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What Is Christmas Without The Christmas Cheer?

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Unwins USED to be my local 'offi', not a nice Christmas present!

http://today.reuters.co.uk/news/newsarticl...TAIN-UNWINS.xml

There is more to this story than the headlines. Unwins, or their subsequent owners, kicked out most of their tenant managers and replaced them with temporary and mainly casual staff some months ago. They kicked out the managers because the only real asset Unwins had was the premises and the flats, either freehold or leasehold, above the premises.

Many branches have had almost no stock and my two local branches had barely fifty bottles of wine on shelves that held several hundred, and almost no beer and zero tobacco. Yet despite this they installed new credit card machinery which must have cost rather a lot.....not a bright move really.

I had assumed that the new management was going to asset strip its way out of bankruptcy, hence the wholesale booting out of managers who had worked hard for years, thus making them homeless at short notice.

Everything therefore points to an intention to go under...either that or a particularly stupid management decision was made, because any customer could see the business was going to the dogs months ago.

VP

Edited by VacantPossession

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  • 301 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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