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Retailers Gone Into Administration
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MadeinSurrey



Joined: 11 Dec 2006
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PostPosted: Tue Mar 10, 2009 8:25 am    Post subject: Reply with quote

Principles used to do a good range for Men, but they dropped it several years ago. I used to buy a lot of my stuff from there.
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RockitRon



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PostPosted: Sat Mar 14, 2009 6:05 pm    Post subject: Reply with quote

Well it didn't take long. Virgin/Zavvi's Nottingham store reopened this morning as



The other three HMVs are still open - the staff in all three say they're not closing.
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nod



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PostPosted: Sun Mar 15, 2009 9:15 am    Post subject: Reply with quote

Zavvi are back online (new owners) Smile
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mark occomore



Joined: 07 Dec 2006
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PostPosted: Sun Mar 15, 2009 6:08 pm    Post subject: Reply with quote

MadeinSurrey wrote:
Principles used to do a good range for Men, but they dropped it several years ago. I used to buy a lot of my stuff from there.


I remember buying a nice jacket from Principles.


Last edited by mark occomore on Mon Mar 16, 2009 6:42 pm; edited 1 time in total
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nod



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PostPosted: Sun Mar 15, 2009 6:16 pm    Post subject: Reply with quote

mark occomore wrote:
MadeinSurrey wrote:
Principles used to do a good range for Men, but they dropped it several years ago. I used to buy a lot of my stuff from there.


I remember a nice jacket from Principles.


nice Rolling Eyes
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Boy Perkins



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PostPosted: Sun Mar 15, 2009 6:46 pm    Post subject: Reply with quote

Article in the S Times today showing that a quarter of the shops in the High street in Torquay are now shut! Town is to cut parking charges to encourage people in...

The likes of Tesco must be laughing their heads off!! They will survive and the others will find it twice as difficult to get going again.
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RockitRon



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PostPosted: Thu May 21, 2009 1:12 pm    Post subject: Reply with quote

Clinton's Cards has put its Birthdays subsidiary into administration
http://news.bbc.co.uk/1/hi/business/8060868.stm
which is one way of rationalising and cost-cutting your business at a stroke.

Meanwhile Adams the children's wear chain, bought out of administration for the second time by its owner John Shannon in February, has undergone a further contraction of its stores - both those in Nottingham have closed (one of them next door to the still vacant Woolworth).
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Helen May



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PostPosted: Thu May 21, 2009 2:01 pm    Post subject: Reply with quote

I heard that Clintons didn't have a particularly good Christmas (2008) so not surprising.

I think I heard that Bay (clothing) had gone into administration a couple of weeks ago but then I heard it again this weekend so not sure what the situation there is.

H
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mark occomore



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PostPosted: Fri Jul 17, 2009 4:35 pm    Post subject: Reply with quote

Carpet retailer Allied Carpets are the latest Allied to go into administration, as the stagnating housing market led to a fall in demand for carpets and flooring.

But 51 of its 217 stores and its insurance inspection business have been sold immediately, saving 400 jobs, administrator BDO Stoy Hayward said.

All stores are trading normally and outstanding customer orders will be fulfilled in all stores, it said.
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RockitRon



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PostPosted: Sun Jul 19, 2009 11:39 pm    Post subject: Reply with quote

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5851058/Allied-Carpets-goes-into-administration.html

Another of those dubious administration jobs which enables the chief executive of the failing company to keep the profitable part while the customers, employees and suppliers to the rest are left to sweat it out to see if they'll get their orders fulfilled or salaries and invoices paid.

Yes, Bay Trading went into administration and its stores closed.

British lingerie manufacturer Intimas, whose brands include Lepel and Charnos, has gone into administration. M&S shoppers need not worry - nearly all their underwear already comes from China.
http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article6715387.ece
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RockitRon



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PostPosted: Sat Jul 25, 2009 4:14 pm    Post subject: Reply with quote

Waitrose is in talks to rescue the Prince of Wales' premium food brand Duchy Originals. In return for a cash injection and taking on the operational costs Waitrose is to be given exclusivity to the product range. It's a takeover in all but name, but can't be called so because of Duchy's charitable commitments.
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RockitRon



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PostPosted: Wed Aug 05, 2009 3:07 pm    Post subject: Reply with quote

Poundworld has been enticed into Woolworth's prime spot in the Nottm Victoria Centre. There are still plenty of gaps, where Adams, Bay, Qube, The Pier, MVC, Principles, The Works and Partners Stationery used to be.
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RockitRon



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PostPosted: Fri Oct 02, 2009 10:29 pm    Post subject: Reply with quote

Not out of the woods yet.

