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Diy Shops Going Bust

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Went into my high street DIY shop, looking for some curtain rail hooks..

Anyhow I over heard a "regular" asking why something was so cheap:

"We're going bust. This is a closing down sale..."..

2nd shop on the high street to go bust.

But this being a DIY business is more interesting...

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Went into my high street DIY shop, looking for some curtain rail hooks..

Anyhow I over heard a "regular" asking why something was so cheap:

"We're going bust. This is a closing down sale..."..

2nd shop on the high street to go bust.

But this being a DIY business is more interesting...

Walking down Kensington Church Street I counted seven shops closed and empty, while the charity shops were having sales, and moreover were too busy to move in.

KCS is pretty short, and almost all the shops on it are "luxury"; shops like: antiques shops, kitchen showrooms, milliners, art dealers, booksellers et al. It's probably a good indicator of boom and bust. I thought the shops there were all vanity/family businesses that would survive a downturn. Apparently not.

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Was this a big chain DIY place or an independent ??

Seems to me when things get tough, the big boys end up closing shop leaving the small guys to pick up all their trade ....

Independent.

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The trend in dropping sales at DIY and home improvement stores (MFI, B & Q etc)may be a reflection of the fear of spending more money on a assets with a declining value--houses. Perhaps people no longer believe the hype from EAs that house prices are going up. Individuals may seem to act like sheeple but the "crowd" has an intelligence of its own and its starting to sense a crash coming on.

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Walking down Kensington Church Street I counted seven shops closed and empty, while the charity shops were having sales, and moreover were too busy to move in.

KCS is pretty short, and almost all the shops on it are "luxury"; shops like: antiques shops, kitchen showrooms, milliners, art dealers, booksellers et al. It's probably a good indicator of boom and bust. I thought the shops there were all vanity/family businesses that would survive a downturn. Apparently not.

Theres a new Oxfam opening in Lewes, in the middle of lots of expensive, independent nik nak shops, another sign of the times.

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Lets not forget the last housing crash, it was tough but the large DIY chains got through it, I'm sure they will again.

They've been doing very well for the last few years & are probably run a lot better (in terms of P&L)

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Theres a new Oxfam opening in Lewes, in the middle of lots of expensive, independent nik nak shops, another sign of the times.

In some towns in the south I have seen some charity shops closing!!

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No new house, spending on household refurb goes down the pan.

The property snake is eating itself and all the suppliers that go with it, just like the Moneyweek article suggests - bathroom market - 40% down for MFI. BTL won't spend a fraction on refurb that OO's do and most FTB's are penniless once they have bought, same ma be so for those up the chain too.

http://www.thisismoney.co.uk/news/article....03&in_page_id=2

Fears for jobs as MFI moves upmarket

This is Money

19 February 2006

HUNDREDS of jobs were under threat today after troubled MFI was said to be planning the closure of up to 20 stores.

The Sunday Telegraph said the move was part of an overhaul of the business which will also see a dramatic shift up-market with the launch of a new kitchen chain and the sale of Sofa Workshop.

MFI was also said to be considering pulling out of the bathroom market altogether after sales slumped 40% in recent months.

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This is what happened in the last crash. All the DIY sheds reported huge losses and one chain, if I recall it was called 'Do It All' and owned by WH Smith, went bust. The big metal shed it left here in Swansea was empty for many years and is only just being knocked down now to be replaced by a new building.

Most of the other chains trundled along for years - often you would go into them and they were pretty scare of stock - until this current housing boom started. At which point, they flourished again.

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Here's the missing spenders, conicidence? I don't think so. ......

http://business.scotsman.com/finance.cfm?id=253742006

"A record 130,400 buy-to-let mortgages were taken out in the six months to end-December, an increase of 39 per cent on the first six months of the year, according to data from the Council of Mortgage Lenders (CML)."

"In the wider mortgage market, we saw an 18 per cent fall in the number of loans for house purchase last year, so the strong buy-to-let data may partly reflect increased demand for rental property."

"strong buy-to-let data may partly reflect increased demand for rental property"

No, just speculators jumping on the SIPPS bandwagon.

Edited by OnlyMe

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Think the downturn in DIY is mainly due to the fact that people see the value of their house NOT increasing so they think that they THEMSELVES rather than a price increase will pay for the work.

People have been told that a £5k outlaw will increase value of house by £15. No more. Simple really.

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Could be this rumour that you'll pay more council tax based on the value of your house including home improvements and things like a landscaped garden or a good view etc..

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Wasn't it B+Q whose Midlands distribution centre - chock-full of kitchen units and appliances - went up in smoke recently?

Seems so, a warehouse in Staffordshire. I'm not sure what, if any, inference you're trying make ;)

Edited by BuyingBear

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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% +
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      • Even
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      • up 5%



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