Cable Forum - Changes on the High Street

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

heero_yuy

23-01-2019 12:18

Re: House of Fraser in trouble...

Quote:

Quote from The Sun:

Cake chain Patisserie Valerie has collapsed into administration, putting more than 3,000 jobs at risk.

The firm said discussions with its lenders HSBC and Barclays to extend a standstill agreement on its debts had failed, leaving it with no option but to appoint KPMG as administrator.

KPMG said that it would continue to trade 121 out of 200 stores, but added that 70 cafes and concessions would close over the next few days, resulting in a "significant number" of redundancies.

Blair Nimmo, head of restructuring at KPMG and joint administrator, added: "Our intention is to continue trading across the profitable stores, as collectively the brands have a strong presence on the high street and have proven very popular with consumers.

With the current craze for baking they must have something wrong there.

denphone

23-01-2019 12:22

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 35980484)

With the current craze for baking they must have something wrong there.

Too expensive is one reason and l am sure there are many other reasons as to why it collapsed.

gba93

23-01-2019 12:27

Re: House of Fraser in trouble...

Correct, serious and extensive fraud by some directors allegedly

Carth

23-01-2019 15:38

Re: House of Fraser in trouble...

Cake chain Patisserie Valerie . . . never heard of them to be honest, doubt I'd have shopped there if I had

Taf	24-01-2019 14:31

Re: House of Fraser in trouble...

The one here is always full of young, middle eastern men, and they seem to scare other clients away just by their presence.

Hugh	24-01-2019 18:08

Re: House of Fraser in trouble...

The one in Leeds City Centre was always busy, with a very varied clientele.

denphone

27-01-2019 15:31

Re: House of Fraser in trouble...

Thousands of Tesco jobs at risk as bosses look to axe fresh food counters.

https://www.theguardian.com/business...-food-counters

Quote:

The latest plan reportedly involves the closure of meat, fish and delicatessen counters as well as downgrading in-store bakeries. Staff canteens are also to be replaced with vending machines, according to the Mail on Sunday, with suggestions of up to 15,000 jobs at risk.

Quote:

“These counters don’t contribute a lot to sales but the shoppers who do use them typically spend more and are more loyal,” said Roberts. “It’s part of the aura of being a fresh food grocer and you lose something if you take them away.”

Carth

27-01-2019 17:07

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 35980972)

Thousands of Tesco jobs at risk as bosses look to axe fresh food counters.

https://www.theguardian.com/business...-food-counters

I'm sure when people can't buy meat & 2 veg at Tescos it will be the fault of Brexit. :rolleyes:

Cheap TV's & laptops to go next? :D

denphone

27-01-2019 17:29

Re: House of Fraser in trouble...

Quote:

Originally Posted by Carth (Post 35980982)

I'm sure when people can't buy meat & 2 veg at Tescos it will be the fault of Brexit. :rolleyes:

Cheap TV's & laptops to go next? :D

Don't go Tesco much but getting rid of fresh food counters , etc , etc will backfire on them but one thing it might do is potentially we might see the rise of the specialist small shop in some areas again which would be a good thing in my opinion.

Maggy

27-01-2019 17:38

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 35980972)

Thousands of Tesco jobs at risk as bosses look to axe fresh food counters.

https://www.theguardian.com/business...-food-counters

Well I no longer but meat from the supermarket. I go to my village high street butcher and buy exactly the amount I want rather than buy a pack that contains more than I actually want or need.I also support my local baker,fishmonger and greengrocer where I buy exactly what I want.A bit more expensive but as I walk there I save on petrol.

1andrew1

28-01-2019 22:27

Re: House of Fraser in trouble...

Oddbins set to go into administration (again)
https://www.bbc.co.uk/news/business-47034819

heero_yuy

26-04-2019 12:11

Re: House of Fraser in trouble...

Quote:

Quote from The Sun:

Debenhams has named 22 out of the 50 stores that it plans to close as part of a plan to save the chain.

The department store will start closing branches next year and 1,200 staff will be affected.

Stores in Canterbury, Chatham and Orpington are among the stores that are due to be closed.
Lenders took control of the struggling retailer earlier this month which wiped out the investments of shareholders, including Sports Direct billionaire Mike Ashley.

Store closure list and full story on red link. Looks like our one stays seeing as it's just had a makeover.

denphone

26-04-2019 12:13

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 35992317)

Store closure list and full story on red link. Looks like our one stays seeing as it's just had a makeover.

And ours for the moment.

Mr K	26-04-2019 12:23

Re: House of Fraser in trouble...

