Two more retail companies look doomed

willipp

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13 May 2011
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Preston
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.
Will leave a huge hole in the Preston high street, really sad to see it go. Prestons high street has struggeled for a long time, but did feel like it was doing ok prior to lockdown. Got a feeling this will really seal its fate.
 

worsleyweb

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29 Sep 2009
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27,910
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Manchester
The thing is with Green, he was never a retail man, he was (and is) an assett stripper, so he get what he wants out of an investment, then f**cks off, - a true Tory hero

A ridiculous comment at the end. The party were elected by a huge majority and by many working class people in the North.
 

gordondaviesmoustache

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19 Oct 2010
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61,869
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Drunk, small claims solicitor
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.
It will be the latter.
 

Corky

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Joined
9 Dec 2005
Messages
16,580
Soon everyone can shop and work at home and will barely interact with people. Sad times.
People who can work from home tend to have the better paid and more secure jobs and have saved money.

It is mainly lower paid jobs that have been lost, and it is quite polarizing.

For some it means they can get a job anywhere in the county, have a zoom interview, go in once to pick up your IT stuff and have a token induction, while leaving and working in much cheaper housing market and saving a fortune. It will never go fully back though as it has been proved it can work, like Gordon above has suggested. 2/3 office days will be the norm from April.
 

BimboBob

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7 Jul 2008
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34,211
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Listen, Can you smell something?
Haven't been in Debenhams or Top Shop for years. Outdated form of shopping these days. Green is a twat though. Pity about the job loses. The high Street is turning into a ghost town with retail parks offering free parking, food etc etc. A shame but its the way forward. People want the convenience of a home delivery these days.
 

Northernstorirs

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Joined
16 Oct 2018
Messages
1,183
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.

I really don't understand the race to the bottom approach of taxing industries who are succeeding. Many online retailers already run tight margins especially when you factor in storage, stock holding and haulage costs without a penalty tax. These margins are passed on to couriers who they themselves make very little mark up. There would be no winners from an additional "online tax".

The problem is related to astronomical rent and the changing behavior of the consumer.

Today's typical consumer wants something right now and for the cheapest possible price. If they don't then they will go somewhere that can offer this. This isn't representative of everybody on here but it represents the majority of consumers in the UK. This is why discounters have thrived in recent years offering low prices and Amazon controls a good chunk of the market with their Prime subscription model.
 

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