20/9 - Evans Cycles wheely gone! £15mil down! 18/9 - Orla Kiely gone bust for £8 million!! | 8/9 - Debenhams going next | House of Frazer 6000 jobs going | CarphoneWarehouse 100 stores cut off! | Homebase flogged for £1! | TescoDirect Shutting! | Toy

43
Found 31st MarEdited by:"bitcoin5"
Posted a few comments over the last few months, regarding why are their so many homebase deals and silly in store price reductions to shift stock recently...

Seems they *might* be next for the chopping block if some deep pocketed buyers cannot be found soonish!

news.sky.com/sto…795

24/4 - PoundWorld in trouble - CVA planned ((27/4)) - Up for sale ((10/5))
3/5 - House of Fraser CVA insolvency ((foretold by @tempt 31/3))
21/5 - Marks & Spencer - Further store closures announced ((100))
22/5 - Tesco Direct ceasing trading - 500 Jobs lost!
24/5 - Home base sold for £1! Takeover ploy or complete store closures
29/5 - Carphone Warehouse ((dsg owned)) shutting 100+ stores & profits warning (( thx @Wongy110 ))
6/6 - House of Frazer shutting 40+ stores with 6000+ jobs going!
10/6 - Poundworld collapses no buyers 5000+ jobs going!
13/6 - Rolls-Royce announces 4,600 job cuts!
8/9 - Debenhams going next!! - CVA in the cards maybe!

18/9 - Orla Kiely Designer & Royal Family clothes horse supplier - down the pan for £8 million and everyone made redundant!

20/9 - Evans Cycles up the Saddle - Needs £15 mil to survive or that is another one, that will join the Chain Gang above...


^ above list will be added to if / as and when more of the same happens or other members mention it in the thread down under
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43 Comments
o didn't no Prezzo gone
Homebase were bought by some Australian company a couple of years ago, so they have been revamping their product range since then resulting in loads of "end of line sales " .

They have also recently decided to close many stores , keeping just the most profitable sites - hence lots of clearance sales recently .
I thought they belonged to Sainsbury
Segata-Sanshiro12 m ago

I thought they belonged to Sainsbury


Argos were previously owned by the Home Retail Group (along with Habitat). Sainsbury's bought Argos, while Homebase was bought by Wesfarmers to be rebranded as Bunnings. Rather than it being at risk of imminent liquidation, a messy transition period is underway. Financial difficulties however, cannot be ruled out in the medium term.
Saturn1 m ago

Argos were previously owned by the Home Retail Group (along with Habitat). …Argos were previously owned by the Home Retail Group (along with Habitat). Sainsbury's bought Argos, while Homebase was bought by Wesfarmers to be rebranded as Bunnings. Rather than it being at risk of imminent liquidation, a messy transition period is underway. Financial difficulties however, cannot be ruled out in the medium term.


Theres argos in homebase so I thought they was the same
Argos were bought by the previous umbrella group for Homebase (Home Retail Group) before the subsequent break up sale. It is all easily 'googleable' if you are interested.
Saturn4 m ago

Argos were bought by the previous umbrella group for Homebase (Home Retail …Argos were bought by the previous umbrella group for Homebase (Home Retail Group) before the subsequent break up sale. It is all easily 'googleable' if you are interested.



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fanpages17 m ago

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I see what you did there
I won't be surprised if Caffè Nero start closing some stores. There are 5 of them within a 15-20 min walk around my house and I have always wondered how they made money.
bozo00715 m ago

I won't be surprised if Caffè Nero start closing some stores. There are 5 …I won't be surprised if Caffè Nero start closing some stores. There are 5 of them within a 15-20 min walk around my house and I have always wondered how they made money.


Well they were up to a £25,000,000+ loss last year, so you could be right there!
bozo00717 m ago

I won't be surprised if Caffè Nero start closing some stores. I have …I won't be surprised if Caffè Nero start closing some stores. I have always wondered how they made money.


By charging eight quid for a cup of coffee?
Edited by: "fivegoldstars" 31st Mar
fivegoldstars5 m ago

By charging eight quid for a cup of coffee?


Brilliant!
House of Frazer and TM Lewin in the queue.
tempt1 h, 15 m ago

House of Frazer and TM Lewin in the queue.


Think 15 million of the 15 million & 4 shares of the chinese holding company of HOF are worth about 4p and posted another loss as well!

