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Now Adams has gone into Administration who is next?


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Old 28-12-2008, 20:29
eddieh
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Will a store be next? Or will it be a local authority?

Oxford appears to be in dire straights at the moment. When NCP are cutting the cost of parking throughout the UK to help stimulate the retail economy (Source: www.ncp.co.uk/VAT ), Oxford City Council are increasing the cost of parking by 8% - and they admit it is because they are trying to "balance the books".

With a severe drop in retail property rental income, reductions in the number of visitors to city centres as well as the money lost in Iceland - I can there are problems in city halls throughout the country.

Does anyone know if Administrators have ever been called in to take over a council?
I dislike Oxford City Council. thank god they no longer own the park & ride any more making it cheaper now to do that instead.
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Old 28-12-2008, 20:37
Ross Murray
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I would be concerned at DSG International as a whole as it owns pc world, dixons and currys nd currys digital etc but as a whole it is sellable if any of these branded retailers goes under

but if it went under restructering i would fancy pc world to be merged under the currys branding and streamlined into one operation

but JJB Sports will probabily go under sometime next year
I know your all entitled to your opinion but it is upsetting to employees of these companys. I work for JJB and I can say it is really unlikely that JJB will go under in the next year despite the trading conditions.

The company has may assets which it can sell. Take the Original Shoe Company for example. It is currently in the process of being closed down and rebranded as "Original" with different products. As a new company it will be debt free and appealling to potential buyers. Theirs also Qube, and JJB fitness centres - buyers have shown interest.

JJB have issued statements to staff and in September had £50 million of facilities available.

I'm only a part time retail assistant but believe me the amount of times I've been asked if JJB is closing - or worse people assuming that we have already entered administration. Its very annoying. JJB will not close anytime soon despite trading conditions. We are still trading well, and as an example my store is over £20,000 up on target this week.

To those mentioning multiple local stores closing - these are loss making stores and the company has closed these stores in areas where there are more than 1/2 branches in close proximity. Mention of products such as adidas etc being chavy - that is opinion but the company is reinvigorating its product lines, with new ranges coming in very frequently, such as childrens character clothing ranges, diversifying footwear etc.
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Old 28-12-2008, 20:37
scorpio20080
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You forgot MK One. Think they went into administration sometime during the summer.
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Old 28-12-2008, 20:43
truestepper
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Ringtons supply the tea for M&S & Waitrose, I'd imagine that's a good contract for the company
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Old 28-12-2008, 20:51
randomelement
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I think Ryman the stationer or Staples my go next, there seems to be a lot of competition in that sector.
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Old 28-12-2008, 21:12
bingoman
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So far its:

MFI
Woolworths
Rosebys
Adams
Officers Club
Zavvi
Whittard
JM Nutrition
Sound Control
David McLean House Builders
Texstyle World (reported in Manchester Evening news)
Fads (reported in Manchester Evening news)

who is next?
You can also add Ethal Austin to this list, because as far as i know they are still in administration
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Old 28-12-2008, 21:43
darkpaw
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according to the Times today, the following are thought vulnerable to be the next to fall:

Focus DIY, which is renegotiating its rental arrangements and has closed stores;

Jessops, which has given warrants on shares to HSBC in return for a loan extension;

Clinton Cards, which is reliant on short-term financing

Sir Tom Hunter’s garden-centre business Wyevale, which has completed a debt-for-equity swap with its banks;

Land Of Leather, which has rejected offers for the business.
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Old 28-12-2008, 21:43
LittlePolly
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I couldn't believe it about Adams, a new shop just opened about a week in the centre where I worked and then announcement came out that they were in administation. It's scary how fast all these businesses are folding. It's a scary reminder of how much of our society is built on debt
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Old 28-12-2008, 21:59
Steven Milloy
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You can also add Ethal Austin to this list, because as far as i know they are still in administration
Check this:

http://www.guardian.co.uk/business/2...treetretailers
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Old 28-12-2008, 22:04
Steven Milloy
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H Samuel.
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Old 28-12-2008, 22:06
linkinpark875
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according to the Times today, the following are thought vulnerable to be the next to fall:
Well that list sounds a bit better. I hope none close but I would rather we shed some of these out of town sofa and furniture shops.

