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Tj Hughes Set To Join List Of Failed Retailers

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http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8602140/TJ-Hughes-set-to-join-list-of-failed-retailers.html

Department store chain TJ Hughes is expected today to add to the roster of failed retailers, after filing an intention to appoint an administrator yesterday.

Ernst & Young is believed to have been lined up, though the firm declined to comment. TJ Hughes, which has 57 stores, employs 4,000 staff.

The shopless recovery gathers pace.

As noted last week we where likely to see a spike in shops going into administration as rents became due.

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They only very recently opened a store in a town where I know people and they were overjoyed to get a job (there) at last.

Sad news indeed, was one of my favourite shops, spent quite a lot in various branches in my time. I knew this would happen if I went abroad!

Website down "for essential maintenance and an improved shopping experience"...

maintenance.jpg

Edited by inflating

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The shopless recovery gathers pace.

As noted last week we where likely to see a spike in shops going into administration as rents became due.

Shops, we don't need em, jobs, we don't need em, people spending, not needed. The recovery is locked in, just like a tinned sardine...

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They'll leave some sizeable holes in the high street.

The Macclesfield store used to be a Sainsbury's, and TJ Hughes opened up the first foor above it too.

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Surely this is going to lead to an over supply of high street shops available and destroy rental values.

It should lead to a totally necessary cost rebalancing - but I bet the banksters and landlords try to bluff it out and carry on screing the highest rent achieveable from the remaining stores - until they too suffer the same demise.

What is happening to the retail sector is just an extension of what has happened to manufacturing, the gerneral population and the finance sector to come which has just pinned its future on bidding up its own cost base.

Edited by OnlyMe

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Can anything beat the big box grocer/retailers. I've been arguing you can't really beat their model, your only chance is to get as broad an array of goods for sale as you can, and try to take them head on.

But then we dont' need 10 different big box grocer/retailers.. 4 is more than enough.

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Anyone want to make any predictions re PC World, Dixons or Curry's?

When one of these falls over it will hammer home the message to the public that we really are screwed!!

And what if Marks and Sparks were to fail? I can recall when I worked in retail distribution in the South that their Marble Arch store went through a multi Million pound refit to the warehouse and delivery areas (so they could get more trucks on the unloading bays) as the stock was going out the front door quicker than they could get it in the back.

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Surely this is going to lead to an over supply of high street shops available and destroy rental values.

There is already an over supply. Our high street has a number of shops closed in the last 12 months and it is doing fairly well. Even in central London on Cheapside, there are some empty shops despite it been touted as the new shopping hot spot. Recently visited Basildon, and in parts it looked like it had closed down for good.

Very tempted to buy a shop and turn it into a home.

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Anyone want to make any predictions re PC World, Dixons or Curry's?

When one of these falls over it will hammer home the message to the public that we really are screwed!!

And what if Marks and Sparks were to fail? I can recall when I worked in retail distribution in the South that their Marble Arch store went through a multi Million pound refit to the warehouse and delivery areas (so they could get more trucks on the unloading bays) as the stock was going out the front door quicker than they could get it in the back.

http://corporate.marksandspencer.com/investors/debt_investor/outstanding_debt

Looks like 2013 for M&S might be interesting looking at the debt maturity chart?

http://corporate.marksandspencer.com/investors/fin_highlights

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Anyone want to make any predictions re PC World, Dixons or Curry's?

When one of these falls over it will hammer home the message to the public that we really are screwed!!

And what if Marks and Sparks were to fail? I can recall when I worked in retail distribution in the South that their Marble Arch store went through a multi Million pound refit to the warehouse and delivery areas (so they could get more trucks on the unloading bays) as the stock was going out the front door quicker than they could get it in the back.

PC World/Currys/Dixons are on the way out. They are closing another store in our locality, and soon will be consolidated into 2 or 3 but doing far less business. They are discounting to amazon levels in the stores that remain. Right now they are selling wiis sub-£100. They are more or less existing on selling iPads. I don't think anyone will be surprised when they go.

M&S won't fail. They can survive on food alone. They may move away from clothing, but they have diversified a lot in recent years. I suspect they will stop selling hifis soon.

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PC World/Currys/Dixons are on the way out. They are closing another store in our locality, and soon will be consolidated into 2 or 3 but doing far less business. They are discounting to amazon levels in the stores that remain. Right now they are selling wiis sub-£100. They are more or less existing on selling iPads. I don't think anyone will be surprised when they go.

M&S won't fail. They can survive on food alone. They may move away from clothing, but they have diversified a lot in recent years. I suspect they will stop selling hifis soon.

Whenever I pop in to the M&S here (I'm abroad) they don't seem that busy. The food area (not very big, corner shop size) hardly ever has a customer. Also when I went there last week for chocolate digestives they had none - a hanging offence in my book if ever there was one

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It would be interesting to dig out that old thread from a couple or three years ago listing out the retailers we thought were skating on thin ice... Anybody any good with the HPC search tool?

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It would be interesting to dig out that old thread from a couple or three years ago listing out the retailers we thought were skating on thin ice... Anybody any good with the HPC search tool?

