Major Retailers Closing

poppy10_2

vivatifosi wrote: »

The ones I feel most sorry for (though they involve the fewest job losses per company) are the little family run stores that will just think its not worth it any more. There will be many more than 15 of those and they will barely get a mention except perhaps in the odd local paper.

Many of these small family stores won't be able to ride it out, but longer term the future is looking better for them

. Commercial property is crashing even faster than residential property, and there are scores of landlords being driven to the wall by major chains being late or defaulting on the quarterly rental payments. With time rents will come down and small businesses will be able to either rent cheaply or buy their own outlet, without the competition from over-leveraged debt-loaded chainstores driving up prices.

poppy10_2

wymondham wrote: »

DFS are a strange beast - they must have huge finances behind them as they advertise very heavily and ask you get it all on tick!!!

The bulk of their profits come not from selling goods but from selling credit - or rather, debt.With lending costs rising and customers keeping tighter reins on their pockets they are a sure-fire bet to go bust.

Also going down are Land of Leather, ScS sofas, Barker & Stonehous, Furniture Village, JJB, Clintons Cards, Monsoon/Accessorize and DSG group. I think.

fc123

vivatifosi wrote: »

My guess is ten plus, purely because we're already up to 6 I think, though that could change a minute after typing this...

So far:

MFI
Woolworths
The Pier Group
Whittards
Officers Club
Zaavi

The speed that they have gone down with (plus the fact that none of them even made it to Christmas) suggests to me that we won't get away with just one or two more.

Edit: that's assuming you mean going into administration. Fewer of those will actually be wound up completely.

Officers have been bought from administrators....nice clean slate so they can carry on selling clothing as a discounter again (they will carry on with 'Closing Down Sales' that never end).

It wouldn't be appropriate to commment on what bills vanished during the process, but I believe a fair few Far Eastern manaufacturers are going to feel the pain of dealing with the West. It happened to many UK manufacturers some years back with a variety of chain retailers.

They also got shot of of 32 leases...a cull of underperforming stores and may have got reduced rental agreements on the ones they kept.

The Officers Club chief executive rescues chain from administration

• Published: 24 December 2008 08:59
• Author: [EMAIL="lisa.berwin@retail-week.com"]Lisa Berwin[/EMAIL]
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• Last Updated: 24 December 2008 09:47
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Rescued from administration

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Menswear chain The Officers Club has been rescued from administration by its chief executive Dave Charlton.



PricewaterhouseCoopers was yesterday appointed as administrator for the retailer as tough competition and difficult high street conditions led to the collapse of the 150-store chain.
Charlton bought the business and its assets from the administrator saving over 1,000 jobs and will continue trading 118 of its 150 shops.
The Officers Club and its Petroleum brand fascia were bought by a company backed by the chief executive called TimeC 1215.
Separately it has emerged that Whittard of Chelsea's former boss Will Hobhouse was an adviser to private equity group Epic, which bought the 130-store chain from administration yesterday.
Hobhouse is chairman of gifts retailer Past Times and fashion group Jack Wills. Reports suggest he may combine some of Whittard's operations with Past Time's.
The sale of Whittard of Chelsea has secured about 1,000 jobs but some of its stores may be closed.

fc123

And another from the Trade Press. This is interesting....the pain of landlords is highly satisfying to me...........in a non-gloating (but can't help myself having shaudenfraude) way of course. Obviously, being the little guy, the landlords pain is being dumped on micro-retailers like me.
Wonder if this will work out?

11th hour Woolworths deal could save 125 stores

• Published: 24 December 2008 10:06
• Author: [EMAIL="lisa.berwin&#64;retail-week.com"]Lisa Berwin[/EMAIL]
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• Last Updated: 24 December 2008 10:13
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The 11th hour deal could keep 125 Woolworths stores open

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The fate of Woolworths is now hanging on a £30 million deal that could see the failed chain stay on the UK high street in 125 stores.


Administrators Deloitte have given a deadline of January 5 for the closure of the remaining Woolworths stores.
If an 11th-hour deal were to be agreed the buyer would be given stores for free but be required to inject £30 million of working capital to pay suppliers and staff.
The deal could mean 125 shops continuing to trade under the Woolworths name. It would also mean that the new owner could re-negotiate leases with its landlords.
This week Sir Geoff Mulcahy held talks with Woolworths' biggest shareholder Ardeshir Naghshineh about a possible last minute rescue deal.
A consortium headed by Woolworths executive Tony Page has also been trying to secure backing to ensure a deal.

[Deleted User]

dreemgirl wrote: »

I think a fair few will go during 2009...

la senza

Nooooooooo

brightonman123

i reckon these are going down, or facing downsizing their operations, or even their perceived status in order to survive, or just compete with a major consumer shift, towards the low-budget / £1shops etc-

Debenhams
M&S
Boots
Waitrose

djm1972

La Senza to go bust - surely not!

Snooze

I'd not even heard of Whittards or Piers Group either to be honest.

My predictions to go are :

Homebase/Focus/Wickes (maybe more than one)
HMV
DFS/SCS/Land of Leather (maybe more than one)
Carpetright
Curry's
+ loads of smaller places that aren't well known

I don't think PC World will go as they have huge mark-ups on their prices and they have a fairly niche market. I mean, if you weren't internet savvy or didn't have the internet at all, where else would you go if you wanted a PC or related goods?

I think Maplin could be sailing close to the wind financially too.

2p.

Rob

TONKAJOYCE

I am going with WH Smiths

cally6008

Not according to my manager, Smiths has took on 39 Franchise hospital outlets.