[ARCHIVE] Q&A: Bid and Price Drop cease broadcasting



Following the abrupt end of shopping channels Bid and Price Drop TV after owner sit-up Limited called in the administrators, how did the channels end up in this situation? And what happens next?

Q: Why have bid and price drop TV gone off air?
updated 23/04/2014

A: Owner sit-up Limited has been in financial trouble in recent months, and been under different ownership after being sold by German company Auerlius in December to Tnui Capital. Tnui Capital  appointed KPMG to arrange a "Company Voluntary Agreement" or CVA.

KPMG defines a CVA as follows: "Where a company is experiencing difficulties in paying its debts, the directors can propose a company voluntary arrangement (CVA) whereby the company enters into a legally binding agreement with its creditors, such as their suppliers or landlords.  In a similar vein to an individual voluntary arrangement (IVA), which gives an individual an alternative to bankruptcy, a CVA enables a company and its creditors to come to a compromise agreement and avoid an administration or liquidation.  A CVA can provide a company with some breathing space to allow it to reorganise or restructure its funding and/or its operations with as little disruption to the day to day trading as possible, with the control of the company usually staying within the existing management."

Practically all of the company's creditors agreed to the CVA at a meeting on the 18th March. However sales of goods on the channel have - according to KPMG, who are now acting as administrators -  "unexpectedly" fallen over the past month.
The figures no longer added up for the company, the CVA fell apart, according to reports and the company ceased trading. In a brief statement on the price-drop.tv website, KPMG says it was appointed as administrators after the business had ceased trading.

Q: What happens to viewers who have recently bought goods? What if they want to return goods?
updated 23/04/2014
A: It's unlikely that viewers who bought goods just before the company ceased trading will get them, and the customer support teams who would deal with enquiries and refunds is no longer in place.
Administrator KPMG is to issue more information for consumers via the channel's websites soon. On 23rd April, KPMG issued an email address for affected customers: [email protected] 

 Q: Is this why I lost these channels on Freeview a few weeks ago?
A: In a move widely thought to be about reducing Freeview carriage costs, bid and price drop moved "multiplexes" on the week commencing 31st March, meaning they were being broadcast on new frequencies. Viewers needed to retune to keep watching. But Price Drop moved to a digital multiplex that has limited UK coverage and can only be received on newer TVs, set-top-boxes or PVRs that can decode "Freeview HD" signals, despite the channel only being in standard definition. In Wales, Bid TV disappeared from Freeview earlier this year, before returning on the 31st March for its final weeks on air.

Q: Didn't they change the name and format of the channels in March?
A: On-screen Bid TV changed to "shop at Bid" and turned into an "Ideal World" style of channel, with product presentations and fixed prices, and reduced telephone call charges. Importantly, on Electronic Programme Guides, the channel remained listed under its old name. It also continued to be licenced by Ofcom under its old name.

Price Drop TV briefly split into two channels. Price Drop went daytime only in mid-March and became a stock clearance channel; evenings were handed over to "Best of Bid", offering viewers another chance to purchase goods in the same format as Shop at Bid.

Nobody wanted this ring for a penny...
Then, earlier this month, Price Drop went full-time with a new format. Viewers were invited to bid for items in a falling price auction. If the full quantity of goods had not been sold before the price dropped to a reserve price (which was unknown to the viewer), then all viewers who had placed a bid lost out. Coinciding with the change, the telephone number turned into a freephone 0800 number. In the days immediately before the channel fell off air, the format had been tweaked with for some auctions, so that all viewers would be "winners".

Q: Weren't the products they sold rubbish?
A: Toward the end, many of the products sold did indeed appear to resemble those found at bargain homeware stores and garden centres; hardly surprising given the reports that they had not been able to pay suppliers.

This, and the fact that Price Drop would have lost a substantial number of viewers on Freeview following transmission changes at the end of March, probably helped cause what Administrators KPMG called an "unexpected fall in sales".


Q: What happened to the staff, including presenters?
updated: 26/05/2014
A: All 200+ staff have been made redundant. Some presenters have found work on other channels. Mike Mason is heading to Ideal World and Lisa Brash joins 'The Outlet Channel'. (edit: and subsequently left). Andy Hodgson, who left bid tv long before it ceased broadcasting is now on Home and Garden Plus. Peter Simon is on Gems TV (Gemporia). You'll probably find other presenters pop up on other channels as time passes.

Q: Any chance of the channels making a comeback?
A: Although companies can rise from the ashes after being placed into administration, the events leading up to the closure of bid and price drop mean that it's very unlikely that the channels will return.

Q: What happens with the Freeview slots?
updated 26/04/2014
A: Both slots were held on Arqiva-owned multiplexes, and the plug was finally pulled on the 25th April after a week of the emergency "technical fault" slide which kicked in when the output from the studio was pulled. The bandwidth used to broadcast bid and price drop will be made available to other commercial channels in due course.

Q: What happens with their Sky channel numbers?
updated 30/04/2014
A: Canis Media has been appointed by KPMG to sell the EPG slots to another broadcaster. Unlike other digital TV EPG providers, channel number slots can be traded on Sky, as there is a limit to the number of standard definition channels on Sky.

