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07 Jun 18
10:09
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21 May 10
Including Birmingham, Cardiff, Edinburgh, Oxford St (Lon).
Six thousand jobs at risk.
Six thousand jobs at risk.
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This could have a significant knock-on effect in some of the smaller towns on the list.
Will surely result in fewer shoppers on their respective high streets and further casualties. A few hundred jobs here, two thousand jobs there... makes you wonder where all these people are being re-employed. |
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A country full of low paid people has less need for top end stores, they will be replaced by Primani et al.
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Poundworld on brink of administration putting 5,300 jobs at risk
The move will allow the company 10 days to two weeks to continue talks with potential buyers without the company's creditors being able to make a claim on the business. It also allows its staff and suppliers to continue to be paid. It is understood that investment company R Capital is in talks to try to buy Poundworld, which has 5,300 workers and 355 stores. The potential administrator, Deloitte, is understood to be standing by if the company fails to find a buyer. Sources have played down the possibility of former owner Chris Edwards being able to buy the company outright. Poundworld is owned by private equity firm TPG The company has been losing money for the past two years. Losses for the financial year 2016-17 were £17.1m, up from £5.4m the year before. Like many retailers, Poundworld has been hit by falling consumer confidence, rising overheads, the weaker pound and the growth of online shopping. Retailers including Maplins, Toys 'R' Us, Mothercare, Carpetright plus a string of restaurant chains have hit the headlines this year because of trading trouble. Poundworld, which has its headquarters in West Yorkshire, was formed in 2004, but it says it can trace its origins "back to 1974 and a market stall in Wakefield, West Yorkshire". TPG, which bought a majority stake in Poundworld in 2015, also controls the restaurant chain Prezzo whose landlords and creditors agreed a restructuring last month. |
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Poundworld is the only one of these type of shops I've visited.
To my untrained eye, it seems that most of the stuff is cr@p. A lot of the branded products, eg shower gel, is often the same price or cheaper in Tesco, Sainsbury's. The item that I specifically go in there to buy are their padded envelopes. Quality is adequate and good value at eight for £1. Better still, have been available at half price recently. (For some reason, this offer is not displayed on the shelf.) |
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Including Birmingham, Cardiff, Edinburgh, Oxford St (Lon).
Six thousand jobs at risk. Administrators called in. More than 17,000 jobs at risk. |
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mike Ashley just bought house of frazer ,1000,s of geordies celebrating in the street ,googling fraser to see which team they,ve bought him off
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 Just heard Ashley's struck a deal. A £90m deal. |
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al house of fraser staff will be wearing gps ankle tags on Monday ,on zero hrs contracts and be getting less than the legal minimum wage, LOL welcome to the world of sports direct,them select committee must look like right muppets months after ridiculing Ashley he buys owns a great british institution,
, pension liabilities put into government life boat scheme ,frank field and co will be managing ashleys pensions for him,field will be foaming at the mouth with rage |
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heard some journo on sky last night saying Ashley had passed the pension liabilities onto the taxmen, I thought the lifeboat scheme was funded by a levey paid by all companies and not the taxpayer
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Something has to be done about business rates if we want to preserve our high street shopping. If not the shops will continue to close.
The next move is to level the playing field by going against the international tax laws and hitting the online merchants. I doubt if any of that is going to happen while governments are more interested in someone referring to burkas as letterboxes. |
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Just popped into Cav House Cheltenham
Lot of stock NOT there anymore Better not sale too much or the shelves will be EMPTY  |