Re: House of Fraser in trouble...
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Re: House of Fraser in trouble...
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The weaker players are the ones that are being wiped but as we're seeing with restaurant chains like Jamie's, Prezzo, and Byron all shedding outlets, there's a real squeeze across the board occurring, not just old-fashioned stores that face online competition, it's people trading down from nights out to nights in. |
Re: House of Fraser in trouble...
Debenhams in trouble too.
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Re: House of Fraser in trouble...
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Re: House of Fraser in trouble...
Seems to be the case that 6,000 have lost their jobs in the two months of 2018 compared to 12,000 in all of 2017, 26,000 in all of 2016 and 7,000 in all of 2015.
So, yes, 2018 is shaping up to be a bad year for retail but there have been worse years in the past. Big list here for those interested http://www.retailresearch.org/whosegonebust.php |
Re: House of Fraser in trouble...
Sadly the list still has a fair way to go yet Andrew according to retail experts as there are quite a few big retail chains who are pretty deeply entrenched in the brown sauce.
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A massive and alarming list indeed . . and not finished yet.
Regarding clothing (fashion) I think the impact of 'value' shops like Primark have had a massive influence. The large supermarket chains also do an increasing range of clothing - not top quality stuff, but who cares when you can buy a suit for £50 and throw it away after a few months. Casual wear, shoes, jeans, tops etc are now cheap as chips (which is a silly saying considering the price of a bag of sliced fried potato), and it's the price general consumers are looking at instead of quality. With electronics, anything you buy today is probably superseded by a 'fantastic upgraded bells & whistles must have' version by next week, buy it online now for £££££ cheaper than instore :rolleyes: Personally I think we import far too much dross from abroad, in all areas not just clothing, but while people are willing to buy it nothing will change. |
Re: House of Fraser in trouble...
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Re: House of Fraser in trouble...
Yep, we're past our sell by date indeed :D
oh, and I've just returned from a trip to the retail park - where I went round in circles in the queue for 5 minutes trying to get parked - then decided not to bother after all. Yesterday I accompanied the wife into town, something I rarely do (I must be ill) and although it was free parking we had a choice of about 200 free parking bays. My observation was that there is nothing left on the high street to tempt shoppers in any volume, and if retailers want to survive they need to move to where the footfall is. However, this in turn leads to a revenue loss for the landlords and local council . . and a financial loss to the council won't bode well for the supply (and cost) of services they provide. It's a game eh, and we're all just playing it the best way we can |
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https://www.themanufacturer.com/uk-m...ng-statistics/ The UK is one of the top 10 manufacturing economies of the world. I think that still fits the definition of ‘a true world manufacturing great’. |
Re: House of Fraser in trouble...
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Meanwhile, back to House of Fraser with the news that its main shareholder has sold its controlling stake to a tourism development company named Wuji Wenhua. http://www.independent.co.uk/news/bu...-a8241931.html And at Debenhams, it's now renting out space to hot deskers! https://www.theguardian.com/business...to-hot-deskers |
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Affected stores list |
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Re: House of Fraser in trouble...
More high street misery:
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