Companies That You Expect to Disappear Soon

[DB]

I don’t want to live in a world where you work at home, shop at home, socialise on Zoom at home, and I’m sure I’m not the only one. But of course, many of us have been forced to which is impactzing pubs, restaurants and shops.

Quite. I don't drink much at all these days, but when I do it's normally a pub - don't really see the attraction of drinking at home much. The pretence that all this online crap (social media, zoom, etc) is any substitute for real socialising is a fallacy which is going to cause society a lot of problems in the coming years.

Pretty good as in drinkable (aka not instant) or actually good.
Last time I had one, it was ok but I wouldn't necessarily go out of my way to get one from there. Had a really acidic aftertaste and not much flavour.

As in perfectly reasonable. I wouldn't say it was among the best by any means, but better than Starbucks, and a lot cheaper. Costa or Nero are better, but of course more expensive.

 

[FQTV]

Doesn't surprise me in the slightest, Philip Green has milked dry any company he's had involvement with

Quite so; the absolute rinsing of British Shoe Corporation/Sears was spectacular and very few have much idea of what went on, I suspect.

 

[david1212]

Apparently, Philip Green's Arcadia empire is on the brink of collapse. That means Topshop is likely to be the next High Street casualty.

CJ

All of Dorothy Perkins, Evans, Miss Selfridge and Wallis are ladies clothes only. If he had rationalised to Topshop and one other just for ladies clothes or Outfit where all in one store overheads would have been lower so more viable.

I don't generally follow businesses and owners but his approach has always come across as ' colourful '.

 

[KashmireHawker]

Apparently, Philip Green's Arcadia empire is on the brink of collapse. That means Topshop is likely to be the next High Street casualty.

CJ

And Mike Ashley, has just offered a £50 Million loan - prior to Administrators being called in to keep them afloat

 

[DavidGrain]

And Mike Ashley, has just offered a £50 Million loan - prior to Administrators being called in to keep them afloat

But on what terms?

 

[_toommm_]

Further grim news for retail world -

3,500 jobs are going at Sainsburys/Argos as the store tries to implement ways of reducing their overheads.

John Lewis is shredding a further 1,500 jobs - a company which appears to be on a knife edge. I would not be surprised if they go completely in 2021.

Clarks shoes are axing 700 jobs as they reduce their independant shops and push shoe sales through the Internet and other retailers who sell their products.

CJ

The job losses at JL are at head office (I’ll save my opinions on a public forum).

We’ve not been doing as bad as you might think, especially with the business rate reductions. It’s just that a lot of that trade has now moved to online, or click and collect. When we reopen on Wednesday I reckon the atmosphere will be electric right the way through to Christmas.

 

[FQTV]

But on what terms?

It would be a secured loan, and I suspect that it would be against the brand names. Quite a number of Arcadia brands operate as effective concessions within House of Fraser and Debenhams branches, so there’s an obvious interest.

The job losses at JL are at head office (I’ll save my opinions on a public forum).

We’ve not been doing as bad as you might think, especially with the business rate reductions. It’s just that a lot of that trade has now moved to online, or click and collect. When we reopen on Wednesday I reckon the atmosphere will be electric right the way through to Christmas.

I think that you’re right. I appreciate that many partners must wonder about corporate direction at the moment; if it’s any consolation then I suspect that an order of magnitude of JL customers wonder what on earth is going on at the moment.

And, despite the rhetoric, online performance must surely be handicapped by the JL website, which (apart from the sheer number of out-of-stocks) is visually and commercially less inspiring than Co-Op Funeralcare’s.

 

[_toommm_]

It would be a secured loan, and I suspect that it would be against the brand names. Quite a number of Arcadia brands operate as effective concessions within House of Fraser and Debenhams branches, so there’s an obvious interest.



I think that you’re right. I appreciate that many partners must wonder about corporate direction at the moment; if it’s any consolation then I suspect that an order of magnitude of JL customers wonder what on earth is going on at the moment.

And, despite the rhetoric, online performance must surely be handicapped by the JL website, which (apart from the sheer number of out-of-stocks) is visually and commercially less inspiring than Co-Op Funeralcare’s.

Weve recently given customers the ability to request store stock through the website (which was trialled on the app), so as long as there’s more than 2 showing, they can request it to be sent to them - this should help a lot.

Customers are equally bewildered, especially so seeing John Lewis partners like myself regularly working in Waitrose.

 

[Peter Sarf]

Weve recently given customers the ability to request store stock through the website (which was trialled on the app), so as long as there’s more than 2 showing, they can request it to be sent to them - this should help a lot.

Customers are equally bewildered, especially so seeing John Lewis partners like myself regularly working in Waitrose.

I was sad to see the branch of John Lewis on the outskirts of Croydon permanently close down - or has it ?. It was a fairly new branch and I think people were just beginning to get used to its existence. Certainly, for our household, we were drifting towards that being first port of call on any search for items. The lady of the house would also ask me to drop in there if we were passing.