Can't believe Debenhams is still going, better shops have gone to the wall. Hasn't moved with the times, and I always leave empty handed having wasted 10 mins of my life.... It wouldn't be out of place as the setting for that classic 70's sitcom 'Are you being served?'

heero_yuy

26-04-2019 15:14

Re: House of Fraser in trouble...

There's still another 28 closures not on the list that is published so ours may just have a stay of execution. I don't even remember the last time I went in there.

heero_yuy

03-06-2019 11:18

Re: House of Fraser in trouble...

Quote:

Quote from Sky News:

The American owner of Boots The Chemist is exploring the closure of hundreds of shops in the latest blow to Britain's crisis-hit high streets.

Sky News has learnt that Walgreens Boots Alliance (WBA) has placed more than 200 outlets under review for possible closure during the next two years.

Sources close to the company insisted on Tuesday that decisions had yet to be made about the stores under scrutiny, but acknowledged that a significant number were likely to be shut.

Full story on red link above.

nomadking

03-06-2019 11:49

Re: House of Fraser in trouble...

No real surprise with Boots. After all, what do they sell that cannot be bought in the supermarkets?

denphone

03-06-2019 13:31

Re: House of Fraser in trouble...

Quote:

Originally Posted by nomadking (Post 35997728)

No real surprise with Boots. After all, what do they sell that cannot be bought in the supermarkets?

Exactly and its much cheaper and then you increasingly have the big discounters like B&M's who are cheaper as well.

1andrew1

03-06-2019 14:04

Re: House of Fraser in trouble...

Quote:

Originally Posted by nomadking (Post 35997728)

No real surprise with Boots. After all, what do they sell that cannot be bought in the supermarkets?

Most supermarkets in my area don't have pharmacies in them so you have to go to a chemist like Boots for prescription drugs.

denphone

05-08-2019 17:17

Re: House of Fraser in trouble...

Tesco to cut 4,500 jobs.

https://www.bbc.co.uk/news/business-49239916

Quote:

Supermarket giant Tesco says about 4,500 staff in 153 Tesco Metro stores are set to lose their jobs in the latest round of redundancies.

The UK's largest grocer said changes to the way the stores operated would "serve shoppers better" and help to "run our business more sustainably".

pip08456

05-08-2019 17:30

Re: House of Fraser in trouble...

The Tesco Metro near me is more expensive than the Mini Market right next door, it could close for all the good it does me.

denphone

05-08-2019 17:40

Re: House of Fraser in trouble...

Quote:

Originally Posted by pip08456 (Post 36004989)

The Tesco Metro near me is more expensive than the Mini Market right next door, it could close for all the good it does me.

There is a Tesco Metro two miles down the road from us which had a fire two years ago and because of rental disputes has still not reopened, l certainly cannot ever see it reopening now with the tough market conditions as they are..

1andrew1

06-08-2019 00:10

Re: House of Fraser in trouble...

Quote:

Originally Posted by pip08456 (Post 36004989)

The Tesco Metro near me is more expensive than the Mini Market right next door, it could close for all the good it does me.

If it closed down the Mini Market's prices are likely to go up due to reduced competition. So even if you don't shop at that Tesco Metro, it's probably doing you some good.

Meanwhile, HofF owner Sports Direct has bought another ailing retailer, Jack Wills.https://news.sky.com/story/sports-di...12-8m-11778180

pip08456

06-08-2019 01:20

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 36005030)

I doubt it. The Mini Markets main competitor is the Nica store just up the road.

heero_yuy

06-08-2019 10:23

Re: House of Fraser in trouble...

Quote:

Quote from Reuters:

https://www.cableforum.uk/board/atta...8&d=1562846859

Baked potato chain Spudulike collapsed on Monday after a prospective buyer pulled out of a deal, resulting in the closure of all 37 outlets and the loss of 298 jobs, administrator Leonard Curtis said here.

Spudulike’s collapse marks the latest blow to Britain’s high street and follows celebrity chef Jamie Oliver’s restaurant chain going into administration in May, which left 1,000 people without jobs.

“We are now focusing on seeking any interest in the group’s remaining assets whilst managing the impact of the closures on former employees, helping them prepare and submit claims for any arrears of wages, statutory notice entitlement and redundancy pay,” joint administrator Neil Bennett said in a statement.

Staff had virtually no warning. That's pretty tough.

nomadking

06-08-2019 10:30

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36005063)

Staff had virtually no warning. That's pretty tough.

That's the law for you. The rules specify that it has to be an absolutly last minute decision. No forward notice or planning allowed.

denphone

06-08-2019 10:40

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36005063)

Staff had virtually no warning. That's pretty tough.

And more jobs at risk here..

https://www.theguardian.com/business...0-jobs-at-risk

Quote:

The online retailer Boohoo has made an offer to buy the digital businesses and brands of Karen Millen and Coast, in a move that will raise fears for the jobs of hundreds of workers in the brands’ high street stores.