Q: What happens on other digital TV platforms?
updated 23/04/2014

The situation on other digital TV platforms is less complex, with no channel number trading or capacity limitations. The channel numbers used by bid and price drop will likely be reused by other channels in the future.
Freesat became the first digital TV provider to pull the channels from their channel list on Tuesday 22/04/2014.







Also on a516digital:
Freeview Retune Day - 3rd September
Find out which channels are changing numbers later this year. 


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51 comments:

  1. Not before time,they sold crap for the most part and were very,very greedy with their charges! Goodbye and good riddance...

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  2. I used to buy quite a lot from Bid TV and Price Drop, lovely quality Tommy & Kate bags & high end watches, but the products started to become cheap and nasty, and I have not bought anything for over 3 years. The biggest downside has always been the telephone call charge and the p&p at £7.99. I do feel for the presenters though as most of them had been there for a long time, and I wish them well.

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  3. feel bad for the presenters they were a fun lot

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  4. it's a shame really, when I first began watching/ buying they had the monopoly, for selling how they did, admittedly they could have learn't from Gems TV, in the sense of p&p, a smaller charge for multiple items and for twenty four hours, but instead they went for the genre of Ideal World, and shot themselves in the foot, hadn't they heard the saying if it ain't broke don't fix it, excuse the pun, I guess their well and truly broke-n !!!!!, wishing all the staff find other employment swiftly......

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  5. Shame really bought loads of good stuff from them over the years but did not like the new format at all. The presenters were great and such fun! Hope they do well elsewhere.

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  6. The bags, bedding and big brand fragrances were the best bargains on bid and price drop. Will miss the banter tho and wish all the presenters and staff good luck for the future. Thanks for the memories!

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  7. The last item I bought from bid was a tanzinite ring when I got it valued the stones were man made not real wasnt even worth the money I paid I returned it within 7 dys and got a refund just lost trust 8n the channels

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  8. I never bought anything from these channels, but I left the TV on one or other of them when I wasn't at home, and they were cheerful talking and visual company for the cats! Sorry for the staff, but I expect they mostly have TV contacts who will be able to get them other jobs.

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  9. What happens about all the credit/debit details they hold on file are they still safe, will they be deleted?

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  10. The administrators (KPMG) will still need to adhere to data protection rules.
    After Easter, KPMG are expected to publish more information for concerned customers.

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  11. I bought a few good and not so good items . But what I did notice was that by the time the phone call and p&p was added sometimes it was cheaper to buy in the shops .

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  12. shame we not see the funny and Gorgeous maria berry!...

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  13. LAST YEAR I BOUGHT A 9INCH YARVIK TABLET.FROM THEM £199.99 FREE p+p.. NOW THE TABLET WILL NOT TURN ON..I TOLD .BID.TV .THEY TOLD ME TO RETURN IT THE TABLET BACK TO THEM..I ASK FOR A COPY INVOICE TWICE I NEVER RECEIVED EITHER OF THEM..NOW I DON'T KNOW WHAT TO DO SINCE THEY HAVE CEASED BROADCASTING.I'M REALLY UPSET BECAUSE £199.99 IS ALOT OF MONEY TO LOSE ..

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  14. Ive used both there channels for over 12yrs,you name it I bought it lol my sons always used to call it rubbish,but I stopped using them as much about 5yrs ago there goods were starting to be not has good quality has had being, sorry to see it go but guess just a sign of times

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  15. i will miss price drop and bid what happens to all the accounts people made for payments?

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  16. Aww.i feel for the staff! I just used to watch for the banter and jokes! All the best guys x

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  17. They used to sell good quality stuff at first but then they started to sell utter crap. Bad management and bad decisions have lead to administration. I do feel sorry for the presenters such as James Russell, Mike Mason and Peter Simon as well as those poor sods with mortgages and children. Good luck for the future.

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  18. Am absolutely astonished and sad! As a mum home alone I used them as background (often) over spending on odd bargains...poor mike and his goddess and Son?! And the other presenters!? Am gutted!!! I sound a sad mapper but had really felted got to know them-the geordie lass, Dave, Peter- ex tomorrow world presenters... Come on please-someone get bid back to its glory days?????!!! Sniff miss you all xxx

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  19. Still no updates on whats going on websites still same saying being updated price drop channel has gone to cbs reality bid still on freeview saying tech fault will be sorted asap go to there web site

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    1. It's actually the old bid tv bandwidth that's being used for CBS Reality. Bid was in turn using the old price drop bandwidth.
      When the plug was pulled and all staff were made redundant, the "technical fault" caption kicked in - the default when the feed from the studio is lost. As no-one is left at the studios, the caption could well stay until someone pulls the plug further up the broadcast chain.

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  20. Oh well now I know why the watch I ordered hasn't turned up. Would've been nice for channel to inform me and no doubt many others who aee still awaiting items. Thankfully under £20 down the tube feel sorry for those who have obviously lost more. I for one won't trust tv shopping channels again.

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    Replies
    1. Hello .
      claim your money back though your credit card or bank ...

