Who's next to go bust? The CTF deadpool...

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Who's next to go bust? The CTF deadpool...

Post by swp @ Sat Dec 27, 2008 7:04 pm

So, Woolies is on it's way, Zavvi not far behind. Officers Club and Wittards had close escapes. MFI gone. The Pier - am still in shock about that one.

Who next? Is it really sick to have a retailer deadpool?

My money is on W H Smiths (could go either way now Woolies are out of the picture but they haven't exactly moved with the times either) and Past Times.
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Re: Who next?

Post by Hooli @ Sat Dec 27, 2008 7:08 pm

I've never heard of the Pier, who/what where they?
havent currys/dixons/whatever they are called this week group plc been in trouble for years?
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Re: Who next?

Post by Killer @ Sat Dec 27, 2008 7:11 pm

Hooli wrote:I've never heard of the Pier, who/what where they?


Furniture and tat
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Re: Who next?

Post by Hooli @ Sat Dec 27, 2008 7:12 pm

no loss then :)
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Re: Who next?

Post by swp @ Sat Dec 27, 2008 7:15 pm

Killer wrote:
Hooli wrote:I've never heard of the Pier, who/what where they?


Furniture and tat



But they did some lovely candle stuff. Faux ethnic stuff and some really nice garden furniture and outdoor catering gear.
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Re: Who next?

Post by Grass Widow @ Sat Dec 27, 2008 7:19 pm

I didn't know The Pier had gone I used to like going in for a nosey, must admit I never bought anything it was either too expensive for what it was, or I didn't need it.

I reckon it could be PC World next.
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Re: Who next?

Post by swp @ Sat Dec 27, 2008 7:25 pm

Grass Widow wrote:I didn't know The Pier had gone I used to like going in for a nosey, must admit I never bought anything it was either too expensive for what it was, or I didn't need it.

I reckon it could be PC World next.



I only found out this evening. Their website confirms it.
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Re: Who next?

Post by OEJ @ Sat Dec 27, 2008 7:33 pm

swp wrote:Who next?


Image

Next.
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Re: Who next?

Post by Zwilnik2 @ Sat Dec 27, 2008 7:35 pm

PC World's part of the Curry's group, so I'm betting they'll both be gone or deliberately bankrupted so they can be sold off for a quid to one of their shareholders with no debts by summer.

Iceland have the problem that they've got no serious financial backing now (being Icelandic owned) and seen as chavvy in a time when people will be trying to save money but not appear to be chavs. All it'll take is one dodgy quarter and they'll be under.

At least one of the sofa retailers will go under and use the bankruptcy clearing debts trick too, but they do that pretty much on an annual basis anyway.

Mostly it'll be companies that don't have enough cash in hand or credit to survive a fairly big loss in sales and increased costs.
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Re: Who next?

Post by swp @ Sat Dec 27, 2008 7:40 pm

Zwilnik2 wrote:At least one of the sofa retailers will go under and use the bankruptcy clearing debts trick too, but they do that pretty much on an annual basis anyway.




So as a consumer, how do you stand if you've bought a sofa on credit with the usual pay nothing for a year deal? You have the goods but haven't started paying yet. If they go bust will you be chased for the money? Just curious like.
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Re: Who next?

Post by OEJ @ Sat Dec 27, 2008 7:45 pm

swp wrote:So as a consumer, how do you stand if you've bought a sofa on credit with the usual pay nothing for a year deal? You have the goods but haven't started paying yet. If they go bust will you be chased for the money? Just curious like.


Unfortunately, the credit is invariably out-sourced to a third party, with which you sign a contract at point of sale
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Re: Who next?

Post by FiF @ Sat Dec 27, 2008 7:48 pm

swp wrote: The Pier - am still in shock about that one.

Who next? Is it really sick to have a retailer deadpool?

My money is on W H Smiths (could go either way now Woolies are out of the picture but they haven't exactly moved with the times either) and Past Times.


Sorry to bring you the bad news about The Pier dearest.

Re: retailer deadpool, no, reckon it's a good idea if a bit ghoulish.

Past Times is a good shout, though reckon WHS have a few other irons in fire, maybe their annual accounts might say otherwise.

I'll put my guess on Habitat.
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Re: Who next?

Post by swp @ Sat Dec 27, 2008 7:53 pm

FiF wrote:Sorry to bring you the bad news about The Pier dearest.

Re: retailer deadpool, no, reckon it's a good idea if a bit ghoulish.

