always screw the world dont they.

It is their cult of unfettered greed - They do not care who they screw over or how badly so long as they get rich !

They cant see past their own avarice -

The most ridiculous thing is they believe everyone on the planet wants to be American ! I do not envy America no way would I want to live there and I would definitely not want to raise kids there !

But still most of the world's Governments tie their economies to the US .

In the end it is the workers in the other countries who suffer .

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It is their cult of unfettered greed - They do not care who they screw over or how badly so long as they get rich !

They cant see past their own avarice -

The most ridiculous thing is they believe everyone on the planet wants to be American ! I do not envy America no way would I want to live there and I would definitely not want to raise kids there !

Damn straight ... But they're too far up their own (_I_) to realise it ...

Hamza

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Not Surprised.....

Obviously not as smart as they think they are!

Got a fancy website....that tells you nothing....a list of lfs that deal with them...NO PHONE NUMBERS

You ring them up and they nearly all say they don't buy off them!

Sent them an e-mail and it bounces back if you don't have a customer Number

Ring them up and you go on hold with a promise to ring back....

TO me it seems.....A Business set up by Kids with Business degrees who follow the text books....but NO IDEA how to DO BUSINESS.....

Any New Owner will need to change a few things.....or the business is doomed!

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AI screwed over and sent alot of local(australian) breeders broke when they went over seas big time about 5-6 years ago so i think its a good thing to see them go! plus we now have some new fish dieases in the country from the huge influces of imported fish to the country.

Good work AI

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Been thinkin about this. There are 2 ways we can look at it 1st way is doom and gloom, the aquarium industry is in the pooh. The 2nd is this will ope up trade for local breeders. Personally my opinions is it was bad management rather than blaming the aussie dollar and the economic crisis. I was in a shop last weekend and it was the busiest I have seen for a long time. The funny thing is when people are more stressed like we all are at the moment they tend to spend more on stress relief than other things. It is a well known fact that aquariums are the perfect way to relieve stress. Even the local shops on the coast have shown an increase in business. Up here anyway.

Ok there is no doubt the imported fish and products are going up in price but that will put us loacal breeders on a more level playing field.

Just my thoughts anyway.

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AI has been the largest ornamental wholesaler in Australia for the past 40 years... maybe it also has a bit to do with book keeping etc.

I don't think the aquarium trade is dropping off dramatically due to the financial "crisis", but i also blame the yankies LOL :laugh:

Stace

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