Is the High Street doomed

Discussion in 'UK politics, current affairs and news' started by hash tag, May 22, 2018.

  1. cupid_stunt

    cupid_stunt Dyslexic King Cnut the Great.

    It's over a billion owed.

    The Aussies seriously fucked it up, how the hell did they go from buying it for £340m in 2016, and selling it for £1, with massive debts, just over 2 years later. :facepalm:

     
    SpookyFrank and Bahnhof Strasse like this.
  2. hash tag

    hash tag Pedicabo omnes

    Does all this money disappear into directors pockets. The banks always end being owed millions as do suppliers and probably the taxman. It's not the staff who are probably on minimum wages. :mad:
     
  3. Casual Observer

    Casual Observer binoculars

    Must be an Aussie thing. Reminds me of Kerry Packer selling his TV network to Alan Bond for a billion dollars then buying it a couple of years later for 0.25 billion. Packer later said 'You only get one Alan Bond in your lifetime and I've had mine'. A shame he couldn't pull the same trick on Murdock. Bond later went to prison for fraud. Packer revolutionised cricket while Murdock interfered with democracy in other countries.
     
    cupid_stunt likes this.
  4. skyscraper101

    skyscraper101 0891 50 50 50

    Bunnings does very well in Aus, so they must've applied that logic to the takeover of Homebase without factoring in virtually everything which makes the UK market so very different to Australia.
     
    Dom Traynor and cupid_stunt like this.
  5. cupid_stunt

    cupid_stunt Dyslexic King Cnut the Great.

    That certainly seems the back story to it.

    In better news, they have been saved, sad to see 1,500 jobs go, but on the positive side around 10,000 are saved.

    Homebase rescued from collapse but 1,500 jobs to go
     
  6. skyscraper101

    skyscraper101 0891 50 50 50

    Homebase is a basically the home decor and outdoor section of the Argos catalogue except you can walk around and browse.
     
  7. daah

    daah Banned Banned

    woaa.
     
  8. hash tag

    hash tag Pedicabo omnes

    Waterstones buys Foyles :confused: Interesting. Foyles new flagship in Charing Cross Road just a short walk from Waterstones Picadilly, not tomention Hatchards a few doors away. More closures and job losses?
    Waterstones buys Foyles 'to defend bookshops'
     
  9. hash tag

    hash tag Pedicabo omnes

    This doesn't look good either. Not the best of bike shops nor the worst, but been around a while now Yahoo is now part of Oath
     
  10. Dogsauce

    Dogsauce Lord of the Dance Settee

    Quite surprising as they have quite a strong online presence and are competitive with prices on the web, I’ve ordered quite a few bits from them. I guess they’re getting shafted a bit by the likes of Wiggle and maybe Amazon. Bike shops have been doing better in recent years with bike to work schemes & popularity of cycling increasing (both recreational and utility), although that money is spread around more retailers than it used to be.
     
  11. hash tag

    hash tag Pedicabo omnes

    Evans have expanded a lot in the last 10 years, which may not have been good for them. Apart from online, I think many non cyclists go to Halfords.
     
  12. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    debanhams have spent all weekend with KPMG

    bad news rising i think
     
    Poi E likes this.
  13. hash tag

    hash tag Pedicabo omnes

    No surprises there I don't think.
     
  14. stavros

    stavros Well-Known Member

    You'd initially think that for something like a bike, or for associated items, you'd want to "try it on" in the shop, rather than buy online. But then the same could be said for clothes before BHS, HoF, et al.
     
  15. cupid_stunt

    cupid_stunt Dyslexic King Cnut the Great.

    Mike Ashley must be wanking himself off tonight, he's was after Debenhams even before getting interested in House of Fraser.
     
  16. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    soemthing that has struck me is the the idea of shops being turned primarily into display outlets, to allow people to browse and take pics, then to hopefully go home and order online has a curious retro Soviet kinda vibe to it.Course luxury goods is more about the event rather than the product, so they fall outside this theme. Changes in consumption process seesm to be afoot.
     
