To Yell and back

ORCThe big To Let sign outside One Reading Central could be about to get bigger.

hibu – the firm formerly known as Yell – is in administration yet amazingly seems to brush the situation off as part of its restructuring.

The seven floors it initially took here shrunk to six and its move here a few years ago co-incided with hundreds of redundancies. The company has massive debts and seems to have been living in a bubble. I’d bet the restructuring is a way of buying more time but not paying the debts.

The internet destroyed this industry and while Yell did respond, it seems its model doesn’t work. Maybe I’m pessimistic but I can’t see a future for Yell without a massive change in direction.

Advertisements

About Alan Bunce

Freelance journalist Former Community Editor with the Reading Post. Former Business Editor with the Reading Chronicle.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s