Focus can go as we have B&Q and Homebase. Clinton Cards have two shops in some towns surprised they survive with the crazy prices, nice cards but not a card shop I go to very often.

I don't mind if photo shops go as there is plenty of places to buy them rather than a photo specialist which seems rare these days. I think shops like Game and Game station will do well. There was a queue right round the game shop in my town the other day. These shops seem to do the boom right now especially with those massive guitar boxes on sale and the high price of controllers these shops must be extremely popular.

I am a bit surprised at some of the shops closing like Officers club and Woolworth's as rival stores like Top Man and WH Smith in my town do nothing. Always sit empty with no customers.

I know this is not the case in every town. HMV is always very busy.
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Old 28-12-2008, 22:11
skp20040
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I know your all entitled to your opinion but it is upsetting to employees of these companys. I work for JJB and I can say it is really unlikely that JJB will go under in the next year despite the trading conditions.

The company has may assets which it can sell. Take the Original Shoe Company for example. It is currently in the process of being closed down and rebranded as "Original" with different products. As a new company it will be debt free and appealling to potential buyers. Theirs also Qube, and JJB fitness centres - buyers have shown interest.

JJB have issued statements to staff and in September had £50 million of facilities available.

I'm only a part time retail assistant but believe me the amount of times I've been asked if JJB is closing - or worse people assuming that we have already entered administration. Its very annoying. JJB will not close anytime soon despite trading conditions. We are still trading well, and as an example my store is over £20,000 up on target this week.

To those mentioning multiple local stores closing - these are loss making stores and the company has closed these stores in areas where there are more than 1/2 branches in close proximity. Mention of products such as adidas etc being chavy - that is opinion but the company is reinvigorating its product lines, with new ranges coming in very frequently, such as childrens character clothing ranges, diversifying footwear etc.
I understand that the reason the gossip started about JJB is due to their difficulties thanks to having to find money to repay loans to Icelandic banks which collapsed, which is no fault of JJB. But JD have bought 10% of JJB so personally I would say the furture looks ok for JJB , if the worst came to the worst then I think JD or Dave Whelan JJB's original owner would purchase further shares or go for a comp[lete takeover.

But the goissip that is going round at present in the media about every companies financial health and in public could damage even a healthy business, it can cause run on sales of shares and a perfectly good company can go to the wall because of whispers.


according to the Times today, the following are thought vulnerable to be the next to fall:
To my mind The Timne should not even be printing articles like that at a time like this. All they will succeed in doing is now possibly causing people to sell their shares which will then actually help those companies to go down.
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Old 28-12-2008, 22:12
Carmen Queasy
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Is administration just a bandwagon?!

All the companies who have gone into it seem to be because people are shifting their money elsewhere, and not much to do with the credit crunch.

Woolies - People but CDs online, clothes in Primark and ASDA and household items in supermarkets.

Adams - Primark, ASDA etc

Zavvi - By-product of Woolies, but people shop online for entertainment.

Olan Mills - Is there still a market for professional photography when it's not required?! Don't people just use digital cameras and print them out themselves now?

None of these shops have a unique product type and people can get them cheaper elsewhere.

Seems more to be a shift in spending, rather than a dramatic cut in spending. Kind of like how video killed the radio star and retail outlets killed the local market scene.
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Old 28-12-2008, 22:13
zexstream
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JJB were in massive financial trouble last year, they restructered the business and shut down a lot of stores.

Since nothing has changed, the company as a whole is still loosing money.

Mark my words they will be gone.
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Old 28-12-2008, 22:15
linkinpark875
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I understand that the reason the gossip started about JJB is due to their difficulties thanks to having to find money to repay loans to Icelandic banks which collapsed, which is no fault of JJB. But JD have bought 10% of JJB so personally I would say the furture looks ok for JJB , if the worst came to the worst then I think JD or Dave Whelan JJB's original owner would purchase further shares or go for a comp[lete takeover.

