Crashing Companies

[Sir Creep 7,082]

13 hours ago, alt obits guy said:

Sears Holdings to close 48 Sears stores and 15 K-Mart stores.

 

http://money.cnn.com/2018/05/31/news/companies/sears-stores-closing/index.html

 

Jeesh...do they have any locations left?  

K-Mart was such an institution it’s sad to watch it die a slow and ugly death.  But it’s deserved.

SC

[philheybrookbay 439]

Rumours abound that House of Fraser to enter administration this evening.

[the_engineer 1,415]

On 01/06/2018 at 17:11, philheybrookbay said:

Rumours abound that House of Fraser to enter administration this evening.

 

https://www.thesun.co.uk/money/6445497/house-of-fraser-store-closures/

 

https://www.dailystar.co.uk/news/latest-news/707242/House-of-Fraser-closures-which-stores-are-retail-news-Oxford-Street-London

 

Plans for store closures, including its flagship oxford street store. I think they're f**ked

[maryportfuncity 10,718]

3 minutes ago, the_engineer said:

 

https://www.thesun.co.uk/money/6445497/house-of-fraser-store-closures/

 

https://www.dailystar.co.uk/news/latest-news/707242/House-of-Fraser-closures-which-stores-are-retail-news-Oxford-Street-London

 

Plans for store closures, including its flagship oxford street store. I think they're f**ked

 

 

Aye - more real estate becoming available than yer average British high street knows how to use

 

I mean, there are openings for cult businesses here - like a cafe specialising in dead pooling, or summat

[the_engineer 1,415]

6 hours ago, maryportfuncity said:

 

 

Aye - more real estate becoming available than yer average British high street knows how to use

 

I mean, there are openings for cult businesses here - like a cafe specialising in dead pooling, or summat

 

If the UK legalised weed it could fill those empty shops up fast with weed shops,barkeries,clubs,cafes etc.The possibilities are vast and it would be a huge boost to the economy. It's only a matter of time anyway before it's legalised in Europe and north America.The UK could get ahead of the game and ahead of the EU.

[En Passant 3,761]

45 minutes ago, the_engineer said:

 

If the UK legalised weed it could fill those empty shops up fast with weed shops,barkeries,clubs,cafes etc.The possibilities are vast and it would be a huge boost to the economy. It's only a matter if time anyway before it's legalised in Europe and north America.The UK could get ahead if the game and ahead of the EU.

The weed shops would definitely make the pastie shops more popular.

And since the poor old bookies won't be able to pay the rent now their spawn of satan FoBT's are reduced in rip-off-per-spin there might be even more spaces. Win Win.

[gcreptile 11,167]

I noticed more empty shops in my street, too. They can't all be filled with barbers and kebab shops. I wonder if there is a retail industry crash coming - well... I guess it has been happening for years, with the internet and all, but there must be a similar collapse of rental and housing prices.

[maryportfuncity 10,718]

48 minutes ago, gcreptile said:

I noticed more empty shops in my street, too. They can't all be filled with barbers and kebab shops. I wonder if there is a retail industry crash coming - well... I guess it has been happening for years, with the internet and all, but there must be a similar collapse of rental and housing prices.

 

 

One way some owners of high street space have been trying to cope is by pushing up rental prices which is one of the reasons some of the chains are now looking at cutting the number of outlets. 

 

Yeah, weed shops within sniffing distance of the local Greggs might be the future. 

[Bibliogryphon 9,666]

11 hours ago, maryportfuncity said:

 

 

Aye - more real estate becoming available than yer average British high street knows how to use

 

I mean, there are openings for cult businesses here - like a cafe specialising in dead pooling, or summat

The decor should be full of hourglasses and there would be a wall where photos of  the current Deathlist celebs are arranged. By the till there will be a pad of paper and patrons would be asked to contribute the name of a celeb who they are surprised is still alive.