Quote:

In a statement to the stock market published on Tuesday, Boohoo said it had offered to buy the brands, but made no mention of the struggling Karen Millen’s extensive high street network.

Quote:

Karen Millen and Coast together employ about 1,100 people with 32 stores and 177 concessions across the UK. Coast also has a significant overseas presence, with concessions in the Middle East and outposts as far-flung as Singapore and Malaysia.

Carth

06-08-2019 15:47

Re: House of Fraser in trouble...

TBH don't think I've ever heard of either Karen Millen or Coast.

Taking a quick look as to 'who where what' leads me to believe their prices aren't exactly appealing to many.

Time to buy shares in Lidl & Primark do you think?

denphone

09-08-2019 14:05

Re: House of Fraser in trouble...

More possible closures on the High Street.

https://news.sky.com/story/office-si...-loom-11780870

Quote:

The shoe retailer Office is plotting the closure of up to half its UK stores as it becomes the latest chain to confront the impact of brutal high street trading.

nomadking

09-08-2019 14:20

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36005454)

More possible closures on the High Street.

https://news.sky.com/story/office-si...-loom-11780870

It's more of a case of not renewing leases.

Quote:

Decisions about some stores' future would be taken as they approached the end of their leases, the sources added.

Those which are earmarked for closure will not shut immediately.

Hugh	09-08-2019 14:35

Re: House of Fraser in trouble...

Quote:

Originally Posted by nomadking (Post 36005460)

It's more of a case of not renewing leases.

And if they don't renew their leases, those shops will be shutting?

nomadking

09-08-2019 14:39

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hugh (Post 36005466)

And if they don't renew their leases, those shops will be shutting?

If there was an immediate problem they would need to close immediately. Probably just a tactic to pressure landlords.

denphone

07-10-2019 16:18

Re: House of Fraser in trouble...

Pizza Express the next to collapse...

https://www.dailymail.co.uk/news/art...disappear.html

https://www.bloomberg.com/news/artic...with-creditors

Quote:

High Street food chain Pizza Express is at risk of being the next eatery in the UK to collapse after the firm hired advisors ahead of talks with creditors.

Quote:

Langton Capital Limited tweeted out the update following the announcement on October 4, that the company had hired advisors.

Quote:

Langton had previously sent out a report to clients which highlighted the amount of debt the firm was in, and how each restaurant was accumulating £1.6 million of debt.

MalteseFalcon

09-10-2019 16:18

Re: House of Fraser in trouble...

Damn, so many big companies going bust lately.

Carth

09-10-2019 17:50

Re: House of Fraser in trouble...

Once a hole appears, the big company solution is to throw more into it hoping it fills up again. Once you realise it's a bottomless pit, you've gone too far to back away.

Smaller companies/businesses tend to back off once cracks appear ;)

just my take on it

denphone

10-10-2019 07:35

Re: House of Fraser in trouble...

Quote:

Originally Posted by Carth (Post 36013377)

Once a hole appears, the big company solution is to throw more into it hoping it fills up again. Once you realise it's a bottomless pit, you've gone too far to back away.

Smaller companies/businesses tend to back off once cracks appear ;)

just my take on it

That just about sums it up Carth as my brother worked for a company until a couple of years ago and when the company went under it revealed a trail of robbing Peter to pay Paul going back many years before.

https://en.wikipedia.org/wiki/Palmer_and_Harvey

1andrew1

11-10-2019 00:13

Re: House of Fraser in trouble...

Good to read HMV is now profitable and expanding. :)
https://news.sky.com/story/new-hmv-o...escue-11832188

denphone

11-10-2019 06:17

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 36013546)

Good to read HMV is now profitable and expanding. :)
https://news.sky.com/story/new-hmv-o...escue-11832188

l remember l first starting going in there as a youngster and it was like a Aladdins cave to me.:)

Carth

16-10-2019 15:09

Re: House of Fraser in trouble...

Jessops owner plans to call in administrators.

https://www.bbc.co.uk/news/business-50066623

Quote:

Camera chain Jessops plans to call in administrators as its owner, Dragons Den star Peter Jones, tries to salvage the struggling High Street brand.

Mr Jones bought the chain from administrators in 2013 after it collapsed under £81m of debt.

But since then, the firm, which has 46 shops, has not made a single profit and losses have mounted in recent years.

Cameras have, for some time now, been relegated to the bottom shelf due to the leaps forward in mobile phone camera resolutions.
Pictures can be processed and printed at home, or at supermarkets (Asda eg) by users with the basic programs to do so.
I have a decent camera sitting in a drawer that I haven't used for about 3 years . . anyone similar?

