In administration

[VWD]

On 3/2/2018 at 18:29, gadgetman said:

 

With same day delivery in most areas now with Amazon, the high Street as we know it can't last much longer. 

One problem with Maplin is that they restrict stock to WEB ONLY, then look for a delivery charge of almost £3 if under £10. Compare this to Argos, who will deliver almost next day to a store FOR FREE. For almost £3 Maplin send by post to stores, when most folks wouldn't mind a delivery taking a few days, free, and sent on a routine store stock update. e.g. I was looking at a cheap ABSbox from Maplin- COST CIRCA £1.5 Total = £4.5. But then locally I've got an RS depot, where I can click and collect ( tomorrow), for less than Maplin. It's simple- as supermarkets are finding out- provide goods at the right price, or customers will shop elsewhere. 

[CWARD]

Shops will become more like showrooms. People still want to physically touch items before committing to buy. Then order the item to be delivered. Quite a few shops are doing this already mainly on the larger or more expensive items. 

[mannyo]

Talking Maplin again,

 

In Stevenage Maplin recently closed the store on a good retail complex, with good parking. The old store was great, it had a parts counter and you could buy almost anything there and then and it was in stock, even obscure items.

 

They opened a new store about 300 yards from the old one, however this new store had changed the company focus. Gone was the parts counter, replaced by a small selection of parts which you could pick from a dozen drawers at the back of the store. The store sold a fraction of the products available at the old one, despite being externally a similar size. What took up some of this space, a stall from a mobile repair business Maplin had recently gone into partnership with, iSmash. Parking for the new complex they moved to is woefully under provided considering what else is on the park, so you can never park there and have to walk across a busy road and up steep stairs to get to the store. Given the proliferation of mobile repair businesses within less than 1/2 mile with easy parking it was another nail in the coffin.

 

After they moved, I never went in as they never had anything I couldn't get online next day and could do without the parking hassle.

[gadgetman]

Restaurants are next on the list with 35% of big chains now loss making. 

 

Most are closing branches, but for some this won't be enough. They can't even fill seats with constant 50% off deals because of stale menus or because they're not currently trendy. 

[gadgetman]

New look the latest on the brink. 60 store closures, a CVA and begging for landlords to cut rents by up to 50%

 

 

[lol-lol]

2 hours ago, gadgetman said:

New look the latest on the brink. 60 store closures, a CVA and begging for landlords to cut rents by up to 50%

The near 1,000 High job at the 60 New look stores seem to tell off a fairly even map of potential closures across the UK as I thought in might be m ore of a North-South divide but apparently the downturn is UK wide.     https://www.getsurrey.co.uk/news/uk-world-news/new-look-closures-see-full-14384061

======================================================================================

New Look stores identified for potential closure:

• Aberdeen - Bon Accord;
• Beckton;
• Bolton Mens;
• Borehamwood;
• Brynmawr;
• Burton Mens;
• Cameron Toll;
• Cardiff - Queen Arcade;
• Cheshunt;
• Clevedon;
• Craigleith;
• Doncaster Mens;
• Dundee – Wellgate;
• Exeter Mens;
• Fleet;
• Gateshead - Team Valley;
• Glasgow - Buchanan Street Mens;
• Gorleston;
• Hanley Mens - Intu Potteries;
• Hounslow Mens;
• Hull – Whitefriargate;
• Keynsham;
• Kingswood;
• Leeds - The Core Shopping Centre;
• Leicester – Haymarket;
• London - Marble Arch;
• London - Moorgate/ London Wall;
• London - Oxford Circus;
• Maidenhead;
• Maidstone Mens;
• Merry Hill Mens;
• Metro Centre – Mens;
• Monmouth;
• Newport Mens;
• Newton Mearns;
• North Shields;
• Nottingham Mens;
• Ocean Terminal;
• Peterbrough Bridge Street;
• Pontypool;
• Portswood;
• Ramsgate;
• Reading - Broad Street;
• Reading Oracle Mens;
• Rhyl;
• Romford Mens;
• Rugby;
• Shrewsbury Mens;
• Sidmouth;
• Stockport – Merseyway;
• Stockton-on-Tees;
• Stratford Upon Avon -Bridge Street;
• Thornaby;
• Tonypandy;
• Torquay - Union Street;
• Tredegar;
• Troon;
• Wallsend;
• Weston Favell;

• Wigan Mens

[CWARD]

My wife’s cousin has been proved right. She was a regional manager for New Look and complained at the time over the multiple branches been opened in the same towns not increasing turnover but diluting it over more stores. Looking at the list lol-lol posted she was spot on. 

