Sunday, Nov 23, 2008
I am taking bets on which chain will go bust!
this is money: Shop insurers signal High St collapses
Suppliers affected by the credit insurance firm's decisions can include product manufacturers, distribution firms, advertising agencies, landlords or even clothes hangar designers. Retailers affected to date include JJB Sports, Currys and Focus.
Posted by mark @ 02:24 PM (496 views) Add Comment
3 Comments
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1. planning4acrash said...
Apparently Woolworths is about to collapse, how it survived thus far has always amazed me!
The fall of all these shops could destroy the monopoly of corporations over our high street, letting smaller traders take back the High Street, returning us to the kind of culture seen in France. This would be WONDERFUL!!! If the established trusts that own all the High Street shops go bust, we could see loads of freeholds for sale, permanently breaking up the destruction of our shopping culture.
About time too.
2. drewster said...
I agree, Woolies has been a dead man walking for some time now.
P4ac I think you may be right about the future shape of the high street. One advantage that big corporations have over smaller shops is access to cash (either through closer relationships with banks, through bond issues, or through the stockmarket). As bank lending unwinds and corrporate bond interest rates soar, the big chains can't get their hands on cash. The smaller and nimbler local shops could thrive against them.
The contrary argument is that big corporations still have a lot of other advantages like shorter, cheaper supply chains, and management skill. As for the freeholders losing their land, that looks unlikely - the Duke of Westminster (the UK's biggest landowner) has had property in the family for centuries. He owns much of central London, for example.
3. bellwether said...
P4AC you truly are a romantic at heart