Stephen

16-10-2019 18:41

Re: House of Fraser in trouble...

I bought a DSLR which I bought from Jessops in 2013 just after they reopened. I do use it often and have a few lenses for it. However due to various personal issues I have decided to sell it all as I need the cash. It's a shame that they are struggling again.

nomadking

16-10-2019 19:22

Re: House of Fraser in trouble...

Quote:

Originally Posted by Stephen (Post 36014109)

As with so many other things, times have changed. Photography is not as technical as it used to be. Full reviews of products are available on the internet, with fully details of features. You don't need a specialist camera shop to buy a camera.

richard s

16-10-2019 20:34

Re: House of Fraser in trouble...

Sign of the times I suppose... any way another British owned company being sold off to foreign investors a good or bad thing.

https://news.sky.com/story/greene-ki...eover-11789261

nomadking

16-10-2019 20:44

Re: House of Fraser in trouble...

Quote:

Originally Posted by richard s (Post 36014126)

Sign of the times I suppose... any way another British owned company being sold off to foreign investors a good or bad thing.

https://news.sky.com/story/greene-ki...eover-11789261

Doesn't sound like they had much choice.

Quote:

CK Asset Holdings, founded by Hong Kong's richest man Li Ka-shing, will pay £2.7bn for the 220-year old brewery company and take on its debt, worth an additional £1.9bn.

1andrew1

17-10-2019 20:11

Re: House of Fraser in trouble...

Quote:

Originally Posted by richard s (Post 36014126)

Sign of the times I suppose... any way another British owned company being sold off to foreign investors a good or bad thing.

https://news.sky.com/story/greene-ki...eover-11789261

With a cheap pound, it's rude not to. We've seen a number of large companies succumb to takeovers since June 2016 due to the weakened pound. That being said, CK seems a good owner having brought the UK 3 Mobile and owned Superdrug for a number of years.

Carth

17-10-2019 20:47

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 36014253)

We've seen a number of large companies succumb to takeovers since June 2016 . . . .

You can go back a lot further than that :p:

denphone

18-10-2019 20:01

Re: House of Fraser in trouble...

Bonmarché appoints administrators.

https://www.bbc.co.uk/news/business-50094937

Quote:

Women's fashion chain Bonmarché has appointed administrators, putting the future of the business in doubt.

Quote:

"We have spent a number of months examining our business model and looking for alternatives. But we have been sadly forced to conclude that under the present terms of business, our model simply does not work," she added.

pip08456

18-10-2019 20:46

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36014354)

Bonmarché appoints administrators.

https://www.bbc.co.uk/news/business-50094937

Then change the model.

denphone

18-10-2019 21:25

Re: House of Fraser in trouble...

Quote:

Originally Posted by pip08456 (Post 36014364)

Then change the model.

Somehow l cannot see them doing that.

1andrew1

21-10-2019 23:18

Re: House of Fraser in trouble...

Quote:

Originally Posted by pip08456 (Post 36014364)

Then change the model.

If you're in administration you can't - it's the administrators - typically accountancy firms - who oversee the company on a super short-term basis in order to sell its assets.

denphone

22-10-2019 06:29

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 36014685)

If you're in administration you can't - it's the administrators - typically accountancy firms - who oversee the company on a super short-term basis in order to sell its assets.

l think pip is talking about changing the model before administration Andrew.;)

pip08456

22-10-2019 11:32

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36014698)

l think pip is talking about changing the model before administration Andrew.;)

Correct.

heero_yuy

25-10-2019 10:25

Re: House of Fraser in trouble...

Quote:

Quote from The Sun:

https://www.cableforum.uk/board/atta...8&d=1562846859

The owner of hairdressing chain Supercuts has gone into administration putting 1,200 jobs at risk.

Deloitte says it's been appointed as an administrator for Regis UK and International Beauty Limited.

Regis UK operates around 220 hairdressing salons around the UK, primarily under the Regis and Supercuts brands and employs around 1,200 people in total.

But Deloitte says the salons will continue trading as normal while "options are explored".

It adds that no redundancies or store closures are being announced yet.

There was me thinking that hairdressing was a growth industry. :D

tweetiepooh

25-10-2019 10:54

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36014952)

There was me thinking that hairdressing was a growth industry. :D

Around here "Turkish Barbers" keep appearing. What's the difference? Is it just the owners are Turkish or is there a difference is style?

The other growth groups are tattoos and vape shops. Neither of interest to me.

Traders to stay open need that "value add" but how to do that in a way that you don't the work and the punter still goes online to get the same item cheaper.

Hugh	25-10-2019 11:07

Re: House of Fraser in trouble...

