High Street chain collapse sweepstake

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WillPS
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Thu 09 Aug, 2018 10.06

sqwidge1978 wrote:
Wed 08 Aug, 2018 20.09
So Fraser in Edinburgh is due to close early

House of Fraser is required to exit the store from the 30 September 2018. The last day of trading will be Saturday 15 September. Here is a snippet from the statement.

"Employees of the store and our concession partners have been informed of the earlier than anticipated closure and our priority is to support them through this process.

"We are pleased to confirm that our nearby store Edinburgh Jenners has capacity to take on the number of shop floor colleagues who have so far expressed a desire to transfer at the point the store closes.

How does that work where they are able to offer all staff a job at Jenners, does that mean that Jenners were working understaffed, if not wouldnt employing all Fraser staff in Jenners affect Jenners bottom line profitability.
Could it be that they can't afford the redundancy payment bill?
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sqwidge1978
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Thu 09 Aug, 2018 19.38

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JAS84
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Thu 09 Aug, 2018 20.33

It's basically a new business. They closed down today.
https://www.bbc.co.uk/news/business-45135268
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Pete
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Thu 09 Aug, 2018 20.45

I wonder if Jenners is on a lease or whether they own the building outright.
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thegeek
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Thu 09 Aug, 2018 21.20

Pete wrote:
Thu 09 Aug, 2018 20.45
I wonder if Jenners is on a lease or whether they own the building outright.
It's owned by "a mystery investor".
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MarkAshley
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Thu 09 Aug, 2018 23.24

sqwidge1978 wrote:
Thu 09 Aug, 2018 19.38
Poundworld saved
JAS84 wrote:
Thu 09 Aug, 2018 20.33
It's basically a new business. They closed down today
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Charlie Wells
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Fri 10 Aug, 2018 08.20

Well this came slightly sooner than expected, though perhaps no surprise after the Chinese investors pulled out...
House of Fraser calls in administrators
https://www.bbc.co.uk/news/business-45140874
"If ass holes could fly then this place would be an airport."
g67bbx
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Joined: Sat 06 Jan, 2018 08.18

Fri 10 Aug, 2018 08.43

Charlie Wells wrote:
Fri 10 Aug, 2018 08.20
Well this came slightly sooner than expected, though perhaps no surprise after the Chinese investors pulled out...
House of Fraser calls in administrators
https://www.bbc.co.uk/news/business-45140874
I also was expecting this, albeit in a couple of weeks. Not now.
g67bbx
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Fri 10 Aug, 2018 08.49

g67bbx wrote:
Mon 22 Jan, 2018 19.46
g67bbx wrote:
Sat 06 Jan, 2018 08.37


I came across this forum by chance, thought I would add my own views on the subject.

Ones to watch in 2018:

Toys R Us - To be honest, it cant keep going for much longer. It will either fold completely or wind down to a few select sites.
Debenhams - Poor results over Christmas. I feel it will review its estate and cut out the deadwood shops, and put money into refurbishing the good ones.
House of Fraser - Seeking rent reductions. Unfortunately, I think it will end up going down the BHS route.
M&S - Store closures.
(Looks like the department stores are going to struggle this year)
Poundland (and Pep&Co) - Will be sold to new owner.
WHSmith - Just one to keep on the radar. Possible management/HO structure changes and closing of least profitable stores as leases end. Travel doing well.
TESCO - Possible Management changes and store redundancies.

That's it for now, but could be some changes as the retailers release their Christmas results. Next and ALDI have done very well over Christmas.
I was right about TESCO, 1700 store management jobs to go
http://www.bbc.co.uk/news/business-42779698
8 Months Later

Toys R Us - Gone
Debenhams - Closing stores
House of Fraser - Probably gone
M&S - Closing even more stores
Poundland - Closing some stores, mainly duplicates. Pep&Co being removed from some stores.
WHSmith - Management restructured and regions restructured TWICE this year! Loss making shops closing.
TESCO - Job losses and employment down.

A very bad year for retail!
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WillPS
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Fri 10 Aug, 2018 10.11

It's out of administration already: https://www.bloomberg.com/news/articles ... r-business

More: https://www.theguardian.com/business/20 ... talks-fail

I wonder if this means the Debenhams takeover plan is dead?
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cwathen
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Fri 10 Aug, 2018 10.34

WillPS wrote:
Fri 10 Aug, 2018 10.11
It's out of administration already: https://www.bloomberg.com/news/articles ... r-business

More: https://www.theguardian.com/business/20 ... talks-fail

I wonder if this means the Debenhams takeover plan is dead?
Notably, they've bought all of it, including the 31 stores earmarked for closure. So presumably this is now off and all HOF stores will carry on - for now at least anyway.
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