Now in Croydon (central or otherwise) there is nothing similar as an alternative - nearest to cover some stuff in central Croydon is M&S. With the demise of Allders a John Lewis in central Croydon is a necessity for some (but how many) people.

Something that has frightened me is the top (2nd) floor of M&S in Croydon has been closed. This is how the demise of Allders in Croydon started. But I gather M&S shrinkage is temporary while Covid-19 restrictions affect sales. Still rings alarm bells looking up stationary escalators that lead to a wall !.

 

[FQTV]

I was sad to see the branch of John Lewis on the outskirts of Croydon permanently close down - or has it ?. It was a fairly new branch and I think people were just beginning to get used to its existence. Certainly, for our household, we were drifting towards that being first port of call on any search for items. The lady of the house would also ask me to drop in there if we were passing.

Now in Croydon (central or otherwise) there is nothing similar as an alternative - nearest to cover some stuff in central Croydon is M&S. With the demise of Allders a John Lewis in central Croydon is a necessity for some (but how many) people.

Something that has frightened me is the top (2nd) floor of M&S in Crydon has been closed. This is how the demise of Allders in Croydon started. But I gather M&S shrinkage is temporary while Covid-19 restrictions affect sales. Still rings alarm bells looking up stationary escalators that lead to a wall !.

Was that the John Lewis At Home on Purley Way? If so, there had already been plans to demolish and redevelop the site, which I think were then modified somewhat in 2018.

In any event, this closure could well be part of a further review of those plans, and if the site was marginal for JL, and/or they’ve got another plan up their sleeve, it might have been a good opportunity to get out of the lease and maximise their future flexibility.

Horrid for the staff, but this is a common and ongoing strategy for many retail and hospitality multi-site operators.

 

[Peter Sarf]

Was that the John Lewis At Home on Purley Way? If so, there had already been plans to demolish and redevelop the site, which I think were then modified somewhat in 2018.

In any event, this closure could well be part of a further review of those plans, and if the site was marginal for JL, and/or they’ve got another plan up their sleeve, it might have been a good opportunity to get out of the lease and maximise their future flexibility.

Horrid for the staff, but this is a common and ongoing strategy for many retail and hospitality multi-site operators.

Yes, the JL on the Purley way. I see a new unit being built that bridges the gap between the ex John Lewis and the Currys just to the North. The JL was in a building that was around 32 years ago as a Payless DIY (remember them ?) so probably a life expired building.

There had been rumors about John Lewis opening in Central Croydon so what you say happened might be giving JL the get out they need to start afresh in Central Croydon. A Central Croydon JL would be ideal but in an atmosphere of high street decline accelerated by Covid-19 I cannot see much chance of it now. Pity as there are various big units/buildings waiting for them in central Croydon. The Allders buildings (probably decayed) and the basement of Centralle (where Heals used to be 30 years ago) spring to mind. Probably the same excuse exists in many towns and also with C0vid-19 affecting things there is less appetite to try of course.

 

[C J Snarzell]

Although it might not be necessarily relevant as such but the Yorkshire Bank have recently announced closures of some of their branches.

My bank account is with the Yorkshire Bank and I regularly use the Wigan branch which is closing along with Bury next March. A bit inconvenient but sadly many banks are streamlining themselves these days.

The Yorkshire is under the Clydesdale Bank which was taken over by Richard Branson's Virgin Money in 2019.

Therefore, all remaining Yorkshire Bank branches will be renamed under Virgin in 2021, so the Yorkshire Bank name itself will disappear off the High Street.

There is of course the Yorkshire Building Society which has nothing to do with Virgin so will remain as they are.

CJ

 

[maniacmartin]

I agree with what's been said about WH Smith. Their stores all look tatty and dated, as if they've had no investment in years. They often have duct tape repairs to the laminate flooring for example. The back of the the Croydon Whitgift one appears to just be a dumping ground of random old stock that hasn't shifted over the years.

As for John Lewis returning to Croydon. With Westfield Croydon seeminingly indefinitely stalled I think the chances of JL returning in the near here future are slim. I think the council's plans for redevelopment were too big. They got carried away with grand plans to become a huge retail mecca and ending up spending loads of money and then becoming the council equivalent of bankrupt.

Debenhams is another high street store clinging on, having gone into administration 3 times in the past year or so. Everything is very reduced on their website at the moment so it looks like they're desperate to flog some stock and raise some cash. I placed an order online last week, and was very pleased with the value for money and speedy delivery.

 

[nlogax]

Weird combination of pain and glee in online press today as Arcadia enters its death throes. No-one wants to see 13,000 jobs disappear but everyone wants to see Philip Green cast out into the wilderness. Whatever happens today he NEEDS to go.

Shouldn't be forgotten that it's not just the 13,000 jobs at Arcadia that could go to the wall. They have hundreds of UK suppliers who are also at risk. Horrible, horrible situation.

