Changes on the High Street
10-08-2018, 23:05
|
#151
|
Bah Humbug!!
Join Date: Feb 2004
Location: Glasgow
Age: 43
Services: Sky Q 2Tb, Sky Q mini, boxsets and Sports & Movies HD, Sky Fibre unlimited
Posts: 13,919
|
Re: House of Fraser in trouble...
Until Ashley's well known dodgy work and employment practices appear at HoF.
__________________
AMD Ryzen 7 7700 | 32GB DDR5 6000 | RADEON 7900XT | WD 2TB NVME
|
|
|
10-08-2018, 23:27
|
#152
|
cf.mega poster
Join Date: Jan 2008
Posts: 10,177
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by Chris
It’s worse for the landlords if a chain goes bankrupt and they immediately lose 100% of the income, then have to apply to the liquidator to try to recover back rent. All the CVA process really does is force intransigent creditors to confront economic reality, which in turn may lessen the frequency and severity of these massive job loss news stories.
|
Yes, many commercial landlords simply will not face economic reality and renegotiate rents to save businesses. They would rather have nothing than something, in addition, they then have to pay the business rates, for security and insurance.
I once read that the reason is because, for accounting purposes, they can include empty properties in their figures for the rent that is being asked for. If they agreed to lower the rent, the figure would have to be the new lower rent. How true this is I don't know, but if this is correct, creative accounting cannot replace hard cash.
Also, some commercial landlords ask for a percentage of the profit that a business makes. It was this that stopped us from signing up to a property a few years ago as they refused to drop this clause in the lease. The property remained empty for another three years before being let, so they lost out in the end.
|
|
|
11-08-2018, 05:43
|
#153
|
Still alive and fighting
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,378
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by Stephen
Think I'd rather see them go under than be bought by that idiot.
|
Indeed one wonders what plans he has for it Stephen.
__________________
“The only lesson you can learn from history is that it repeats itself”
|
|
|
11-08-2018, 10:26
|
#154
|
cf.mega poster
Join Date: Jul 2004
Location: At the Leaving door
Posts: 4,050
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by denphone
Indeed one wonders what plans he has for it Stephen.
|
Sell a few off to Aldi/Lidl
Convert a few to affordable housing (one bed flats)
Rent a few out to Amazon as local distribution centers
Convert a few to health clubs, night clubs, restaurants, etc
Give a few out as a bonus to his players
|
|
|
11-08-2018, 10:47
|
#155
|
cf.mega poster
Join Date: Dec 2013
Posts: 14,335
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by Stephen
Until Ashley's well known dodgy work and employment practices appear at HoF.
|
At least people have some breathing space and ongoing wages now to start looking for other jobs if they feel that Sports Direct is not for them.
|
|
|
11-08-2018, 16:17
|
#156
|
cf.mega poster
Join Date: Jan 2008
Posts: 10,177
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by 1andrew1
At least people have some breathing space and ongoing wages now to start looking for other jobs if they feel that Sports Direct is not for them.
|
True, but it must be humiliating for staff. A bit like M&S being bought by Aldi!
|
|
|
11-08-2018, 18:09
|
#157
|
ofc.founder_member
Join Date: Mar 2005
Location: Camberley
Services: VIP 60
Posts: 894
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by RichardCoulter
True, but it must be humiliating for staff. A bit like M&S being bought by Aldi!
|
Not as humiliating as being unemployed and there being no other jobs to go to
|
|
|
11-08-2018, 20:42
|
#158
|
Permanently Banned
Join Date: Jan 2012
Location: Near France
Services: Tivo XL
150mb broadband
L phone
Posts: 1,817
|
Re: House of Fraser in trouble...
Well the Dinosaurs became extinct and so the story continues with these mega shops. Sad it may be.
|
|
|
11-08-2018, 21:10
|
#159
|
Sad Doig Fan!
Join Date: Aug 2007
Location: Barry South Wales
Age: 68
Services: With VM for BB 250Mb service.(Deal)
Posts: 11,681
|
Re: House of Fraser in trouble...
The dinosaurs didn't see it coming either.
|
|
|
11-08-2018, 22:11
|
#160
|
cf.mega poster
Join Date: Jan 2008
Posts: 10,177
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by gba93
Not as humiliating as being unemployed and there being no other jobs to go to
|
I'm sure there will be some that would have rather taken the redundancy payment than end up working for the likes of Ashley, I know what you mean though.
---------- Post added at 22:11 ---------- Previous post was at 22:10 ----------
Quote:
Originally Posted by pip08456
the dinosaurs didn't see it coming either.
|
🤣🤣🤣
|
|
|
12-08-2018, 06:05
|
#161
|
Still alive and fighting
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,378
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by gba93
Not as humiliating as being unemployed and there being no other jobs to go to
|
Indeed as being unemployed can happen to anybody wherever they are in the ladder.
__________________
“The only lesson you can learn from history is that it repeats itself”
|
|
|
12-08-2018, 10:11
|
#162
|
cf.mega poster
Join Date: Dec 2013
Posts: 14,335
|
Re: House of Fraser in trouble...
Quote:
Originally Posted by RichardCoulter
I'm sure there will be some that would have rather taken the redundancy payment than end up working for the likes of Ashley, I know what you mean though.
|
They would have been statutory redundancy payments so most people would be better off staying at HoF under Ashley and using it as breathing space to try and find something else if they didn't like him as an employer.
|
|
|
12-08-2018, 11:26
|
#163
|
Mum 15/08/46 - 30/09/20
Join Date: Mar 2004
Location: Galactic Sector ZZ9 Plural Z Alpha, A secret Moonbase (shh don't tell anybody)
Age: 55
Services: 1 V6, 2x1TB TiVo, SH3. Samsung Galaxy Note 10+ 5G, Ton's of Smart Home stuff, & Cuddy Toy
Posts: 16,955
|
Re: House of Fraser in trouble...
The main problem with stores, is mainly the exorbitant rent the landlords charge.
As in housing in my town you pay £500pm for a room in a house.
__________________
I'm a Trustee & Secretary for a local charity
STAY AT HOME: I found out that mum will never walk again as the coronavirus attacked her nervous system. She died on September 30th.
|
|
|
12-08-2018, 12:12
|
#164
|
Still alive and fighting
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,378
|
Re: House of Fraser in trouble...
A lot of these city and town centre landlords are huge commercial property development and investment companies now as here are just two of them as they also have major shopping centres and out-of-town retail parks as well in their portfolios.
https://en.wikipedia.org/wiki/British_Land
https://en.wikipedia.org/wiki/Landsec
__________________
“The only lesson you can learn from history is that it repeats itself”
|
|
|
12-08-2018, 13:03
|
#165
|
cf.mega poster
Join Date: Apr 2004
Location: Northampton
Services: Virgin Media TV&BB 350Mb,
V6 STB
Posts: 7,867
|
Re: House of Fraser in trouble...
Their sales have been going down. Rents and business rates aren't going to change that. The level of sales must have been at a level making rent and rates affordable at some point in time.
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT +1. The time now is 05:05.
|