Turkish barbers tend to do shaves as well.

heero_yuy

25-10-2019 11:14

Re: House of Fraser in trouble...

Don't they wrap your head on hot damp towels as well?

denphone

25-10-2019 11:54

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36014952)

There was me thinking that hairdressing was a growth industry. :D

Our cousin does mine with my clippers although there is less hair to clip once you enter grey hair territory.;)

Hugh	25-10-2019 11:59

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36014955)

Don't they wrap your head on hot damp towels as well?

Your face, yes.

denphone

04-11-2019 09:54

Re: House of Fraser in trouble...

Mothercare is to appoint administrators for its UK high street chain, putting 2,500 jobs at risk.

https://www.theguardian.com/business...0-jobs-at-risk

Quote:

The mother-and-baby-goods retailer said its UK retail operations, which comprise 79 stores, lost £36.3m last year and after a review it had become clear that the business would not return to profitability.

mrmistoffelees

04-11-2019 10:09

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hugh (Post 36014954)

Turkish barbers tend to do shaves as well.

And nose/ear waxing as well

One of my treats is every fortnight going and getting hair cut, beard trimmed. the relevant bits that have hair that shouldn't have hair sorted.

Come out feeling like a new pin, shame the feeling only lasts a day :(

Carth

04-11-2019 10:32

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36016049)

Mothercare is to appoint administrators for its UK high street chain, putting 2,500 jobs at risk.

https://www.theguardian.com/business...0-jobs-at-risk

I was quite surprised when I saw that . . thought they'd gone years ago :shrug:

denphone

04-11-2019 10:37

Re: House of Fraser in trouble...

Quote:

Originally Posted by Carth (Post 36016056)

I was quite surprised when I saw that . . thought they'd gone years ago :shrug:

They have been in trouble for a while but like some other companies they have failed to adapt to a fast changing market.

Carth

04-11-2019 10:49

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36016058)

They have been in trouble for a while but like some other companies they have failed to adapt to a fast changing market.

Gonna stick my neck on the block here and say that 'failing to adapt' probably means 'unable to churn out cheap crap like Amazon do' ;)

denphone

04-11-2019 11:10

Re: House of Fraser in trouble...

Quote:

Originally Posted by Carth (Post 36016062)

Gonna stick my neck on the block here and say that 'failing to adapt' probably means 'unable to churn out cheap crap like Amazon do' ;)

That is one of the reasons but there are others like Ebay , cheap poorly produced imported rubbish , a poor online presence , a market incumbent inertia.

Carth

04-11-2019 11:22

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36016065)

That is one of the reasons but there are others like Ebay , cheap poorly produced imported rubbish , a poor online presence , a market incumbent inertia.

Nail well and truly smacked with hammer mate. :)

Chris

04-11-2019 11:28

Re: House of Fraser in trouble...

On the contrary, the baby products market is one in which people are prepared to spend an absolute fortune. A huge chunk of the market is occupied by highly technical or extremely personalised stuff that retails for a king’s ransom. What Mothercare has failed to appreciate is that people are motivated enough to research online to get exactly the kit they want, rather than choosing from the limited range in a Mothercare branch (some of which is indeed appalling tat). Their business model seems to have been to assume that as babies keep being born, people would keep shopping in Mothercare. That wasn’t the case even 16 or so years ago when the Mrs and I were in the market for baby kit and I doubt it’s the case now. Even back in the relatively early days of the web, we did our research online, knew what was out there, what we wanted, and how little of it was available in a Mothercare shop.

Carth

04-11-2019 11:52

Re: House of Fraser in trouble...

Point taken (and conceded) on Mothercare, but there's still an awful lot of crap out there on the net masquerading as decent stuff. :D

1andrew1

04-11-2019 22:00

Re: House of Fraser in trouble...

Quote:

Originally Posted by Chris (Post 36016069)

Great post. People are prepared to spend good money on children, pets and other things if you tap their needs correctly.

denphone

10-11-2019 16:51

Re: House of Fraser in trouble...

Clintons in survival talks over shop closures and rent cuts.

https://www.bbc.co.uk/news/business-50365605

Quote:

The retailer, which has about 2,500 staff, is in restructuring talks with landlords in another sign of the High Street crisis.

Carth

10-11-2019 16:56

Re: House of Fraser in trouble...

Just seen that, the theme of landlord rents crops up quite a lot in these cases.
One would have thought that, in these times of failing businesses, a lower rent would be of more use to a landlord than no rent?

denphone

10-11-2019 17:01

Re: House of Fraser in trouble...

Quote:

Originally Posted by Carth (Post 36016742)

Just seen that, the theme of landlord rents crops up quite a lot in these cases.
One would have thought that, in these times of failing businesses, a lower rent would be of more use to a landlord than no rent?