[maryportfuncity 10,718]

3 hours ago, Bibliogryphon said:

The decor should be full of hourglasses and there would be a wall where photos of  the current Deathlist celebs are arranged. By the till there will be a pad of paper and patrons would be asked to contribute the name of a celeb who they are surprised is still alive.

 

 

Aye, and window seats and free coffee for anyone turning up who is also in that year's DL top 50!

[Bibliogryphon 9,666]

38 minutes ago, maryportfuncity said:

 

 

Aye, and window seats and free coffee for anyone turning up who is also in that year's DL top 50!

I'm Stanley Baxter and I claim my free Latte.

[the_engineer 1,415]

Aston Villa .   Two rogue/mercenary owners in a row might finish them off. Bring back deadly doug I say !! I have a few aston villa fans as friends and I remember them saying how doug never spent money and he was always too safe. The club has gone down the tubes since he left best to be careful what you wish for.

 

https://news.sky.com/story/aston-villa-suspends-ceo-as-club-races-to-meet-hmrc-tax-bill-11395857

 

The owner has f###ed off back to beijing and the CEO has been suspended , they have a week to pay or they'll be wound up. Keith was suspended for telling the owner we need to pay the tax bill or have to file for administration .

[philheybrookbay 439]

It’s the lack of footfall in high streets which is real killer. Let’s face it, most people have had a pay squeeze here for nearly 9 years. I finally got a 4% payrise this year after 1% in each of the last 8. 

 

Plus us as an example- Howick shirt in House of Fraser £40. Exact same shirt on Amazon £5.

 

Polo shirt for holiday from Burtons £12. Exactly the same from a warehouse on eBay £1.99. All that’s missing is the Burtons label. 

[maryportfuncity 10,718]

Some prime property becoming available for major dead pooling centres in big British cities, courtesy of House of Fraser

 

Link:https://www.bbc.co.uk/news/business-44394948

[time 8,697]

14 minutes ago, maryportfuncity said:

Some prime property becoming available for major dead pooling centres in big British cities, courtesy of House of Fraser

 

Link:https://www.bbc.co.uk/news/business-44394948

At the other end of the retail spectrum Poundworld is poised to enter administration.

[the_engineer 1,415]

I have a feeling the future of the high street is student flats and below them fast food ,a tesco express, pound shops and pawn shops.Its like that in some high streets now.

 

I do wonder if this is critical mass for bricks and mortar shops and the impact of the internet has only finally caught up.The UK shop and buy online more than most countries in europe aswell. Only Norway buys more online,be interesting to see if something similar is going on in there. 18% of all retail sales are now online, so you'd expect to lose 18% of all shops. I guess it not as simple as that and it feels like at least 1/4 are closing but combine that with higher rental rates and less spending money it looks like it won't stop at house of Fraser .

[msc 18,599]

8 minutes ago, the_engineer said:

I have a feeling the future of the high street is student flats and below them fast food ,a tesco express, pound shops and pawn shops.Its like that in some high streets now.

 

I do wonder if this is critical mass for bricks and mortar shops and the impact of the internet has only finally caught up.The UK shop and buy online more than most countries in europe aswell. Only Norway buys more online,be interesting to see if something similar is going on in there. 18% of all retail sales are now online, so you'd expect to lose 18% of all shops. I guess it not as simple as that and it feels like at least 1/4 are closing but combine that with higher rental rates and less spending money it looks like it won't stop at house of Fraser .

 

Sounds like the present!

 

Most of the shops going are ones where you can get the stuff cheaper elsewhere: Toys R Us for example.

 

Note Smiths have moved into travel and online and the profit from both is offsetting the high street losses. Currently they offer subscriptions online with home delivery - suspect within 5 years tops they'll offer individual mags with home delivery. Those that diversify survive, those that don't tend to get passed by.

 

Anyhow, if House of Fraser goes, hope someone decent moves into the Glasgow building  - it's a lovely bit of architecture indoors. Was in there once, to meet someone. Security thought I looked like a shoplifter. Not their usual clientele!

