40 stores to close... (part 3)

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Re: 40 stores to close... (part 3)

Post by William Joseph1 » Fri Apr 12, 2019 11:53 am

LK Bennett? I had never heard of them. https://www.bbc.co.uk/news/business-47907867
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Re: 40 stores to close... (part 3)

Post by pabenny » Fri Apr 12, 2019 12:09 pm

You may not be in their target market, WJ.

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Re: 40 stores to close... (part 3)

Post by William Joseph1 » Fri Apr 12, 2019 12:11 pm

pabenny wrote:
Fri Apr 12, 2019 12:09 pm
You may not be in their target market, WJ.
I did wonder.
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Re: 40 stores to close... (part 3)

Post by blythburgh » Sat Apr 13, 2019 8:58 am

pabenny wrote:
Fri Apr 12, 2019 12:09 pm
You may not be in their target market, WJ.
WJ is obviously not the Duchess of Cambridge in disguise. I did hear when this happened she was a customer. A fact that somehow, I know not how, had escaped me in the past as had the name of the chain :lol:
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Re: 40 stores to close... (part 3)

Post by pabenny » Mon Apr 15, 2019 1:10 pm

Monsoon Accessorize seeking a CVA to enable store closures.
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Re: 40 stores to close... (part 3)

Post by blythburgh » Tue Apr 16, 2019 10:33 am

The big problem is too high rent and far too high business rates.

When the last round of business rate rises was announced (though not fully implemented) i was talking about it to a member of a family butcher business in Southwold. He said it meant another £1,000 per month to be found from the business. They are the only butcher in the town but you can buy plastic wrapped meat that comes from who knows where in the local small Tesco and larger Co-op. At least the butcher can tell me more about the meat than the label on the supermarket stuff.
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Re: 40 stores to close... (part 3)

Post by pabenny » Tue Apr 16, 2019 11:54 am

blythburgh wrote:
Tue Apr 16, 2019 10:33 am
The big problem is too high rent and far too high business rates.
With respect, it’s not quite that. Most of the businesses that are struggling or have gone under (Debenhams, Maplin, etc) signed up for leases fully aware of the rents and rates due and the fact that they would increase. Their problem is that income has fallen meaning there is no longer enough to cover the rent. Few, if any, bricks and mortar retailers realised how fast and how far consumer spending would move online.

It’s the same problem house buyers have if they take on a mortgage they can afford and then lose their job.
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Re: 40 stores to close... (part 3)

Post by William Joseph1 » Wed Apr 24, 2019 12:17 pm

https://www.bbc.co.uk/news/live/business-47990178
Fashion profits rise at Boohoo and Primark
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Re: 40 stores to close... (part 3)

Post by William Joseph1 » Fri Apr 26, 2019 11:15 am

Debenhams names 22 stores to close

https://www.bbc.co.uk/news/business-48063604
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Re: 40 stores to close... (part 3)

Post by pabenny » Thu May 02, 2019 9:35 am

Arcadia - Philip Green's empire, including Topshop, Burton, Dorothy Perkins, Evans, Miss Selfridge, and Wallis - is reportedly seeking a rescue deal that would allow it to cut rents and close stores.

https://www.bbc.co.uk/news/business-48102858

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