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

1andrew1 01-07-2020 20:26
Re: Changes on the High Street
 
Quote:
Originally Posted by denphone (Post 36041822)
Upper Crust and Caffè Ritazza owner to cut 5,000 jobs.

https://www.theguardian.com/business...up-coronavirus
Very sad.
Not good for SSP's peers either.
WH Smith thought they were escaping the woes of the high street by focusing on travel outlets. Into the furnace from the fire.

denphone 01-07-2020 21:10
Re: Changes on the High Street
 
Quote:
Originally Posted by 1andrew1 (Post 36041928)
Very sad.
Not good for SSP's peers either.
WH Smith thought they were escaping the woes of the high street by focusing on travel outlets. Into the furnace from the fire.
Sadly this is just the start l fear Andrew as in the last 2 day UK firms have slashed more than 12,000 jobs.

https://www.bbc.co.uk/news/business-53247787

denphone 02-07-2020 18:56
Re: Changes on the High Street
 
More job cuts have just been annouced as Café Rouge and Bella Italia owner falls into administration.

https://www.bbc.co.uk/news/business-53270679

Quote:
Ninety one Casual Dining Group outlets will close immediately, and 1,900 of the firm's 6,000 staff will lose their jobs.

jfman 04-07-2020 01:37
Re: Changes on the High Street
 
Quote:
Originally Posted by denphone (Post 36042033)
More job cuts have just been annouced as Café Rouge and Bella Italia owner falls into administration.

https://www.bbc.co.uk/news/business-53270679
In some respects this is all good news.

We need to lose the concept of property as an asset to extract revenue from. Less high street outlets = oversupply of units and should push rents down for everyone else. In a best case scenario (if unlikely) of some being sold off to businesses who actually want to operate there. Extracting the financial sector parasite from the economy altogether.

nomadking 04-07-2020 08:13
Re: Changes on the High Street
 
Quote:
Originally Posted by jfman (Post 36042261)
In some respects this is all good news.

We need to lose the concept of property as an asset to extract revenue from. Less high street outlets = oversupply of units and should push rents down for everyone else. In a best case scenario (if unlikely) of some being sold off to businesses who actually want to operate there. Extracting the financial sector parasite from the economy altogether.
How would a business starting up, afford to buy the premises instead? Who pays for the property to be built and maintained? How would it work in a collection of units in a building?



Too much over-expansion in the cafe/restaurant sector. High risk at the best of times.

Hom3r 04-07-2020 13:15
Re: Changes on the High Street
 
Quote:
Originally Posted by Mr K (Post 36041466)
I've still.got the same £50.cash in my wallet that I took out of a cashpoint in Feb. Will we ever use cash again ?
Quote:
Originally Posted by papa smurf (Post 36041472)
I did the same I've got £40 left.
Quote:
Originally Posted by Sephiroth (Post 36041485)
Ditto.
I have about £60 in change and notes.

My local takeaway has always been cash only.

TBH I only use cash on items under £5 if I have change.

papa smurf 04-07-2020 13:22
Re: Changes on the High Street
 
Quote:
Originally Posted by Hom3r (Post 36042308)
I have about £60 in change and notes.

My local takeaway has always been cash only.

TBH I only use cash on items under £5 if I have change.
I got some more out of the cash machine yesterday cos i'm going to Norfolk and they don't do technology that was invented after 1970.

jfman 04-07-2020 13:32
Re: Changes on the High Street
 
Quote:
Originally Posted by nomadking (Post 36042268)
How would a business starting up, afford to buy the premises instead? Who pays for the property to be built and maintained? How would it work in a collection of units in a building?

Too much over-expansion in the cafe/restaurant sector. High risk at the best of times.
The properties already exist nomad.

How do people afford homes? Loans.

Same principles apply without the need for parasite landlords.

nomadking 04-07-2020 13:49
Re: Changes on the High Street
 
Quote:
Originally Posted by jfman (Post 36042310)
The properties already exist nomad.

How do people afford homes? Loans.

Same principles apply without the need for parasite landlords.
Not all properties are over a hundred years old. Many new shopping areas are built, especially alongside new housing developments.


What idiots are going to lend to a potential small business, especially ones of the type with a high failure rate. With homes, the funding for repayments is already in place, ie salaries.


Many businesses don't make enough to run with zero rent, so paying off a mortgage is just not going to happen.



Still leaves, who pays for the upkeep, especially common areas in a centre.

Sephiroth 04-07-2020 15:51
Re: Changes on the High Street
 
It’s a very complex question. People might think landlords are leeches. But, particularly for large modern developments, landlords have to fund the construction. So they borrow the money and have to make repayments. Further up the chain, pension funds who have invested, receive dividends.

Dropping down the chain, tenants without customers means no oaying rent. Ultimately exposed pension funds can’t pay out.

One major mess that has yet to explode properly.

jfman 04-07-2020 19:53
Re: Changes on the High Street
 
Quote:
Originally Posted by nomadking (Post 36042311)
Not all properties are over a hundred years old. Many new shopping areas are built, especially alongside new housing developments.
The age is irrelevant.

Quote:
What idiots are going to lend to a potential small business, especially ones of the type with a high failure rate. With homes, the funding for repayments is already in place, ie salaries.
Businesses get loans all the time, sometimes secured against assets - like land or premises.

Quote:
(Many businesses don't make enough to run with zero rent, so paying off a mortgage is just not going to happen.
If businesses aren’t viable then they go bust - that’s capitalism with or without parasite landlords.
Quote:
Still leaves, who pays for the upkeep, especially common areas in a centre.
Councils?

Paul 05-07-2020 00:35
Re: Changes on the High Street
 
Quote:
Originally Posted by jfman (Post 36042261)
In some respects this is all good news.
Yes, Im sure all those people losing their jobs are just delighted. :dozey:

jfman 05-07-2020 00:45
Re: Changes on the High Street
 
Quote:
Originally Posted by Paul (Post 36042375)
Yes, Im sure all those people losing their jobs are just delighted. :dozey:
However a more sustainable high street would result in more employment opportunities and more stable employment for those in the sector.

Short term pain for long term gain.

heero_yuy 05-07-2020 15:28
Re: Changes on the High Street
 
Quote:
Quote from The Sun: CAFE chain Pret a Manger is set to close as many as 45 of its UK high street stores in a move that would put up to 800 jobs at risk, it has been reported.

Pret has been struggling during the coronavirus​ lockdown with the company already confirming that it's been losing "tens of millions of pounds each month".

Pano Christou, the cafe chain's chief executive, will make an announcement on the future of the stores this Wednesday, June 8, according to The Mail on Sunday​.

The newspaper reports how the move is set to impact almost one in ten of Pret's 434 UK branches, as well as up to 800 of its 8,000 employees.

A Pret spokesman told The Mail on Sunday: "We will update our team members in early July once the plan has been finalised."

denphone 05-07-2020 15:33
Re: Changes on the High Street
 
If Pret a Manger are struggling then that bodes ill for many other businesses on the High Street.


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