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House of Fraser in trouble...
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Old 06-01-2018, 14:58   #16
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Re: House of Fraser in trouble...

I must admit I'm an old fogey . . I always have a preference to see and feel things I want to buy in order to judge better if they're worth it. Obviously this means that online shopping is not something I take to easily.

I guess it's fine for those who are willing to wait a week for a purchase to arrive, and then have the calm and forgiving attitude required to return said item if it's wrong or damaged when (if) it arrives.

yes yes yes, change with the times you old luddite but we seem to be throwing experienced and helpful retail staff onto the dole and replacing them by an ever growing army of low paid (or self employed) delivery drivers working to tight schedules.

goodbye high street shopping . . hello night clubs, pound shops, and fast food take-aways
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Old 07-01-2018, 11:59   #17
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Re: House of Fraser in trouble...

At the other end of the price spectrum, New Look is not looking good either.
Quote:
New Look’s precarious finances are set to come under more pressure after the withdrawal of credit insurance to many of its suppliers.
The development is a further blow for the ailing fashion retailer, which is struggling with falling sales and a debt burden of more than £1bn.
The chain’s deepening woes come at a bleak time on the high street. Debenhams saw its market value drop by almost a fifth last week after it issued a Christmas profit warning, while House of Fraser confirmed that it had been forced to ask some of its landlords for rent cuts.
https://www.thetimes.co.uk/edition/b...over-cmmzxj60k
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Old 07-01-2018, 12:42   #18
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Re: House of Fraser in trouble...

Yes it certainly does not look good for New Look that is for sure.
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Old 12-01-2018, 10:36   #19
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Re: House of Fraser in trouble...

Quote:
Originally Posted by denphone View Post
Yes it certainly does not look good for New Look that is for sure.
Quote:
New Look, the fashion retailer, is weighing a plan to close about 10% of its British stores in another sign of the tumult facing the high street.

Sky News has learnt that the South African-owned chain is drawing up proposals for a Company Voluntary Arrangement (CVA), a process often used by struggling retailers to restructure financial obligations to creditors.

Sources said on Thursday night that New Look's CVA plan was not yet finalised and was only one of a number of options under consideration.

A decision about whether to proceed is expected to be t‎aken in the coming weeks, and would require the consent of bondholders.

If it does go ahead with the store closures, roughly one-tenth of New Look's nearly-600 outlets in Britain would be axed, with sizeable rent reductions sought at many of the remaining shops.
Source
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Old 12-01-2018, 11:46   #20
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Re: House of Fraser in trouble...

Expect more High Street casualties as the weeks go on..
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Old 12-01-2018, 17:18   #21
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Re: House of Fraser in trouble...

I remember once shopping in a House of Fraser, about 30 years ago - they were expensive, and I never used them again.
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Old 12-01-2018, 17:35   #22
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Re: House of Fraser in trouble...

Quote:
Originally Posted by Paul M View Post
I remember once shopping in a House of Fraser, about 30 years ago - they were expensive, and I never used them again.
The internet has changed everything as we all know as High Street business models which worked before are now looking archaic in comparison to their swift online competitor's who have nothing like the overheads the High Street chains have and they don't have inflexible leases or increasing rents either to deal with.
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Old 12-01-2018, 22:59   #23
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Re: House of Fraser in trouble...

I buy a lot of stuff from Amazon, last year I spent over £1,800.

But easily saved £500, over shops.

But having Amazon Prime I can order for next day delivery, which is great for mid week.
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