First retail ‘name’ to pop off 2018

[anonymous-user]

Alpinestars said:

Which itself was restructured in c2008/9

Along with what felt like 90% of the rest of that industry !

[NerveAgent]

HoF to close 31 shops including Oxford Street...

https://www.bbc.co.uk/news/business-44394948

[Alpinestars]

Brooking10 said:

Along with what felt like 90% of the rest of that industry !

There was a lot of it post Lehman.

[Jordan210]

I’m not surprised with HOF closing a load of store.

Quite a few of them are showing age badly. the homeware section is overpriced tat. When they have a sale it’s cheaper else ware.

[hyphen]

NerveAgent said:

HoF to close 31 shops including Oxford Street...

https://www.bbc.co.uk/news/business-44394948

Blimey, must be bad. Normally they hold onto the flagship.

On the plus side, it's a large site, I wonder who will take over the Oxford Street store, a bidding war may erupt.

Also come to think of it, who took over the BHS store in Oxford Street, or did that stay open somehow?

[Eric Mc]

Following stores going -

Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King William Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton, Worcester.

[anonymous-user]

hyphen said:

Blimey, must be bad. Normally they hold onto the flagship.

On the plus side, it's a large site, I wonder who will take over the Oxford Street store, a bidding war may erupt.

Also come to think of it, who took over the BHS store in Oxford Street, or did that stay open somehow?

It was a flagship though in location only. There are far better stores in the estate that they have kept - the legacy flagship store is Fraser's In Glasgow plus the likes of Jenner’s in Edinburgh and Kendal’s in Manchester. All are way better stores and more competitive propositions in their local geography.

The announcement from the company is very poor - an excess of doom and gloom and no focus whatsoever on the component parts of the turnaround plan.

On top of that they launch on the same day the BPF starts jumping up and down about CVAs.

It doesn’t bode well.

There’s more to come from HOF. I am fairly certain that within a year to 18 months the estate will be even slimmer yet.

[sc0tt]

hyphen said:

NerveAgent said:

HoF to close 31 shops including Oxford Street...

https://www.bbc.co.uk/news/business-44394948

Blimey, must be bad. Normally they hold onto the flagship.

On the plus side, it's a large site, I wonder who will take over the Oxford Street store, a bidding war may erupt.

Also come to think of it, who took over the BHS store in Oxford Street, or did that stay open somehow?

Good Riddance. I placed an order with them yesterday and they have the cheek to charge £2 to collect.

[anonymous-user]

House of Fraser situation and reaction here

https://www.houseoffraser.co.uk/Images/Dover-Inves...

interesting to see C.banner (owner of Hamley's) taking 51% shareholding

big push towards online and a lot of buzzwords

Year to Jan 17 it burnt (i.e. negative net cash flow) £52.5m

Year to Jan 18 it burnt (i.e. negative net cash flow) £65.5m

Summary

Edited by anonymous-user on Thursday 7th June 09:37

[hyphen]

Looked up what happened to BHS on Oxford streets, it's becoming a large foodhall and opening this autumn.

"This autumn the site will reopen as Market Hall West End, a 36,000 sq ft space featuring 25 restaurants, ten food stalls, four bars, an event space and a demo kitchen"

[anonymous-user]

JPJPJP said:

House of Fraser situation and reaction here

https://www.houseoffraser.co.uk/Images/Dover-Inves...

interesting to see C.banner (owner of Hamley's) taking 51% shareholding

big push towards online and a lot of buzzwords

Year to Jan 17 it burnt (i.e. negative net cash flow) £52.5m

Year to Jan 18 it burnt (i.e. negative net cash flow) £65.5m

Edited by anonymous-user on Thursday 7th June 09:32

Ta for the link, hadn’t seen that.

There’s nothing in it that makes you go “wow” (in a positive way!) is there ? It smacks of the bleedin’ obvious and should have been set in motion at least three if not more years ago. It’s a shame because I really think they are doomed and it’s all self inflicted.

I believe the c banner money is contingent on the success of the CVA.

[Johnnybee]

Eric Mc said:

Following stores going -

Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King William Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton, Worcester.

I'm not surprised the King William store in London is closing. It would probably take almost as much money if it only opened 12-2pm and an hour at the end of the day.

[anonymous-user]

Brooking10 said:

Ta for the link, hadn’t seen that.

There’s nothing in it that makes you go “wow” (in a positive way!) is there ? It smacks of the bleedin’ obvious and should have been set in motion at least three if not more years ago. It’s a shame because I really think they are doomed and it’s all self inflicted.

I believe the c banner money is contingent on the success of the CVA.

I wouldn't bet on them having their best days in front of them.

Could be wrong, but I think HoF's best days are behind them now.

[anonymous-user]

JPJPJP said:

I wouldn't bet on them having their best days in front of them.

Could be wrong, but I think HoF's best days are behind them now.

I agree.

Mr Ashley plays a role in the future tale too I suspect.

[Fittster]

Alpinestars said:

Dixy said:

Digga said:

Fittster said:

So when do the commercial landlords start to go pop?

Very good question. Something I've been pondering, because barring 'exceptional' areas, town centre retail is deader than flares.

Land is one of the things there will never be any more of, as most of the big owners are insurance/pension companies they will just change use, 10 years ago it was to gyms now it is to apartments for the elderly like McCarthy Stone.

Which itself was restructured in c2008/9

The British Property Federation in the press complaining about Company Voluntary Arrangement (CVA) being used to get out of leases. Must be feeling some pain but it's hard to have a rosy picture of their prospects when so many of their tenants are struggling.

[anonymous-user]

Johnnybee said:

Eric Mc said:

Following stores going -

Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King William Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton, Worcester.

I'm not surprised the King William store in London is closing. It would probably take almost as much money if it only opened 12-2pm and an hour at the end of the day.

I named Epsom as a definite in this thread a few weeks ago. The couple of times I have visited there have been more staff than customers, to the point it actually feels uncomfortable.

I have a relative who works in the Guildford store so she will be pleased but I suspect it won't be long before they close all of them.

[essayer]

JPJPJP said:

House of Fraser situation and reaction here

https://www.houseoffraser.co.uk/Images/Dover-Inves...

interesting to see C.banner (owner of Hamley's) taking 51% shareholding

big push towards online and a lot of buzzwords

Year to Jan 17 it burnt (i.e. negative net cash flow) £52.5m

Year to Jan 18 it burnt (i.e. negative net cash flow) £65.5m

Summary

Edited by JPJPJP on Thursday 7th June 09:37

Almost a billion in gross profit in two years? Where did it all go?

[Fittster]

Does anyone know why there is such reluctance to convert unused retail buildings into housing or some other form of building for which there is more demand?

I see lots of flats being built around town centers but can't think of any examples where unused shops have been flatten to create the space.

[Digga]

anonymous said:

[redacted]

Nor vaping shops (just how much cash can these places actually produce?!), and they can't all be flipped into being granny farms.

[Challo]

Fittster said:

Does anyone know why there is such reluctance to convert unused retail buildings into housing or some other form of building for which there is more demand?

I see lots of flats being built around town centers but can't think of any examples where unused shops have been flatten to create the space.

There is alot of office blocks near to me being converted into flats, but I wonder if its far more difficult to convert large retail units.