[Chris]

On 09/03/2018 at 09:18, CWARD said:

My wife’s cousin has been proved right. She was a regional manager for New Look and complained at the time over the multiple branches been opened in the same towns not increasing turnover but diluting it over more stores. Looking at the list lol-lol posted she was spot on. 

 

Seeing it more and more. Look at B&M. It won't end well..

[Guest FurryFriend]

To get back to the In Administration topic. 

 

Half the problem these days is that when you go into a High street store, and they don't have what you want, the first thing they say is the completely inane....We can order one for you. 

 

To which my answer is always. Well yes, believe it or not, I can do that myself  

 

Appreciated shops can't stock everything, but to me,  the whole point of taking the trouble to physically visit a shop is to see, feel, check out and buy a product there and then if it's suitable. 

 

We went to buy a waterproof coat for our dog recently at Pets at Home. Complete waste of time. 

 

I'm sorry to see Maplins go, as I build  the odd electrical  project, but I am not at all surprised that Toys R Us have gone. Last time my wife and I darkened  their soulless, cold warehouse type doors to buy a gift for one of our grandchildren, we both agreed that we had never seen such a load of  grossly overpriced plastic and battery reliant rubbish in our lives. No wonder it's gone bust. Market stall stuff at Harrods prices. 

 

I feel sorry for the staff in such places. How you're supposed to look enthusiastic selling such complete garbage beats me. 

 

I hope they all find better jobs anyway. 

 

 

[lol-lol]

Tens of thousands of jobs in customs clearance coming up!

[Guest]

My local Maplin is having a 'Closing Down' sale. 

 

The CCTV system I was interested in has 10% off, £540 down from £599.

 

Two weeks ago it was £399.

[gadgetman]

On 10/03/2018 at 13:08, Chris said:

 

Seeing it more and more. Look at B&M. It won't end well..

Or Costa's. 

 

Look how many stores there are in a town, then concessions in Next and other stores too. 

 

Town has 7 Costa's. How is that sustainable? All that's happened is they've killed off the good independents and racheted up their rent portfolio. 

[Aspman]

https://www.theregister.co.uk/2018/03/14/maplin_prices_still_higher_in_closing_down_sale/

 

"Maplin shut down sale prices still HIGHER than rivals"

 

Also ALL Toys R Us stores to close.

[moley]

While some restaurant chains are in trouble wetherspoons profits are up 36%.

[@Lee]

17 minutes ago, moley said:

While some restaurant chains are in trouble wetherspoons profits are up 36%.

but warned that sales will be lower over the next six months as the pubs chain is hit with rising costs.

http://metro.co.uk/2018/03/16/pro-brexit-jd-wetherspoon-issues-profit-warning-hit-rising-costs-7391959/

 

 

[mac11irl]

On 12/03/2018 at 15:33, gadgetman said:

Or Costa's. 

 

Look how many stores there are in a town, then concessions in Next and other stores too. 

 

Town has 7 Costa's. How is that sustainable? All that's happened is they've killed off the good independents and racheted up their rent portfolio. 

 

Our town of about 18k-20k people has 2 Costas. One at each end of the town basically.. i really dont see how they can sustain it long term, as the 2locations are in high rent commercial units. Add to that how many franchise coffee stations are in all the filing stations around with coffee as good if not better than costa cheaper...

 

But, people love it (at the moment) as they are new to the town, so still have a touch of the new and shiny about them. Its where the millenials and middle classes go for their trendy beverages.. for now..

[mac11irl]

On Maplin, also have stores in Ireland,

 

I have used them for buying random bits and pieces. And they always had the best "ireland" rates on components. They were basically the only place to get stuff once Petes closed the doors in Dublin. 

But, i was also lucky - my dad had a vat number, and for some reason an account with Radionics in the UK. Way back when punt was stronger than sterling, i could get anything i wanted from Radionics for 30% less than in ireland. I built a decent spec pc from scratch from their catalogue for half the price Dell were charging. I also got all the components for my friend to build his own speakers for the surround sound amp he got from his uncle for a fraction the same stuff wouldve cost in ireland.

