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House of Fraser in trouble...
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Old 12-08-2018, 13:15   #166
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Re: House of Fraser in trouble...

To me the business rate system as it stands is not fit for the 21st century..

https://www.citymetric.com/business/...gh-street-4087

https://www.jewelleryfocus.co.uk/234...it-for-purpose

https://www.thesun.co.uk/news/699549...ts-kill-shops/

https://www.telegraph.co.uk/business...usiness-rates/
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Old 12-08-2018, 20:05   #167
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Re: House of Fraser in trouble...

Totally agree. Legislation always catches up with technology and business rates do need to be addressed. Otherwise, shopping centre owners will just sell up.
Unfortunately, the Government's energies are taken up with other things at the moment.
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Old 13-08-2018, 06:29   #168
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Re: House of Fraser in trouble...

More job losses and store closures on the way this week.

Quote:
The DIY chain Homebase is expected to reveal the closure of up to 80 stores this week as job losses from Britain’s high streets total more than 30,000.
https://www.theguardian.com/business...b-losses-mount
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Old 13-08-2018, 13:38   #169
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Re: House of Fraser in trouble...

They're talking about taxing online retailers more to level the playing field. Trouble is, many pay little or nothing in tax to the UK as it is!

---------- Post added at 13:38 ---------- Previous post was at 13:36 ----------

Quote:
Originally Posted by 1andrew1 View Post
Totally agree. Legislation always catches up with technology and business rates do need to be addressed. Otherwise, shopping centre owners will just sell up.
Unfortunately, the Government's energies are taken up with other things at the moment.
Yes, Brexit has taken up most of the Government's time. In some situations this has been a bad thing, yet in others it's been a good thing as it's stopped them from meddling!
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Old 13-08-2018, 19:12   #170
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Re: House of Fraser in trouble...

Quote:
Originally Posted by RichardCoulter View Post
They're talking about taxing online retailers more to level the playing field. Trouble is, many pay little or nothing in tax to the UK as it is!
Depends on the company. Amazon UK are NOT the retailer. AO are a retailer. Some with a "high street" presence, also have online ordering, eg Argos, PC World, Currys, John Lewis.
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Old 13-08-2018, 21:25   #171
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Re: House of Fraser in trouble...

Quote:
Originally Posted by nomadking View Post
Depends on the company. Amazon UK are NOT the retailer. AO are a retailer. Some with a "high street" presence, also have online ordering, eg Argos, PC World, Currys, John Lewis.
Good point. Easy to say but harder to implement.

---------- Post added at 21:25 ---------- Previous post was at 21:22 ----------

As others have predicted:
Quote:
Mike Ashley’s Sports Direct on Monday hired property giant CBRE to oversee House of Fraser’s property portfolio, fuelling rumours some stores may close.
https://www.standard.co.uk/business/...-a3910076.html

Hopeully, there may be a reprieve for some of the stores that the old management was scheduled to close. Maybe Den will still have a House of Fraser nearby for his Chrimbo shopping.
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Old 14-08-2018, 04:28   #172
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Re: House of Fraser in trouble...

Quote:
Originally Posted by 1andrew1 View Post
Good point. Easy to say but harder to implement.

---------- Post added at 21:25 ---------- Previous post was at 21:22 ----------

As others have predicted:

https://www.standard.co.uk/business/...-a3910076.html

Hopeully, there may be a reprieve for some of the stores that the old management was scheduled to close. Maybe Den will still have a House of Fraser nearby for his Chrimbo shopping.
That remains to be seen Andrew as my hunch is quite a few stores will still close and sadly thousands of jobs will go as Mike Ashley has a reputation as a asset stripper.
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Old 14-08-2018, 10:34   #173
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Re: House of Fraser in trouble...

Quote:
Quote from The Sun:


Homebase will close 42 stores putting 1,500 jobs at risk.

The new owner of the DIY chain Hilco Capital is due to unveil the plans later today in the latest blow to the high street.

Last week, Sky News reported that we could expect the firm to announce that it was closing 62 branches but it's believed that the true figure is less.

The firm is expected to outline a Company Voluntary Agreement (CVA) today that will include plans to close roughly 40 of it's 246 branches.

The precise number of jobs at risk is also unknown until is it announced what stores will be closed, but experts are speculating that it could be as much as 1,500 - or about 10 per cent of the workforce.
Fewer branches closing but that's about the only good thing here.
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Old 14-08-2018, 20:27   #174
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Re: House of Fraser in trouble...

Quote:
Originally Posted by denphone View Post
That remains to be seen Andrew as my hunch is quite a few stores will still close and sadly thousands of jobs will go as Mike Ashley has a reputation as a asset stripper.
Well, those 31 condemned House of Fraser stores like yours would have closed by now under the previous management so he's given them a bit of a stay of execution. It's also important to remember that the shops are rented so he doesn't really have many assets to strip. Maybe just a few Mannequins!
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Old 17-08-2018, 09:30   #175
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Re: House of Fraser in trouble...

Quote:
Quote from The Sun:


House of Fraser has cancelled all online orders after an ongoing row with the retailer's warehouse operator over pay delayed deliveries.

The troubled retailer has wiped thousands of customers' orders that have not already been sent out.

Controversial Sports Direct owner Mike Ashley stepped in last week to save the retailer from going bust, buying the chain for £90million cash but its online side of the business has already struggling to keep going.

The chain took its website offline and furious customers were fuming over delayed or failed deliveries.

The retailer will be automatically issuing refunds to customers who placed orders that haven't been processed yet.

The disruption is down to a dispute between a key warehouse for the retailer run by XPO Logistics and Sports Direct over delivery payment terms, according to The Times.
Times story on red link above. (Registration required)
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