Jump to content
House Price Crash Forum
interestrateripoff

Chain Retailers 'closing 20 Stores A Day'

Recommended Posts

http://www.guardian.co.uk/business/2011/jul/08/twenty-uk-shops-closing-per-day

The gravity of the high street downturn is spelled out in new research published on Friday which shows UK retail chains have been closing stores this year at a rate of about 20 a day.

The alarming statistic comes as closing down sales at TJ Hughes's 57 department stores get under way. The Liverpool-based chain went into administration last week, putting more than 4,000 jobs at risk.

The administrators, Ernst & Young, said they were holding talks with more than 30 prospective buyers, but analysts suggested the chain, nearly a century old, would be broken up and shops auctioned.

Tom Jack of Ernst & Young said they were encouraged by the level of interest in TJ Hughes, but needed to sell the mountain of unsold stock sitting in its storerooms in case a buyer failed to materialise.

.....

Its analysis, which used figures compiled by the Local Data Company, showed chain retailers were closing about 4,000 stores in the first five months of this year. Specialist clothing, shoes and jewellers were the most vulnerable types of shop. Some of that was cancelled out by the expansion of supermarkets, pawnbrokers and coffee shops, but the national vacancy rate is still 14.5%.

Historically what's the vacancy rate usually been? Although I'm sure high rents and high business rates have had nothing to do with it.

Share this post


Link to post
Share on other sites

We have too many shops anyway? Supply is meeting demand.

Perhaps they be should introducing a shopping benefit, to prop up the retail sector (think housing benefit). If you earn under £50K per year you receive £5K per year in shopping vouchers.

Edited by Money Spinner

Share this post


Link to post
Share on other sites

...Perhaps they be should introducing a shopping benefit, to prop up the retail sector (think housing benefit). If you earn under £50K per year you receive £5K per year in shopping vouchers.

B) Hey, I like it, that's a pretty great idea, yes now who should I vote for? :D

Share this post


Link to post
Share on other sites
<br /> <img src='http://www.housepricecrash.co.uk/forum/public/style_emoticons/default/cool.gif' class='bbc_emoticon' alt='B)' /> Hey, I like it, that's a pretty great idea, yes now who should I vote for? <img src='http://www.housepricecrash.co.uk/forum/public/style_emoticons/default/biggrin.gif' class='bbc_emoticon' alt=':D' /><br />

Did we/esp the poor (facing austerity measures way out of proportion to higher earners) get a choice when our elected guvnors handed Trillions over to Private Bankers to save the wealth of a few Billionaire owners and rich shareholders?

Share this post


Link to post
Share on other sites

I drove to a local semi-high street (about 70 shop units, middle of suburbia) tonight to get a few takeaway curries. Last time I was there - about 6 months ago.

Curry house gone - had to settle for some veeery disappointing and watery Thai stuff (lovely people who run the place, photo portrait of the Thai king on the wall).

Empty unit next door can be rented for "£65 a week". The medium sized supermarket has closed - Tesco express opened 1/2 mile up the road about a year ago, and there's another one 1/2 mile in the opposite direction (reminds me of the Simpsons character who lived in an apartment "above a bowling alley ... beneath another bowling alley").

About 30% of the units are empty, same as two years ago. And there is a big churn in the existing tenancies. We now have a "cookery school" shop. WTF?

At least the philately shop is still there. And a mortgage adviser urging people to take out PPI. A medical doctor specialising in skin treatments, with photos of ordinary people before and after - ugly before, ugly after. And the overpriced dry cleaner - £18 for a 2 piece suit? No thanks.

Share this post


Link to post
Share on other sites

Did we/esp the poor (facing austerity measures way out of proportion to higher earners) get a choice when our elected guvnors handed Trillions over to Private Bankers to save the wealth of a few Billionaire owners and rich shareholders?

and the lizard people ?

Share this post


Link to post
Share on other sites

the solution is SIMPLE.

ban supermarkets from selling anything other than food and cleaning products.

ban the internet too? most large purchases, and many small ones, I now make online, even when I do buy from Currys, Comet, or John Lewis, I'll usually buy online, and the retailers even encourage this with "Web Exclusive" offers. Why pay more in store when you get the same item, from the same retailer, online? you would almost think the big retailers actually want to close their high street shops and move online.

I'm waiting for the first "showroom only" shops to open, where customers can go look at and try products, before ordering online.

Edited by Snagger

Share this post


Link to post
Share on other sites

ban the internet too? most large purchases, and many small ones, I now make online, even when I do buy from Currys, Comet, or John Lewis, I'll usually buy online, and the retailers even encourage this with "Web Exclusive" offers. Why pay more in store when you get the same item, from the same retailer, online? you would almost think the big retailers actually want to close their high street shops and move online.

I'm waiting for the first "showroom only" shops to open, where customers can go look at and try products, before ordering online.

Bought a Beko dish washer for £186 online, with free delivery.. (have my fire insurance). The cheapest in store was at Comet £230. I think big stores are becoming a thing of the past and it will only be food/general shops and stores who will survive the next 20 years. The cost of fuel is making it less appealing to go shopping any distance over 5 miles and out of town stores will really suffer.

Share this post


Link to post
Share on other sites

ban the internet too? most large purchases, and many small ones, I now make online, even when I do buy from Currys, Comet, or John Lewis, I'll usually buy online, and the retailers even encourage this with "Web Exclusive" offers. Why pay more in store when you get the same item, from the same retailer, online?

I was amused when we bought a new microwave a year or so back after the old one died; we found the one we wanted in the store but the price was about 20% more than their online store, so we paid for it online and then collected it from the same store where we'd originally looked at it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.