The Retail Apocalypse (Incorporating Casual Dining Closures)

KK wrote:BBC had a weekly documentary on them a couple of years ago. The father is a bit stuck in his ways and isn’t really open to change and it’s killing the business.

Some very good bargains to be had in there though. I’ve bought major brands for between 70-80% off their RRP. Heinz organic beans for 50p a can instead of £1.10, that type of thing.

I remember that. He was gooseberry fool. The guy had ideas to turn around And he just ignored him.

And they continued to open stores. What struck me most in the documentary was the people running the stores shouldn’t be running them either. It’s a disaster just waiting to go tits up

Buffalo wrote:I do like it when us northeastern types recognise stuff together

I just don’t get why they didn’t strike a deal. As mentioned HOF will be next & that’s another huge unit. There’s no large stores anymore to take their places. I suppose there’s not a John Lewis there, but probably makes no sense to add one (certainly not to that size) with the Newcastle one 5 mins over the water

The Metro Centre is going to become a barren wasteland, little by little, isn't it?

Should never have closed Metroland.

gaminglegend wrote:

Buffalo wrote:I do like it when us northeastern types recognise stuff together

I just don’t get why they didn’t strike a deal. As mentioned HOF will be next & that’s another huge unit. There’s no large stores anymore to take their places. I suppose there’s not a John Lewis there, but probably makes no sense to add one (certainly not to that size) with the Newcastle one 5 mins over the water

Aren't John Lewis struggling and basically being propped up by Waitrose at this point? I don't think they'll be in a hurry to open any new stores, let alone big ones.

If Metro Center wanted a big name department store to replace Debenhams or Hoise Of Fraser they could maybe try and get Harvey Nichols, nearest one is in Leeds.

Problem with the Metro Center is everytime they do it out they make it worse. Getting rid of the Mediterranean Village was a really stupid move.
The Christmas Decorations used to be amazing as well, but the last few years they've been utter rubbish.

Lagamorph wrote:I'm still ashamed of the time last year when a Poundshop opened on Redcar High Street and there were literally queues down the street on opening morning for it.

For a strawberry floating Pound shop!

Same thing happened here, i think (in this town anyways) it's a case of people get so bored that they're desperate for anything new, no matter what it actually is.

Go Outdoors set to call in administrator

Thousands of jobs are in jeopardy at Go Outdoors as the chain teeters on the brink of collapse.

Go Outdoors, which sells bikes, tents and waterproof clothes, is understood to have lined up restructuring experts from Deloitte. It is among retailers suffering from a sharp downturn in sales due to the virus crisis.

The chain, which employs 2,400 staff across its 67 stores, is owned by JD Sports, the FTSE 100 group led by Peter Cowgill. Go Outdoors lost £291.1m in the six months to August 3 last year.

Lagamorph wrote:Go Outdoors set to call in administrator

Thousands of jobs are in jeopardy at Go Outdoors as the chain teeters on the brink of collapse.

Go Outdoors, which sells bikes, tents and waterproof clothes, is understood to have lined up restructuring experts from Deloitte. It is among retailers suffering from a sharp downturn in sales due to the virus crisis.

The chain, which employs 2,400 staff across its 67 stores, is owned by JD Sports, the FTSE 100 group led by Peter Cowgill. Go Outdoors lost £291.1m in the six months to August 3 last year.

I understood these were doing well but reading into them apparently not for a few years. I’m guessing the size of the units and rent against income isn’t helping either. That and combined with Covid just pushed it over the edge I guess.

Always been surprised Mountain Warehouse is still around & Cotswold. But I know Cotswold are closing a lot of stores & restructuring anyway it might end up being just one of them remains I guess

gaminglegend wrote:

Lagamorph wrote:Go Outdoors set to call in administrator

Thousands of jobs are in jeopardy at Go Outdoors as the chain teeters on the brink of collapse.

Go Outdoors, which sells bikes, tents and waterproof clothes, is understood to have lined up restructuring experts from Deloitte. It is among retailers suffering from a sharp downturn in sales due to the virus crisis.

The chain, which employs 2,400 staff across its 67 stores, is owned by JD Sports, the FTSE 100 group led by Peter Cowgill. Go Outdoors lost £291.1m in the six months to August 3 last year.

I understood these were doing well but reading into them apparently not for a few years. I’m guessing the size of the units and rent against income isn’t helping either. That and combined with Covid just pushed it over the edge I guess.

Always been surprised Mountain Warehouse is still around & Cotswold. But I know Cotswold are closing a lot of stores & restructuring anyway it might end up being just one of them remains I guess

Mountain warehouse aren’t far off from disappearing either I feel.

Return_of_the_STAR wrote:

gaminglegend wrote:

Lagamorph wrote:Go Outdoors set to call in administrator

Thousands of jobs are in jeopardy at Go Outdoors as the chain teeters on the brink of collapse.

Go Outdoors, which sells bikes, tents and waterproof clothes, is understood to have lined up restructuring experts from Deloitte. It is among retailers suffering from a sharp downturn in sales due to the virus crisis.

The chain, which employs 2,400 staff across its 67 stores, is owned by JD Sports, the FTSE 100 group led by Peter Cowgill. Go Outdoors lost £291.1m in the six months to August 3 last year.

