BensGrandad
New member
Just been announced on Smooth Radio News another High St shop to go into administration
Tory Britain. Did you expect anything else?
You were warned.
***cough*** - Woolworths !!!! But of course boom and bust had been irradiated by then.
Overpriced suits, can't compete with the Likes of TM Lewin in their core market from what I see. Market forces and business management, not politics.
***cough*** - Woolworths !!!! But of course boom and bust had been irradiated by then.
Surely this is another company suffering from on line shopping which is hitting all high street shops and is down to a change in shopping habits. As I mentioned on the BHS thread I wonder if M & S will follow shortly.
Pretty sure Woolworths was down to terrible management.
I raised Woolworths as a tongue in cheek example to HT because his implication was that no business failed under Labour and that under the Tories it is worse. So far, in the last 40 years, Woolworths is the biggest high street failure ..... and it was while Labour was in power
As is BHS. The biggest liability of their £1.3bn is a pension hole of £520m - almost half the liability. That is because Philip Green refused to pay what should be paid into the scheme .... he's still liable for a lot of it and has offered £80m to settle - which has been refused. I'm friends with the ex-purchasing director of BHS - she was made redundant by Mr Green. She often raised the fact that she was forced to buy the cheapest tat from the far east and China which couldn't compete with the then market leader M&S. So once again bad management.
I raised Woolworths as a tongue in cheek example to HT because his implication was that no business failed under Labour and that under the Tories it is worse. So far, in the last 40 years, Woolworths is the biggest high street failure ..... and it was while Labour was in power.
EDIT - but never mind, poor old Sir Philip Green is doing OK by building a new luxury boat in Italy fitted out with all the latest technology - Apple TV in every cabin etc. He must be feeling so sorry for the people he's screwed over.
Tata steel works, BHS, Austin Reed...dropping like flies now.
Pretty sure Woolworths was down to terrible management. Will never forget seeing a stack of Wigan Athletic calendars in the Western Road branch. Just because they were in the Prem probably didn't lead to a massive demand for them in Brighton! They also relied heavily on CDs.
Tata steel works, BHS, Austin Reed...dropping like flies now.
Blame the Chinese for dumping cheap steel for Tata.