Maybe someone at the Express has seen this discussion thread... they are running a story about the matter Sunday!


express.co.uk/fin…ook
bitcoin513 m ago

Think 15 million of the 15 million & 4 shares of the chinese holding …Think 15 million of the 15 million & 4 shares of the chinese holding company of HOF are worth about 4p and posted another loss as well!Maybe someone at the Express has seen this discussion thread... they are running a story about the matter Sunday!https://www.express.co.uk/finance/city/939760/High-street-crisis-deepen-Sainsbury-s-chief-executive-CVAs-Prezzo-Byron-New-Look


Unlikely...It takes them weeks to decide on a story!
Segata-Sanshiro12 h, 37 m ago

I thought they belonged to Sainsbury


They were owned by Sainsbury many years ago, they were sold off.
I surprised Thorntons has lasted to long
My high street is slowly emptying out. Starbucks closed in Dec 2016, the shop is still vacant. Topshop, Sports Direct, Co Op Bank, Maplin all gone. The big M&S closes on Apr 7, amongst the 5 that were announced earlier. What is interesting is 3 vape shops have opened in the last 1 year.
Edited by: "bozo007" 1st Apr
fivegoldstars31st Mar

By charging eight quid for a cup of coffee?


Come on, hands up who's ever paid for a cup of coffee in there? This is HUKD. We all get them free with Priority.
MSK.30 m ago

Come on, hands up who's ever paid for a cup of coffee in there? This is …Come on, hands up who's ever paid for a cup of coffee in there? This is HUKD. We all get them free with Priority.


Priority? I thought we all kept our cups from Wetherspoons and went back each day for the unlimited refills?
tempt1st Apr

Unlikely...It takes them weeks to decide on a story!


Apparently princess Diana is dead.
jase.223 h, 35 m ago

I surprised Thorntons has lasted to long


Ferrero bought them recently
preecey2nd Apr

Ferrero bought them recently


So they did, 1/4 of a billion turnover, 82 million gross profit and a net profit of 5 million, compared to a 15 million loss last year, we can safely say that they are going nowhere the liquidation plug hole!!
Mothercare closing 50 stores
bitcoin531st Mar

24/4 - PoundWorld in trouble - CVA planned ((27/4)) - Up for sale …24/4 - PoundWorld in trouble - CVA planned ((27/4)) - Up for sale ((10/5)) 3/5 - House of Fraser CVA insolvency ((foretold by @tempt 31/3)) 21/5 - Marks & Spencer - Further store closures announced ((100)) * 22/5 - Tesco Direct ceasing trading - 500 Jobs lost!


As you speculated - another one to add to your list of doom.

GlobalData’s retail analyst, Patrick O’Brien said: “Homebase is undoubtedly the most disastrous retail acquisition in the UK ever. I can’t think of a worse one that has made these kinds of losses so quickly."

kbbreview.com/new…ss/

insightdiy.co.uk/new…htm
Saturn9 m ago

As you speculated - another one to add to your list of doom. As you speculated - another one to add to your list of doom. GlobalData’s retail analyst, Patrick O’Brien said: “Homebase is undoubtedly the most disastrous retail acquisition in the UK ever. I can’t think of a worse one that has made these kinds of losses so quickly."http://www.kbbreview.com/news/wesfarmers-seeks-buyer-for-disastrous-homebase-business/http://www.insightdiy.co.uk/news/wesfarmers-approach-potential-buyers-as-homebase-selloff-looks-likely/6131.htm


Lol! maybe we should change the title to that suggestion @Saturn love it!

On a sadder note, with a lot more forethought and some bods at the top of the tree in all these companies, that actually knew what they were doing, instead of paying swathes of cash bonuses to board members, who just move on after all the p o o p hits the fan, they would not all be in as much trouble as they are the last 5 years...
Even poundland is affected. Now I can't find all the products that normally i buy (more limited stock and variety) and some shops are closing but in a slower way than the rest of the poundshops.
Pokora50 m ago

Even poundland is affected. Now I can't find all the products that …Even poundland is affected. Now I can't find all the products that normally i buy (more limited stock and variety) and some shops are closing but in a slower way than the rest of the poundshops.


Seems the high street property owners & their crazy rents per square foot, are really killing off some of the, what used to be, cash rich & debt free brands / stores now, you know something is wrong, when the packet of 1kg rice you have always been able to buy at poundland, is never hardly in stock anymore!!!

Sure there will be lots more this year, but unless the hedge fund property owners step in and take less on their clients portfolio investments, nothing will save the high street from becoming a ghost town of Mucky Fried Chicken & Pawn Shops!
People just buying more and more online. People went to Maplin, found what they needed and bought it on Ebay for 1/3rd of the price.

