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Philip Green's high street empire Arcadia which employs 15,000 'on the brink'


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https://www.mirror.co.uk/news/uk-news/philip-greens-high-street-empire-23014257

Thousands of jobs are feared to be at risk amid claims that Sir Philip Green’s ailing high street empire could be split up and flogged off.

Directors at Arcadia – which employs 15,000 and owns brands including Topman, Miss Selfridge and Burton – are reportedly planning to put the company into a trading administration

The move would let the group continue operating while trying to find buyers for the various brands.

Arcadia said: “It is not true administrators are about to be appointed.

Clearly, the second UK lockdown presents a further challenge for all retailers and we are taking all appropriate steps to protect our employees and other stakeholders.”

But the group – which also owns Dorothy Perkins, Wallis and Evans – was struggling before Covid-19 hit. It stayed afloat last year with a plan involving the closure of 50 stores and axing 1,000 staff

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  All joking aside, I hope the staff are ok, that’s a lot of jobs 

Indeed, must admit I haven't been into a Burton for a while (like 10-15 years, and I am probably the target customer).

 

Don't really know where the idea that Philip green is a retail genius became from.  

 

He seems to have raised enough money to buy some slowly declining brands, then they spent the next 15-20 years declining at the expected rate, his great skill seems to have been on the financial engineering side of things.

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Indeed, must admit I haven't been into a Burton for a while (like 10-15 years, and I am probably the target customer).

 

Don't really know where the idea that Philip green is a retail genius became from.  

 

He seems to have raised enough money to buy some slowly declining brands, then they spent the next 15-20 years declining at the expected rate, his great skill seems to have been on the financial engineering side of things.

A chimp I’d a suit and tie could have done better with a wad of cash to get going 

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But the group – which also owns Dorothy Perkins, Wallis and Evans – was struggling before Covid-19 hit

This is the key point in this case: this business was going to go bust at some point in the period 2020-2025.

COVID has just brought it forward.

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Don't really know where the idea that Philip green is a retail genius became from.  

He seems to have raised enough money to buy some slowly declining brands, then they spent the next 15-20 years declining at the expected rate, his great skill seems to have been on the financial engineering side of things.

 Misplacing staff pension funds and buying yachts?

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I thought the big bucks were from selling off the real estate [stores] and leasing them back. Taking the proceeds as profits paid to non-resident wife to avoid sharing any of the ill gotton gains with the taxpayers who supply everything that makes the whole possible.

I'd say that's closer to a del boy scam than financial engineering.

Leaving the BHS pensioners totally screwed was just the cherry on the cake.

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The quality of the clothes has gone downhill. Without people going into malls and the high street you can see why their craapppy websites aren’t converting anyone. Compare Topshop/Burton websites to Zara, poor design, poor quality photos. 

 

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The quality of the clothes has gone downhill. Without people going into malls and the high street you can see why their craapppy websites aren’t converting anyone. Compare Topshop/Burton websites to Zara, poor design, poor quality photos. 

 

I doubt Green 'gets' the internet, too much of an old school wheeler dealer.  

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I doubt Green 'gets' the internet, too much of an old school wheeler dealer.  

I remember him trolling around his stores in some sort of interview, talking about how he'd feel the nap of the fabric. Totally wouldn't understand that people can't/won't do that anymore and the website needs to sell the product harder than ever. 

Even H&M on the lower end has the right idea. Arcadia sites look like they're stuck in 2012. 

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Indeed, must admit I haven't been into a Burton for a while (like 10-15 years, and I am probably the target customer).

 

Don't really know where the idea that Philip green is a retail genius became from.  

 

He seems to have raised enough money to buy some slowly declining brands, then they spent the next 15-20 years declining at the expected rate, his great skill seems to have been on the financial engineering side of things.

Phillip Green.

 

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I don't feel tempted by any of the things in those shops. 

From the outside they look dated. 

From the inside, the clothes just feel flimsy and not warm. 

I walk in, feel a couple of items, shake my head and walk out. 

 

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New Labour. ;)

Yea ok... I remember thinking his big bet on retail was dumb.  He was hailed as a genius by the press and Labour politicians. 

Now he has to deal with the bust (which Brown laughingly said was abolished!)

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New Labour. ;)

https://en.wikipedia.org/wiki/Philip_Green#Charitable_works_and_other_activities

Two weeks prior to the 2010 general election, Green came out in support of David Cameron, George Osborne and the Conservative Party, stating that Cameron and Osborne "understand what needs to be done. They get it."[23]

In August 2010, Green was asked by Cameron, then recently elected as Prime Minister, to carry out a review of UK government spending and procurement.[24] Green's summary report, Efficiency Review by Sir Philip Green,[25] published in October 2010, alleged significant failings in government procurement processes. The government published the review identifying its main finding as "the Government is failing to leverage both its credit rating and its scale".[26] Cameron welcomed the report, saying "I think it's a good report, it will save a lot of money and it's important we do it."[27]

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I wouldn't be surprised if a few more names go in the next few months. Retail is a tough business to be in right now. I will be genuinely interested to see if there is any actual boxing day or January sales this winter.

My eye is on January when the rents are due but let's see how things play out.

 

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The quality of the clothes has gone downhill. Without people going into malls and the high street you can see why their craapppy websites aren’t converting anyone. Compare Topshop/Burton websites to Zara, poor design, poor quality photos. 

 

To be honest you can get better quality clothes nowadays secondhand....much of the cheaply made clothing in many shops are now made from synthetic fibers, plastic clothing waste is becoming a huge world problem, throw away cheap and nasty clothing made in third world country sweat shops....;)

 

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  • 439 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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