...Answering my own question... (but using google search, as HPC search is pants):

http://www.housepricecrash.co.uk/forum/index.php?showtopic=90172

Quite prophetic, I'd say - just a year or so early.

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...Answering my own question... (but using google search, as HPC search is pants):

http://www.housepricecrash.co.uk/forum/index.php?showtopic=90172

Quite prophetic, I'd say - just a year or so early.

Think this was the big thread at the time (cross linked from your find)......

Ten Retail Busts [not Including Woolworths] That Will Come Before December 24

http://www.housepricecrash.co.uk/forum/index.php?showtopic=63179&st=0

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Small anecdote possibly related...Went to Bookers yesterday bought goods to the value of £31.72 went to pay by card and the machine declined the transaction (I knew there were plenty of funds in the account) tried another 2 times with my Company card entering the PIN each time and a third with my personal card, all came back declined.

At this point I said I would go and get cash. Went back about 30 minutes later and thought I would try the card again, this time it worked.

Checking my bank statement (online) this morning and it has debited 4 transactions at the relevant amount and my personal account once.

Bookers seem uninterested and want to see a copy of my bank statement.

So what is the story? Are Bookers trying to rip people off or is in fact chip and pin really not as foolproof as the Banks insist?

The funds have definitely been debited and of course the PIN number was used each time. On this basis the bank will be uninterested. Looks like I will be relying on Bookers goodwill to refund the £126 odd they have over charged me!!

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Anyone want to make any predictions re PC World, Dixons or Curry's?

When one of these falls over it will hammer home the message to the public that we really are screwed!!

They are all the same company. They are increasingly moving towards combined Currys PC World stores, and Dixons is only found in the duty free areas of airports these days.

My guess is that Comet and Best Buy are likely to go before Dixons Group does.

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Small anecdote possibly related...Went to Bookers yesterday bought goods to the value of £31.72 went to pay by card and the machine declined the transaction (I knew there were plenty of funds in the account) tried another 2 times with my Company card entering the PIN each time and a third with my personal card, all came back declined.

At this point I said I would go and get cash. Went back about 30 minutes later and thought I would try the card again, this time it worked.

Checking my bank statement (online) this morning and it has debited 4 transactions at the relevant amount and my personal account once.

Bookers seem uninterested and want to see a copy of my bank statement.

So what is the story? Are Bookers trying to rip people off or is in fact chip and pin really not as foolproof as the Banks insist?

The funds have definitely been debited and of course the PIN number was used each time. On this basis the bank will be uninterested. Looks like I will be relying on Bookers goodwill to refund the £126 odd they have over charged me!!

You will get your money back - either this is direct fraud or a real problem with card services transaction processing, no way you won't be covered somewhere. Did you see the delined transaction on the screen yourself?

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You will get your money back - either this is direct fraud or a real problem with card services transaction processing, no way you won't be covered somewhere. Did you see the delined transaction on the screen yourself?

Indeed I did and the machine took ages to connect each time. After some more thought the funds are debited my account(s) but may well reverse tonight as the Bookers lady stated her card machine receipts reconciled against what the tills said. I suspect they don't run the reconciliation feature on their card machines till the end of the day and subsequently transactions can still be reversed up till that time.

I have a large overdraft facility on my pers account and debit card purchases don't appear for two to three days on the statement anyway although I can see the funds have been 'earmarked' on the account total.

Food businesses can always sit out a recession as people will always need to eat whatever the financial climate.

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Food businesses can always sit out a recession as people will always need to eat whatever the financial climate.

You'd have thought so but 80% of what goes into peoples trollies are discessionary items (crisps and coke etc.) I just wonder how difficult it would be for people to cut their food bills by say 50%.

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Food businesses can always sit out a recession as people will always need to eat whatever the financial climate.

There is definitely still some competition in the food wholesale market as we get offers from Bookers about once every three or four months offering a large discount to return to them.

What they haven't realised is that we now only use the account to purchase penny chews for my wife's brownie pack and only need to do that once every three or four months.

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They are all the same company. They are increasingly moving towards combined Currys PC World stores, and Dixons is only found in the duty free areas of airports these days.

My guess is that Comet and Best Buy are likely to go before Dixons Group does.

Unfortunately I agree, the issue is that DSG only make money on the extended warranties not from actually selling stuff hence under cut the others just enough...

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Food businesses can always sit out a recession as people will always need to eat whatever the financial climate.

They don't need to eat (or drink) as much though, which is more to the point.

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They don't need to eat (or drink) as much though, which is more to the point.

On that point which of the biggest High Street retailers actually own their own land/sites. I know Safeway did 90%+ of it which is why it was such an attraction for Morrison's to buy them out.

Tesco and Sainsbury amongst quite a few other have over the last 10 -15 years been on an aggressive expansion program no doubt funded by the banks.

Maybe some of the smaller players will get squeezed quite hard when the time comes. Would love it for Tesco to suffer but I doubt it will. But are they still relying on year on year growth as I do believe it fell or was static this year!

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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