Two more retail companies look doomed

RadcliffeRick said:
It would be interesting to see how many businesses have gone under his "leadership", BHS was his fuck up even though he sold it for 1 pound (?)
Click to expand...
Yet he himself has a fortune as a result of his many failures. Nine hundred bloody million plus whatever is held in his wife's name.
 
First u had retail parks, supermarkets like Sainsbury's/tescos/asda killing off high street local businesses. And now its all gone online. Esp with covid. Commercial properties are less valuable than before.
 
MaineDAWG2008 said:
First u had retail parks, supermarkets like Sainsbury's/tescos/asda killing off high street local businesses. And now its all gone online. Esp with covid. Commercial properties are less valuable than before.
Click to expand...
The rents for commercial properties prop up long term investments such as pension funds so this will have a massive long term effect.
Lots of leases for commercial properties have 'upward only' rent review provision so rises will see the pressure tenants.
The other thing about commercial properties is the effect of home working which has shown to be effective in many situations, so the office market, as well as retail, will have ashake up.
 
Feel sorry for the staff at Topshop, Burton etc. Must be awful to lose your job so close to Christmas, even if it’s been on the card for a while. Won’t shed any tears for Philip Green though. A truly odious man.
 
Mike Cledford said:
Yet he himself has a fortune as a result of his many failures. Nine hundred bloody million plus whatever is held in his wife's name.
Click to expand...


I`d take all the money off him and put it in the pension funds he plundered and pay the full redundancy of the workers he`s stiffed.
 
Last edited:
stevemacca said:
The rents for commercial properties prop up long term investments such as pension funds so this will have a massive long term effect.
Lots of leases for commercial properties have 'upward only' rent review provision so rises will see the pressure tenants.
The other thing about commercial properties is the effect of home working which has shown to be effective in many situations, so the office market, as well as retail, will have ashake up.
Click to expand...
I've been working from home since march and at first I found it tough as not seeing my team and not been in the office but now I'm feeling the exact opposite.

I have everything I need to work from home, we all have cameras on our pcs and laptops and use zoom. I'd rather work from home now rather than work in the office
 
kippaxwarrior said:
I've been working from home since march and at first I found it tough as not seeing my team and not been in the office but now I'm feeling the exact opposite.

I have everything I need to work from home, we all have cameras on our pcs and laptops and use zoom. I'd rather work from home now rather than work in the office
Click to expand...

It will certainly be interesting. Companies have taken differing approaches. Like yourself I have been WFH and find it a lot more productive. Some instances could have done with being in the office but overall working remotely has been fine. I have wondered once a vaccine is distributed if companies will adopt WFH to save on commercial rent or if it will be bit of a hybrid approach where you might do a couple of days hotdesking a week in the office.

Some companies with trust issues have been pretty strict with workers returning to the office.
 
kippaxwarrior said:
Looks like Debenhams is finally going under as the last consortium left to by them (JD Sports) have pulled out
Click to expand...
Seems to have been confirmed. Covid has perhaps exacerbated their issues, but they were really struggling prior to this.

Awful news for their estimated 12,000 staff, and the indirect effect it has on other businesses too.

I work in Preston, and Debenhams is pretty much the focal point of its shopping centre. Topshop features prominently on the high street too. Not sure how easily such large shops will be replaced, and if they're not replaced, fewer shoppers will go into town which affects all the other shops too.

Now would be a good time to introduce a tax on online shopping to offset business rate reductions. Something needs to be done.
 
Forget COVID, WFH etc, the property market and the cost of commercial rent is crippling retailers.

Until that gets addressed, expect many more job losses.
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top
✖
  AdBlock Detected
Bluemoon relies on advertising to pay our hosting fees. Please support the site by disabling your ad blocking software to help keep the forum sustainable. Thanks.