Ten chains 'face closure' in 2009 - who's next?

38 replies
Found 21st Dec 2008
More than 10 national or regional retail chains risk going bust next month, insolvency experts are warning.

The warning comes from Nick Hood, a partner at Begbies Traynor.

"Not a lot of them are profitable because of the discounting at a time when they would normally generate all their profits for the year," he said.

It comes as research from accountants PricewaterhouseCoopers suggests that 82% of retailers are discounting their merchandise this weekend.

The figures are compiled from London's Oxford Street, where many of the country's top retailers have stores.

news.bbc.co.uk/1/h…stm

38 Comments

PC world and Currys chain I think

zavvi,pc world,b+q.

w h smith

Pound shops are doing well though -
They haven't dropped their prices with the vat cut so they must be making more profit just through that.

Those sofa stores, dfs and csl.....not seen their annoying tv ads for ages

noob;3826379

Those sofa stores, dfs and csl.....not seen their annoying tv ads for ages



DFS had their add banned

I think we will see closures of a few car chains.. well depending on how they react to the current situation.

Titchimp;3826441

I think we will see closures of a few car chains.. well depending on how … I think we will see closures of a few car chains.. well depending on how they react to the current situation.



retail chains or manufacturers?

EliTom

zavvi and homebase for starters

grex9101;3826523

zavvi and homebase for starters



I think homebase could go under too.

bellabonkers;3826537

I think homebase could go under too.



homebase is argos too isnt it?

Yes. it is.

kirsty1981;3826553

homebase is argos too isnt it?



Part of the same group yes.

kirsty1981;3826553

homebase is argos too isnt it?



yep - Home Retail Group

EliTom

wow, how depressing :-(

are homebase/argos doing bad then? my aunty works at argos

The whole group has little/no debts...

dontdothatagain;3826591

The whole group has little/no debts...



and their share price has recovered well in the last month

http://static.guim.co.uk/thirdparty/reuters/chart-HOME.L-2month-default.png

EliTom

Cant see Argos going. Homebase yes. I have never seen that store busy.

I think that it could be Zavvi next, cos of Woolies.

dontdothatagain;3826764

I think that it could be Zavvi next, cos of Woolies.



yep. january will be a telling month once the sales results have come through

Hope this will be the last! Woolies :cry:

I am sure the first quarter of next year will be dire!

Just hope businesses can ride the storm and the US ecomomy starts to react to the new administration - if not well who knows what will happen?

EliTom

elitom;3826840

I am sure the first quarter of next year will be dire!Just hope … I am sure the first quarter of next year will be dire!Just hope businesses can ride the storm and the US ecomomy starts to react to the new administration - if not well who knows what will happen?EliTom



New Admin :thinking:

My money's on Zavvi too. They might not go down this year, but they're in a poor position these days, especially as they've completely flunked their busiest season by having no online ordering system due to the Woolworths issue. It's nearly a year since their Edinburgh Princes Street store closed down, too. Doesn't make them look strong.


That aside though, there's a trend here in all the retailers that we're mooting as maybe closing down this year - they're all grossly overpriced. Zavvi, Woolies, Homebase, MFI, Argos, etc. Who shops there out of anything other than necessity, and leaves without a sour taste of being ripped off anymore? This really is the beginning of the end for real-world stores. The internet's making things so much cheaper that it's going to take over within a few years. Good time to invest in courier companies, methinks.

Focus for me, there never seems to be anyone in my local store, Northampton, and their products are all cheap and nasty

I would think WHSmiths must be vulnerable, along with the Body Shop

johnpayne;3826981

Focus for me, there never seems to be anyone in my local store, … Focus for me, there never seems to be anyone in my local store, Northampton, and their products are all cheap and nasty



I thought they were bought ut by Wickes?

EliTom

bhs ? there is never anyone in there ! whsmiths, pc world

Jonathan James shoe shops are the next - will probably be on the news tomorrow - they've just done a moonlight from our local shopping centre - got to feel sorry for the poor staff

do you think there would ever be a closure of a major supermarket ?

No..not just now anyway..

Original Poster

There's a serious point to be made here......not a good time to be paying for goods in advance of receiving them, or buying gift vouchers from High Street retailers unless you're absolutely sure they're still going to be around for a while. And as things stand now, there are quite a few retailers who look pretty shaky.

bargainhunter5;3827062

bhs ? there is never anyone in there ! whsmiths, pc world



BHS no chance Phillip Green is cash rich.

suze;3827007

I would think WHSmiths must be vulnerable, along with the Body Shop



Depends on what sector - travel are doing better than high st....

Newbold;3827202

There's a serious point to be made here......not a good time to be paying … There's a serious point to be made here......not a good time to be paying for goods in advance of receiving them, or buying gift vouchers from High Street retailers unless you're absolutely sure they're still going to be around for a while. And as things stand now, there are quite a few retailers who look pretty shaky.



I have deliberatly voide Currys and PC World (not that I much

Newbold;3827202

There's a serious point to be made here......not a good time to be paying … There's a serious point to be made here......not a good time to be paying for goods in advance of receiving them, or buying gift vouchers from High Street retailers unless you're absolutely sure they're still going to be around for a while. And as things stand now, there are quite a few retailers who look pretty shaky.



I have deliberately avoided Currys and PC World (not that I much from them anyway). Where there has been the difference of just a couple of quid, gone for alternative to these, cause I dont think they will be around for a whole year...............not enough to last a 12 month guarantee. So if TV breaks after 3 months and they are bankrupt, not got a leg to stand on
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