Wine Cellar has gone into administration this week, and then the most profitable stores have been sold to drinks distributor EFB in a "pre-pack" deal.
http://www.ft.com/cms/s/0/b1734d56-aee9-11de-96d7-00144feabdc0.html?nclick_check=1

Earlier this week both Jessops Cameras and Blacks Leisure narrowly avoided a similar fate. HSBC has done a debt-for-equity deal for the former, and state-owned Lloyds Bank has agreed to continue support to the latter, after poor/falling sales broke banking covenants. 89 Blacks/Milletts shops are to close.

Waitrose/John Lewis has finalised the deal to take on the Duchy Original brand, and will expand it to make it their premium, as against the standard and Essentials, range of products. The Prince of Wales charities will get an annual royalty of at least 2m in payment.
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mark occomore



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PostPosted: Tue Oct 13, 2009 12:33 pm    Post subject: Reply with quote

Newcastle Brown Ale are to lay off staff.

http://news.bbc.co.uk/1/hi/england/tyne/8304274.stm
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RockitRon



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PostPosted: Thu Oct 29, 2009 11:36 pm    Post subject: Reply with quote

Threshers, off-licence (up here they call them "beer-offs") chain, is the latest high-profile name to go into administration
http://news.bbc.co.uk/1/hi/business/8332813.stm
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mark occomore



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PostPosted: Sat Oct 31, 2009 12:46 pm    Post subject: Reply with quote

The days going to your local off licence are near enough died off. These big supermarkets are running them out of town. It's a shame another house hold name has gone down the pan.
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Ian Robinson
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PostPosted: Tue Nov 24, 2009 2:04 pm    Post subject: Reply with quote

Looks like Borders could be next:
http://news.bbc.co.uk/1/hi/business/8376394.stm

If there was one near me I'd be in there all the time - but I'm not sure I'd buy much!
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RockitRon



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PostPosted: Tue Nov 24, 2009 8:00 pm    Post subject: Reply with quote

They have been struggling for years - each change of ownership has been a rescue.

With a few exceptions the stores are not in prime locations, which limits their attractiveness to a prospective buyer like Smiths or HMV (Waterstones), and where they are there's usually a Waterstones just around the corner. They'll look nowhere beyond the bottom line - those that are making a good profit now will probably be bought, the rest will close.
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MadeinSurrey



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PostPosted: Wed Nov 25, 2009 8:17 am    Post subject: Reply with quote

It'll be a shame if Borders goes under - they have a great store in Brighton. I can't stand Waterstones, don't know why, just don't like their vibe!
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RockitRon



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PostPosted: Wed Nov 25, 2009 9:05 am    Post subject: Reply with quote

A reminder - if anyone's got any of their gift cards/vouchers, use them as soon as you can, they're worthless as soon as administration kicks in.
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MadeinSurrey



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PostPosted: Wed Nov 25, 2009 9:33 am    Post subject: Reply with quote

Good point Ron, I wonder if there'll be rather fewer vouchers given this Christmas as people worry about companies going under....
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John W



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PostPosted: Wed Nov 25, 2009 1:53 pm    Post subject: Reply with quote

Our local Borders store is in Coventry, in an out-of-town big-brand shopping development next to the football stadium, and it's a fabulous shop with the widest range of magazines and CDs imaginable, and it has a Starbucks inside too. WHSmith in the city does not come close.
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RockitRon



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PostPosted: Wed Nov 25, 2009 8:13 pm    Post subject: Reply with quote

Pure conjecture, but, geographically, that looks as if it would be the ideal place for a Waterstones, with an HMV entertainment section/floor.

