Business bankruptcies

[graveyard johnny]

18 hours ago, Saintslass said:

That's a bonus  The one town centre store in St Helens that I would love to see close is McDonalds.  Its clientele cause trouble every night and the place is strewn with its litter every morning.

I notice that as well as New Look, Select is now also in trouble. 

Meanwhile, Primark steams ahead and it doesn't even have a website!

is that mc donalds fault or a reflection on the standard of the clientele?

[Saintslass]

13 minutes ago, graveyard johnny said:

is that mc donalds fault or a reflection on the standard of the clientele?

I wasn't apportioning blame.  I just said that the town centre McDonalds was the one shop I would like to see close, due to the factors as described previously

[Saintslass]

18 hours ago, Mark S said:

All part of the race to the bottom. Cheap, cheap, cheap, no one paying full value anymore.

Yep, that's true.

I wonder how many people who shop at the cheap shops ever think about the working conditions of those who produce the clothes they buy?  While I understand some people have no option but to shop at cheap shops (unless they go to charity shops, which is a good way of getting some good clothing cheaply) there are also a lot of people who could pay more but choose not to and it is those people who I always want to challenge about the sourcing of their clothing.

[graveyard johnny]

1 minute ago, Saintslass said:

Yep, that's true.

I wonder how many people who shop at the cheap shops ever think about the working conditions of those who produce the clothes they buy?  While I understand some people have no option but to shop at cheap shops (unless they go to charity shops, which is a good way of getting some good clothing cheaply) there are also a lot of people who could pay more but choose not to and it is those people who I always want to challenge about the sourcing of their clothing.

when we were kids it was the same pair of school trousers (on the tick) until they didn't fit or became so shiny they were classed as silver! these days if a kid spills a drop of their fruit shoot on them its down to asda for another pair for next to nowt!

[Bedford Roughyed]

Bargain Booze on the list.

[Padge]

Wigan Council have just bought The Galleries complex,  this includes The Galleries, Market Gate Centre, the indoor market, outdoor market and the former Morrisons store.  The whole complex has been suffering a long slow lingering death. Its over 50% empty and the whole site probably contains about 30% of Wigan's retail space. The previous owners have put out several plans to revitalise it in the past but none have ever come to fruition so the council decided to step in.

 

[shaun mc]

43 minutes ago, Bedford Roughyed said:

Bargain Booze on the list.

Toys R Us and Prezzo restaurants

[graveyard johnny]

46 minutes ago, Bedford Roughyed said:

Bargain Booze on the list.

they bought out big in booze and rhythm and booze - its no cheaper than the supermarket deals- you booze you lose!

[Saintslass]

1 hour ago, Bedford Roughyed said:

Bargain Booze on the list.

Yes. I'm keeping my fingers crossed that this will come to pass!  For purely selfish reasons.  There is one near where I live and during the summer I have to put up with seeing drunk people pee (and worse) on the grass opposite my living room window, not to mention have fights and such like, as they all get their booze from the shop and then just hang around.

[Saintslass]

On Bargain Booze ... how can its parent company have a 'surprise' tax bill of £30m?  Did it jump out of the till at them or something?

[gingerjon]

On 26/03/2018 at 8:35 AM, Mark S said:

Retail is in serious trouble and I don't think that the internet is to blame. IMHO there are a number of factors including stagnant wages, costs of essentials increasing, cost of parking in city/town centres and movement towards non-branded clothes from websites aimed at the youth, Misguided, Boohoo etc.

It was the loading of external debt - similar to the Glazers and Man United - that did, in the end, for Toys R Us. So you can add 'hidden financial structures' to the problem.

[ckn]

1 hour ago, gingerjon said:

It was the loading of external debt - similar to the Glazers and Man United - that did, in the end, for Toys R Us. So you can add 'hidden financial structures' to the problem.

I think it's an outright scam that should be banned that allows someone (be it individual or company) to buy another company in this way.

I've no money but I'll buy your company by getting a bank to give me the money based on your company's value.  Oh, and I'll assume no personal risk because I'm not borrowing it, your company will.  If I can't make your company make enough money to pay the loans then I'll simply let it go bankrupt, walk away and damn the consequences for everyone else.

Edit: Oh, and I'll also loan the company some money at high interest rates and make myself a preferred debtor so that if it goes bang I get my money plus all the interest.

[Mark S]

15 minutes ago, ckn said:

I think it's an outright scam that should be banned that allows someone (be it individual or company) to buy another company in this way.

I've no money but I'll buy your company by getting a bank to give me the money based on your company's value.  Oh, and I'll assume no personal risk because I'm not borrowing it, your company will.  If I can't make your company make enough money to pay the loans then I'll simply let it go bankrupt, walk away and damn the consequences for everyone else.

Edit: Oh, and I'll also loan the company some money at high interest rates and make myself a preferred debtor so that if it goes bang I get my money plus all the interest.

Socialist!

[Saintslass]

Grainger Games has shut its doors in St Helens today.  I didn't even know this was a chain but apparently it is and apparently all their shops have now shut as their parent company has gone into administration.

Yet another empty shop in the shopping centre just bought by the council.