First retail ‘name’ to pop off 2018

[hurstg01]

Not in the UK, but did you hear the Gibson Guitars in the US are asking for Bankruptcy protection?

[hyphen]

Chinese owner of Hamleys agrees to buy a 51% stake in House of Frazer, conditional upon a (not yet known) number of stores to be closed
https://www.theguardian.com/business/2018/may/02/h...

[Digga]

hurstg01 said:

Not in the UK, but did you hear the Gibson Guitars in the US are asking for Bankruptcy protection?

Heard they were struggling a while back and felt rather sad that such a legendary name had managed to lose it's way.

As for the high street, expect much, much more pain as the full impact of the latest, top-down, state-sponsored pensions wheeze takes hold. For those unaffected or uninterested, the numbers in summary are below. If you cannot work out how and why these might impact on job creation, pay settlements and - crucially for consumer spending - disposable income, then you probably need supervision on the internet:

Date effective	Employer min contribution	Employee min contribution	Tax relief	Total min contribution
To April 2018	1%	0.8%	0.2%	2%
To April 2019	2%	2.4%	0.6%	5%
April 2019 >	3%	4%	1%	8%

[toastyhamster]

techiedave said:

I'm going to go out on a limb here and list places

Wilkinsons - (Wilko)
Dunelm Mill
Entwistle Green

Wilko and Dunelm are both doing ok. Dunelm are expanding and will no doubt benefit from some of the other failures. Wilko's seem to have found their niche.

I would say The Works but they've just piled investment into a massive new HQ/Warehouse in Brum

[jsc15]

The Works is a strange one. I go in for some stationery things but whereas I used to also look at the books and CD's, they've become a bit predictable on that front, so now I don't even look at the books etc. Still they always seem to be busy somehow

I'm getting a bit concerned about HMV (again). A couple of months ago they shut 2 big stores in the bigger (& busy) shopping centres on outskirts of Glasgow (Silverburn & Fort) and although this might have been due to leases running out, they are getting a bit sparse in their High St profile. They also have zero presence in central Edinburgh now (aside from the Fopp sub-brand) with the closure in last year of both the main Princes St & (now demolished) St James Centre stores

[Twig62]

toastyhamster said:

techiedave said:

I'm going to go out on a limb here and list places

Wilkinsons - (Wilko)
Dunelm Mill
Entwistle Green

Wilko and Dunelm are both doing ok. Dunelm are expanding and will no doubt benefit from some of the other failures. Wilko's seem to have found their niche.

I would say The Works but they've just piled investment into a massive new HQ/Warehouse in Brum
[/quote

Wilkinsons seem to have a lot of empty spaces on the shelves recently in the stores I have been in. I don't know if it's just a logistics issue of if they are having problems paying their suppliers. I hope they don't close as they are often very competitive on branded goods and their own brand products are usually of very high quality.

[KTF]

House of Fraser now looking to close stores and restructure: http://www.bbc.com/news/business-43973149

[HTP99]

KTF said:

House of Fraser now looking to close stores and restructure: http://www.bbc.com/news/business-43973149

I think I read they are potentially going to close 20 out of their 59 stores, my eldest works in a H of F store!

[scenario8]

Digga said:

Heard they were struggling a while back and felt rather sad that such a legendary name had managed to lose it's way.

As for the high street, expect much, much more pain as the full impact of the latest, top-down, state-sponsored pensions wheeze takes hold. For those unaffected or uninterested, the numbers in summary are below. If you cannot work out how and why these might impact on job creation, pay settlements and - crucially for consumer spending - disposable income, then you probably need supervision on the internet:

Date effective	Employer min contribution	Employee min contribution	Tax relief	Total min contribution
To April 2018	1%	0.8%	0.2%	2%
To April 2019	2%	2.4%	0.6%	5%
April 2019 >	3%	4%	1%	8%

Since you bring it to the table...how would you suggest the UK addressed the very real problem that millions have zero (or effectively zero) long term savings/pensions provision? I’m curious as pensions are discussed frequently within these pages but mostly only from the perspective of public sector pensions. Pensions that frequently have employer contributions in the order of 20% (of course this is mostly fictional contributions). Yet I seem to be the only contributor that ever raises the seemingly deliberately overlooked issue of private sector workers, millions of them, frequently the relatively low paid, with near zero long term financial planning.

[skwdenyer]

scenario8 said:

Since you bring it to the table...how would you suggest the UK addressed the very real problem that millions have zero (or effectively zero) long term savings/pensions provision? I’m curious as pensions are discussed frequently within these pages but mostly only from the perspective of public sector pensions. Pensions that frequently have employer contributions in the order of 20% (of course this is mostly fictional contributions). Yet I seem to be the only contributor that ever raises the seemingly deliberately overlooked issue of private sector workers, millions of them, frequently the relatively low paid, with near zero long term financial planning.

It is hard. In the US, a similar problem (except in the sense of healthcare) was tackled in pretty much the same way. A lot of people who would be beneficiaries are very unhappy; many of them vote; you know the rest.

I don't think the question was really about whether this is a good idea in general, however; it was about what effect it might have in the short term on a great many businesses. Much of the UK is on something of a financial knife-edge.

What I'd like is for Gordon [Unmentionable] Brown's pension fund tax to be hypothecated into an (untaxed) fund to provide for the state pension starting in, say, 20 years' time. That might help quite a bit.

[cuprabob]

Jacques Vert preparing to go ino Administration with 1,000 jobs at risk.

Edited by cuprabob on Thursday 3rd May 19:22

[condor]

That's a shame I've quite a lot of their outfits - liked their bold colours and tailoring.

