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reddog

What / Who will collapse first in 2019

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Not exactly collapse, but love with the mighty have a reality check.................Don't worry Tesco you already lost my custom years ago.

https://www.dailymail.co.uk/news/article-6636325/Tesco-axe-15-000-jobs-close-meat-fish-delicatessen-counters.html

 

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www.theguardian.com/business/2019/jan/26/small-supermarket-wales-owned-surrey-casino-property. 

Councils being lent money by central government to invest in commercial property. Meanwhile central government pursues hard brexit which may crash property prices by up to 70%. Perfidious Albion. 

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Saw something saying metro bank was in deep trouble.  

Was I mistaken? (Or is it " here  go the banks...again")?

Davos seems to be telling everyone it's now recession too. 

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4 hours ago, Timbuk3 said:

www.theguardian.com/business/2019/jan/26/small-supermarket-wales-owned-surrey-casino-property

Councils being lent money by central government to invest in commercial property. Meanwhile central government pursues hard brexit which may crash property prices by up to 70%. Perfidious Albion. 

Nope.

LAs are borrowing from central gov infrastructure fund, using theithard nosed commercial knowledge that councillors and council offices have built up over tge years, chairing gender diversity meetings.

Im ok ss long as the losses are taken from the council pension fund.

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30 minutes ago, spyguy said:

Nope.

LAs are borrowing from central gov infrastructure fund, using their hard nosed commercial knowledge that councillors and council offices have built up over the years, chairing gender diversity meetings.

I'm ok as long as the losses are taken from the council pension fund.

So it's entirely reasonable that the binmen should have their pensions reduced because of the stupidity of the councillors....

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35 minutes ago, Shrink Proof said:

So it's entirely reasonable that the binmen should have their pensions reduced because of the stupidity of the councillors....

Id restrict to council officers.

Or just have a cap at 10k pension, protecting the low paid who make up 80% of council workers and letting the management hang.

Something has to be done to stop these idiots.

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On 18/01/2019 at 17:49, Council estate capitalist said:

My first thought on seeing it was being sold on behalf of a "major fund" was disappointment in the fund manager for not selling such a worthless investment sooner. People's money is invested in this, Ordinary people either through their pension or through an investment fund.  14/21 of the units are empty, 1/2 is on nil rent, and all the tenants (except the council) are able to exit their leases within the next 2 years.

Seems like their strategy of run it down, then launch a massive media sob story about "famous shopping centre on sale with a reserve price of £1" has worked wonders, returning them £310,000 for what still appears to be a worthless investment!

https://www.bbc.co.uk/news/business-47130516

I for one would not wish to put ANY money into physical retail just at the moment, or maybe ever again.

  Right now, the high street seems to be going either the way of the blacksmith (totally obsolete) or vinyl records (once the mainstay of music, now a successful but minority novelty)

 

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15 hours ago, scottbeard said:

Seems like their strategy of run it down, then launch a massive media sob story about "famous shopping centre on sale with a reserve price of £1" has worked wonders, returning them £310,000 for what still appears to be a worthless investment!

 https://www.bbc.co.uk/news/business-47130516

I for one would not wish to put ANY money into physical retail just at the moment, or maybe ever again.

  Right now, the high street seems to be going either the way of the blacksmith (totally obsolete) or vinyl records (once the mainstay of music, now a successful but minority novelty)

  

I watched this sell in the auction yesterday, First bid was £10 

The only decent income is the car park let to the council on a long lease at £70k, The other rent is either from old leases that expire in 2020/2021 or from individual tenants who are in arrears/can leave anytime. 

The only way I can see of making money from the investment is dodgy asset striping, either hive off the car park into a separate entity or lease the non-producing parts of the centre to a shell company which then goes bust with the rates/utility bills. 

I personally don't think retail is fully dead, People will still go for a kebab after a night out. But I wouldn't invest until it hits rock bottom and the only way is up. 

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26 minutes ago, Council estate capitalist said:

I personally don't think retail is fully dead, People will still go for a kebab after a night out. But I wouldn't invest until it hits rock bottom and the only way is up. 

Actually an interesting one that....old people don't go out of course, and young people these days are gradually moving away from drinking alcohol.  I wonder if in 20 years time kebab shops really will still be viable...?

(But I do take your point that a LITTLE bit of retail is still bound to survive - it's more likely to be little local things like corner shops than big shopping centres though).

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Does anybody buy their clothes online? Myself, and all but one person I know do not buy clothes online. I always go to the high street because I like to try things on first, and if they don't fit or don't look right, I can leave them there instead of messing around returning things through the post and getting refunded. I cannot imagine clothing high street retailers ever to disappear completely. 

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On ‎01‎/‎02‎/‎2019 at 15:53, Orb said:

I love how they blame "Brexit uncertainty" lol. Surely Oddbins would likely have excelled through all the 'uncertainty', as people drink to escape reality. 

Ha, it's definitely Brexit uncertainty that makes me buy from my friendly online vintner, than struggle to park outside Oddbins to negotiate the WKD for a dusty sun raddled Sauvignon

Or go to Tesco. 

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On 06/02/2019 at 10:17, Orb said:

I cannot imagine clothing high street retailers ever to disappear completely. 

In a few years you'll just try the clothes on in VR and order online.

A few years later, you'll try the clothes on in VR and download them to print out on your clothes printer.

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I don't really see how it is even possible to run a loss of £3.4bn. It shouldn't be possible. How can the business even be viable? Is it even a business?

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