40 Stores to Close... (part 2)

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

Postby blythburgh » Tue Aug 14, 2018 9:04 am

Constantine wrote: Capitalism ain't so bad. It's lifted billions out of poverty. Meanwhile in Venezuela, there's no food or medicine, and the population is fleeing across the border to Columbia. :)

Anyway, isn't the UK employment rate at an all time high?


Venezuela's problems stem from poor Govt, choices.

Capitalism is good, unacceptable face of Capitalism is bad and there is a big difference. I do not agree with everything the Thatcher Govt, did but at least I have a choice of which power company I use. More and more smaller companies entering the power market and holding the big six to account.

Now that is the acceptable face of capitalism. The unacceptable face of the pwere industry is the idiots who stay put and make no attempt to use a comarision site to see if they could save money. As an intelligent person once said to me, "oh no, we would not switch from Eastern Electricity as it is our local one. I replied we had saved money by switching from the named Eastern Electricity was not enough to peruade her to think about a changing. And no they were not rich so could afford to waste money. Not poor but certainly saving money on power would have been handy for them.
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... (part 2)

Postby blythburgh » Tue Aug 14, 2018 9:10 am

If I was a HOF pensioner I would not be happy to hear that the owner of other chain stores had made offers for the business that included the pension fund the day before administration and the next day. Offers that were above the accepted one. I wonder why this successful business man had his better offers turned down by the administrators.

Not saying the offers made by the other businessman should have been accepted but it all seems to have been done extremely quickly considering there was more than one person who wanted to buy the business.
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... (part 2)

Postby Constantine » Tue Aug 14, 2018 12:57 pm

blythburgh wrote:If I was a HOF pensioner I would not be happy to hear that the owner of other chain stores had made offers for the business that included the pension fund the day before administration and the next day. Offers that were above the accepted one. I wonder why this successful business man had his better offers turned down by the administrators.

Not saying the offers made by the other businessman should have been accepted but it all seems to have been done extremely quickly considering there was more than one person who wanted to buy the business.


According to the FT there was only one other offer from Day for £50m for the business as a ;going concern'. That was some way south of the Sports Direct offer of £90m for the assets and brand, so the administrators went with the latter.

And yes. it was all done pdq. It was a pre-pack. HoF went into admin at 8.00 am, Deal done at 9.00 am. These things are best done asap. The longer you piss about, the more likely it is that yuu liquidate.

As to the pension fund, it' has a surplus. I don't know what provision Sports Direct intends to make regarding future pensions for employees, I'm not sure there is an issue the old fund, but the PPF guarantees pensions in payment, so HoF pensiones should have no concerns.
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Re: 40 Stores to Close... (part 2)

Postby planteria » Tue Aug 14, 2018 4:35 pm

42 Homebase stores. 1500 jobs.

https://www.bbc.co.uk/news/business-45180984
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Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Wed Aug 15, 2018 8:13 am

Dream on wrote:
Boro Boy wrote:
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:
You are out of date. Those plans were announced before the company went into liquidation and were put on hold when Sports Direct bought it. They have yet to set out their plans but Mike Ashley has gone on record to say he will do his best to keep all stores open. Whether you believe or trust him is another matter.



All change! Ashley says he will do his best to keep 80% of stores open... https://www.msn.com/en-gb/money/compani ... spartanntp :wave:
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Re: 40 Stores to Close... (part 2)

Postby planteria » Thu Aug 30, 2018 3:59 pm

planteria wrote:..meanwhile, Amazon now above $1900/s.


and has broken the $2000 barrier today :mrgreen:.
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Re: 40 Stores to Close... (part 2)

Postby Boro Boy » Mon Sep 03, 2018 9:46 pm

A taster of recent closures which may bring back some memories: https://www.msn.com/en-gb/lifestyle/sho ... d7#image=1
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Re: 40 Stores to Close... (part 2)

Postby blythburgh » Tue Sep 04, 2018 7:32 am

Boro Boy wrote:A taster of recent closures which may bring back some memories: https://www.msn.com/en-gb/lifestyle/sho ... d7#image=1


Dewhursts butchers bought back memories of childhood. But lucky for me the towns around me where we shop all have independent butchers. Some more than one.
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... (part 2)

Postby Boro Boy » Tue Sep 04, 2018 9:53 am

blythburgh wrote:
Boro Boy wrote:A taster of recent closures which may bring back some memories: https://www.msn.com/en-gb/lifestyle/sho ... d7#image=1


Dewhursts butchers bought back memories of childhood. But lucky for me the towns around me where we shop all have independent butchers. Some more than one.


The link was National Companies but plenty of Local and Regional Companies have vanished over the same time span: in the North-East I recall Newboulds Butchers.... :think:
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Re: 40 Stores to Close... (part 2)

Postby blythburgh » Tue Sep 04, 2018 10:38 am

I could add some more national chains that are no more but to do so would mean you would all realise I am not 21 as I claim :lol: :lol: :lol: :lol: :lol:

But on here we are all 21 tall, slim, exceptionally good looking etc ;)
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