10 to 15 retailers to go bust

vivatifosi

When I heard this story this morning I felt vindicated in my decision not to give anyone gift vouchers this year and instead to give them cash. We have several members of the family asking for vouchers as their circumstances are changing (eg engagement) and they need them to set up or change home. We've tried to persuade them to take cash instead and explained the reasons.

If I get vouchers this year I'll be spending them quickly instead of sitting on them as I normally would.

Here are some names mentioned as being vulnerable by The Times:

Zaavi
The Officers Club
Whittards
JJB Sports (late payments to suppliers reported)

drc

zarazara wrote: »

by mid-January according to "experts" and todays [ Sundays] papers. If this happens not only will thousands be out of work but there will be lots of empty shops which is bad for city centres and so the downward spiral begins.
Your thoughts please.

Emigrate while you still can

penguine

Our local DIY shop went out of business just after last Christmas. Had been on the High Street 40+ years, when the long-time owner retired a local couple took it over. One of those shops that's really useful plus they had branched out into offering housewares and having a pottery cafe that did parties, etc. Then their landlord doubled the rent so they closed down. The shop stood vacant for 10 months then a charity shop came in. It's really infuriating, the DIY shop was really useful and the last thing we need locally is another charity shop. But now I think the owners may have been lucky, they got out before the recession really hit.

Max_Headroom_3

I wonder how much rent the charity shop pay the landlord compared to what he could have got from the DIY shop if he'd been prepared to be reasonable?

nickmason

Max_Headroom wrote: »

I wonder how much rent the charity shop pay the landlord compared to what he could have got from the DIY shop if he'd been prepared to be reasonable?

The rent will probably be more (this appears to be what is happening in my area) Why? Because the charity shop will probably pay 0% or 5% of business rates, compared with the DIY shop.

penguine

Yes, this is the case in my area as well -- charity shops don't pay rates.

bo_drinker

Seems like many retailers face a rent bill this week for 3 months rent. I wonder how many will buckle under the strain. Also the big spend weekend before Xmas didn't happen as they were hoping. Are people waiting for the Jan sales or are they not spending full stop. Latter I would say with the uncertainty over jobs and cost of living etc.

jm28cardiff

I wish Starbucks was on the danger list.

zarazara

Whittards has gone down.

markelock

surely we're heading to a situation where, in between charity shops, only the handful of largest, most powerful chains will survive.

those chains, originally built on low prices will then be able to operate and charge more freely, resulting in higher prices to us, the consumers?