Indeed that was my thinking as something is better then nothing l always find but as most of these landlords are big retail land companies they seem uncompromising and inflexible.

nomadking

10-11-2019 20:02

Re: House of Fraser in trouble...

Just as with buying any sort of property, it's costs money to repay the loans/mortgage.

The bigger picture is that even with zero rents and zero business rates, the shops would struggle.

1andrew1

11-11-2019 00:56

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36016744)

Indeed that was my thinking as something is better then nothing l always find but as most of these landlords are big retail land companies they seem uncompromising and inflexible.

They all seem to be agreeing to the CVAs which suggests they are being flexible.
One issue they face is that when they do it for one tenant, the other tenants request a reduction too. This impacts the returns they provide for their owners, typically pension funds. And pensioners are not usually keen to accept lower pensions. ;)

heero_yuy

20-01-2020 16:20

Re: House of Fraser in trouble...

Quote:

Quote from The Sun:

https://www.cableforum.uk/board/atta...8&d=1562846859

Department store chain Beales has gone into administration, putting 23 stores and 1,052 jobs at risk.

The drastic move follows failed efforts to find a buyer amid poor Christmas trading and sky high rents.

KPMG has been appointed as administrator to the Bournemouth-headquartered chain.

Founded in 1881, Beales operates 23 department stores in market towns across the UK selling a range of furniture, fashion, toys and cosmetics. It employs circa 1,052 members of staff.

Will Wright, partner at KPMG and joint administrator, said: “For over a hundred years, Beales has been a stalwart of the high street in market towns up and down the UK, but like countless similar retailers, has found trading in recent times to be incredibly tough.

This is a big store in our main High Street, four floors I think. Only just up the road from Debenhams that is also teetering.

Stephen

20-01-2020 16:56

Re: House of Fraser in trouble...

Link for those not wanting to read The Sun

BBC News - Department store Beales collapses into administration
https://www.bbc.co.uk/news/business-51176418

Quote:

.One of Britain's oldest department stores has collapsed into administration, putting more than 1,000 jobs at risk.

denphone

20-01-2020 17:10

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36023198)

This is a big store in our main High Street, four floors I think. Only just up the road from Debenhams that is also teetering.

Sadly unless there is proper long term change with a series of measures to help our High Street the High Street as we know it will not exist in the future in its current form..

nomadking

20-01-2020 18:02

Re: House of Fraser in trouble...

Quote:

Originally Posted by denphone (Post 36023205)

Sadly unless there is proper long term change with a series of measures to help our High Street the High Street as we know it will not exist in the future in its current form..

Like what? Rents and rates aren't the problem, as the sales are not there in the first place for so many shops. The big superstores sell so much of everybody's regular and more occasional needs that they don't need to go elsewhere.

Hom3r

20-01-2020 19:14

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36023198)

This is a big store in our main High Street, four floors I think. Only just up the road from Debenhams that is also teetering.

Beecles is buggered then, most of the shops are Beales, I was there in 2018.

---------- Post added at 18:14 ---------- Previous post was at 18:11 ----------

I blame scandelous rents charged by landlords, then out out of date trading laws that restrict Sunday trading hours.

I the late 80's I worked for W.H.Smith Do It All, I worked 9 till 6 on Sundays along with colledge students, now I can buy something on Saturday and get it delivered on Sunday before the shops open.

Thats why the high street is suffering.

Chris

20-01-2020 21:39

Re: House of Fraser in trouble...

High streets are suffering because businesses there pay businesses rates, in return for which they get bugger all, except for badly designed pedestrianisation schemes, dirty streets with cracked pavements, overflowing bins and outrageously expensive council run car parks, and because the shops themselves charge more for a narrower range of goods. Out of town centres far better because they’re under cover, and usually clean, and the parking is free. Internet shopping does best of all because it’s always open, doesn’t pay business rates and offers a broader range of products.

It’s worth mentioning by the way that there are no restrictions on Sunday trading hours in Scotland but there’s no evidence high streets are doing any better here than elsewhere. It’s a combination of factors, not just one thing.

Damien

20-01-2020 21:50

Re: House of Fraser in trouble...

I wish we got rid of the Sunday trading laws anyway, it's so annoying to suddenly remember you need 'x or y' and you can't just get it.

nomadking

20-01-2020 21:57

Re: House of Fraser in trouble...

Business rates and rents have always been there. The complaints are that people aren't visiting the high streets and buying anything. Rents and rates are immaterial in that.

Chris

20-01-2020 22:04

Re: House of Fraser in trouble...

Quote:

Originally Posted by nomadking (Post 36023252)

Business rates and rents have always been there. The complaints are that people aren't visiting the high streets and buying anything. Rents and rates are immaterial in that.

