2019 Retailers in trouble thread

[Oakey]

Just been to Mothercare to look at their 'closing down sale'. What an absolute sham, they've jacked up all the prices by about 15-20percent then 'reduced' them by the same.

[ambuletz]

Brooking10 said:

Clintons is extremely knackered and there's no obvious saviour on the horizon.

The backstory behind its salvation when it went bust under the original owner (whose son is the eponymous Clinton) 10 years or so ago doesn't work in today's market.

There's a Card Factory in just about every mall or precinct location there's a Clinton's and they are struggling too but not to such an extent while independents still have a place to play on the actual high street as you highlight.

Edited by Brooking10 on Sunday 10th November 22:28

i do wonder this too. pretty much all the clintons around me that closed was replaced by a card factory or cheap 99p card store. sometimes i want to go clintons to try and get a 'nice' card (something that costs abit more), but there's never one around

[cuprabob]

Popped into my local Cintons yesterday and spent a quid on a couple of money wallets, so I've done my bit to help them

Normally I use the Card Factory but for once they didn't have what I was looking for.

[vaud]

Oakey said:

Just been to Mothercare to look at their 'closing down sale'. What an absolute sham, they've jacked up all the prices by about 15-20percent then 'reduced' them by the same.

Isn't it the administrators duty to maximise the return from the remaining stock?

[Oakey]

vaud said:

Isn't it the administrators duty to maximise the return from the remaining stock?

Most likely but is it legal to jack the prices of products up and then claim you're discounting them?

[LaurasOtherHalf]

So who’s on the list of companies you’d be mad to buy an xmas gift card from this year then?

[ambuletz]

Oakey said:

vaud said:

Isn't it the administrators duty to maximise the return from the remaining stock?

Most likely but is it legal to jack the prices of products up and then claim you're discounting them?

it depends how long the product was on the jacked up price. i dont remember the details, but he has to be higher price for a certain length of time before they're allowed to discount it again

[hyphen]

Oakey said:

Just been to Mothercare to look at their 'closing down sale'. What an absolute sham, they've jacked up all the prices by about 15-20percent then 'reduced' them by the same.

Which made their items the same price as everywhere else?

[vaud]

ambuletz said:

it depends how long the product was on the jacked up price. i dont remember the details, but he has to be higher price for a certain length of time before they're allowed to discount it again

https://www.asa.org.uk/advice-online/promotional-s...

https://marketinglaw.osborneclarke.com/advertising...

[Oakey]

hyphen said:

Which made their items the same price as everywhere else?

Pretty much, or in some cases more expensive

[Tryke3]

ambuletz said:

Oakey said:

vaud said:

Isn't it the administrators duty to maximise the return from the remaining stock?

Most likely but is it legal to jack the prices of products up and then claim you're discounting them?

it depends how long the product was on the jacked up price. i dont remember the details, but he has to be higher price for a certain length of time before they're allowed to discount it again

14 iirc

[Robertj21a]

Sambucket said:

Popped into a retail park today shops were fairly empty. Mamas and papas had more staff than customers, looking very glum. Yet car park was full and queues to get and out. What gives there?

Coffee shops, food hall ?

[jakesmith]

Guys as I was the OP on this thread, just a heads up that the 2019 Retailers In Trouble thread is currently arranging a CVA and renegotiating with suppliers and landlords, it has got into difficulty by the more appealing impending 2020 retailers in trouble thread.

[LaurasOtherHalf]

2019 ain't over yet Jake, a lot will be trying to bank some gift card sales and stall on paying the corp tax to live through to next year but I wouldn't bet the house on no one else going pop before the year's out.

[soxboy]

December 25th is the rent quarter day, if shops haven't had good enough Christmas sales that will be a key date.

[LaurasOtherHalf]

Yeah, you can stack things up until the next quarter, rent, corp tax, then VAT bill. For most the house of cards will come down in February I'd imagine when you risk irresponsible directorship by letting things continue. If things have been dire this quarter mind you there's bound to be someone kicking the can on boxing day.

[jakesmith]

Just a lighthearted joke as 2019 is nearly over and there will be a 2020 thread starting accordingly. Never mind!

[abzmike]

The point being that CVAs and prepacks are not conceived on the very morning a company runs out of funds,

[jakesmith]

abzmike said:

The point being that CVAs and prepacks are not conceived on the very morning a company runs out of funds,

Yes but its not Jan 1st either is it

[abzmike]

jakesmith said:

Yes but its not Jan 1st either is it

Same to assume you’re making preparations though... just in case...