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  21. There is another forum where a guy who is or maybe was working in there dispatch warehouse said anything ordered day before they shut down was still being sent out to customers and i think he said from what i recall anything ordered up to when plug got pulled would get refunds how true this is i dont know but that was what was posted at time

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  22. Shame this service has gone as there were people who found this way of shopping a good way to get things if they couldnt get out to the shops or dont have pc's makes me wonder went wrong as they would always say they had huge new warehouse a good year or so a go they got and said because they could buy in bulk from suppliers they got discount on what they paid so they passed the discount or paert of it on to us the paying public people say they didnt sell good quality goods but in this day and age you pay for what you can afford the higher the price the beeter quality of product you can buy if your lucky to have plenty of money to spend

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  23. Shame this service has gone as we were some of the people who found this way of shopping a good way to get things if they couldnt get out to the shops and has been for nearly ten years. In our experience there has been little to be concerned about with regard to quality and it has often exceded that of other well known channels. When a problem has occurred it has always been resolved quickly. We have always questioned the high delivery charges and I am sure that that had the effect of suppressing sales especially when wanting to buy multiple items on the same day. They bought light relief and companionship into the home for those unable to get out and about and they are already sadly missed

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  24. Both websites have been updated saying kpmg llp are the admin for sit up who ceased to trade before they took it on seems a bit weird that being posted on the websites if im honest as makes it look bid/price and sit up were already long gone finished before the plug was even pulled on Thursday

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  25. Administrators from KPMG LLP were appointed on 17 April 2014.
    Sit-up Limited had ceased trading prior to the appointment.
    Please check back later, we apologise for any inconvenience.
    For any further queries please contact: [email protected]

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  26. Hi Jason,
    you may have noticed that the Q&A above has been amended with that new information within the last hour.
    I agree it's quite odd, especially after the initial news release on Thursday that stated that the business was in administration and the channels will cease later today, suggesting it was the other way round!
    We await more information with great interest.

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  27. Sorry didnt see you had done just had a read now and seen it there applogies for repeating what you have updated but will be intresting to see what happens and where it leads and goes to next

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  28. No problem. Some users may be following the comments using the "email follow-up comments" function and may not be aware of the update on the page, so the first time those users will have seen the email address would have been in your comment.

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  29. i have shopped with all channels for 10 years plus.i needed to return an item and asked for a collection as i had a severe mobility problem. i was told by ur overseas rep that i wud have to get a letter from my G P to confirm this. i have not bought anything since july last year. i used to spend 200 pounds a month at least. that was my last purchase.

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  30. Be intresting to see if anything is rasied from the ashes of bid price drop and a combo of the 2 maybe put on one channel in the future time will tell i guess and see a few of them on other channels selling goods

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  31. Bid and price drop have now been switched off from Freeview.

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  32. Bid Tv and Price Drop are no longer available on Sky either.

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  33. james russell brilliant talent why he is not hosting barrymore type shows one beggars belief.
    if anyone talent scouting is reading this, he is hot property get him doing take me out or something like that.

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  34. JAMES RUSSELL
    My Kind Of Music 2014

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  35. James Russell
    Top Middle Or Bottom?

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  36. James Russell

    Name That Tune 2014 ?

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  37. James Russell

    For

    The New Generation Game 2014 ?

    or

    3...2....1....Dusty Bin 2014 ?

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  38. James Russell

    Mr & Mrs TV Show 2014 ?

    I mean come on are you all half asleep producers please is there anyone out there.

    JAMES RUSSELL

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  39. James Russell

    In The sequel to The American 2

    as Jack Edward Clarke.

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  40. Vote For James Russell

    post a follow up comment to me

    Talent must be recognised and appreciated.
    I want shares in James Russell
    Come On people?

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  41. Will the number on freeview 807 still stay up, I have been trying every evening for a few days and lately it has just gone black???

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  42. so sorry to hear about bid and price drop. because of the owners charging such ridiculous prices for postage and to my mind, shoddy goods, a lot of people have lost their jobs. it wasn't the goods that made the program, it was the presenters, especially peter. I just hope another company will snap them up quickly and learn lesson from other programmes like gemporia. very good luck to all concerned.

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  43. @Molly Churchward:

    By last Friday afternoon, all digital TV providers had removed bid and price drop from their channel lists. Some Freeview TVs/set top boxes will keep the number in the listing until the next time you do a retune. bid should have been on channel 23, but may have been added to channel 807 when it changed frequencies on 31st March, and your receiver though it was a duplicate not a replacement of the service on channel 23. (Channel 800+ is an area used by Freeview receivers for duplicates and for services received from more than transmitter.)

    If it doesn't bother you, defer retuning until 3/09/2014, when there'll be some changes to Freeview channel numbers.

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  44. I bought from them years ago and recent and there items became rubbish and the call and p±p was a rip off and I found the same items in the pound shop , they became sad, but I feel for the staff and crew ,,, best wishes

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  45. I Fill sorry for Lica brash because that's the only reason i watch it for as she makes you laugh so much i hope these other shopping channels take some of the presenters on

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  46. Thank you for your comments on this topic. This article is now closed for further comments.

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