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Toys R Us prepares to shut 25 stores

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Retail is having a bad day after the RBS news.

 

Rents will be coming down for the survivors

 

Edited by Sancho Panza

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My local Toys r Us store has the same layout as when I used to visit as a child 30years ago. Even down to the children test riding bikes down the aisles, and the high prices. It has a certain charm but maybe I’m biased! (The future is box filled toys dropped from automated amazon drones ?)

 

Edited by Ash4781

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11 hours ago, Sancho Panza said:

Retail is having a bad day after the RBS news.

 

Rents will be coming down for the survivors

 

Retails been having a bad day since ~2010ish.

Just look at Debenhams. Zombie being drained by the rental leases.

The life companies, pension funds that own most of the UK retail need to pull their finger out and take the hit on the rent reduction. Otherwise, retail RE will become worthless.

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4 minutes ago, spyguy said:

Otherwise, retail RE will become worthless.

You say that like it's a bad thing. 

I'm not coming at this with a religious anti materialistic anti possessions conviction. Looking round modern retail centres though I feel sick sometimes. Horrible sheds full of tat and people shuffling around succumbing to pressure to spend money they haven't got on useless stuff.

My first job after school was in a hardware shop and I sort of quite liked it. Pretty clear not many staff these days happy to be at their work and why would you on shit wages and zero hours. 

Not saying nuke all shops now but a major change wouldn't hurt. 

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11 minutes ago, Funn3r said:

You say that like it's a bad thing. 

I'm not coming at this with a religious anti materialistic anti possessions conviction. Looking round modern retail centres though I feel sick sometimes. Horrible sheds full of tat and people shuffling around succumbing to pressure to spend money they haven't got on useless stuff.

My first job after school was in a hardware shop and I sort of quite liked it. Pretty clear not many staff these days happy to be at their work and why would you on shit wages and zero hours. 

Not saying nuke all shops now but a major change wouldn't hurt. 

Oh yes, once we got beyond the mid 80s, commercial RE has  just eating itself.

In the North, we started getting the refresh of the shopping centres i nthe late 80s/early 90s - just in time for the 90s recession.

Last spin was these even larger centres that theyve rolled out every 100 odd miles - Im thinking Reading Oracle or Soton West Quay.

Big slurping sound for all the towns outside as all the RE goes empty.

Im not 100% of whats the future for towns - Im guessing we are going to see office jobs move back, out of the office parks. Mainly as 1) the traffic conegstion to office parks is fuxxing dreadful - see M4 corridor - and 2) the towns have the public transport infrastructure in place - once you get beyond 40minutes the pool of willing commuters who earn enough to make the commute worthwhile drops off a cliff.

Its certainly not much i n the way of retail beyond a mid sized supermarket and a pub.

 

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On 01/12/2017 at 9:32 PM, Sancho Panza said:

Retail is having a bad day after the RBS news.

 

Rents will be coming down for the survivors

 

Beal's moved out of fairacres retail park, abingdon, spoke to the manager while looking for discounts.  said it was a rent rise and that she hoped no one would rent it for 2months as that will mean they loose the gain they were asking for that year.  It's been at least 4 and its still vacant :lol:

Might have to mossy on round to Toys R us Botley while they still exist.  I wonder if anyone takes photos of these things, hey did you ever see this store? picture a, b, c well back when cash was printed on paper they would sell toys in boxes, blah, blah

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On 02/12/2017 at 9:56 AM, spyguy said:

Oh yes, once we got beyond the mid 80s, commercial RE has  just eating itself.

In the North, we started getting the refresh of the shopping centres i nthe late 80s/early 90s - just in time for the 90s recession.

Last spin was these even larger centres that theyve rolled out every 100 odd miles - Im thinking Reading Oracle or Soton West Quay.

Big slurping sound for all the towns outside as all the RE goes empty.

Im not 100% of whats the future for towns - Im guessing we are going to see office jobs move back, out of the office parks. Mainly as 1) the traffic conegstion to office parks is fuxxing dreadful - see M4 corridor - and 2) the towns have the public transport infrastructure in place - once you get beyond 40minutes the pool of willing commuters who earn enough to make the commute worthwhile drops off a cliff.

Its certainly not much i n the way of retail beyond a mid sized supermarket and a pub.

 

Was down the Melton Road in Leicester today.Barber advertising haircuts for £3.50.I jest ye not.

He probably owns the place as I remember it being a Barber's when I was a kid.Still,cheaper than the 90's.

Quite what that says about the rental yield on that road is the point I'm making.

Leicester city centre is emptying out big time.New Shires development in the centre pretty much wiped out the rest of it.

Leicester Mercury 3/9/17

'The roadworks are finished, the contractors have moved on and traffic is flowing again in Leicester’s Belvoir Street.

But the bustling thoroughfare is anything but back to its best, with one in four shops and bars closed.

In all 11 premises stand empty.