(It has always surprised me that they have not already, in some locations, combined the two names under one roof. I have noticed recently that Waterstone has reduced the range of the "back catalogue" and specialist publications it carries in the stores, so that there is quite a bit of free space available, so that may be an option for the future.)

The bottom line will be the bottom line. If the store makes good profits and the rental is reasonable they'll pick it up, irrespective of the other branch in the city.
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RockitRon



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PostPosted: Fri Nov 27, 2009 9:10 am    Post subject: Reply with quote

The line has been crossed
http://news.bbc.co.uk/1/hi/business/8380268.stm
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RockitRon



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PostPosted: Tue Dec 01, 2009 5:21 pm    Post subject: Reply with quote

Borders has started Closing Down sales in all stores
http://news.bbc.co.uk/1/hi/business/8385117.stm

Elsewhere, the administrators of First Quench, the company that includes Threshers, Wine Rack and Local, have, despite early optimism, been unable to find buyers for the stores - only a handful, and the Wine Rack name, have been sold. The remaining stores have or will shortly all close.

The owners of Coventry Airport face a winding-up order by HMRC
http://news.bbc.co.uk/1/hi/england/coventry_warwickshire/8387759.stm
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mark occomore



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PostPosted: Wed Dec 16, 2009 7:09 pm    Post subject: Not A Retailer An Airline Reply with quote

Flyglobespan has been placed in administration.

http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/8417183.stm

http://www.flyglobespan.com/
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Cherskiy



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PostPosted: Thu Dec 17, 2009 9:27 am    Post subject: Reply with quote

Borders suffered because folk buy books cheaper from Amazon, Play etc. - when they started out, they were a great source (for me) for imported American "hard" science fiction, titles you'd have to wait up to eighteen months to obtain elsewhere in the UK. When the same books started appearing on Amazon's Marketplace for 2 or more less (including p&p), it naturally became a no-brainer to give Borders a miss. WHS probably only survive because they sell plenty of other items and are located in town centres so get plenty of footfall.
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Angela W



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PostPosted: Thu Dec 17, 2009 1:56 pm    Post subject: Reply with quote

Borders in York was a recent discovery, I don't get out much. We couldn't get over the fantastic amount of stock in there and will be sorry to see it go.
We buy books and Cd's on every visit.
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RockitRon



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PostPosted: Wed Jan 20, 2010 2:41 pm    Post subject: Reply with quote

Trading in shares of Jessops, the camera company, has been suspended in advance of a winding-up. The stores which bear the name are no longer owned by the company, however - after a nifty bit of soft-shoe shuffling they're now in the hands of private equity and HSBC - and will continue to trade. In recent months they have been cutting back on the number of stores - there used to be three in the centre of Nottingham, now there's just one and a small concession in WH Smith.
http://news.bbc.co.uk/1/hi/business/8469819.stm
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mark occomore



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PostPosted: Thu Jan 28, 2010 3:02 pm    Post subject: Shop Direct Job Cuts. Reply with quote

http://news.bbc.co.uk/1/hi/business/8484908.stm
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RockitRon



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PostPosted: Wed Feb 17, 2010 8:15 pm    Post subject: Reply with quote

Readers' Digest UK has gone into administration, after failing to reach agreement with the pensions regulator about how to deal with the fund's deficit.

It will continue to trade while a buyer is sought, but don't expect to win any of those prize draws (I never did).

The US parent filed for Chapter 11 Bankruptcy protection last year.
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mark occomore



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PostPosted: Sun Feb 21, 2010 11:09 am    Post subject: Reply with quote

RockitRon wrote:
Readers' Digest UK has gone into administration, after failing to reach agreement with the pensions regulator about how to deal with the fund's deficit.

It will continue to trade while a buyer is sought, but don't expect to win any of those prize draws (I never did).

The US parent filed for Chapter 11 Bankruptcy protection last year.



