^I have to say,t does make painful reading for someone who has spent the last 13 and half years in the sector and really very little has been said about the Portas Pilots plan which i imagine has never really go off the ground as they would have hoped.
^^^ at a massive price 27 stores closing and it’s the ones that closing and the job losses.
But 73 have been saved, at least for now.
A small but significant victory for the high street.
Unless they change there business structure and be more competitive with there prices productive then it’s just gonna happen again.
On a more positive note, Brighthouse is closing 30 stores :
https://www.bbc.com/news/business-47135309
Not such a bad thing in my book given their business model of preying on the hard up and charging them extortionate interest rates.
They've been hit by the clampdown which restricts companies like them to only being able to charge a total amount of interest equivalent to the cost of the item being purchased, in other words you can only pay double the original cost of the item!
Thats still a hell of a markup, especially for those who can ill afford it, which is the very customer base they are aimed at.
Even at that kind of markup, they are struggling to make the business pay, good riddance I say.
Hi
Excellent comment and I agree with you, but it is not just Brighthouse but other companies with similar business models as well.
If the government really wanted to help the disadvantaged they would have a scheme were those who do not qualify for market rates of borrowing could borrow from them, say via the Post Office or online ad a rate of expense which would not cripple the borrower.
(06-02-2019 06:37 )munch1917 Wrote: [ -> ]On a more positive note, Brighthouse is closing 30 stores :
https://www.bbc.com/news/business-47135309
Not such a bad thing in my book given their business model of preying on the hard up and charging them extortionate interest rates.
They've been hit by the clampdown which restricts companies like them to only being able to charge a total amount of interest equivalent to the cost of the item being purchased, in other words you can only pay double the original cost of the item!
Thats still a hell of a markup, especially for those who can ill afford it, which is the very customer base they are aimed at.
Even at that kind of markup, they are struggling to make the business pay, good riddance I say.
dont feel sorry for some of their customer. uncle used to run one in bolton
christ some of his customers just wanted stuff and not pay for it one even shit in a microwave when it was recovered for non payment
Problem is who else will give them credit so unless they go on the rob to pay for stuff they need
there needs to be more put into things like Credit unions and the like
Guess our taxes will be increased to cover Liz's lost income
Another body blow to High street as well as ATM Users as thousands more now charging to withdraw with charges up £1 a time