Peats gone

caff

Message on their website
http://www.peats.com/

Press Statement - 26th August 2013
Peats 'World of Electronics' Closes

The family owners of Peats 'World of Electronics' have announced with great regret that the business is closing with immediate effect. A creditors meeting will follow in due course.

Chairman Ben Peat briefed staff at their Parnell Street store this morning, outlining that the company could not continue to trade due to continuing poor market conditions. Twenty two staff will be made redundant.

The company had last year closed a number of its stores, whilst keeping the flagship Parnell Street store and its online business open. Since then, the electronics sector has continued to suffer from economic decline and trading over the last 15 months has not been at a viable level to allow the business to continue.

Speaking about the closure, Chairman Ben Peat said;

"It is with great sadness and regret that we have had to make this decision, but we have been left with no other options. Unfortunately, the sector in which we operate has been disproportionately adversely affected by the economic downturn and despite the best efforts of myself and my fellow directors, including a remodelling of the business last year, we simply cannot continue in this climate. Obviously it is a particularly difficult decision for me, with the business having been in my family since 1934 and it's a real shame to lose the familiar Peats shop front from the high street.

I want to put on record my heartfelt thanks to all the staff who have worked with us over the years for their loyalty, hard work, dedication and commitment to providing the exceptional customer service which has always been Peat's hallmark. Finally, thank you to all our customers and our suppliers who enabled Peats to trade for nearly 80 years, a remarkable achievement for a family owned retailer in our sector."

Customers with outstanding orders or other queries can contact Peats via email on admin@peats.com and via telephone on 01 878 4057. An update following the creditors meeting will also be posted on the Peats website www.peats.com

beauf

Sad to see it go. Impossible to compete with the net I assume.

Basq

Think they appointed a liquidator about 18 months ago. Shame to see though!

maximoose

beauf wrote: »

Sad to see it go. Impossible to compete with the net I assume.

Always found them ridiculously pricey tbh. Used to live relatively near the Parnell street store and used it to have a look at tech before buying elsewhere, their prices were terribly high.

Hootanany

Sorry to them go again, got some great advice over the years.

Dublinflyer

It is a shame to see them go but even after the last time they closed they were very over priced. The guys in there mostly knew their stuff but the price is always the deciding factor for these kind of purchases. I was looking at an internet radio not so long ago and it was almost €30 cheaper in argos. I always thought they lost a lot when they closed the parts dept that was upstairs when they were across the road. I think for a long time they almost had the market for high end electronics to themselves and priced accordingly but did not evolve when that changed dramatically and they had a lot of competition in their space. A rather odd memory of mine was standing in Peats on 9/11 with the sales guy trying to convince some old dear that it was not a movie we were watching!

Slunk

Walked by Parnell street around noon and it was closed then seen the news on Rte. Shame

super_furry

Sad but every time I walked in there in the last couple of years I left empty handed because of their prices.

Faith+1

super_furry wrote: »

Sad but every time I walked in there in the last couple of years I left empty handed because of their prices.

Me too. Always wanted to give them my business but their prices were crazy.

skimpydoo

I got my first computer from them in 1980, a Commodore Vic20 in their old Parnell St premises.

power pants

saw a Panasonic plasma tv in there 6 months ago and enquired about it, was 530e I think. I was tempted but went for a walk to argos and the same tv was there for 450 on sale.

I said to peats about argos and if they could do a deal, the salesperson was adamant that they couldn't so I didn't purchase the tv from them in the end

Pang

Sad to hear of it closing but I always found as well as being overpriced that the selection was never as vast as other outlets.

yosserhughes

So sorry to see Peats closing down.Although they may have been a tad pricey a lot of the blame can be attributed to the cost of running a business in Ireland...I reckon the closure is a sign of things to come!The way the government are slashing peoples incomes and at the same time everything is rising in price,people just do not have the disposable income to spend in the local economy...On top of all that the Dublin council are talking of rate rises of between 30 and 80 percent..You dont have to be an economist to work it out...

Caonima

Sad to see it go. Pricey, but it was a Dublin establishment back in the day. Wonder how many jobs were lost?

K.O.Kiki

Everyone complaining about Peats prices: g'wan then, go to Maplin's around the corner! :pac:

Caonima wrote: »

Sad to see it go. Pricey, but it was a Dublin establishment back in the day. Wonder how many jobs were lost?

22 staff is what I read.

Caonima

K.O.Kiki wrote: »

Everyone complaining about Peats prices: g'wan then, go to Maplin's around the corner! :pac:


22 staff is what I read.

Shite. They'll be walking across the road from Peats to go to the dole office on Parnell street.

beauf

I've no idea how Maplins stay in business.

Caonima

beauf wrote: »

I've no idea how Maplins stay in business.

Good point. Maybe more johnny foreigners go there?

Mantel

beauf wrote: »

I've no idea how Maplins stay in business.

They don't have high end TV's or sound systems, can't imagine they'd be good to have in stock if they don't sell very fast!

K.O.Kiki

beauf wrote: »

I've no idea how Maplins stay in business.

1000% mark-up :pac:

Caonima

Is it really that bad?

gugleguy

Maplins have very occasionally some good radio control toys. I mean for a 41 year old like me.:P

I DID buy a very small radio control red mini car from Peats once. Never saw any radio control toys of note in Peats.

TheBandicoot

I desperately needed a cable the other week, a 1m HDMI->DVI cable and they(Maplins) charged me €55 for it! Goes for £5 on Amazon.

K.O.Kiki

gugleguy wrote: »

Maplins have very occasionally some good radio control toys. I mean for a 41 year old like me.:P

I DID buy a very small radio control red mini car from Peats once. Never saw any radio control toys of note in Peats.

Why didn't you go next door into Smyths instead?

gugleguy

K.O.Kiki wrote: »

Why didn't you go next door into Smyths instead?

the attitude of Smyths staff. I have spoken to Smyths staff in Tallaght and Mary street. There is nothing wrong with this attitude for Smyth's target agegroup (0 - 12 year olds)

davidlynchis

Not to sound callous at the Peats funeral thread, but any idea who the liquidator is? Wouldn't mind knowing where and when the liquidation auction is! :-)

Was in there on Saturday asking about a subwoofer, was due to go back in this Saturday to buy it!

Faith+1

davidlynchis wrote: »

Not to sound callous at the Peats funeral thread, but any idea who the liquidator is? Wouldn't mind knowing where and when the liquidation auction is! :-)

Was in there on Saturday asking about a subwoofer, was due to go back in this Saturday to buy it!

My god! :eek:

Strumms

To echo sentiments.. Sad to see a Dublin institution like Peats going and especially for all the staff above all.. It was a complete rip off however not just a bit more expensive but majorly so. The cost of doing business in Ireland ? Hmm I wonder because by my recollection it was always the way with Peats. Staff were good though have to say that much.

Heliumfix

I remember first walking into Peats at their old location 13 years ago. Upstairs they had a parts counter that sold electronic components, switches, magnets, odds and ends, really useful.
I can't help but think if they had kept that part up and not tried to be another Curry's they might still be here today.

Caonima

Heliumfix wrote: »

I remember first walking into Peats at their old location 13 years ago. Upstairs they had a parts counter that sold electronic components, switches, magnets, odds and ends, really useful.
I can't help but think if they had kept that part up and not tried to be another Curry's they might still be here today.

Any sign of Currys going anytime soon?