[skwdenyer]

condor said:

That's a shame I've quite a lot of their outfits - liked their bold colours and tailoring.

Tillman didn't quite get there - unless he's going to buy it again in a 2nd pre-pack

https://fashionunited.uk/news/business/harold-till...

[briang9]

hyphen said:

Didn't realise physical travel agents were still busy and an opportunity for growth?

Would be very surprised if they are TBH

[Digga]

skwdenyer said:

scenario8 said:

Since you bring it to the table...how would you suggest the UK addressed the very real problem that millions have zero (or effectively zero) long term savings/pensions provision? I’m curious as pensions are discussed frequently within these pages but mostly only from the perspective of public sector pensions. Pensions that frequently have employer contributions in the order of 20% (of course this is mostly fictional contributions). Yet I seem to be the only contributor that ever raises the seemingly deliberately overlooked issue of private sector workers, millions of them, frequently the relatively low paid, with near zero long term financial planning.

It is hard. In the US, a similar problem (except in the sense of healthcare) was tackled in pretty much the same way. A lot of people who would be beneficiaries are very unhappy; many of them vote; you know the rest.

I don't think the question was really about whether this is a good idea in general, however; it was about what effect it might have in the short term on a great many businesses. Much of the UK is on something of a financial knife-edge.

What I'd like is for Gordon [Unmentionable] Brown's pension fund tax to be hypothecated into an (untaxed) fund to provide for the state pension starting in, say, 20 years' time. That might help quite a bit.

^All of this.

It's neither my job, interest or purpose to propose how to fix chronic lack of savings. Or, for that matter, to point out the nihilism of consumerism 'to the max'.

However, I'm just putting it out there because it is a substantial elephant in the room for both the overall economy and especially the high street.

And yes, Gordon Brown, single-handed and eyed, destroyed the public's faith in the idea and institution of retirement saving.

[PurpleMoonlight]

Digga said:

And yes, Gordon Brown, single-handed and eyed, destroyed the public's faith in the idea and institution of retirement saving.

He isn't alone.

All Governments have to a greater or lesser extent attacked pensions to raise revenue.

[HTP99]

HTP99 said:

KTF said:

House of Fraser now looking to close stores and restructure: http://www.bbc.com/news/business-43973149

I think I read they are potentially going to close 20 out of their 59 stores, my eldest works in a H of F store!

The area manager of the concession that she works for has given her the heads up that she is likely to be made redundant as they are closing all but 1 store of who she works for and one of the managers of H of F rang her last night out of the blue and advised her to get looking for a new job.

The Guildford store is big, so that would be many job losses, however John Lewis have been wanting to get into Guildford for quite some time so if H of F goes, this could be a good opportunity for them, however that would almost certainly mean the death of the Debenhams.

[kingston12]

HTP99 said:

The area manager of the concession that she works for has given her the heads up that she is likely to be made redundant as they are closing all but 1 store of who she works for and one of the managers of H of F rang her last night out of the blue and advised her to get looking for a new job.

The Guildford store is big, so that would be many job losses, however John Lewis have been wanting to get into Guildford for quite some time so if H of F goes, this could be a good opportunity for them, however that would almost certainly mean the death of the Debenhams.

I can't understand how Debenhams survives in the same town as HoF, let alone if John Lewis came in. I haven't been into a Debenhams store for years, but their offer was so much poorer than the rest when I last did.

The remaining department stores do seem remarkably enduring. Up the road in Kingston, there is a big John Lewis right next to Bentalls and both seem to be amongst the busiest in the town. The one that amazes me is Heals. They still seem to carry on despite being nowhere near as busy, much more expensive and in the worst part of the town.

[anonymous-user]

kingston12 said:

HTP99 said:

The area manager of the concession that she works for has given her the heads up that she is likely to be made redundant as they are closing all but 1 store of who she works for and one of the managers of H of F rang her last night out of the blue and advised her to get looking for a new job.

The Guildford store is big, so that would be many job losses, however John Lewis have been wanting to get into Guildford for quite some time so if H of F goes, this could be a good opportunity for them, however that would almost certainly mean the death of the Debenhams.

I can't understand how Debenhams survives in the same town as HoF, let alone if John Lewis came in. I haven't been into a Debenhams store for years, but their offer was so much poorer than the rest when I last did.

The remaining department stores do seem remarkably enduring. Up the road in Kingston, there is a big John Lewis right next to Bentalls and both seem to be amongst the busiest in the town. The one that amazes me is Heals. They still seem to carry on despite being nowhere near as busy, much more expensive and in the worst part of the town.

I have a relative who works in the Guildford HoF that I am seeing tomorrow so be interesting to hear the news from the coal face. The Guildford store must be one of their flagship stores, if I was putting my money one any HoF store closing it would have to be the one in Epsom as that is always empty.

I can't remember the last time I bought anything from HoF or Debenhams but I do shop in the Kingston John Lewis and Bentalls fairly often. Usually it is when I know exactly what I want (A TV last time) and I will buy it from whichever one has the lowest price, have to say, out of the two I prefer Bentalls.

[Digga]

PurpleMoonlight said:

Digga said:

And yes, Gordon Brown, single-handed and eyed, destroyed the public's faith in the idea and institution of retirement saving.

He isn't alone.

All Governments have to a greater or lesser extent attacked pensions to raise revenue.

You're taking the piss, right? Or you , like (sadly) most of the media and politicians, have absolutely no comprehension of quite the impact Brown had on retirement savings. Worst hit, of course, were those not too far off retirement.

That's like saying "leave Joe Stalin alone, all governments have wrongly imprisoned people".