I just put yours in a NO envelope along with mine Laughing
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RockitRon



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PostPosted: Wed Feb 24, 2010 1:44 pm    Post subject: Reply with quote

Laughing

Meanwhile, the disappearance of competition for mortgages has done for one of the country's leading brokers, John Charcol, which has done one of those sneaky pre-pack administration jobs - http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7301221/John-Charcol-saved-by-pre-pack-adminstration.html
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mark occomore



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PostPosted: Thu Jan 13, 2011 8:17 pm    Post subject: Reply with quote

I reckon HMV group who own 285 music stores and 212 waterstone's outlets could go under. People are downloading music and ordering on line. Asda and Tesco stores are selling the top 20 albums cheaper than HMV. It will be as big as Woolies if this does happen.
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ruddlescat



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PostPosted: Thu Jan 13, 2011 8:33 pm    Post subject: Reply with quote

Several Waterstones branches are to close following an announcement earlier this week

Whether that is the prelude to anything bigger I wouldn't like to say
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ColinB
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PostPosted: Thu Jan 13, 2011 10:18 pm    Post subject: Reply with quote

mark occomore wrote:
I reckon HMV group who own 285 music stores and 212 waterstone's outlets could go under. People are downloading music and ordering on line. Asda and Tesco stores are selling the top 20 albums cheaper than HMV. It will be as big as Woolies if this does happen.


You can't compare Waterstones with Tesco where book retailing is concerned. Tesco sells a limited range of pap aimed at plebs whereas Waterstones stocks a massive range of titles (even mine!). The real problem is that many people don't read books and are content will the usual mass-market dross.

If Waterstones hits the dust I will miss the two stores near me. But I'm in the minority.
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ruddlescat



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PostPosted: Thu Jan 13, 2011 10:24 pm    Post subject: Reply with quote

What is the title of your book Colin and what's it all about

Just being nosey Shocked
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ColinB
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PostPosted: Fri Jan 14, 2011 8:44 am    Post subject: Reply with quote

ruddlescat wrote:
What is the title of your book Colin and what's it all about

Just being nosey Shocked


I have four! Smile See: Amazon.co.uk for listing.

Three are my own and the fourth is one I co-authored. They're all approaching remaindering now - specialist-interest subjects don't sell in large quantities - and a couple of them have sold better in their USA editions. The problem with consumer electronics subjects is that things move really quickly so any such books are out of date before you can blink - and that's with a turnaround cycle of 4 months!

Last year I was approached by a well-known US publisher to write a book on the use of video and audio in social media but I decided to decline the offer, largely because it would definitely be out of date by the time it was in print.
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mark occomore



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PostPosted: Sat Jan 15, 2011 7:09 pm    Post subject: Reply with quote

ColinB wrote:
mark occomore wrote:
I reckon HMV group who own 285 music stores and 212 waterstone's outlets could go under. People are downloading music and ordering on line. Asda and Tesco stores are selling the top 20 albums cheaper than HMV. It will be as big as Woolies if this does happen.


You can't compare Waterstones with Tesco where book retailing is concerned. Tesco sells a limited range of pap aimed at plebs whereas Waterstones stocks a massive range of titles (even mine!). The real problem is that many people don't read books and are content will the usual mass-market dross.

If Waterstones hits the dust I will miss the two stores near me. But I'm in the minority.


They may sell books which you - and a lot of others read, who can't buy them from anywhere else. If they ain't selling the stock and only breaking even then something is got to give. This is the same with HMV, and a lot of other retailers. Same goes with Next! Why pay 25 quid for a pair of jeans when you can go to Primark and buy as good quality at a cheaper price. People are just browsing these stores, instead of buying.
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ColinB
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PostPosted: Sat Jan 15, 2011 9:04 pm    Post subject: Reply with quote

mark occomore wrote:
They may sell books which you - and a lot of others read, who can't buy them from anywhere else.


Wrong. There's nothing on the shelves of either of my two local Waterstones that can't be bought online.

mark occomore wrote:
If they ain't selling the stock and only breaking even then something is got to give.


Indeed. Something is got to give. Never a truer word, etc...

mark occomore wrote:
This is the same with HMV, and a lot of other retailers. Same goes with Next! Why pay 25 quid for a pair of jeans when you can go to Primark and buy as good quality at a cheaper price. People are just browsing these stores, instead of buying.


Trouble is that with Next's product lines it's not as easy to get them via digital download as it is the kind of stuff that HMV offers in their stores.
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