High Street chain collapse sweepstake

Martin Phillp
Posts: 875
Joined: Wed 11 May, 2011 01.28

Wed 06 Feb, 2019 02.33

Some of those Brighthouse closures are in affluent towns, where the demand for high interest rates on a tatty sofa or a 55" tv aren't great. Either that or the clientele have twigged that it's simply not worth the hassle.
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james2001
Posts: 494
Joined: Sat 04 Jun, 2005 23.10

Wed 06 Feb, 2019 09.34

TVs are so cheap these days I wonder how many people even need to have one on credit, especially BrightHouse credit where the interest is probably significantly more than the cost of the TV, unless you're literally next to penniless. It's not like the old Radio Rentals days when they were expensive and often needed repairing, you can pick up a decent sized TV for less than a couple of hundred quid these days, unless you're really desperate for a room filling TV you don't really need and can't really afford.
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WillPS
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Location: Carlton
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Wed 06 Feb, 2019 10.04

It's an odd world where Trafford Centre and Meadowhall won't have an HMV but Mansfield Four Seasons will.
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cwathen
Posts: 1112
Joined: Fri 15 Aug, 2003 17.28

Wed 06 Feb, 2019 21.11

WillPS wrote:
Wed 06 Feb, 2019 10.04
It's an odd world where Trafford Centre and Meadowhall won't have an HMV but Mansfield Four Seasons will.
Personally, I think there was no strategy as to which branches will stay and go in terms of coverage, but the actual strategy was entirely around disposing of stores with the longest leases. I can't think how else they would end up shutting their Plymouth and Exeter stores (which after the last administration were the only two left in Devon and both were in major city centres) yet they retained stores in Truro and Taunton.

They've now got a store in Cornwall, a store in Somerset, but nothing at all in the somewhat large county in between the two! As already documented, the reverse has occured elsewhere where a Fopp and an HMV continue to co-exist around the corner from each other.

I think the decision to close 363 Oxford Street is all we need to know as regards to how long HMV will last this time. Granted, despite media reports to the contrary HMV hasn't been there for almost a hundred years; they buggered off from that site in 2000 and only moved back there in 2013 as part of the Hilco buyout. However, for most of it's existence that has been the flagship HMV store, the original HMV store, and they've shut it with no plans to open any replacement on Oxford Street (which is different to it's original closure when it was replaced with a larger store). Whether it was the correct business decision or not, surely from a point of view of image it was essential that particular store be saved if there is to be any confidence that HMV has truly been saved.

I think this is just more re-arranging the deckchairs on the Titanic and we'll be back here again sooner rather than later.
james2001
Posts: 494
Joined: Sat 04 Jun, 2005 23.10

Wed 06 Feb, 2019 23.27

WillPS wrote:
Wed 06 Feb, 2019 10.04
It's an odd world where Trafford Centre and Meadowhall won't have an HMV but Mansfield Four Seasons will.
One of the few things we have left after the town centre's been run down the last 15 or so years.
Charlie Wells
Posts: 252
Joined: Tue 02 Nov, 2004 16.23
Location: Cambridgeshire

Thu 07 Feb, 2019 09.56

cwathen wrote:
Wed 06 Feb, 2019 21.11
WillPS wrote:
Wed 06 Feb, 2019 10.04
It's an odd world where Trafford Centre and Meadowhall won't have an HMV but Mansfield Four Seasons will.
Personally, I think there was no strategy as to which branches will stay and go in terms of coverage, but the actual strategy was entirely around disposing of stores with the longest leases. I can't think how else they would end up shutting their Plymouth and Exeter stores (which after the last administration were the only two left in Devon and both were in major city centres) yet they retained stores in Truro and Taunton.

They've now got a store in Cornwall, a store in Somerset, but nothing at all in the somewhat large county in between the two! As already documented, the reverse has occured elsewhere where a Fopp and an HMV continue to co-exist around the corner from each other.

I think the decision to close 363 Oxford Street is all we need to know as regards to how long HMV will last this time. Granted, despite media reports to the contrary HMV hasn't been there for almost a hundred years; they buggered off from that site in 2000 and only moved back there in 2013 as part of the Hilco buyout. However, for most of it's existence that has been the flagship HMV store, the original HMV store, and they've shut it with no plans to open any replacement on Oxford Street (which is different to it's original closure when it was replaced with a larger store). Whether it was the correct business decision or not, surely from a point of view of image it was essential that particular store be saved if there is to be any confidence that HMV has truly been saved.