Past Times is a good shout, though reckon WHS have a few other irons in fire, maybe their annual accounts might say otherwise.

I'll put my guess on Habitat.


Not your fault, dearest. :hehe:

Good call on Habitat, they must have taken a hammering by Ikea anyway.

Clinton cards?
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Re: Who next?

Post by FiF @ Sat Dec 27, 2008 8:01 pm

one-eyed Jack wrote:
swp wrote:So as a consumer, how do you stand if you've bought a sofa on credit with the usual pay nothing for a year deal? You have the goods but haven't started paying yet. If they go bust will you be chased for the money? Just curious like.

Unfortunately, the credit is invariably out-sourced to a third party, with which you sign a contract at point of sale

We once considered buying something from DFS, can't recall now what but we must have been under the influence of mind altering drugs at the time. I digress.

They had the usual x years interest free, pay nothing for a year. Being a Tyke one asked what the cash price was. Does not compute, computer says no, never had that question before etc. Actually refused a cash sale, even said they would have to charge more ffs!

Obviously it's due to some kick back from the finance house, but seems very odd way of doing business to me.
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Re: Who next?

Post by Gone @ Sat Dec 27, 2008 8:06 pm

This post intentionally left blank.
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Re: Who next?

Post by deev @ Sat Dec 27, 2008 8:06 pm

swp wrote:So, Woolies is on it's way, Zavvi not far behind. Officers Club and Wittards had close escapes. MFI gone. The Pier - am still in shock about that one.

Who next? Is it really sick to have a retailer deadpool?

My money is on W H Smiths (could go either way now Woolies are out of the picture but they haven't exactly moved with the times either) and Past Times.

wh smith arent going anywhere anytime soon.
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Re: Who next?

Post by Mavis Biscuits @ Sun Dec 28, 2008 2:04 pm

Looks like the kiddy clothes chain Adams is next...http://news.bbc.co.uk/1/hi/business/7801952.stm
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Re: Who next?

Post by AlexKP @ Sun Dec 28, 2008 2:14 pm

I think PC World / Currys is pretty safe - they may contract but there isn't much competition for them out there (only really Comet to some extent seeing as Tempo shut down years ago..)

HMV and GAME must be worried - most media purchasing is switching to on-line now. Play.com et al are almost unassailable.

Chains of bed shops must be vulnerable, along with those strange ones that just sell bedding.
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Re: Who next?

Post by Gizmo @ Sun Dec 28, 2008 2:19 pm

Note: Habitat isn't taking a battering by Ikea. Habitat is owned by Ikea. Partially anyway.

My money's still on Jessops, although I think we should do a top 5 deathpool.
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Re: Who next?

Post by AlexKP @ Sun Dec 28, 2008 2:38 pm

Gizmo wrote:Note: Habitat isn't taking a battering by Ikea. Habitat is owned by Ikea. Partially anyway.

My money's still on Jessops, although I think we should do a top 5 deathpool.


Yep - Jessops could be shaky - although they don't have much direct competition other than home printers.
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Re: Who next?

Post by Cloggy @ Sun Dec 28, 2008 2:49 pm

I hope 'Dreams' goes, they have tat beds.
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Re: Who next?

Post by OEJ @ Sun Dec 28, 2008 2:51 pm

AlexKP wrote:
Gizmo wrote:Note: Habitat isn't taking a battering by Ikea. Habitat is owned by Ikea. Partially anyway.

My money's still on Jessops, although I think we should do a top 5 deathpool.


Yep - Jessops could be shaky


Better get a tripod

:thumbup:
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Re: Who next?

Post by Zwilnik2 @ Sun Dec 28, 2008 2:57 pm

AlexKP wrote:I think PC World / Currys is pretty safe - they may contract but there isn't much competition for them out there (only really Comet to some extent seeing as Tempo shut down years ago..)

HMV and GAME must be worried - most media purchasing is switching to on-line now. Play.com et al are almost unassailable.

Chains of bed shops must be vulnerable, along with those strange ones that just sell bedding.


Game's got a major income from 2nd hand sales. They'll do even better during a recession as people sell their games for whatever pittance they can get and buy other pre-used games.

HMV could be potentially wonky as they've got large shops to support, haven't got a good internet sales business and are reliant on sales of new luxury items that are cheaper online.

PC World/Currys are the classic targets of Amazon, the Apple Store, Scan and all the other online shops that are undercutting them on price and aren't staffed by insultingly stupid people. They don't have a good enough online presence to make up the sales that way and they've been losing money hand over fist.
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Re: Who next?

