Major Retailers Closing

friar

I think a good guide is their share price on stock market.

Clinton cards.Best price in last 12 months.£38.00.Now.5p.Ouch!
Dsg.(Currys etc) £1.10 17p.
Pendragon.Another big car dealer. £0.43 1p.
Inchcape.Cars again. £4.50 39p.
jjb £1.36 4p.

They say the stock market is never wrong,they just go to excess!!!

Yorkshireparkin

There have been a lot of names mentioned here that just seem to have been plucked out of thin air and have no facts or figures to back up their selection. Firms like Boots, WHS, M&S and Comet are not about to go into administration as they have proved to adapt and change to the ever changing market, something the firms that have filed for administration haven't done. Also any firm that has a teenage customer base, should be safe.

Look instead at those firms who refuse to adapt, are too expensive and specialised, especially in goods that are impulse buys. Also at least one big electrical retailer will go to the wall, as will half the furniture stores and at least 3 big car retailers. Those firms that have rumoured to be struggling over at least the past year will also be the ones who go under. Just an opinion of someone who works for a retail trade mag.

marvin

I notice lots of people keep mentioning BHS, BHS is privately owned by probably the safest retailer in the world Phillip Green. It has low or no debt and is probably, unless he decides otherwise absolutely safe.

mvengemvenge

Yorkshireparkin wrote: »

There have been a lot of names mentioned here that just seem to have been plucked out of thin air and have no facts or figures to back up their selection. Firms like Boots, WHS, M&S and Comet are not about to go into administration as they have proved to adapt and change to the ever changing market, something the firms that have filed for administration haven't done. Also any firm that has a teenage customer base, should be safe.

Look instead at those firms who refuse to adapt, are too expensive and specialised, especially in goods that are impulse buys. Also at least one big electrical retailer will go to the wall, as will half the furniture stores and at least 3 big car retailers. Those firms that have rumoured to be struggling over at least the past year will also be the ones who go under. Just an opinion of someone who works for a retail trade mag.

I agree that to a large extent that we're all playing a bit of a guessing game (apart from checking share prices as a guide), but several respected economists/commentators have said 10-15 larger retailers may go down if current conditions continue to deteriorate, so there must be some 'surprises' amongst them.

Jacqz

marvin wrote: »

I notice lots of people keep mentioning BHS, BHS is privately owned by probably the safest retailer in the world Phillip Green. It has low or no debt and is probably, unless he decides otherwise absolutely safe.

My local one is closing though - so maybe they are shedding some underperforming stores rather than closing the whole chain?

marvin

Jacqz wrote: »

My local one is closing though - so maybe they are shedding some underperforming stores rather than closing the whole chain?

Closing old or non performing stores is good business it is partly the problem woolworths had, it either couldn't due to lease terms or wouldn't close stores at all. Should have shut all the big w's when it was clear they did not work even failed to shut down the big red book despite it losing millions every year of operation.

There is a pub I know shuts for 8 weeks every year and the owner goes to New Zealand. When I asked about this he said I am in business to make money not lose it or break even. I can't make money in those weeks ever and my money is better spent on a holiday so I can work hard the rest of the year.

Closing one store is not always a sign of trouble but often of good managers managing a business.

neverdespairgirl

Kez100 wrote: »

Why will Claires go? Are they having problems. I was in one of their pigeon hut stores this afternoon and it was full of youngsters spending their pocket money/saturday job earnings.

I've not really been in one, but I thought they were a down-market version of Accessorize?

rach83

With regard to Claire's majority of their trade probably comes from the teenage market. Once Mum and Dad start finding things a bit more difficult surely this will have a knock on affect with regard to pocket money. I may be wrong but its just my thoughts.

mewbie_2

rach83 wrote: »

With regard to Claire's majority of their trade probably comes from the teenage market. Once Mum and Dad start finding things a bit more difficult surely this will have a knock on affect with regard to pocket money. I may be wrong but its just my thoughts.

This is an interesting one. I would have thought one of the very last savings would be teenagers pocket money - I'd rather argue with any of my other creditors.

vivatifosi

With regard to BhS (above) or any other store closing, don't forget that stores have break clauses and lease expiries. If you can afford to do so without alienating a customer base this may be a good time to give up a lease and bag a bargain on a cheaper one elsewhere. While under-performing stores may well be closed down, there can be other reasons to give up a retail unit too.