The VAT loophole of buying from China must also be hurting, I've bought maybe 30 things from China, all have turned up and only paid VAT of £8 (plus £12.40 to Royal Mail ) on one item.

The only thing left on the high street will be fast food restaurants and supermarkets in 10 years but in a cashless society everything will move online eventually.
GlentoranMark10 h, 17 m ago

People just buying more and more online. People went to Maplin, found what …People just buying more and more online. People went to Maplin, found what they needed and bought it on Ebay for 1/3rd of the price. The VAT loophole of buying from China must also be hurting, I've bought maybe 30 things from China, all have turned up and only paid VAT of £8 (plus £12.40 to Royal Mail ) on one item. The only thing left on the high street will be fast food restaurants and supermarkets in 10 years but in a cashless society everything will move online eventually.


I doubt if this loophole is hurting. In principle, it sounds like VAT is lost, but in business operation, when there is leakage or loss , you would increase the rates to make up for it. If tax collection were 100% effective, VAT rate need only be 15% say. Remember the old sales tax pre-EU was just 8%.

It costs money to collect money.

Just look at how many people are employed to collect VAT in UK and how much money is paid to Brussels for VAT to be administered across the EU. Look also also VAT fraud and dishonesty, cash in hand...

Additionally, in business , there is VAT registered or not (for smaller amounts). In the time you bought 30 items from China, how much did you spend in UK that had VAT or no VAT, like from a Christmas fayre?

Lastly, collecting small amounts of VAT is disastrously expensive for the nation, more than what you would collect in VAT. If you don't believe me, try to time yourself at home, how many parcels that you can open, review, inspect, look up PC, re-wrap, per hour. Assuming then you are on minimum wages, and pay virtually no income tax, claiming social benefits, estimate how much NHS, child benefits, pension contribution, public services that others have to pay more to subsidise you collecting these small amounts. Then look at how many tax inspectors that you need monitoring the small amounts and big amounts in cash in hand jobs.

You will not get a cashless society for a long while yet because when systems are mega-hacked or failed with no electricity or interney, you need a Plan B system , which is cash.
Edited by: "splender" 25th May
Tesco direct died cos of the xbox one s glitch
eslick4 h, 49 m ago

homebase sold for £1, no mention of it but has to be plus …homebase sold for £1, no mention of it but has to be plus debtshttp://www.bbc.co.uk/news/business-44248409http://www.thisismoney.co.uk/wires/pa/article-5770407/Homebase-sold-Hilco-Australian-owner-jumps-ship.html


Added, thanks @eslick
Wongy1101 h, 10 m ago

More depressing news for your list …More depressing news for your list OP.https://www.theguardian.com/business/2018/may/29/carphone-warehouse-shut-stores-profits-mobile-phone


Did see a hint of that a while back, did not think that CPW & shareholders ((major)) would let it get this bad, wonder if a certain founder of said moble stores idea, might step back into the fora and make them great again

Once niche stores, like mobile phone shops & warehouse concession franchise setups, start failing, in such a massive consumer marketplace ((regardless of extortionate rents!)) you just know that the up take on Asian produced kit, is having a massive effect on profits and more so, the profit margins they used to be able to hype people into buying at!

Got out of dsg at 255, as after their last attempt to reopen / refurbish / re-franchise all the superstore displays ((some went to google play popups in the end, they are all closed now!)) last summer, the only way they would survive the rot, is get real with the sim free phone profits ((monthly pay contracts return hardly jack)) on prices and shift more stock, but looks like they didn't heed the advice and way all the other high street store chains were going... down!

Like to think of the updates in this discussion as informative as opposed to depressing, after all, it is only depressing if you work for dsg or hold shares that plummeted last night, they should stagnate a bit now the news has broken
10/6 - Poundworld collapes - 5100+ jobs - no buyers - see OP
Edited by: "bitcoin5" 11th Jun
Be positive, Network Rail is doing well. The British are getting to work by train better than ever before. We had to thank Mark Carn with a CBE really, as he wasn't paid enough for the work that he did at £820k per year. We ought we put more leaders like him into businesses which are vulnerable to collapse. An immediate benefit is that business collapses are either delayed or cancelled totally.
Wongy11011th Jun

Bensons for Beds are closing …Bensons for Beds are closing here.https://www.theguardian.com/business/2018/mar/01/carpetright-warns-annual-loss-uk-consumer-spending-squeeze


Added

13/6 - Rolls-Royce announces 4,600 job cuts - added!
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