Two more retail companies look doomed

sky tot said:
Knott Bar has closed ... Gutted , great bar
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Used to live across the road from Knott Bar. Top place!

Used to go in for my tea a lot. The old Spanish chef that used to work there showed me how to make his chicken+chorizo dish once. Top bloke, he was.
 
Unbelievable that the government havent given a priority to overhauling the business rates system , ie abolished it completely, and given high street shops a bit more of a chance of survival in these desparate times. Raise the tax on the online retailers, flat rate on deliveries, as most use offshore tax havens to avoid VAT and corporation tax.
 
dickie davies said:
Arcadia now

What a shit year
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Philip Green is an utter shit of a man.
Arcadia go under the day before this becomes law, making HMRC a Preferred creditor.

www.gov.uk

HMRC as a preferential creditor

This policy paper explains how taxes paid by employees and customers are protected in insolvency procedures commencing after 1 December 2020.
www.gov.uk www.gov.uk
 
denislawsbackheel said:
Philip Green is an utter shit of a man.
Arcadia go under the day before this becomes law, making HMRC a Preferred creditor.

www.gov.uk

HMRC as a preferential creditor

This policy paper explains how taxes paid by employees and customers are protected in insolvency procedures commencing after 1 December 2020.
www.gov.uk www.gov.uk
Click to expand...
I met him once and you are 100% correct.
 
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 (?)
 
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This place just closed near to me in KL, it was a livarpool theme bar. Feel so sorry for the staff but not the person who came up with the theme. Maybe red scouse are not as popular as the press make them out to be??
 
Covid was a catalyst in Arcadia's downfall but I imagine they have been struggling since Boohoo/Misguided/PrettyLittleThing took a lot of their market share. They have probably been unable to compete being strangled with rent and ran too many shops (something online retailers don't need to worry about). On top of that Boohoo etc can run tighter margins given their clothes are made in sweathouses for next to nothing.

Back in the day Topman was the student friendly place to buy your clothes. These days they are margin hungry and their clothes are expensive for an own brand label.
 
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