Eh? Of course they’re material.

They are part of the cost of doing business in a high street. They are part of the reason why products cost more in a high street shop than from a web store like Amazon. The cost per square foot is one of the factors restricting the size of shops, in turn restricting the range of products on offer, again in comparison to the seemingly limitless choices on sites like Amazon.

Shoppers are not dim witted. They know they get less choice for more money on the high street, and are beginning to stay away in droves. The places making a fist of resisting this trend are the ones which can credibly sell themselves as a destination, so a family might make a day out of it and do some shopping amidst the eating and coffee stops.

Pierre

20-01-2020 22:20

Re: House of Fraser in trouble...

High streets need to change, and are changing, to places of leisure. bars, cafes, restaurants, boutique shops etc.

Large department stores will exist mainly in large Malls.

nomadking

20-01-2020 22:54

Re: House of Fraser in trouble...

Quote:

Originally Posted by Chris (Post 36023253)

If you're not selling anything then even if rent and rates were zero, you'd still be making a loss. The restricting factors on size of shops are the physical buildings, along with parking availability. The elephant in the room on costs is the minimum wage.

How much of what Amazon provides has ever been on the high street? Eg just try finding the same range(type, length, colour) of HDMI cables anywhere else. Just not possible. It's impossible for any shop to provide the huge range from a variety of different manufacturers that is available nowadays.

Hugh	26-01-2020 16:31

Re: House of Fraser in trouble...

Quote:

Originally Posted by nomadking (Post 36023256)

If you're not selling anything then even if rent and rates were zero, you'd still be making a loss. The restricting factors on size of shops are the physical buildings, along with parking availability. The elephant in the room on costs is the minimum wage.

How much of what Amazon provides has ever been on the high street? Eg just try finding the same range(type, length, colour) of HDMI cables anywhere else. Just not possible. It's impossible for any shop to provide the huge range from a variety of different manufacturers that is available nowadays.

But they are selling things and their rent and rates aren't zero, so your straw man argument is invalid (unlike Chris's points, which are based in the real world).

nomadking

26-01-2020 17:57

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hugh (Post 36023658)

But they are selling things and their rent and rates aren't zero, so your straw man argument is invalid (unlike Chris's points, which are based in the real world).

The bigger stores may still be selling some things, but is it enough to cover their costs, even if rents and rates were zero? Rents and rates haven't suddenly been sprung on them from nowhere, they've been there all along. Reducing rents and rates isn't going to have that much of an impact. The frequent complaint is that less people are visiting the high street in the first place, therefore they can't be buying that much.
Link

Quote:

Shoppers are making fewer visits to High Streets.
The retail analytics company Springboard tracks footfall in main towns and cities. It's seen a decline in numbers for the past few years.
...
Consumers are still shopping, of course. But even with the rise of online, shops need people to walk through the door.

Quote:

But the overall picture is the UK has too many shops, they're too big and in the wrong locations. The winners will be the companies that know what their consumers want and give it to them, with great service and products they want to buy.

Link

Quote:

The number of people visiting the region's high streets has fallen by almost a quarter in the past decade.
Exclusive figures for ITV reveal the scale of the problem across the East.
In the last decade (2009-2019), the number of people visiting high streets in the Anglia region has fallen by 23.5%. This is higher than the national average of 20.5%, according to the Local Data company, who produced the figures for ITV's Tonight programme.

Hugh	26-01-2020 18:06

Re: House of Fraser in trouble...

You didn't say "some things", you said "if you're not selling anything"

Pierre

26-01-2020 18:06

Re: House of Fraser in trouble...

Quote:

Originally Posted by nomadking (Post 36023213)

Rents and rates may not be “the” problem, but they are part of the problem.

nomadking

26-01-2020 18:30

Re: House of Fraser in trouble...

Quote:

Originally Posted by Hugh (Post 36023665)

You didn't say "some things", you said "if you're not selling anything"

You forgot the bit before.

Quote:

people aren't visiting the high streets and buying anything.

If they're not visiting the high st, they can't be buying anything from there.

---------- Post added at 17:30 ---------- Previous post was at 17:21 ----------

Quote:

Originally Posted by Pierre (Post 36023666)

Rents and rates may not be “the” problem, but they are part of the problem.

Stores would still be closing, people would still not be visiting, people would still not be buying.

Were the stores that have closed, making enough to cover the staffing costs, before rents and rates were included?

Carth

26-01-2020 22:06

Re: House of Fraser in trouble...

Our high street is that quiet that even the beggars have stopped attending

heero_yuy

17-03-2020 10:41

Re: House of Fraser in trouble...

