Ifwecouldjust.......
Well-Known Member
H&M Next........debts of billions
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Two more retail companies look doomed
- Thread starter kippaxwarrior
- Start date
bluethrunthru
Well-Known Member
The signs for me is that we are teetering on the brink of another recession brexit or no brexit. I work in manufacturing and having seen the likes of customers Palmer and Harvey and Toys are Us go under then you start to wonder. Then you hear that a couple of the Pound boys (not naming names for obvious reasons)you realise that something is a seriously wrong. I am not predicting Armagedon but a recession is looking on the cards.
Think you will find the narrative is everything is going swimmingly - more people than ever in work ( the definition of "in work" is open to question and that doesn't take into account what is being earned when in work ) - low unemployment ( but on the rise ) - low interest rates ( predicted to rise as soon as next month ) - not sure yet about a full blown recession but I think May will have a flagging economy on her plate along with all the other woes she faces.
Chippy_boy
Well-Known Member
Don't know if this has been raised on the thread, but restaurant chains are not in great shape either.
Jamie Oliver's been losing a shed load of money and had to close loads of his restaurants. Prezzo is in the same boat, closing 94 restaurants. I've not heard any news about it but my local Loch Fyne has more tumbleweeds blowing through than customers, so I'd imagine they'll be next.
Jamie Oliver's been losing a shed load of money and had to close loads of his restaurants. Prezzo is in the same boat, closing 94 restaurants. I've not heard any news about it but my local Loch Fyne has more tumbleweeds blowing through than customers, so I'd imagine they'll be next.
bluethrunthru
Well-Known Member
Don't know if this has been raised on the thread, but restaurant chains are not in great shape either.
Jamie Oliver's been losing a shed load of money and had to close loads of his restaurants. Prezzo is in the same boat, closing 94 restaurants. I've not heard any news about it but my local Loch Fyne has more tumbleweeds blowing through than customers, so I'd imagine they'll be next.
Yeah its been raised mate - put down by some as a failure to adapt to on line competition and their own fault for being greedy knocking out bang average food with poor customer service. These are all suffering because of the lack of customers and you have to ask why are customers not coming and spending money there...........maybe the customers no longer have the spare cash in their stagnant wages but no its down to your local Loch Fyne not adapting it seems - can they not become a Maccy Dee's?
gordondaviesmoustache
Well-Known Member
Aggressive, bully boy litigants. Fuck them. What goes around...What makes you say that? I know in your line of business that you have had dealings with them. I don't want to get you into any trouble here but what is your beef with them?
Chippy_boy
Well-Known Member
I just think there's too many very average or poor restaurants around. And in Jamie's case, too expensive as well.Yeah its been raised mate - put down by some as a failure to adapt to on line competition and their own fault for being greedy knocking out bang average food with poor customer service. These are all suffering because of the lack of customers and you have to ask why are customers not coming and spending money there...........maybe the customers no longer have the spare cash in their stagnant wages but no its down to your local Loch Fyne not adapting it seems - can they not become a Maccy Dee's?
The quality of food at your average Frankie and Benny's is let's face it, one step up from dog food and at maybe £40 or £50 for two when you've added in the drinks and tip, I think people are thinking do I really want to waste 50 notes on this rubbish? And are voting with their feet. Lots are going to go under I think, and perhaps it's an adjustment that's needed, although that's little solace if you lose your job.
The gastro pub sector is thriving, by contrast. So there's a lesson in there somewhere.
WHAT.? When did this happen? (adjusts siren suit)I never quite got over the East India Company going.
dickie davies
Well-Known Member
The country's two largest pound shop groups Poundland and Poundworld are both teetering on the edge
TheRemainsOfTheDave
Well-Known Member
- Joined
- 16 Mar 2017
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They need to put their prices up.The country's two largest pound shop groups Poundland and Poundworld are both teetering on the edge
bluethrunthru
Well-Known Member
I just think there's too many very average or poor restaurants around. And in Jamie's case, too expensive as well.
The quality of food at your average Frankie and Benny's is let's face it, one step up from dog food and at maybe £40 or £50 for two when you've added in the drinks and tip, I think people are thinking do I really want to waste 50 notes on this rubbish? And are voting with their feet. Lots are going to go under I think, and perhaps it's an adjustment that's needed, although that's little solace if you lose your job.
The gastro pub sector is thriving, by contrast. So there's a lesson in there somewhere.
I was listening to an analyst on the radio when Jamies made its announcement he said that "lower end" - pub grub, Wetherspoons etc were doing well as diners "downgraded" for better value so they could still eat out. Fine dining is booming as the wealthy remain wealthy. Its the middle ground thats been hit - firstly and most obviously its a lack of footfall and you can decide for yourself why that would be. Second its reduced footfall coupled with increasing costs and finally she said its a poor business model. Most do well in Gtr London and the South East and have replicated that model in Northern cities so they have several branches in one city and there just isn't the support for that many - probably likely there never was but they have seen a model that works in the prosperous South East and hoped that they could transplant it across the UK