First retail ‘name’ to pop off 2018
Discussion
SydneyBridge said:
Dixy said:
The BHS property in the middle of Taunton was empty for a long time but fortunately it has been refurbished and reopened as Poundworld.
Or unfortunately, if they now closeLike a parrot it can fly over you
EddieSteadyGo said:
Just spotted this article which I thought was interesting, relating to the collapse of BHS.
Investigators were trying to find out why PwC signed off on the BHS director's assessment the company was a 'going concern' just before it was sold for £1 to prize clown, Dominic Chappell.
Conclusion reached that key audit actions were negligent and as a result PwC have been fined £10m. Not only that, but the partner responsible for the audit has been given a hefty personal fine as well.
https://www.retailsector.co.uk/38581-pwc-hit-with-...
Wonder what effect that will have in the future where the client is paying large fees and doesn't want to hear bad news...
And the reason why the audit report was signed off with no going concern comment was........?Investigators were trying to find out why PwC signed off on the BHS director's assessment the company was a 'going concern' just before it was sold for £1 to prize clown, Dominic Chappell.
Conclusion reached that key audit actions were negligent and as a result PwC have been fined £10m. Not only that, but the partner responsible for the audit has been given a hefty personal fine as well.
https://www.retailsector.co.uk/38581-pwc-hit-with-...
Wonder what effect that will have in the future where the client is paying large fees and doesn't want to hear bad news...
Fabb Sofas into administration a couple of days ago. (It's a DFS type of outlet) I wonder how those with outstanding orders will fare.
My daughter bought a few bits from them and took delivery less than a fortnight ago. She's pleased she wasn't caught out but is annoyed that the minor repair won't now happen and also that her financial outlay was possibly at risk when placing the order.
My daughter bought a few bits from them and took delivery less than a fortnight ago. She's pleased she wasn't caught out but is annoyed that the minor repair won't now happen and also that her financial outlay was possibly at risk when placing the order.
cuprabob said:
Cold][url said:
...and also that her financial outlay was possibly at risk when placing the order.
In which case it makes sense to make payment / part payment by credit card for Section 75 protection Cold said:
Fabb Sofas into administration a couple of days ago. (It's a DFS type of outlet) I wonder how those with outstanding orders will fare.
My daughter bought a few bits from them and took delivery less than a fortnight ago. She's pleased she wasn't caught out but is annoyed that the minor repair won't now happen and also that her financial outlay was possibly at risk when placing the order.
Jeez My daughter bought a few bits from them and took delivery less than a fortnight ago. She's pleased she wasn't caught out but is annoyed that the minor repair won't now happen and also that her financial outlay was possibly at risk when placing the order.
I seem to remember that the company only opened a branch in Preston recently as they had massive radio advertising for it.
That was only a few weeks ago
vikingaero said:
I agree, HL was a decent brand that expanded from their traditional market to townie fashion. Townie fashion is fickle and the cost of supporting all these expanded shops must have been crippling. I see the brand being Phoenixed by the owners for £1 and relaunched in a few years.
Point of order, you can’t buy for £1 and Phoenix, they are two different approaches.Plus if it was going to existing management newco chances are it would have been pre-packed at the point of administration.
Edited by anonymous-user on Thursday 14th June 09:57
As far as I'm aware H-L were doing sailing kit up to the end.
To be honest I found H-L, Musto and Helly Hansen much the same.
Anyway back on topic
N Brown closing its 20 remaining shops and becoming a pure online retailer.
The decision - which concerns 12 dual-brand Simply Be and Jacamo outlets and eight High and Mighty stores - puts 270 jobs at risk.
https://www.bbc.co.uk/news/business-44479925
I'm sure many people who post here consider themselves to be high and mighty.
To be honest I found H-L, Musto and Helly Hansen much the same.
Anyway back on topic
N Brown closing its 20 remaining shops and becoming a pure online retailer.
The decision - which concerns 12 dual-brand Simply Be and Jacamo outlets and eight High and Mighty stores - puts 270 jobs at risk.
https://www.bbc.co.uk/news/business-44479925
I'm sure many people who post here consider themselves to be high and mighty.
pavarotti1980 said:
What would happen if you were paying for a la DFS 50p a week for 34 years? WOuld they come and take your sofa off you?
That's £884... about the price of average sofaDFS took over some sofa shops that went bust last year, so I assume they took on the debts. ie, the money owed on interest free credit
Not big enough to make the headlines but Fabb Sofas has also folded: https://www.retailgazette.co.uk/blog/2018/06/dfs-f...
Obviously internet shopping is playing a part in these retailers going to the wall but they are there own worst enemies.
Pretty much all the recent closures are truly appalling examples of retailing expertise.
Go in a Debenhams or HoF. They are not nice shops. Dreadful layouts, staff with little product knowledge, selling the same stuff as you can get at 20 other shops.
It’s easy to blame changes in customer habits but they need to look at why those habits have changed.
Often the answer is their own business model.
They have killed their own customer.
Pretty much all the recent closures are truly appalling examples of retailing expertise.
Go in a Debenhams or HoF. They are not nice shops. Dreadful layouts, staff with little product knowledge, selling the same stuff as you can get at 20 other shops.
It’s easy to blame changes in customer habits but they need to look at why those habits have changed.
Often the answer is their own business model.
They have killed their own customer.
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