 

[SteveM70]

Shouldn't be forgotten that it's not just the 13,000 jobs at Arcadia that could go to the wall. They have hundreds of UK suppliers who are also at risk. Horrible, horrible situation.

The overwhelming majority of Arcadia’s garment manufacturing was offshored by Green as part of the cost cutting that enabled him to pay his wife enormous dividends. But yes, there’ll be service providers thrown into a horrible place as a result of this

 

[xotGD]

Debenhams stores are full of Arcadia concessions. The future of Debenhams looks even more doubtful this evening.

 

[LOL The Irony]

Debenhams stores are full of Arcadia concessions. The future of Debenhams looks even more doubtful this evening.

Probably why Mike Ashley wants to buy them.

 

[C J Snarzell]

Debenhams really are leaning over a cliff edge and have been for sometime. The collapse of Arcadia is a massive issue for Debenhams as JD Sports have pulled out of the 'bailout' plan. If Debenhams go over the edge, 12,000 jobs are gone, adding yet more economic misery.

They reckon by the summer of next year, around 8% of the UK population aged between 18 and 65 will be unemployed. I think its set to be the highest on record since the national statistics began fifty years ago.

CJ

 

[deltic]

And, despite the rhetoric, online performance must surely be handicapped by the JL website, which (apart from the sheer number of out-of-stocks) is visually and commercially less inspiring than Co-Op Funeralcare’s.

This made be smile and I have to agree

 

[Dai Corner]

JDSports aren't going to buy Debenhams either, apparently.

https://twitter.com/skynewsbreak/status/1333698947676835842?s=21

JD Sports has confirmed that discussions with the administrators of Debenhams regarding a potential acquisition of the UK business have been terminated

Which means Debenhams will cease trading

Debenhams set to close putting 12,000 jobs at risk

The move comes after the failure of last-ditch efforts to rescue the ailing department store chain.

www.bbc.com

 

[nlogax]

Which means Debenhams will cease trading

Debenhams set to close putting 12,000 jobs at risk

The move comes after the failure of last-ditch efforts to rescue the ailing department store chain.

www.bbc.com

Absolutely devastating.

 

[Bald Rick]

Absolutely devastating.

I called it in post #25. Took a little longer than I expected.

 

[nlogax]

I called it in post #25. Took a little longer than I expected.

Writing was always on the wall for them, it was pretty evident that even a slight gust of commercial wind blowing in the wrong direction would be their downfall. No way were they going to survive the hurricane of 2020.

 

[KashmireHawker]

The 242 year olds retailers demise, is now formally confirmed:

The administrators have therefore regretfully concluded that they should commence a wind-down of Debenhams UK, whilst continuing to seek offers for all or parts of the business.

https://ir.debenhams.com/static-files/30d37019-0cbd-4fa5-8f39-301ea8ebb0df

 

[DavidGrain]

Also shows how any company can be dependent on others. It was the number of Arcadia concessions in Debenham stores that was the final straw but probably only precipitated the final collapse.

 

[Bald Rick]

Writing was always on the wall for them, it was pretty evident that even a slight gust of commercial wind blowing in the wrong direction would be their downfall. No way were they going to survive the hurricane of 2020.

I was a fairly lone voice calling it back then! Lots of people commented that I was wrong...

 

[alex397]

Absolutely devastating. It’s a very worrying future for many. We haven’t seen the full extent of the B-word either.

I’m trying to see the positives but it is difficult.

With Debenhams, I believe some staff from stores closed last year moved to other stores - this will be a real kick for them especially.

 

[FQTV]

Where it gets even more complicated is that a sizeable number of the people who work in department store concessions are either self-employed or agency staff. This is particularly the case with the cosmetics counters, but applies to other concessions as well.

Then there are the outsourced (and again potentially agency-staffed) cafes and restaurants, as well as the Costas and Patisserie Valerie type operations that certain branches host.

Indeed, I have often wondered in Selfridge's Manchester city centre shop, if many or even any of the staff on the floor are actually employed by Selfridge at all.

Unfortunately, the possible further implications of this are that these workers may not be eligible for various protections, and they may not even appear in official unemployment figures when they're tallied.

 

[WelshBluebird]

Talking of knock on effects and complications, I wonder if we'll see any impact on shopping centres and the like.
Given Debenhams often occupy large (and so presumably expensive) units that are quite often the anchor store for a centre. Southgate in Bath is a good example of such a place that I am thinking about where the Debenhams unit is huge compared to most of the other units.

 

[DB]

Talking of knock on effects and complications, I wonder if we'll see any impact on shopping centres and the like.
Given Debenhams often occupy large (and so presumably expensive) units that are quite often the anchor store for a centre. Southgate in Bath is a good example of such a place that I am thinking about where the Debenhams unit is huge compared to most of the other units.

Quite likely. Somewhere like Bath should be OK in that they will probably find someone else to take on the unit, or split it into two or three, but places already shaky might be on a downward spiral.