Wednesday, Oct 28, 2009

Blacks tries to abandon commercial leases

Times: Blacks Leisure seeks to leave shops

"Blacks, which trades as Millets and Blacks Outdoor, wants to jettison 89 closed stores through a company voluntary arrangement (CVA), under which landlords agree to make financial concessions to ensure the surival of a tenant company". = More empty shops in the shopping malls - another green shoot dies...

Posted by alan @ 11:06 PM (1046 views)
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1. drewster said...

I thought we were all having "staycations" this year, camping holidays in the UK? Wasn't that supposed to boost sales at Blacks?

Wednesday, October 28, 2009 11:26PM Report Comment

2. little professor said...

Blacks sells hideously overpriced tat to the little dahlings of the middle class to go on gap years. Glad to see the back of them.

Wednesday, October 28, 2009 11:44PM Report Comment

3. mark wadsworth said...

Firstly, they're not called "Blacks" any more, they're now called "African-Caribbean" (did you not see QT last week?)

Secondly, it's Ricardo's Law Of Rent in action - in the good times, landlords and homeowners profits increase disproportionately, in the bad times, their profits fall disproportionately. The economy may have shrunk by 5% but commercial rents are down 15% on average.

Can't we just let the pendulum swing to the bottom and keep it there via Land Value Tax - that way everybody knows what they're doing?

Thursday, October 29, 2009 12:56AM Report Comment

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