I think this is just more re-arranging the deckchairs on the Titanic and we'll be back here again sooner rather than later.
If I recall correctly from visiting Exeter last year that branch of HMV had two floors and each floor was quite large. I imagine the rates and rent on such a premises was rather sizeable, not to mention the cost of needing additional staff. I imagine not buying that store (and others) from the administrators allows them to get out of the existing lease/contract without paying a substantial penalty. It's not beyond possibility that in a couple of years a couple HMV stores might re-open in a nearby location but in significantly smaller premises.
"If ass holes could fly then this place would be an airport."
thegeek
Posts: 499
Joined: Sat 04 Jun, 2005 12.35

Fri 08 Feb, 2019 19.06

thegeek wrote:
Tue 05 Feb, 2019 22.58
Sad to see Glasgow's Byres Road branch on the list
Apparently it's to remain open after all.

I wonder if there will be others?

In other Glasgow retail news...
thegeek wrote:
Fri 12 Oct, 2018 18.53
Mike Ashley is going to spend £95m on the Frasers building in Glasgow

I give the business two years, and within three the empty building will mysteriously go on fire.
Apparently Mike Ashley turned up to have a look around and was slightly surprised to find that he hadn't actually bought the whole building, and there were parts which were owned by others - so is going to have to stump up some more cash for the rest.

Oh, and speaking of Mr Ashley:
GeekyJames
Posts: 4
Joined: Sun 09 Sep, 2018 22.14

Sat 09 Feb, 2019 22.51

There's hope the remaining 27 stores will reopen:

https://www.theguardian.com/business/20 ... all-stores

Walking past the Chichester branch today, the store was closed but with all stock remaining.
gottago
Posts: 113
Joined: Thu 29 Jan, 2009 19.50

Sun 10 Feb, 2019 00.06

Even reading that article I still don’t get how there can be anything more than a few years left in the business. Surely vinyl can’t keep a large chain going? Once that fad’s gone what have they got left? Game has at least managed to make some of their stores more of a destination with their new Belong format but there really isn’t an equivalent for HMV.
Andrew
Posts: 253
Joined: Fri 15 Aug, 2003 18.18

Sun 10 Feb, 2019 11.16

cwathen wrote:
Wed 06 Feb, 2019 21.11
I think the decision to close 363 Oxford Street is all we need to know as regards to how long HMV will last this time. Granted, despite media reports to the contrary HMV hasn't been there for almost a hundred years; they buggered off from that site in 2000 and only moved back there in 2013 as part of the Hilco buyout. However, for most of it's existence that has been the flagship HMV store, the original HMV store, and they've shut it with no plans to open any replacement on Oxford Street (which is different to it's original closure when it was replaced with a larger store). Whether it was the correct business decision or not, surely from a point of view of image it was essential that particular store be saved if there is to be any confidence that HMV has truly been saved.

I think this is just more re-arranging the deckchairs on the Titanic and we'll be back here again sooner rather than later.
I'm not sure that is strictly true, imagine how much the rents will be on Oxford Street. I'm also thinking that the large foreign tourist footfall won't help when you are flogging english language UK format CDs and DVDs.

I expect it will have been done on the individual store's profitability. It's quite likely smaller towns without much competition will make more profit than massive stores in prime locations in the biggest cites.
Martin Phillp
Posts: 875
Joined: Wed 11 May, 2011 01.28

Sun 10 Feb, 2019 16.17

Andrew wrote:
Sun 10 Feb, 2019 11.16
cwathen wrote:
Wed 06 Feb, 2019 21.11
I think the decision to close 363 Oxford Street is all we need to know as regards to how long HMV will last this time. Granted, despite media reports to the contrary HMV hasn't been there for almost a hundred years; they buggered off from that site in 2000 and only moved back there in 2013 as part of the Hilco buyout. However, for most of it's existence that has been the flagship HMV store, the original HMV store, and they've shut it with no plans to open any replacement on Oxford Street (which is different to it's original closure when it was replaced with a larger store). Whether it was the correct business decision or not, surely from a point of view of image it was essential that particular store be saved if there is to be any confidence that HMV has truly been saved.

I think this is just more re-arranging the deckchairs on the Titanic and we'll be back here again sooner rather than later.
I'm not sure that is strictly true, imagine how much the rents will be on Oxford Street. I'm also thinking that the large foreign tourist footfall won't help when you are flogging english language UK format CDs and DVDs.
Oxford Street also sold foreign language CDs and DVDs, although the CD selection was reduced when they moved back to 363 under Hilco.
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