Arcadia to shut up to 260 stores
Discussion
http://www.bbc.co.uk/news/business-15867924
Arcadia, the owner of Top Shop and BhS, reported a 38% fall in annual profits to £133m and says it expects to close up to 260 stores in the next few years.
Arcadia owner Sir Philip Green told the BBC the closures would come as store leases came up for renewal.
It also reported same-store UK sales down by 1.8%.
Arcadia, the owner of Top Shop and BhS, reported a 38% fall in annual profits to £133m and says it expects to close up to 260 stores in the next few years.
Arcadia owner Sir Philip Green told the BBC the closures would come as store leases came up for renewal.
It also reported same-store UK sales down by 1.8%.
MK4 Slowride said:
Yup that & the fact local councils are doing their very best to reduce parking and charge too much for what's there.
Hardly surprising really.
Plus business rates, plus rental rates, plus the costs of energy to open the stores, plus the increasing minimum wage.... Hardly surprising really.
A shame that the idiots in government (local and national) have no idea of the real world and how a business operates, in their minds there is an endless pot of money as whenever they want to waste cash they increase taxation
its hardly surprising profits are down with the current economic climate but to shut 260 stores and most likely laying off a few thousand staff in the process is hardly going to improve the situation.
while the fat
billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.
luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
while the fat
billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
nocarjames said:
luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
Obviously this might also play a part in his company's demise!nocarjames said:
its hardly surprising profits are down with the current economic climate but to shut 260 stores and most likely laying off a few thousand staff in the process is hardly going to improve the situation.
while the fat billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.
luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
So you moan about them shutting stores yet advise people not to shop there? Great logic.while the fat
billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
nocarjames said:
its hardly surprising profits are down with the current economic climate but to shut 260 stores and most likely laying off a few thousand staff in the process is hardly going to improve the situation.
while the fat billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.
luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
So what about all the people he employs whom pay NI and income tax?while the fat
billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
What about the VAT he will pay.
What about the Rents and rates on the shops?
I don't get the argument over Philip Green being a total tax exile, the left froth at the mouth in a delusional belief the guy doesn't pay any tax which is b
ks.nocarjames said:
its hardly surprising profits are down with the current economic climate but to shut 260 stores and most likely laying off a few thousand staff in the process is hardly going to improve the situation.
while the fat billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.
luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
Well, he did build the company up in the first place. He gave many thousands of people a job. So, it's not all bad.while the fat
billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
MK4 Slowride said:
Yup that & the fact local councils are doing their very best to reduce parking and charge too much for what's there.
Hardly surprising really.
£7.20 to park in York city centre for 4 hours on Monday. That was all the change we had between us, we both leave phones at home as it's an annual 'get away from it all' Christmas shopping trip so were unable to pay the £10+ for longer.Hardly surprising really.
We could have parked in the park and ride on the outskirts for £2, but then how would we return bulky items to the car when we'd bought them?
In the end, we went for a long lunch, bought a few things then went home. We'll do the majority of shopping online and next year go elsewhere. York's loss.
Eric Mc said:
Puggit said:
Eric Mc said:
It really does seem to me that the traditional High Street is essentially extinct.
Greedy landlords and councils must shoulder a large part of the blame.They seem not to be aware that the golden era is over.
nocarjames said:
its hardly surprising profits are down with the current economic climate but to shut 260 stores and most likely laying off a few thousand staff in the process is hardly going to improve the situation.
while the fat billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.
luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
Moron.while the fat
billionaire philip green sits on his yacht in monaco watching the tax avoided money come rolling in.luckily i have never had to shop in his stores but for those who do I would think twice about spending any more money with them, dispicable company that epitomises exactly what is wrong with this country today.
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