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Doesn't look good, 5,700 jobs and another Pension black hole.
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not much incentive to address pension black holes in preference to try and keep business,s afloat,when theres a nice little lifeboat waiting if all goes belly up
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Amazon and online shopping is great but killing retail. Awful news for staff, well over 5,500 people whose jobs at now at risk. Don't know it for fact, but also heard that Prezzo are cutting a 1/3 of its workforce from today. Many more on the brink.....
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terrible news
these stores seemed to expand into our retail out of town boom too easy to buy stuff online these days, and save time and probably cheaper not the first to go, wont be the last stock sold off cheap, if you can get there through the snow |
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There are 2 former cotton mills in my village now homes to two of the massive package distribution companies.
Every 3rd vehicle on the road is one of their lorries ........retail stores have no chance against the ease of internet purchases. |
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Mothercare £2.95 per share July 2015. 28.7 pence now. My wife works as the accountant for a small firm supplying them. Market Cap still £49m. so should be ok. but I know they are worried. Factoring companies won't cover them AFAIK.
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Market capitalisation is simply the sum value of all their shares.
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The only time I have bought anything from Maplins is because I have needed something immediately and they were convenient. Their prices are always way too high and they have the annoying "after-sell" at the till ("can I interest you in a **whatever** today sir?").
The other place that has high prices and the after-sell is WH Smiths but it has been like that for ages and their share price has been on an upward trend for years. |
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Agree with Gin about Maplins. Their prices are ridiculous and I've only ever used them in an emergency. If I could afford to wait a couple of days then I'd order online for a fraction of the cost.
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That's a rarity Porc - we actually agree on something!
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The retail landscape has changed over the past twenty years (mainly due to the internet), and too many companies have traded on exactly the same model for so long, they have failed to keep up with the change.
Look at companies like Kodak or Blockbuster who failed to react to the changes happening around them to see what happens if you don't adapt. High street retailers need to get better at improving their online offers. John Lewis, for example, have a great high street presence combined with excellent online offering where one compliments the other. It's sad in many ways. There are very few independent (or small) sports shops now, because they were all charging higher prices than online offers, or the big chains (eg, sports direct). All that expertise and local knowledge has gone in favour of customers looking for a lower cost price. The only businesses to flourish on the high street will be ones where you need a product or service instantly or can't get an online cheaper alternative. Eg, sandwich shops, barbers, newsagents. Bookies are only there for one reason which we all know. I was talking to a senior manager at KFC UK recently; he told me they don't see themselves as a restaurant chain, but more as a real estate company. Their profits come mainly from buying and selling property and land. |
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prezzo must come into is the pope a catholic category , looks ,like they fortunes on décor on huge premises far to many covers and the 3 or 4 ive seen in different towns are always empty,located in market towns where the footfall for a 7 day business must be non excistent
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I've been in my large out-of-town Maplins about 5 times in the last 2 years
for semi-urgent (but cheap) electrical purchases. Each time there were about 6-8 staff milling about, with not much to do, as the most customers I saw in there were 3 (including me) |
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one of the biggest problems is they have boom town rents in tumble weed locations
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Donny is spot on, and they say there will be thousands of job losses if we leave the E U, nothing said about the job losses when we are already in the f----n E U.cheers.
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very shocked maplins
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Like someone said earlier maplins staff always outnumbered the customers in their stores. I have used Maplins a lot over the years but nowadays you can get the stuff from the internet at a fraction of the price.
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Just evolution in action innit.
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Think the only real shock is both have lasted as long as they did. Maplin's were so overpriced and the only shops I've seen are small and generally in prime city centre locations and no doubt leased. Useful if you needed some audio fuses or rechargeable batteries in a hurry but the big item stuff I doubt they got many sales because everyone compares prices online.
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The last time I used Maplins was in an emergency. I needed a phone charger immediately. There is still a tear in my eye form the experience, £15.
It is funny how the Captains of Industry who get paid 5 noughts plus could not see the writing on the wall when everyone else could. At some point we are going to have to deal with Amazon. Don't get me wrong I hate shopping and people who shop. I prefer to buy off Amazon but there will be a reckoning! Latest purchase 2 Cross roller ball refills £5.78. No petrol cost to me. No £1 parking charge, no fuel charge, no time charge! Fantastic sales experience but you know nobody has paid tax! |
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Home base is the next to go under..lot of shops being shut down in favour of end of line clearance shops.
It's the rent that goes to central government that's the killer. If the rent went direct to local councils, we would not have this problem. Which leads to the question, what is central government doing with all these rents from town councils? Follow the money |
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Think Homebase have been taken over by Bunnings?
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Bunnings did take over Homebase but just read that they made a loss in their first 6 months so you maybe right twonky.
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Amazed WH Smith's still going. What loon would buy a book from there with what they charge?
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airport sales
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Twonky:Rent goes to Central Government?? rates might. but surely central government dont own all these properties?
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A lot of stores are on leasing deals with freeholders who have them under a barrel. That's fine if they are making money as retail businesses but when the hard times appear and the freeholder won't budge on the rent level, well multiply that by the number of outlets you have and things start to descend downhill very quickly. Of course, the landlord is only looking at his existing balance sheet and with hindsight, 3 years later when he can't let his otherwise abandoned unit, he might then have the cop on to realise that it probably was more sensible and business efficient to have sat down with the store and agreed a way forward. No trust when the need for all sides to be making profits. Both parties think the other is just screwing the other one.
I think WH Smith have diversified beyond just books now. The last time I was in one I thought parts of it reminded me a bit like Woolworths so has it taken some of that market? |
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good article in the Guardian about Jamie Oliver and the medium cost ( high really ) restaurant chains. The money men bought into the chain restaurant theme and started buying up prime sites. One small operator was offered £650,000 to vacate his lease and his rent was going to jump from £70,000 p.a to £130,000 p.a. Needless to say he bite the landlords hand off and sold two leases! Then we get a rate rise, Eastern Europeans are going home, they have to increase wages, reduce kwality of food though still charging £70 for a meal for two and people start discerning!
Income drops below overheads and the bean counters realise they are in the dicky doo. Unfortunately they have put pressure on the rented sector. Most leases have upwards only clauses which is stupid. The Specials may need to re-release Ghost Town! |