The Retail Apocalypse (Incorporating Casual Dining Closures)

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Vermilion
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Vermilion » Tue Jan 28, 2020 8:05 am

https://www.bbc.co.uk/news/uk-england-norfolk-51239822

Not sure if anyone noticed this, but Hawkins Bazaar has gone into administration again.

I blame the curse of the Funko Pops.

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Lex-Man
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lex-Man » Tue Jan 28, 2020 8:14 am

Vermilion wrote:https://www.bbc.co.uk/news/uk-england-norfolk-51239822

Not sure if anyone noticed this, but Hawkins Bazaar has gone into administration again.

I blame the curse of the Funko Pops.


To be fair these kind of places are always going bust. I've seen a bunch of different brands that are basically the same thing go under over the years.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Jenuall » Tue Jan 28, 2020 8:55 am

Lex-Man wrote:
Vermilion wrote:https://www.bbc.co.uk/news/uk-england-norfolk-51239822

Not sure if anyone noticed this, but Hawkins Bazaar has gone into administration again.

I blame the curse of the Funko Pops.


To be fair these kind of places are always going bust. I've seen a bunch of different brands that are basically the same thing go under over the years.

I dropped £50 in there on some Lego before Christmas. Found out 5 minutes later that it was nearly half that price in Tesco so took it back. I suspect a lot of these shops are just getting muscled out by the big boys who can take the hit on discounting more heavily.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by OrangeRKN » Tue Jan 28, 2020 9:28 am

Chocolate-Milk wrote:
OrangeRKN wrote:What's the difference between new and as-new, unless you're keeping it shrink-wrapped for collection purposes only?

GAME have never been known for their delicate touch. Whenever I've bought new games there, the contents of the cases were just tossed with abandon into a draw behind the tills, which meant they usually had scuffed manuals at best, and scratched, finger-marked discs at worst.

Plus those massive price stickers are a twat to get off the cases.


I've bought from Game plenty of times and never had an issue, I imagine that depends a lot on the store/staff.

I've had problems with stickers on pre-owned games where they've been left on too long or had multiple stickers layered (and they're horrible on anything cardboard!) but normally they peel off the plastic without any issue - if the box has a sticker at all.

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Lex-Man
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lex-Man » Tue Jan 28, 2020 9:34 am

Jenuall wrote:
Lex-Man wrote:
Vermilion wrote:https://www.bbc.co.uk/news/uk-england-norfolk-51239822

Not sure if anyone noticed this, but Hawkins Bazaar has gone into administration again.

I blame the curse of the Funko Pops.


To be fair these kind of places are always going bust. I've seen a bunch of different brands that are basically the same thing go under over the years.

I dropped £50 in there on some Lego before Christmas. Found out 5 minutes later that it was nearly half that price in Tesco so took it back. I suspect a lot of these shops are just getting muscled out by the big boys who can take the hit on discounting more heavily.


They also just sell stuff that you don't really need. It's fun to look around but I don't think I've ever spent any money.

Amusement under late capitalism is the prolongation of work.
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Winckle » Tue Jan 28, 2020 9:57 am

I think Lex is close to hitting the nail on the head there. But the issue is twofold. Yes, they sell stuff "you don't really need", but with people's incomes being so squeezed by high rents and low pay, nobody has the disposable income to fritter on frivolities.

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Lex-Man
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lex-Man » Tue Jan 28, 2020 10:14 am

I can't remember the names of them all but the Gadget shop was basically Hawkins Bazaar and I've seen a number of other kinds come and go over the years.. I'm sure the economy doesn't help but those kinds of shops have a short shelf life anyway.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by KK » Thu Mar 12, 2020 1:09 pm

BBC News wrote:Shopping centre giant Intu warns it could go bust

The owner of some of the UK's biggest shopping centres, Intu, has said there are doubts that it can survive unless it raises extra funds.

Its comments came as the firm - which owns Manchester's Trafford Centre and the Lakeside complex in Essex - reported a £2bn loss in 2019.

The weakness in the retail sector meant Intu wrote down the value of its shopping centre sites by nearly £2bn.

Intu will try to raise extra cash after an earlier plan to raise £1bn failed.

The collapse and contraction of High Street retailers has left landlords such as Intu struggling to fill vacant space. At the same time, Intu has run up debts of nearly £5bn.

In January, the firm approached its shareholders to ask for more money amid the downturn in the retail sector.

But last week, Intu said it was at risk of breaching debt covenants after it was forced to abandon the fundraising attempt. It said "extreme market conditions" deterred investors from giving fresh cash.

To help it keep going, the firm said it would try to engage with investors, or it might have to sell more of its assets.

The company has already been selling shopping centres to raise cash.

Intu said it could also try to seek waivers on its debt commitments to lenders and spend less in the short term.

Last year was the "worst" for retail sales in 25 years, trade body the British Retail Consortium said in January.

Tough trading conditions in 2019 hurt landlords, who struggled to fill vacant stores.

Firms such as Debenhams, Toys R Us, House of Fraser, New Look and HMV all tried to negotiate with landlords to reduce rent.

Intu was hit by some of the most high-profile retail failures, as more firms shut up shop after more online competition and problems paying business rates and increased wages.

The firm's share price has collapsed since its high of 378p in December 2010.

Its shares stood at 34p when trading began at the start of 2020, and on Wednesday were worth about 4.7p after falling 17% in reaction to its results.

