Cable Forum - Changes on the High Street

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Cable Forum (https://www.cableforum.uk/board/index.php)

- Current Affairs (https://www.cableforum.uk/board/forumdisplay.php?f=20)

- - Changes on the High Street (https://www.cableforum.uk/board/showthread.php?t=33705897)

denphone

26-08-2018 10:40

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 35961349)

And a Sports Direct mug. 😉

No that goes in the bin..;)

denphone

09-09-2018 20:42

Re: House of Fraser in trouble...

Debenhams calls in KPMG to assess future options.

https://www.bbc.co.uk/news/business-45463870

Quote:

Industry insiders say the firm and KPMG are looking at a number of potential options, including a company voluntary arrangement (CVA), but it is just one possible measure under consideration.

1andrew1

09-09-2018 21:41

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 35962748)

Debenhams calls in KPMG to assess future options.

https://www.bbc.co.uk/news/business-45463870

Hands down who doesn't anticipate a few store closures.

denphone

09-09-2018 21:51

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 35962761)

Hands down who doesn't anticipate a few store closures.

The trouble is with HOF and Debenhams is many of their stores are too big for the modern age and both have been very slow to react to the huge structural retail changes that has happening in the last decade or so.

1andrew1

10-09-2018 22:50

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 35962764)

Debenhams hasn't been able to alter its leases as it is has been profitable. And some leases are very long term. At the time, those who negotiated its long-term leases were applauded for getting great deals. They couldn't and didn't predict the internet.
House of Fraser could have invested more in its website earlier but has been hindered by a succession of short-term owners including a Chinese firm who promised the earth but just invested its UK profits in Chinese stores. Ironically, "lefty" staff-owned John Lewis has made the correct moves.

Hom3r

10-09-2018 23:12

Re: House of Fraser in trouble...

The biggest problem in very greedy landlords.

My local shopping centre a few years back wanted £10k a month, small businesses struggled.

1andrew1

10-09-2018 23:53

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hom3r (Post 35962890)

The biggest problem in very greedy landlords.

My local shopping centre a few years back wanted £10k a month, small businesses struggled.

Internet is far, far above that issue probably followed by poor deals that shops signed up to. If landlords charge too much, shops will close down or relocate.

denphone

11-09-2018 05:56

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hom3r (Post 35962890)

The biggest problem in very greedy landlords.

My local shopping centre a few years back wanted £10k a month, small businesses struggled.

Sadly in many town centres we all can all see the consequences of that.

heero_yuy

22-10-2018 12:07

Re: House of Fraser in trouble...

Quote:

Quote from City A.M.:

Debenhams is expected to announce further store closures on top of the 10 it already has planned, as it presents its full-year results on Thursday.

The beleaguered retail giant, which has issued three profit warnings and has lost two-thirds of its share price since the start of 2018, is looking to save £30m by axing dividends, sources told City A.M.

Reports from other sources suggest up to 60 stores may face the axe.

denphone

22-10-2018 12:10

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 35967425)

Reports from other sources suggest up to 60 stores may face the axe.

From where l am looking the omens don't look good.

heero_yuy

28-12-2018 10:23

Re: House of Fraser in trouble...

Quote:

Quote from Sky News:

HMV, Britain's biggest high street music retailer, is on the brink of becoming the first post-Christmas victim of Britain's brutal high street environment by collapsing into administration for the second time in six years.

Sky News has learnt that HMV Retail filed a notice of intention to appoint administrators last week amid desperate last-ditch talks with suppliers.

Sources said that the chain, which trades from 130 shops and employs about 2,200 people, had been in talks in recent days with leading names in the recorded music industry to seek financial support from them.

However, those discussions are not thought to have produced sufficient assurances to underpin HMV's finances, casting doubt on the survival of a retail name due to mark its centenary in 2021.

Probably one of the more vulnerable brands to on-line and downloads.

My grandfather used to work for EMI (records) in Hayes. The original owners of the HMV brand.

denphone

28-12-2018 10:34

Re: House of Fraser in trouble...

Sadly no surprise Heero as once we get into January we are going to see some significant retail causalities go into administration IMO as the High Street retail bloodbath gets worse.

Stephen

28-12-2018 10:58

Re: House of Fraser in trouble...

Not again.

I fear there will be no saving it this time.

Hom3r

28-12-2018 11:30

Re: House of Fraser in trouble...

The Wednesday before Christmas, I was at Lakeside in Thurrock, and the HoF there is closing.

gba93

28-12-2018 11:34

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hom3r (Post 35977072)

The Wednesday before Christmas, I was at Lakeside in Thurrock, and the HoF there is closing.

This has been known for some time - unfortunately negotiations with Intu Property over the lease didn't achieve a positive outcome.

https://www.bbc.co.uk/news/business-46209147

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