Notably the biggest loss has been Fenwicks which closed at the end of March, with the loss of almost 100 jobs.

Group chairman Mark Fenwick blamed the closure – the store had traded in Leicester since 1962 – on “the challenging trading environment and gradual loss of footfall” as the city’s retail heart shifted towards Highcross shopping centre.

Leicester Mayor Peter Soulsby said he believed Belvoir Street would buck the downturn and benefit from the latest investment, attracting new tenants in the coming months – just as nearby Granby Street has.

However, the loss of Fenwick came along with the closure of businesses such as the Dolce & Verde independent coffee shop, which shut in May after six months of trading, with the owners citing the impact the roadworks.

While Denhams jewelers, which had been trading in Belvoir Street for 66 years, shut its flagship store for good in the spring.

Also gone are Oi Potato, Youngs Cameras – which closed in 2010 – clothes shop Jilien Trevidi, Harveys cafe, Yummy Frozen Yogurt, Austin Reed, a branch of recruitment firm GI Group (which is now in Charles Street), and the Grapevine bar.

Lesley Heggs, who runs Nu Yu hairdressers and barbers at the Grand Hotel end of the road has worked in Belvoir Street for 27 years.

She said: “It’s a mess.

“It was thriving when I first worked along here.

“The buildings in this area are lovely and so much could be done with them to bring in new shops.

“I actually think the street looks awful now – there are big black asphalt patches in the new resin that they have laid and chewing gum stuck to it. They should have put slabs down instead.

“They have spent £1.5 million, but I think they’ve wasted their money.'

 

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Oi potato. Seriously? 

Yummy frozen yogurt....nu yu...gi group... I know from first hand experience that commercial real estate is fuxed but from the names in that article perhaps leicester has a particular problem with chronically unimaginitive owners?

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In my teenage years I used to work at the Toys R Us store in Luton part time. This was going back some time before online shopping was a thing. Come to think of it, this was probably the pinnacle of their business in terms of market share, turnover and profit. Everybody with kids used to be in there this time of the year and we opened until 10pm for the last 6 weeks of the Christmas season. I bloody hated how busy it was all the time.

 

It's on a smallish out of town retail park, and I was back down there last week to pick up a click and collect from Argos next door. The store is now half the size it used to be, obviously as a result of rent. The place was about 60,000 sq ft, now it's jammed in to half that. They don't sell as many bikes, and a lot of the soft toys and outdoor play equipment is gone. I'd not be surprised to see this store go as there's rarely anyone in it, and no real reason to be in there looking at boxes which you can do online. They don't demonstrate their toys or anything, just shift boxes with higher overheads.

 

Interestingly the retail park it's situated on has just embarked on a huge refurbishment and expansion programme. They're adding 2 restaurants and sprucing the place up in general. The unit TRU vacated has been empty for about a year already. Maybe they're trying to attract B&M, home bargains etc. Because they're the only shops I've seen expanding these days.

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My mum told bhs store is still empty in merry Hill shopping center in midlands.

I don't think I been Christmas shopping in shopping center for 5 years it's just to much of pain and takes my valuable time at weekend and still hate paying to park in towns.

The only time I did not mind paying was in Whitchurch.  10p for two hours.

I dontvthink it will be long before w h Smith culls some high Street shops

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4 minutes ago, happyguy said:

hardly big news

on line retails are increasing market share retail outlets are losing theirs 

These "company shut down pun threads" are a major operation, dont be posting non-puns please.

These big companies know all about risk but some of them dont seem to have a cluedo

They cant seem to work out 2+2= connect 4

They seem to be caught in a mouse trap of debt and falling sales

 

 

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1 hour ago, TheCountOfNowhere said:

These "company shut down pun threads" are a major operation, dont be posting non-puns please.

These big companies know all about risk but some of them dont seem to have a cluedo

They cant seem to work out 2+2= connect 4

They seem to be caught in a mouse trap of debt and falling sales

 

 

One minute they think they know all about Risk.

Next minute? 

Ker-plunk.

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57 minutes ago, Thorn said:

One minute they think they know all about Risk.

Next minute? 

Ker-plunk.

:lol: 

I heard the execs are all too greedy, like Hungry hippos

The mind boggles

I heard the french toys r us are also struggling, they've run out of Ludo

 

 

 

Edited by TheCountOfNowhere

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20 minutes ago, Errol said:

Don't see how they can ever hope to compete with Amazon.

All joking aside, last time I went into Toys r us they were extortionately expensive.  Wasnt so bad if you use their vouchers but it's the same old con that seems to fail time after time....fare pricing is preferable to fake discounts.

Smyths seem much better by Comparison but again, it must be hard to compete.

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1 minute ago, Social Justice League said:

Toys are far too expensive these days.

Lego in particular is outrageous.

Lego is almost impossible to destroy, there must be tons of it sitting in boxes in lofts all over the country....;)

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