Friday, January 28, 2011

And the closures start

Retail sector pain in the city as HMV and GIVe close stores

Fashion retailer GIVe shut the doors of its Liverpool One outlet earlier this week, while music chain HMV is closing its Bold Street store on Sunday as part of the first wave of a programme to shut 40 shops this year.

Posted by mark @ 07:50 PM (2392 views)
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10 thoughts on “And the closures start

  • sibley's b'stard child says:

    ‘Most of its [HMV] store closures are expected to come in places where HMV has more than one outlet, and the closure of Bold Street – which was opened after its Church Street store was demolished as part of the Liverpool One development – was not a surprise.’

    Well, who would have thought that market saturation might not be a great business model after all.

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  • 2. sibley’s b’stard child said…Well, who would have thought that market saturation might not be a great business model after all.

    ~ Agreed, The Severn Trent business model isn’t for everyone.

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  • Less money circulating the system
    Expensive to borrow (Despite low BOE interest rates)
    High inflation on necessities – Home, heating, food, fuel, etc…
    More expensive to travel, coupled with laziness and convenience, resulting in an increasing internet shopper environment
    Little or no increase in salaries (Unless your a crooked bwanker)
    Job losses and higher unemployment

    IS IT ANY WONDER THE LIKES OF GIVE AND HMV ARE SUFFERING FROM LOW SALES? Expect a lot more of the same over the next 2 yrs.

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  • markj69 str05 – spot on summary, you could also think of the HMV product offerings as commodities ie CD/DVD etc.. why pay over the odds when you can buy the same commodity (Adele latest release for example) cheaper elsewhere/online not to mention that you can buy as a download. They appear to have ignored many of the risks to their business.

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  • With so little money circulating the system, yet this country still doesn’t want to lend to generate productivity and still wants to put money into brick and mortar. What is at the end of the road? A nation of home owning jobless benefit claimants? Well, that’s what I call the Final Solution.

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  • Profiteering by the banking sector at the expense of the economy and the general public.

    I can’t help but think that in previous years the finance and banking sectors used to believe they relied on a strong economy in order to make profits. But now they have the country over a barrel – ‘TBTF’ – And have obvious influence in high places, why try to earn money, when it can be easily conned from the general public purse, WITH the agreement of the government.

    Low BOE interest rates, yet the cost to borrow money is disproportionately high. Thus, enabling the banks to re-coup funds. Unfortunately, I can’t see how this is going to correct itself, unless banks are forced to compete for their profits. IE, become dependent on business and gen’ public for their profits again. Rather that the easy pickings from BOE.

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  • They were silly opening that store anyway as there is a large HMV half a mile away in the L1 complex!

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  • ….but then again, JJB is expanding their evening wear section

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  • I was in our local main town yesterday, the town of Shrewsbury. It is noticeable, even more so now that the short term lets have gone after Christmas, how many vacant shops and outlets there are around the town and in the main shopping centres. There is a high number of Charity shops around the town, without these the situation of empty shops would be more obvious. Central Shrewsbury is fast becoming a ghost town, whether this is due to high rents, low visitor levels (we face resticted car park space, congested in-town roads, and high carparking costs), or the economy in general – I do not know….The carparks were full yesterday, the high street was busy……they must have been visiting and shopping somewhere (maybe in one of our several ‘Costalot’ coffee houses?).

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