The High Street Crisis in Britain

(29-11-2020 18:22 )Kevin555 Wrote:  

(27-11-2020 14:16 )lovebabes56 Wrote:  *** BIG NEWS***
15,000 jobs at risk as fashion retail Group Arcadia on 'brink of ollapse'

I wonder how many more retail groups face similar position andouldn't be happening at a worse time for those working in the stores affected

Hi

It is not only 15,000 jobs going, it is the domestic supply chain and this is another 10,000 jobs. Most of the manufacturing is done in low cost centres but the chain still creates a lot of secondary British jobs.

To this mix add in a £571 Million pension deficit and money owed to service providers, for a lot of people it will be a miserable Christmas, particularly those who are in receipt of a pension.

Speaking to a friend, he was saying for BHS Phillip Green paid in £361 Million, but he had Arcadia at the time, will he want to or even be able to pay this amount into the scheme to cover the shortfall

Shouldnt even be an issue make it so he is liable for it not really a leftie and want goverment regulation of things but its cunts like green that really wind me up the bad side of capitalism

Final straw was that because his missus is one of the biggest creditors they will get any money from the Sale first and the rest of the poor suppliers and workers will have to wait to the back of the fucking queue

More High Street shops going away by the looks of it. A while back I predicted that High Streets would eventually be nothing more than coffee shops, resturants and online order pick up locations. Looks like that could be coming true quicker than I thought.

And where was Sir Philip Green as the group collapsed? on his fucking yacht in Monaco. He should never have been knighted and wasn't the PM one of those who said he should be?

(01-12-2020 06:21 )Kevin555 Wrote:  One other result of this is that Mike Ashley has pulled out of Debenhams rescue talks.

It's JD Sports who have pulled out, Ashley was blocked and frozen out last time Debenhams were on the brink.
JD have pulled out because the Arcadia brands were a big chunk of Debenhams sales.
Turning Ashley away last time may not have been the best plan after all, not sure he'll come to the rescue this time round.

He did offer a rescue loan of £50m though

***BREAKING NEWS***

Debenhams to go into lquidation after JD sports pull out - another familiar name lost from high street

(01-12-2020 07:41 )lovebabes56 Wrote:  And where was Sir Philip Green as the group collapsed? on his fucking yacht in Monaco. He should never have been knighted and wasn't the PM one of those who said he should be?

Both Philip Green and Fred 'the shred' Goodwin were recommend by and knighted during the reign of your beloved Tony Blair but don't let that stand in the way of your blaming those evil tories.

I doubt Blair is 'beloved' by anyone here.

Nice try though.

"..the sorts of shifts you might see in 10 yrs have happened in a year"

Add into that mix the news that John Lewis have revealed that they are planning more store closures certainly could accelarate that shift and I think that would be a really big hammer blow to the High Street. I agree Southside the last 12 months has seen that earthquake move probably far quicker than many of us probably anticipated - and to the point where I think the job losses could easily outstrip job opportunities by a huge margin that may not be easy to recover to a pont of equal balance and can only think there would have to be yet another complete overhaul of the benefits system to even cope what is likely to come.