[maryportfuncity 10,718]

1 hour ago, time said:

At the other end of the retail spectrum Poundworld is poised to enter administration.

 

So, sell the chain for £1

[Toast 16,264]

5 minutes ago, msc said:

Note Smiths have moved into travel and online and the profit from both is offsetting the high street losses. Currently they offer subscriptions online with home delivery - suspect within 5 years tops they'll offer individual mags with home delivery. Those that diversify survive, those that don't tend to get passed by.

 

WH Smith used to have a travel agency back in the 80s, not sure when they stopped, so this isn't a new venture.

They've also started to house Post Offices in towns where the dedicated PO has closed.  That encourages footfall.

[maryportfuncity 10,718]

28 minutes ago, the_engineer said:

I have a feeling the future of the high street is student flats and below them fast food ,a tesco express, pound shops and pawn shops.Its like that in some high streets now.

 

I do wonder if this is critical mass for bricks and mortar shops and the impact of the internet has only finally caught up.The UK shop and buy online more than most countries in europe aswell. Only Norway buys more online,be interesting to see if something similar is going on in there. 18% of all retail sales are now online, so you'd expect to lose 18% of all shops. I guess it not as simple as that and it feels like at least 1/4 are closing but combine that with higher rental rates and less spending money it looks like it won't stop at house of Fraser .

 

Fuck me that's depressing

 

Not a sniff of a knocking shop or weed cafe

[msc 18,599]

1 minute ago, Toast said:

 

WH Smith used to have a travel agency back in the 80s, not sure when they stopped, so this isn't a new venture.

They've also started to house Post Offices in towns where the dedicated PO has closed.  That encourages footfall.

 

Aye, our local PO is a Smiths too. Otherwise it'd be a trip into town.

[Dead Wait 1,159]

32 minutes ago, the_engineer said:

I have a feeling the future of the high street is student flats and below them fast food ,a tesco express, pound shops and pawn shops.Its like that in some high streets now.

 

I do wonder if this is critical mass for bricks and mortar shops and the impact of the internet has only finally caught up.The UK shop and buy online more than most countries in europe aswell. Only Norway buys more online,be interesting to see if something similar is going on in there. 18% of all retail sales are now online, so you'd expect to lose 18% of all shops. I guess it not as simple as that and it feels like at least 1/4 are closing but combine that with higher rental rates and less spending money it looks like it won't stop at house of Fraser .

The bit about pound shops being part of the future is probably flawed on the basis that Poundworld with 500 stores is at risk of closing down.......

[time 8,697]

24 minutes ago, maryportfuncity said:

 

So, sell the chain for £1

Sir Philip Green sold BHS for £1...

[maryportfuncity 10,718]

1 hour ago, the_engineer said:

I have a feeling the future of the high street is student flats and below them fast food ,a tesco express, pound shops and pawn shops.Its like that in some high streets now.

 

I do wonder if this is critical mass for bricks and mortar shops and the impact of the internet has only finally caught up.The UK shop and buy online more than most countries in europe aswell. Only Norway buys more online,be interesting to see if something similar is going on in there. 18% of all retail sales are now online, so you'd expect to lose 18% of all shops. I guess it not as simple as that and it feels like at least 1/4 are closing but combine that with higher rental rates and less spending money it looks like it won't stop at house of Fraser .

 

 

Then again, there are LOADS of football clubs who had to build stadia miles from the town centre because planning permission and costs obliged them to do that. 

 

Might be some agreeably sited new builds coming our way soon. Which - whether you like footy or not - is putting some community activity in there.

[Toast 16,264]

1 minute ago, maryportfuncity said:

 

 

Then again, there are LOADS of football clubs who had to build stadia miles from the town centre because planning permission and costs obliged them to do that. 

 

Might be some agreeably sited new builds coming our way soon. Which - whether you like footy or not - is putting some community activity in there.

 

Doubling as handily-placed concert venues.