Post by CJ+ @ Sun Dec 28, 2008 3:16 pm

PC World to go titsup.com? I can only dream.

After the insultingly appalling way they treated my grandfather (85 year old bloke turns up wanting to look at laptops. If he sees what he likes, he's going to plunk down eight hundred nicker there and then. The cretins in purple shirts couldn't even be arsed to speak to him or us, despite being told that he's very old, wants to buy today, and is a bit frail. But no, the CIPS would rather sell 30 quid shitty printers to Swiss Family Chav) I'd cheerfully see them go out of business.
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Re: Who next?

Post by Marki @ Sun Dec 28, 2008 4:06 pm

From what i could see Woolies was full of shite , and the one time i was unfortunate enought to go in to Officers club i was amazed at how shit looking the Shite they were selling was

So its no suprise they went tits up
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Re: Who next?

Post by Towie @ Sun Dec 28, 2008 4:30 pm

Superdrug is my bet. And if anyone says "Savers", that`s part of their empire.

Superdrug can`t decide what it wants to be. Some stores are really nice, far superior to Boots, but they still insist on filling it with tat.
It`s just spent a fortune on a new distribution centres in Bristol (Avonmouth) and Dunstable.
New fleet of trucks and trailers two years ago on lease deals.
Plus they are not a PLC - owned by chinese/HK businessman IIRC.
Plus their losses through theft are apalling. Every kid learns to shoplift there, and it will now become the first "shoplifting centre of excellence" now that woolies has gone.
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Re: Who next?

Post by AlexKP @ Sun Dec 28, 2008 7:25 pm

CommanderJameson wrote:PC World to go titsup.com? I can only dream.

After the insultingly appalling way they treated my grandfather (85 year old bloke turns up wanting to look at laptops. If he sees what he likes, he's going to plunk down eight hundred nicker there and then. The cretins in purple shirts couldn't even be arsed to speak to him or us, despite being told that he's very old, wants to buy today, and is a bit frail. But no, the CIPS would rather sell 30 quid shitty printers to Swiss Family Chav) I'd cheerfully see them go out of business.


...and yet I use PC World Business as one of my business accounts and spend about ££70k per annum with them. Their business staff are excellent, go the extra mile always, and deliver superb value.

But I accept their "public" operation doesn't have a great rep.
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Re: Who next?

Post by FiF @ Sun Dec 28, 2008 7:45 pm

So at the risk of stating the obvious it seems as if we are talking about High St retailers who are predominantly selling something considered as an "extra" or luxury item, made worse if they have great threat from internet sales.

eg Travel agents? Phone retailers? Carphone Whorehouse?

Adams doesn't fit that model, iirc they have been in the mire for ages.

Re Habitat being owned by IKEA. That may simply be a strategy as they are in a completely different market, not many ££600 coffee tables in the Swedish warehouse. If I had shops selling that sort of stuff in prime High St locations I'd be looking to bail. Problem soon that there will be so many prime High St locations up for grabs shortly.
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Re: Who next?

Post by Zwilnik2 @ Sun Dec 28, 2008 8:09 pm

FiF wrote:So at the risk of stating the obvious it seems as if we are talking about High St retailers who are predominantly selling something considered as an "extra" or luxury item, made worse if they have great threat from internet sales.

eg Travel agents? Phone retailers? Carphone Whorehouse?


primarily the ones which require a lot of credit or are already losing money or being run badly. The less good travel agents and the bad phone retailers will tend to get bought up by the bigger fish, but we'll probably lose a few. Carphone Whorehouse is relatively safe because it's got the commission from all the contracts it sells but I'm betting they'll ditch their Talk Talk service at some point.
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Re: Who next?

Post by swp @ Sun Dec 28, 2008 8:35 pm

I was thinking about travel agents too. In our town there is an independant. They do all the normal package stuff, but they have been clever and also specialise in breaks for the old dears - in the UK and further afield. There is no shortage of rich old bastards around here and being country folk I think it's pretty safe to assume that the majority of the old dears don't book via the internets. So I think they're pretty safe.

Walking through Bournemouth today I noticed several empty units but also a big sign on Hawkins Bazaar's window saying "we're saying goodbye". They do a lot of online business and I think that particular shop has only been there a couple of years. Are we going to end up with very few proper shops and have to do the bulk of our shopping online?
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