Blog
For Sale Signs Foresaken
28th November 2008
I am grateful to one of my students Will Hedges for spotting this super story about one of the victims of the property slump!
Over to Will….....
A sign of the times?
“The collapse in demand for houses has caused estate agents like Savills or Winkworth to cut back on their purchases of “for sale” signs. Kremer Signs, the biggest UK supplier has recorded “45 percent drop in revenue” as demand for the signs is slashed due to a knock on effect of the housing market. According to Mr Gosney, the office manager, estate agents are only ordering a maximum of 30 boards at a time where they used to order 150 or so. As a result of the loss of demand, Kremer signs have obviously looked to cut costs so inevitably “labour shredding” has occurred. 25 of the 65 employees have lost their jobs and the future is looking tough for Kremer Signs who are left with thousands of signs they cannot sell. Perhaps they are not too far off needing to produce a sign for themselves!”
More here from the Daily Mail including a memorable photo
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.