40 Stores to Close... (part 2)

Money, investing, mutuals etc

Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Fri Jul 27, 2018 11:28 am

expressman33 wrote:
Boro Boy wrote:
Constantine wrote:
If you read the article you'll see that M&S has a pension surplus as does Next, So whilst the headline refers to a £1.5billion High Street pension time bomb, those two firms have a £1 billion surplus.



Myself I think the indication is that no matter what the state (small surplus or deficit) of the pension, as these companies cut back on their shops and staff then the gathered contributions reduce but their liabilities will continue to grow - result is a millstone what could sink them. :think:


As the number of staff that pay into the scheme reduces then the liabilities will grow less quickly , as long as the investments grow as expected then there should be no problems



Not neccessarily; Staff in Final Salary Schemes may have left employment but they remain a liability to the scheme; additionally as the employees & ex-employees grow older the number claiming from the scheme will increase but now with a reduced flow of funds into the scheme it becomes a millstone to the employer. :ugeek:

These schemes work well with a growing work force but with a shrinking work force and a growing liability it all becomes problematical...!
Boro Boy
 
Posts: 2817
Joined: Mon Sep 15, 2014 5:05 pm
Location: London
Has thanked: 882 times
Been thanked: 1662 times

Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Sun Aug 05, 2018 11:39 pm

One closure (pending) that I will not get too upset about: https://news.sky.com/story/william-hill ... t-11459226

Thanked by: blythburgh
Boro Boy
 
Posts: 2817
Joined: Mon Sep 15, 2014 5:05 pm
Location: London
Has thanked: 882 times
Been thanked: 1662 times

Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Fri Aug 10, 2018 9:33 am

A store (and job) rescue but does this mean the House of Fraser will be selling the Magpies footie shirts going forward? : https://www.msn.com/en-gb/money/compani ... spartanntp

Deal done! ;)

Thanked by: blythburgh
Boro Boy
 
Posts: 2817
Joined: Mon Sep 15, 2014 5:05 pm
Location: London
Has thanked: 882 times
Been thanked: 1662 times

Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Sat Aug 11, 2018 9:38 am

Now I know for sure the High Street has problems...! M&S to start new store closure plan: https://www.bbc.co.uk/news/business-45143404

I can't see all these staff members who are getting laid off from all the different closures all getting new jobs..! Yet they say the jobless figures are falling! :eh:

Thanked by: blythburgh
Boro Boy
 
Posts: 2817
Joined: Mon Sep 15, 2014 5:05 pm
Location: London
Has thanked: 882 times
Been thanked: 1662 times

Re: 40 Stores to Close... (part 2)

Postby blythburgh » Sat Aug 11, 2018 9:43 am

The most chilling part of the House of Fraser "resue" was the man who said he feared the suppliers would not be paid what they were owed and that some would go out of business.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler
blythburgh
 
Posts: 12922
Joined: Tue Jun 29, 2010 6:14 pm
Location: The Far East
Has thanked: 32350 times
Been thanked: 6759 times

Re: 40 Stores to Close... (part 2)

Postby William Joseph1 » Sat Aug 11, 2018 11:40 am

blythburgh wrote:The most chilling part of the House of Fraser "resue" was the man who said he feared the suppliers would not be paid what they were owed and that some would go out of business.

Is this not a fact of life and normal practice when a company gets liquidated. Been happening for hundreds of years. Not sure why you are highlighting it, but do you have any suggestions for how it can be done differently?

Thanked by: blythburgh
William Joseph1
 
Posts: 10172
Joined: Tue Jun 29, 2010 7:14 pm
Location: The Isle of Dreams
Has thanked: 4710 times
Been thanked: 9277 times

Re: 40 Stores to Close... (part 2)

Postby blythburgh » Sun Aug 12, 2018 9:15 am

Why I found it chilling is the way House of Fraser has been taken over, Ashley wanted it and was determined to get it on the cheap and to hell with any business that suffers or goes out of business.

But we already know Ashley is a low life even amongst big businessmen
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

Thanked by: William Joseph1
blythburgh
 
Posts: 12922
Joined: Tue Jun 29, 2010 6:14 pm
Location: The Far East
Has thanked: 32350 times
Been thanked: 6759 times

Re: 40 Stores to Close... (part 2)

Postby William Joseph1 » Sun Aug 12, 2018 9:22 am

It happens all the time. Nothing new or different from many other business(sic) people out there. He is rich so I guess it works for his measure of success. Not my sort of morals but it takes all types to make up the varied world we live in. You and I are not going to change it in anyway.

Thanked by: blythburgh
William Joseph1
 
Posts: 10172
Joined: Tue Jun 29, 2010 7:14 pm
Location: The Isle of Dreams
Has thanked: 4710 times
Been thanked: 9277 times

Re: 40 Stores to Close... (part 2)

Postby planteria » Sun Aug 12, 2018 10:00 am

SD are going to take the business on the best terms they can, and build/use it to their advantage from that point. on the face of it, if they keep the stores open and keep those thousands in employment then it is much better news than their was coming out of HoF: no one can expect Mike Ashley to decide to pay suppliers money that he doesn't need to pay.

Thanked by: blythburgh
planteria
 
Posts: 4887
Joined: Tue Nov 23, 2010 4:52 pm
Location: Going down the Wednesbury Road
Has thanked: 367 times
Been thanked: 1356 times

Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Sun Aug 12, 2018 10:38 am

planteria wrote:SD are going to take the business on the best terms they can, and build/use it to their advantage from that point. on the face of it, if they keep the stores open and keep those thousands in employment then it is much better news than their was coming out of HoF: no one can expect Mike Ashley to decide to pay suppliers money that he doesn't need to pay.



But plans have already been announced in the North East to close the HoF Binns group of stores... and talk is the Oxford Street London Flagship Store will be sold off separately... :think:

Thanked by: blythburgh
Boro Boy
 
Posts: 2817
Joined: Mon Sep 15, 2014 5:05 pm
Location: London
Has thanked: 882 times
Been thanked: 1662 times

PreviousNext

Return to Finance & property

Who is online

Users browsing this forum: Bing [Bot] and 3 guests