I understood these were doing well but reading into them apparently not for a few years. I’m guessing the size of the units and rent against income isn’t helping either. That and combined with Covid just pushed it over the edge I guess.

Always been surprised Mountain Warehouse is still around & Cotswold. But I know Cotswold are closing a lot of stores & restructuring anyway it might end up being just one of them remains I guess

Mountain warehouse aren’t far off from disappearing either I feel.

Really, I thought they had tied up the budget end of the market pretty well. There does seem to be an excess of outdoor brands about though.

Lex-Man wrote:

Return_of_the_STAR wrote:

gaminglegend wrote:

Lagamorph wrote:Go Outdoors set to call in administrator

Thousands of jobs are in jeopardy at Go Outdoors as the chain teeters on the brink of collapse.

Go Outdoors, which sells bikes, tents and waterproof clothes, is understood to have lined up restructuring experts from Deloitte. It is among retailers suffering from a sharp downturn in sales due to the virus crisis.

The chain, which employs 2,400 staff across its 67 stores, is owned by JD Sports, the FTSE 100 group led by Peter Cowgill. Go Outdoors lost £291.1m in the six months to August 3 last year.

I understood these were doing well but reading into them apparently not for a few years. I’m guessing the size of the units and rent against income isn’t helping either. That and combined with Covid just pushed it over the edge I guess.

Always been surprised Mountain Warehouse is still around & Cotswold. But I know Cotswold are closing a lot of stores & restructuring anyway it might end up being just one of them remains I guess

Mountain warehouse aren’t far off from disappearing either I feel.

Really, I thought they had tied up the budget end of the market pretty well. There does seem to be an excess of outdoor brands about though.

Actually scrap that, it was doing very well prior to covid. Assuming they can ride this out they should be fine especially if go out doors fold.

No festivals this year to keep the outdoor camping shops open

Looks like intu are on their last legs meaning several shopping centres across the UK could soon close. Seems they have until Friday to get themselves sorted.

https://www.sunderlandecho.com/business/metrocentre-and-eldon-square-could-close-owner-nears-administration-2892425

Cumberdanes wrote:Looks like intu are on their last legs meaning several shopping centres across the UK could soon close. Seems they have until Friday to get themselves sorted.

https://www.sunderlandecho.com/business/metrocentre-and-eldon-square-could-close-owner-nears-administration-2892425

I read a few months ago this wouldn’t force them to close due to Obviously the effect on all the tenants inside. Especially somewhere like Odeon which commands a huge section of the building.

I wonder what does happen? Ultimately it’s not as cut as dry as a store going bust and closing down. This effects a huge variety of tenants and employees

The tenants will just pay the administrators until a new landlord is found.

good time to be an administrator

Kezzer wrote:good time to be an administrator

Karl making bank

gaminglegend wrote:

Cumberdanes wrote:Looks like intu are on their last legs meaning several shopping centres across the UK could soon close. Seems they have until Friday to get themselves sorted.

https://www.sunderlandecho.com/business/metrocentre-and-eldon-square-could-close-owner-nears-administration-2892425

I read a few months ago this wouldn’t force them to close due to Obviously the effect on all the tenants inside. Especially somewhere like Odeon which commands a huge section of the building.

I wonder what does happen? Ultimately it’s not as cut as dry as a store going bust and closing down. This effects a huge variety of tenants and employees

Ah okay, I’ll hold my hand up and say I can’t even begin to comprehend how insolvency and such work.

Cumberdanes wrote:

gaminglegend wrote:

Cumberdanes wrote:Looks like intu are on their last legs meaning several shopping centres across the UK could soon close. Seems they have until Friday to get themselves sorted.

https://www.sunderlandecho.com/business/metrocentre-and-eldon-square-could-close-owner-nears-administration-2892425

I read a few months ago this wouldn’t force them to close due to Obviously the effect on all the tenants inside. Especially somewhere like Odeon which commands a huge section of the building.

I wonder what does happen? Ultimately it’s not as cut as dry as a store going bust and closing down. This effects a huge variety of tenants and employees

Ah okay, I’ll hold my hand up and say I can’t even begin to comprehend how insolvency and such work.

I’d not know either I foresee there’s a lot of legal challenges to it.

As I understand at the moment they can continue as normal in administration, but will need some cash flow to do so. If they don’t get that or a deal then it’s dire straits.

You’d imagine someone will take them over or pick up the pieces there’s evidently money to be made somewhere

Well, you'd think there was money to be made, yet they're calling in the administrators which kind of indicates perhaps not as much as needed.

Intu seem to be terrible at running shopping centres, though. Like recent developments at Merry Hill have been:

1) plans for a new cinema/eating area when it's already got a cinema and a decent spread of eateries (the food court is still pretty recent)
2) Spending 10 million pounds adding new aesthetic cladding to the outside of the building

...and clearly wanting so much from tenants it's completely unfeasible for businesses to stay open in there, so there's entire corners of the centre with empty store after empty store after empty store.

It was always just "oh we promise we're investing in this centre" with absolutely nothing to improve the quality of the shopping experience to show for it.

Can only assume some other company will pick up the centre if they do drop off the edge. Hopefully whoever does is a bit less awful.

Biggest annoyance is one of the previous owners of Merry Hill had planning permission for an ice rink which never materialised.