This was late 90's v early 00's... I did my ordering by FAX

 

[CWARD]

ToysRus and missing £580 million

https://www.msn.com/en-gb/money/company-news/the-hunt-for-toys-r-us-missing-millions-investigators-probe-a-£580m-loan-moved-to-a-tax-haven-just-months-before-the-store-went-bust/ar-BBKkt8f?li=BBx1bGE

[moley]

On 3/16/2018 at 10:31, Lee01 said:

but warned that sales will be lower over the next six months as the pubs chain is hit with rising costs.

http://metro.co.uk/2018/03/16/pro-brexit-jd-wetherspoon-issues-profit-warning-hit-rising-costs-7391959/

 

 

Tim Martin has cited pay and utilities increases which will impact on profits in the next six months, but he is very Critical of Jamie Oliver's sugar tax, which as he pointed out that Jamie couldn't afford to pay. 

Quote

Explaining the cost pressures, Mr Martin told the BBC's Today Programme: “Pay is going up quite a lot, which a lot of people think is good, all sorts of taxes, and Jamie Oliver’s sugar tax, which he got us to pay but couldn’t afford to pay himself, is costing us £3m alone. “That’s a bit more than the increase in rates.”

 

[gadgetman]

You know things are bad when Bargain booze/Wine rack throw in the administrative towel. 

 

Parent company also supplies bars, pubs etc 

 

http://www.bbc.co.uk/news/business-43576991

[Rooted]

T.O.M. Vehicle Rental in Scotland goes under.

http://bbc.co.uk/news/uk-scotland-glasgow-west-43569903 

[lol-lol]

Time to consider whether the "Recession" word is starting to apply.

 

Whilst the technical definition of two quarters of negative growth is fine but very backward looking ie one has probably been in a recession for more than half a year by the time the term is coined as applicable.

 

It is starting to feel like a recession and in my industry of logistics we are hearing of companies look to cut back their holdings and staffing over the next few weeks and month.

 

With the impact of inflation over the last two years caused by the BREXIT result affect on currency rates of exchange and the lack of wage growth in comparison to this inflation meaning diminishing spending power of most people is result in many marginal business becoming unviable and this has a cascade affect on other industries.

 

Lots of news, such as the Salisbury poisonings, to divert away from the deepening economic woes, doubt it will slow down the Russian investment in the UK economy and politicians so at least some sectors will be OK.      

[Rooted]

Open your eyes.

Look at all the Luxury Homes being built and selling. Prestige Car dealerships selling / leasing. 

Golf Club, Airport, Marina Car Parks.  The roads at gridlock.  The potholes.

The Sport and Music events sold out, the price of tickets.  The Cricket, football, rugby etc in other countries and those that fly / sail out to those events.

Then those Cruise Ships that people sail out of the UK on or fly out to meet them.

 

The recession if there is one is only hitting some, not all and not those that have enough or more than enough so not just 'About getting by'.

Not many Accountants or Tax Advisers going out of business are there?

 

Loads of employment opportunities in the British Isles, maybe more will need to be happy to take £7.85 an hour as the hourly rate though.

Employees needed everywhere around the UK. 

Pothole filling would be a start, affordable home building,  people counting in and out visitors to the UK, because Theresa May MP as the Home Secretary and the Amber Rudd MP seemed to lose count, and also forgot that cutting staff in important jobs was a bit stupid.

 

ID Cards would be an idea, National Insurance / NHS cards with a Photo and Security measures on it for the use of Tax Payer Services would be an idea.

Community Charge / Poll Tax would be an idea as well, all details on the National Insurance / NHS Card.

[moley]

9 hours ago, lol-lol said:

Time to consider whether the "Recession" word is starting to apply.

Recession?

Retail companies struggling does not make a recession, usually there is a flaw in their business model, in the case of bargain booze a £30m tax bill, which is is bad accounting if you can't work out your tax liabilities.  

Lets talk up a recession and get rid of the Tories. Then we can get Corbyn in and have a proper recession!

 

 

 

 

 

 

 

[CWARD]

What Lol-Lol is trying to say is have a happy Easter and enjoy your long weekend. Unfortunately he only knows doom and gloom words, so finds it hard to express that sentiment.