Quote:

Quote from The Sun Money:

https://www.cableforum.uk/board/atta...8&d=1562846859

Carphone Warehouse will close all of its 531 standalone stores next month, in a move that will lead to 2,900 job losses.

The store closures are part of a plan to turn around the retailer's mobile business, its parent company Dixons Carphone said.

The retailer expects another 1,800 staff affected by the store closures to be able to find new jobs within the business.

There are Carphone Warehouse shops inside 305 big PC World and Curry's stores, and these won't be affected by the changes.

Carphone Warehouse said customers will be be able to go to the big stores for service while mobile offers will still be available online and the carphonewarehouse.com site will remain open.

The standalone stores, which represent 8 per cent of Dixons Carphone’s total selling space in the UK, will close on April 3.

Rationalisation: No point in having a separate store open if there's a local PC World or Curry's that can do the same thing in house.

heero_yuy

17-03-2020 14:31

Re: House of Fraser in trouble...

Pop goes another one:

Quote:

Quote from The Sun:

https://www.cableforum.uk/board/atta...8&d=1562846859

LAURA Ashley has collapsed into administration after talks to rescue the chain failed due to the coronavirus, putting 2,700 jobs at risk.

The clothing and furnishing retailer has been struggling with tough high street conditions and recently warned that it needed a £15million loan to survive.

It had been doing well during the seven weeks to March 13, with trading up 24 per cent on the same period a year earlier.

However, it said the coronavirus has "had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national situation".

It added that its main shareholder MUI Asia Limited won't be able to step in with the money which is needed in time.

Laura Ashley said it hired advisers from PricewaterhouseCoopers (PwC) to oversee the administration on Tuesday.

If the whole country gets shut down there'll be many more failures like this as many retailers, pubs, restaraunts and hotels are teetering on the brink.

denphone

17-03-2020 14:47

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36027731)

Pop goes another one:

If the whole country gets shut down there'll be many more failures like this as many retailers, pubs, restaraunts and hotels are teetering on the brink.

l have just seen the chief executive of UK Hospitality, which represents the industry who believes the industry is facing a existential threat unless it gets help from the government.

RichardCoulter

17-03-2020 18:21

Re: House of Fraser in trouble...

Absolutely. If some businesses don't receive financial help within two to three weeks, they will be going into administration.

denphone

17-03-2020 18:26

Re: House of Fraser in trouble...

Quote:

Originally Posted by RichardCoulter (Post 36027755)

Absolutely. If some businesses don't receive financial help within two to three weeks, they will be going into administration.

Chancellor Rishi Sunak £330bn of government-back loans and guarantees.

He also promises three-month mortgage holidays.

https://www.bbc.co.uk/news/live/world-51921683

heero_yuy

27-03-2020 15:30

Re: House of Fraser in trouble...

Quote:

Quote from The Sun:

https://www.cableforum.uk/board/atta...8&d=1562846859

Rent-to-own firm BrightHouse is on the brink of collapse putting 2,400 jobs at risk.

The high-cost credit firm will file for administration on Monday, reports Sky News, and will appoint accountancy firm Grant Thornton as administrators.

The firm had been struggling to stay afloat due to a surge in compensation claims over irresponsible lending.

But now investors have withdrawn support for a proposed restructuring plan amid the coronavirus crisis.

BrightHouse has had to shut up shop in line with new government rules to stop the spread of COVID-19 and protect the "health and wellbeing of our staff and customers".

Not sure how many will weep for the loss of this rip off company.

Paul	27-03-2020 15:31

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36029236)

Not sure how many will weep for the loss of this rip off company.

At least 2,400 :td:

Quote:

..... putting 2,400 jobs at risk.

1andrew1

27-03-2020 15:42

Re: House of Fraser in trouble...

Quote:

Originally Posted by heero_yuy (Post 36029236)

Not sure how many will weep for the loss of this rip off company.

Its customers who stand to receive less/no compensation now for being ripped off.

RichardCoulter

27-03-2020 18:47

Re: House of Fraser in trouble...

Primark is refusing to pay it's rent:

https://www.telegraph.co.uk/business...outbreak-ends/

1andrew1

27-03-2020 18:59

Re: House of Fraser in trouble...

Carluccio's looks set to fail to with 2,000 jobs going.
https://www.bbc.co.uk/news/business-52070151

denphone

27-03-2020 19:11

Re: House of Fraser in trouble...

Quote:

Originally Posted by 1andrew1 (Post 36029252)

Carluccio's looks set to fail to with 2,000 jobs going.
https://www.bbc.co.uk/news/business-52070151

Ouch!! Andrew as there will be many more who go by the wayside sadly in the coming months as the full economic consequences of the Coronavirus lockdown starts to play out.

All times are GMT +1. The time now is 20:53.

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