But the goissip that is going round at present in the media about every companies financial health and in public could damage even a healthy business, it can cause run on sales of shares and a perfectly good company can go to the wall because of whispers.
JJB have been opening stores and closing them for the last ten years. I think they seem in bother now as many are shutting.

The last time I was in one they were actually giving me products for free I got some posters free they couldn't sell for 99p.

It was a help yourself attitude from the sales assistant. The bag I came out the shop with had upto 95% off so basically they are giving stuff away now. I must say they have come down in price alot but the Sports World/Direct brand have been under cutting them for some time now.
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Old 28-12-2008, 22:18
chinchin
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Mackays have gone also
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Old 28-12-2008, 22:20
linkinpark875
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Mackays have gone also
Are

Gap
Mothercare
Card Warehouse

Still open anywhere?
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Old 28-12-2008, 22:20
darkpaw
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To my mind The Times should not even be printing articles like that at a time like this. All they will succeed in doing is now possibly causing people to sell their shares which will then actually help those companies to go down.
yes, you do make a good point, looks like business journalists are going all Peston-esque

oh and sorry i forgot to give the link...

Clothing chain Adams cut down by retail wipeout... fifth paragraph down.

They even cast doubts over M&S in the next paragraph, suggesting that a profits warning is to be expected. Cue selling of M&S shares?
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Old 28-12-2008, 22:21
linkinpark875
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yes, you do make a good point, looks like business journalists are going all Peston-esque

oh and sorry i forgot to give the link...

Clothing chain Adams cut down by retail wipeout... fifth paragraph down.

They even cast doubts over M&S in the next paragraph, suggesting that a profits warning is to be expected. Cue selling of M&S shares?
I wonder what is more tragic if Marks and Spenser closed or the Woolworth's closure? both are historical are they not?
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Old 28-12-2008, 22:25
PDJames
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I think Ryman the stationer or Staples my go next, there seems to be a lot of competition in that sector.
I wonder if Theo Pathitis thinks the same!
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Old 28-12-2008, 22:26
darkpaw
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I wonder what is more tragic if Marks and Spenser closed or the Woolworth's closure? both are historical are they not?
yes they are (were) both around 100 years old
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Old 28-12-2008, 22:28
trinity2002
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Are

Gap
Mothercare
Card Warehouse

Still open anywhere?
The Card Warehouse at our local mall was closing months ago...I remember the closing down sale. But it is still there, trading.

Gap closed their store in Sheffield but still have one at Meadowhall although they have moved to smaller premises.

I haven't noticed any Mothercare's closing around here.
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Old 28-12-2008, 22:31
darkpaw
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Mackays have gone also
no they haven't

at least my local one was still trading last time i looked.

Their website is also completely fine....

http://www.mackays.co.uk/
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Old 28-12-2008, 22:32
linkinpark875
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The Card Warehouse at our local mall was closing months ago...I remember the closing down sale. But it is still there, trading.

Gap closed their store in Sheffield but still have one at Meadowhall although they have moved to smaller premises.

I haven't noticed any Mothercare's closing around here.
I guess there is hope as some shops have closed in my town about 5/10 years ago and returned just last year. The Card warehouse has long gone here but it had to much competition once Card Factory opened.

Since Poundland has been in my town every pound store has shut. It just shows you too many of one type of shop is never good.

I am sure companies like The Works and Stationary Box have all previously gone into administration but got saved (well some stores) so perhaps the media are over hyping this a little. I know The Officers Club is closing but most of the shops were saved so I am hopeful although the one in my town is going, it may return in a few years time like a few other shops have.
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Old 28-12-2008, 22:34
chinchin
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Are

Gap
Mothercare
Card Warehouse

Still open anywhere?
I think I've seen 'Card Warehouse.'

Last edited by chinchin : 28-12-2008 at 22:35. Reason: Ooops! May have seen 'Card Factory'
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