BensGrandad
New member
Just been announced on Smooth Radio News another High St shop to go into administration
Got something to say or just want fewer pesky ads? Join us... 😊
Austin Reed in administration
- Thread starter BensGrandad
- Start date
Tory Britain. Did you expect anything else?
You were warned.
You were warned.
***cough*** - Woolworths !!!! But of course boom and bust had been irradiated by then.
KingstonSeagull
New member
Cheep soots?
grubbyhands
Well-known member
Perhaps it suits them?
I guess boom and bust is better then just bust?
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.
KingstonSeagull
New member
Have to agree here, everytime I go in to Austin Reed I look at the suit think that looks nice, look at the price and think bloody hell I will go to TM Lewin or Marks...
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.
BensGrandad
New member
- Thread starter
- #10
Surely this is another company suffering from on line shopping which is hitting all high street shops and is just down to a change in shopping habits. As I mentioned on the BHS thread I wonder if M & S will follow shortly.
Nothing like M&S surely. M&S is much more relevant from a merchandise perspective and also carries food etc. I know they have their struggles but they have many more strings to their bow
BensGrandad
New member
- Thread starter
- #12
Their overall trading figures have been bad for some time. What I dont understand is everybody keeps on about we are an obese nation but most shops dont stock goods in larger than 2xl. Surely until we reduce our size it makes sense to make and sell goods in larger sizes.
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.
glasfryn
cleaning up cat sick
we don't often agree ..........but that is spot on
Hillian1
( . ) ( . )
Blame the Chinese for dumping cheap steel for Tata.
Woolworths probably failed because it was far to easy to ''shoplift'' from it.
I remember as a kid, lots of my friends used to do their ''Christmas Shoplifting'' there
Blockbusters, Comet, Land of Leather, Borders Book Shops, Zavvi, Habitat, Threshers - all under Labour ( and that's just shops ).
On the positive side, Focus DIY went bust under the Tories so that must give them some credit. Vote Tory.
Always someone else's fault isn't it?