Two more retail companies look doomed

kippaxwarrior

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After Toys R Us and Maplin have closed down 2 more retailers are in big trouble.

Grainger Games, the video games retailer have closed 21 of their 67 stores including all shops in Manchester apart from the store in Cheetham Hill. Also their website has been taken down.

Also Conviviality who own Bargain Booze and The Wine Rack have failed to to raise funds for a emergency loan after they owe the tax man £30M. Now Conviviality also supply J D Wetherspoons with beer so its possible their prices may increase.

Seems to me more and more retailers just cannot compete with the internet or cheap supermarkets and I think more retailers will go before the end of the year. The next big one could be potentially be Mothercare who are rumoured to be in trouble
 

bluethrunthru

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After Toys R Us and Maplin have closed down 2 more retailers are in big trouble.

Grainger Games, the video games retailer have closed 21 of their 67 stores including all shops in Manchester apart from the store in Cheetham Hill. Also their website has been taken down.

Also Conviviality who own Bargain Booze and The Wine Rack have failed to to raise funds for a emergency loan after they owe the tax man £30M. Now Conviviality also supply J D Wetherspoons with beer so its possible their prices may increase.

Seems to me more and more retailers just cannot compete with the internet or cheap supermarkets and I think more retailers will go before the end of the year. The next big one could be potentially be Mothercare who are rumoured to be in trouble

You are so far off topic - don't you know that the economy is doing just fine..................???
 

Tragic meat van guy

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Its my deluded hope that a fuck load more of these type of companies go under, leaving the high street deserted and eventually forcing building owners to lower their rents allowing the small independants back into the game , maybe some sort of tax breaks for smaller firms from whatever set of wankers are in power at the time.

Be nice to have a decent high street again instead of all these soulless corporate shit holes.

Never gonna happen though
 
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BimboBob

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Video games retailer? Doomed. Most games these days are downloaded. Why pay rates, rents, staff costs etc etc. It's not surprising. And nowt to do with the economy.

Bargain Booze as well? Oh well.
 

i kne albert davy

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Changing face of Britain just as much being spent just different spending patterns, as in years gone by adapt or die I don't think a video games retailer and bargain booze going will have quite the impact of ICI or GEC.
 

bluethrunthru

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Changing face of Britain just as much being spent just different spending patterns, as in years gone by adapt or die I don't think a video games retailer and bargain booze going will have quite the impact of ICI or GEC.


I keep seeing people shrugging and saying adapt or die but these collapses point to a deeper economic malaise in the UK with companies operating on tiny margins, affected by high business rates from cash strapped councils, recent changes in employment laws like the workplace pension legislation which is good news for the employee but imposes an extra burden on businesses that can't take it. Add in stagnant wages growth - if there is only the same amount of money coming into a household over a given period which has been subject to inflation that means that inevitably there is less cash available to spend on retail.

The biggest issue is the loss of jobs - most of these will be low paid low skilled jobs the type that Brexit is supposed to protect from being swamped by migrant workers who depress wages. Fat lot of good that will be if those jobs just go.
 

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