Intu's UK shopping centres

Braehead, Glasgow
Broadmarsh, Nottingham
Chapelfield, Norwich
Derby
Eldon Square, Newcastle
Lakeside, Essex
Merry Hill, West Midlands
Metrocentre, Gateshead
Milton Keynes
Potteries, Stoke-on-Trent
Trafford Centre, Manchester
Uxbridge
Victoria Centre, Nottingham
Watford

Centres run as joint ventures:

Manchester Arndale
St David's, Cardiff
The Mall, Cribbs Causeway

https://www.bbc.co.uk/news/business-51851791

Wow, they've really got themselves intu heavy debt.

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Preezy
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Preezy » Thu Mar 12, 2020 1:10 pm

Clearly don't have very good business intuition.

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Lex-Man
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lex-Man » Thu Mar 12, 2020 2:15 pm

Well not sure where I'm going to buy Christmas presents next year.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Vermilion » Thu Mar 12, 2020 2:20 pm

Thankfully i only use two of those (Cardiff & Cribbs), and neither of them very often.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by imbusydoctorwho » Thu Mar 12, 2020 3:03 pm

Been going to Chaplefield quite regulary over the past 6 months, absolutely love the place, big shame if that goes.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Buffalo » Thu Mar 12, 2020 11:36 pm

The Metro Centre has been well and truly ran to the ground since they came in, all it’s former discernible character laid to waste by corporate uniformity. The amount of shops boarded up there is a real shame, but who’s got money for anything these days?

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lagamorph » Fri Mar 13, 2020 12:31 am

Buffalo wrote:The Metro Centre has been well and truly ran to the ground since they came in, all it’s former discernible character laid to waste by corporate uniformity. The amount of shops boarded up there is a real shame, but who’s got money for anything these days?

I remember years ago the Christmas decorations in the Metro Centre used to be amazing. But the last couple of years they've been crap to the point of near non-existent.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Chocolate-Milk » Fri Mar 13, 2020 12:46 am

Can't see the Trafford Centre going anywhere yet, they've only just finished the bastard tram lines!

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Buffalo » Fri Mar 13, 2020 12:49 am

Lagamorph wrote:
Buffalo wrote:The Metro Centre has been well and truly ran to the ground since they came in, all it’s former discernible character laid to waste by corporate uniformity. The amount of shops boarded up there is a real shame, but who’s got money for anything these days?

I remember years ago the Christmas decorations in the Metro Centre used to be amazing. But the last couple of years they've been crap to the point of near non-existent.


A lot of what made it feel unique is history. Remember the Mediterranean Village?

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lagamorph » Fri Mar 13, 2020 12:56 am

Buffalo wrote:
Lagamorph wrote:
Buffalo wrote:The Metro Centre has been well and truly ran to the ground since they came in, all it’s former discernible character laid to waste by corporate uniformity. The amount of shops boarded up there is a real shame, but who’s got money for anything these days?

I remember years ago the Christmas decorations in the Metro Centre used to be amazing. But the last couple of years they've been crap to the point of near non-existent.


A lot of what made it feel unique is history. Remember the Mediterranean Village?

Used to be a great shop in that area that sold handmade leather jackets for really decent prices.

Also Metroland was ace when I was a kid :wub:

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Frank » Fri Mar 13, 2020 7:03 am

Shocked that they're in trouble considering they're currently shouting about a ten million pound refurbishment to the OUTSIDE of Merry Hill, while inside more and more shops close.

They're completely useless. Their big plan for rejuvenating the centre was building *another* cinema :fp: Whatever happened to the ice rink that was promised probably about fifteen years ago?

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Return_of_the_STAR » Fri Mar 13, 2020 7:27 am

Intu’s problem is they grew too quickly via debt and now can’t afford the repayments. The centres themselves are actually still very profitable.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Godzilla » Fri Mar 13, 2020 12:54 pm

Lagamorph wrote:
Buffalo wrote:
Lagamorph wrote:
Buffalo wrote:The Metro Centre has been well and truly ran to the ground since they came in, all it’s former discernible character laid to waste by corporate uniformity. The amount of shops boarded up there is a real shame, but who’s got money for anything these days?

I remember years ago the Christmas decorations in the Metro Centre used to be amazing. But the last couple of years they've been crap to the point of near non-existent.


A lot of what made it feel unique is history. Remember the Mediterranean Village?

Used to be a great shop in that area that sold handmade leather jackets for really decent prices.

Also Metroland was ace when I was a kid :wub:


Yay for MetroCentre nostalgia!

Mediterranean village was so cool as a kid. I used to love that the entire centre had real trees inside and also loads of water pools. All with coins in.

Metro land was staggeringly gooseberry fool, but that made it awesome. The last place you could smoke in the metro centre was actually the arcade in metro land.

The old cinema was the best though, right next to pizza hut and a random sweet shop. I saw Harry and the Henderson's, Willow, Jurassic Park and Who Framed Roger Rabbit there.

Also before they build Debenhams and the new bit they had a massive Asda and the cafe was upstairs so you could look out on shoppers as you ate.

Anyone remember metropolis? Upstairs above Argos,, wasn't around for long, was a crap version of Forbidden Planet selling Austin Powers toys and Biker Mice from Mars figures. Surprisingly the customers weren't there to keep it going.

BHS and Littlewoods were always great for breakfast too. Especially Littlewoods, full English for £2 or so.

Was thet yesterday and the whole place is flat. The games bit under the cinema is scum city with permanent lines outside McDonald's and the kids left to wander the arcade.

The fact that the huge area upstairs next to Next is still empty shows how bad things are. Loads of shops and a massive space just sitting there.

The best shopping center in the north east is still The Galleries, it has a northern grimness that nothing else can capture, in shops, stinking doughnut shop and pensions pushing trolleys around the full centre ... Also all the boring shops like banks etc are upstairs. Genius design.

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