    Badgers likes this.
  17. cupid_stunt

    cupid_stunt Dyslexic King Cnut the Great.

    John Lewis profits slump 99%

    That's one hell of a drop. :eek:
     
  18. hash tag

    hash tag Pedicabo omnes

    The nice Mr Ashley is probably waiting for Debs to go into liquidation, ignore the debts, flog the assets and turn a nice profit or have i misunderstood him?
     
  19. Saul Goodman

    Saul Goodman It's all good, man

    My local KFC has just closed its doors and is getting turned into a coffee shop.
     
    Dom Traynor likes this.
  20. Saul Goodman

    Saul Goodman It's all good, man

    The distance selling regulations mean you can send stuff back if you don't like it or it doesn't fit. What's the point going into a busy shop when you can do it from the comfort of your home?
     
    Badgers likes this.
  21. cybershot

    cybershot Well-Known Member

    Ditto with tech, buy from a shop, decide you don't like it, and you'll have a real struggle trying to get a cash refund. Online, use it to your hearts content for 14 days (maybe even longer now) decide you don't like it, or even, done what you've need to do with it, send it back, full refund. Amazon for all their ills in this thread for the downfall of the high street, but is a good argument in this case, will refund you as soon as it's scanned in at the point of return. Or at least, they seem to with me, maybe it requires to build a customer profile first and you get marked for returning goods in a resell able conditional. :confused:
     
    Dom Traynor and Saul Goodman like this.
  22. chilango

    chilango *shrugs*

    The "High Street" isn't just about shops and shopping though

    It's a physical location.

    A site, however gentrified or privatised or dominated by consumer society, of community of sorts.

    Where people meet. Do stuff together. See others doing stuff.

    That's the loss I'm interested in.
     
  23. Saul Goodman

    Saul Goodman It's all good, man

    Somebody needs to invent an app for the Amazon marketplace, that bumps into and pushes you, and makes you cold and wet, then makes you queue for 15 minutes before letting you pay, and once you have finally paid and left the marketplace, it deposits a lump of dog turd on your shoe.
     
    Badgers, MickiQ and cupid_stunt like this.
  24. chilango

    chilango *shrugs*

    I think it's already been released, but only to workers in Amazon's warehouses.
     
  25. SpookyFrank

    SpookyFrank Ridin' a Stutz Bearcat, Jim

    It's not an Aussie thing. Look at Philip Green's catastrophic ownership of BHS.
     
  26. Casual Observer

    Casual Observer binoculars

    You misunderstand my post, Frank. My post was specifically about Aussie tycoon incompetence in paying too much for a company then selling it off at a fraction of the price a few years later. The example I gave was Alan Bond buying Nine Network for AUS$1bn from Packer and then selling it back to Packer a few years later for a quarter of that price.

    Philip Green is another kind of species . Green, not an Aussie, bought BHS for peanuts, bum-raped the pension fund to the tune of a few hundred million, then sold the company to someone else for £1. The company went bust shortly thereafter. Green later paid £363m to the pension regulator to avoid prosecution.

    To avoid further misunderstanding, I'm not criticising Kerry Packer here. We both know he did great things for cricket
     
  27. Dogsauce

    Dogsauce Lord of the Dance Settee

    I keep reading this thread title as ‘is the High Street domed?’ and expect it to be about future utopian cities sealed in giant glass bubbles to protect against climate extremes or something.

    29877558-D7C5-4667-B9D8-45C7CC22026E.jpeg
     
  28. kenny g

    kenny g Totally Aware.

    :hmm::facepalm:
     
    TopCat likes this.
  29. Peter Chadwick

    Peter Chadwick New Member

    its not just the High Street .. its shopping malls and out of town stores too. Retail brick and mortar generally.
     
    Poi E likes this.
  30. hash tag

    hash tag Pedicabo omnes

    Noticed that both my local carphone warehouses have closed down and just found this, no big loss really

    Retailer Orla Kiely ceases trading on cash crunch - Retailer Orla Kiely ceases trading
     

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