Calls for buggy industry bail out misplaced

January 22, 2009

Collapse of competitor surprises phil&teds – calls for buggy industry bail out misplaced

Leading New Zealand juvenile products company, phil&teds, today rejected pleas for a ‘buggy industry bail out’ on the back of the collapse of Mountain Buggy Ltd.

“While it’s true that the New Zealand buggy industry has halved overnight, our half is going absolutely gangbusters, just quietly; not to dance on their grave at all,” said phil&teds chief cook & bottle washer, Campbell Gower.

Gower expressed sympathy for his newly departed competitors, “Look they were a fabulous company – stalwarts of the ‘Buy New Zealand Made’ campaign – and we assumed they’d have had a fantastic last sales year, like us”.

“I can certainly see the appeal of a being handed a few billion by the Government in a ‘bail out’ – it’s worked a treat for GM - but it just didn’t seem right to have our hand out with our sales, profits and staffing up 50+% this year.

“We figured that no debt, positive cash flow and profitability was a better way to go!”

“Still, if they’ve got a spare billion or two, we’d be delighted to assist”.

ENDS

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