So your company has gone to the wall with not inconsiderable debts of over £8 million, and the people you owe the most cash to are your parent company which owns half the business. Bugger. And since nothing spreads faster than bad news, CDiscount.co.uk are now in the precarious position of having to continue trading as a going concern in an attempt to attract a buyer, while hoping customers trust the business won’t be wound-up the moment they place an order. Bugger again.

How do you fire up people to take a chance on buying your products? How do you keep whatever revenue you have from drying up overnight? You get a spanking new logo that’s what – a logo lets the world know you’re still in the game and you’re not going anywhere, no matter what anybody say. Something like this, then:

Because nothing says “we won’t go tits up if you give us your money” quite like “in provisional liquidation”.

It’s grim news for customers of CDiscount.co.uk. As we revealed yesterday, the online store has gone into administration with debts of €8.2 million. The company was launched as a separate concern to European parent company CDiscount SA, which owns 50 per cent of the Ireland-based business and is owed €4.6 million.

What does this mean for customers? Bitterwallet spoke to a member of staff at CDiscount.co.uk this morning, who confirmed the company was in administration, and that orders could not be accepted and nor could any existing credit be spent. Also, CDiscount confirmed that any orders made before the company went into administration last week cannot not be fulfilled for the time being, adding that the company hopes to learn more from the administrators in the next day.

It’s not all bad news. If you spent over £100 on a single item and paid by credit card, then Section 75 of the Consumer Credit Act 1974 makes your credit card company as liable for your loss as the retailer. If this applies to you, then phone up your credit card company and tell them you wish to make a claim under the terms of the Act – they should send you a claim form. Remember – they are as liable to you as CDiscount.co.uk, so don’t be fobbed off; it has been known by companies to deny liability in the past.

CDiscount, the online retailer that is huge in France and Germany, has had its wings clipped in its attempt to capture the UK and Ireland market – liquidators have been appointed as the company has been declared insolvent.

In spite of their rampant success on the continent, the UK and Ireland version was set up as a stand-alone company, so the trouble it has got itself into since launching in December 2008 is all its own doing and has excess liabilities to the tune of €8.2 million.

Ironically, the petition for the liquidation order is… CDiscount SA, based in Bordeaux, France, who claim they are owed €4.6 million. You’d think they’d be able to sort it out like family should but there’s clearly no room for sentiment in business these days.

Eyebrows were raised at the beginning of October when the company scrapped their ‘3 Pay’ scheme, which allowed customers to pay for goods in three monthly, interest-free payments. Seemingly, the CDiscount bean-counters could see which way the wind was blowing.

At this point in time, the cdiscount.co.uk site seems to be operating as normal, although you’d have to have nerves of steel to order something from them over the next few days.

(Thanks to HUKD member Stigma for the tip off)

If you’re in the market for a new TV and you enjoy a bit of a gamble, HotUKDeals stalwart andywedge has found an offer from CDiscount that could interest you.

In a nutshell, if you buy a TV from them anytime between now until the beginning of the Wimbledon final and if Andy Murray lifts the big shiny cup, CDiscount will credit your account with the voucher matching the amount you paid for the TV. The voucher will be valid for 30 days against anything on the site.

"I want you all to have new televisions!"

So if it comes off, you’ll wind up getting a load of stuff at half price. Not a bad one, and it certainly makes watching the tennis a hell of a lot more interesting. The way we see it, if Murray makes it to the final it could be worth buying a telly and then crossing your fingers.

If you’ve got money to burn, you could even cover your investment by slapping down a massive bet on his opponent. This will probably be Federer, and he will therefore be the hot favourite, but the odds might be more favourable than normal as thousands of occasional gamblers will be backing Murray.

There’s a tasty little debate developing over at HotUKDeals about this one. It’s certainly more interesting than watching the tennis.

*Depends what you mean by ‘free’ of course…

If you’re a regular on HotUKDeals, you’ll know that one of the most frequently occurring names that crops up as a purveyor of bargains is CDiscount. Now it looks like they’re about to get a hell of a lot bigger, with a full-on UK launch due next month.

They’re part of the French retail giants Casino Group, who have 10,000 stores worldwide and in France, the long-established CDiscount is just behind Amazon in the rankings. It seems as though they’ve been dipping their Gallic toe into the UK online retail market over the past few months gearing up for an imminent full assault.

At the moment in the UK, they’re specialising in hi-tech, homewares and fashion, but take a quick peek at their French site and you’ll see that there’s a whole lot more to come from CDiscount, with the likes of Tesco, Amazon and DSGi’s brands in their sights. Childrenswear, toys, gardening and health and beauty products are among the ranges they’ll be adding as the next 12 months sees rapid expansion.

So, what impressions have you had of CDiscount in the UK so far? Maybe you’ve used their French site in the past? What do you make of their 0% interest three-month payment plan for goods over £75? Will their arrival see a major sea change in online retail in the UK? Will Ken and Deirdre survive Ken’s latest infidelity or is it curtains for Corrie’s veteran couple? What REALLY happened to Jesus after the resurrection? Speak to us damn you.

[Times]

Bitterwallet reader, Tom Chapman, tipped us off in the DSGi sales blog comments that Best Buy is now hiring for UK senior staff. A quick browse through Totaljobs shows listings for a Customer Insight Manager, Head of Online Marketing and Online Content Specialist among others.

The ads state the first store will launch Summer 2009 which is inline with their statements in 2008. It seems the crumbling financial markets are not slowing their UK expansion plans.

The job listings indicate the online site will be essential to the launch as well as big box style stores (the ads refer to the US sized 50,000 sf stores). With the death of electronics retailers such as Empire Direct, the weak position of DSGi and the launch of CDiscount and Best Buy it seems the UK consumer landscape may be drastically different by the end of 2009.