40 Stores to close....

Money, investing, mutuals etc

Re: 40 Stores to close....

Postby Boro Boy » Mon Feb 12, 2018 10:36 am

...another one that bit the dust in the last ten years: Netto
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Re: 40 Stores to close....

Postby William Joseph1 » Mon Feb 12, 2018 10:46 am

Boro Boy wrote:...another one that bit the dust in the last ten years: Netto
Netto was a danish discounter which went into an unsuccessful partnership with Sainsbury eventually the stores were sold to Asda.

Not really sure where this thread is going. All it does is demonstrate that we have an ever evolving and sometime volatile retail sector in the UK.

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Re: 40 Stores to close....

Postby Constantine » Mon Feb 12, 2018 12:31 pm

Boro Boy wrote:...

Three more Building Societies vanishing within the last ten years: Chelsea BS + The Bristol & West BS + Northern Rock BS :wave:

:


The Bristol & West BS became a bank in 1997 and was bought by the Bank of Ireland. The Northern Rock BS became a bank in 1997. So the last twenty one years. :)

The Chelsea was bailed out by the Yorkshire in 2010.

And don't forget the Dunfermline BS which did go pop in 2009.

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Re: 40 Stores to close....

Postby Constantine » Mon Feb 12, 2018 12:43 pm

And as far as building societies are concerned, there are 44 of them left. Here's the list from the BSA
https://www.bsa.org.uk/BSA/files/4c/4c9 ... e943e0.pdf

The Nationwide is (of course) no 1. But it looks to me as if it's bigger than the other 43 put together.

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Re: 40 Stores to close....

Postby timco » Mon Feb 12, 2018 1:51 pm

William Joseph1 wrote:
Boro Boy wrote:...another one that bit the dust in the last ten years: Netto
Netto was a danish discounter which went into an unsuccessful partnership with Sainsbury eventually the stores were sold to Asda.


Not in the correct order not correct in fact.

Netto was in the UK in its own right and yes when it exited the first time it sold the stores to ASDA who then sold most of them to Morrissons for their ill fated locals set-up.

The 50/50 partnership with Sainsburys was a trial only using a small number of existing small Sainsburys stores which were too small for a main store too big for a local and not in the right areas fora metro store so faced with closure were used first in this trial.

After evaluation of the trial Sainsburys decided for two main reasons to not go ahead.
1. the cost of developing the partnership would be greater than the perceived benefit of it.
2. They had just bought Argos and they thought the energies available were better spent on this than in developing the arrangement with Netto.

Not sure it is fair to call a trail ill fated when the trial did the job it was set-up to do.

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Re: 40 Stores to close....

Postby Boro Boy » Mon Feb 12, 2018 1:56 pm

Constantine wrote:
Boro Boy wrote:...

Three more Building Societies vanishing within the last ten years: Chelsea BS + The Bristol & West BS + Northern Rock BS :wave:

:


The Bristol & West BS became a bank in 1997 and was bought by the Bank of Ireland. The Northern Rock BS became a bank in 1997. So the last twenty one years. :)

The Chelsea was bailed out by the Yorkshire in 2010.

And don't forget the Dunfermline BS which did go pop in 2009.


Frightening to think Northern Rock was 21 years ago...! :o
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Re: 40 Stores to close....

Postby planteria » Tue Feb 13, 2018 9:37 am

timco wrote:Not in the correct order not correct in fact.


there was a Danish involvement at one stage, though :think:. i remember trying to establish contact with a buyer there at one stage.

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Re: 40 Stores to close....

Postby Boro Boy » Tue Feb 13, 2018 12:36 pm

Boro Boy wrote:
Constantine wrote:
Boro Boy wrote:...

Three more Building Societies vanishing within the last ten years: Chelsea BS + The Bristol & West BS + Northern Rock BS :wave:

:


The Bristol & West BS became a bank in 1997 and was bought by the Bank of Ireland. The Northern Rock BS became a bank in 1997. So the last twenty one years. :)

The Chelsea was bailed out by the Yorkshire in 2010.

And don't forget the Dunfermline BS which did go pop in 2009.


Frightening to think Northern Rock was 21 years ago...! :o


Lots of regional stores have gone - one in the North East I recall was Hintons

Others have been taken over and "rescued", Boots as an example was bought/merged with the American giant Walgreen's...
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Re: 40 Stores to close....

Postby blythburgh » Tue Feb 27, 2018 10:07 am

expressman33 wrote:
William Joseph1 wrote:
pabenny wrote:I think you're merging conventional savings stamps and the dividend stamps. These were effectively the clubcard points of the day and were given on all purchases - their purpose was to return a share of profits to members based on the amount they spent. They largely disappeared in the late 70s/early80s. I don't recall why the Co-op dropped them - probably a response to waning profitability
They were never dropped but morphed with the electronic age into the Co-op membership card. as previously mentioned they now have a very generous loyalty card system where you can earn 5% in cash rewards for yourself and 2% I think for local good causes.


5% for you and 1% for local causes near you , but only on co-op products , rewards for you must be spent instore


I emailed them to ask why I only get 1% and got this reply:

Thank you for your email.



Please be advised that the 5% discount on Co-op branded products is a members benefit offered by the Co-operative Group society. This benefit is available to C-op Group members only within Co-op Group stores. Co-op Group have a different blue branding to differentiate themselves from regional societies.



As an independent society, Central England Co-op has its own membership and reward scheme offering 1% return on purchases made within our stores.



I trust this helps clarify the differences.



Kind Regards,


Katie Halley
Membership Advisor

Central England Co-operative Limited
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

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Re: 40 Stores to close....

Postby Boro Boy » Tue Feb 27, 2018 2:18 pm

blythburgh wrote:


I emailed them to ask why I only get 1% and got this reply:

Thank you for your email.



Please be advised that the 5% discount on Co-op branded products is a members benefit offered by the Co-operative Group society. This benefit is available to C-op Group members only within Co-op Group stores. Co-op Group have a different blue branding to differentiate themselves from regional societies.



As an independent society, Central England Co-op has its own membership and reward scheme offering 1% return on purchases made within our stores.



I trust this helps clarify the differences.



Kind Regards,


Katie Halley
Membership Advisor

Central England Co-operative Limited


Thats interesting, I thought the Co-op's nationally came under the same scheme... :eh:

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