Just watching the national news and USC is now closing down their shops and gone into administration. It's now looking that one high street company is now going to the wall each day.
Now Adams has gone into Administration who is next?
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I have just been listening to the national news and and High street retailer USC has gone to the wall and called in the administrators.
Also anyone who has gift vouchers for Zavvi has to write into the administrators to see if they can use them other than that the Zavvi shops will refuse them.
It now looking like one retailer a day is going to the wall each day.
Also anyone who has gift vouchers for Zavvi has to write into the administrators to see if they can use them other than that the Zavvi shops will refuse them.
It now looking like one retailer a day is going to the wall each day.
Originally Posted by Farscape888:
“Do hope JJb will be fine as thats my gym your talking about”
“Do hope JJb will be fine as thats my gym your talking about”
The profitable fitness division is being sold off
Next won't go, they've been conservative. Bought in a lot less stock, took on less staff and refused to reduce prices before their traditional sale which has worked well for them
They did nearly go to the wall in the late 80s but that was because of the over expansion (next cafe, next2, nextmen etc) and at the time were poorly managed by George (that George)
well the photo shop click is in administration as i was in my local shop the other day and it had a note on the counter saying so, and the website sayed a few weeks ago that they are not taking any more orders online only for online prints !!!
Originally Posted by micksea241:
“Just watching the national news and USC is now closing down their shops and gone into administration. It's now looking that one high street company is now going to the wall each day.”
“Just watching the national news and USC is now closing down their shops and gone into administration. It's now looking that one high street company is now going to the wall each day.”
This is not what I read on the BBC News.
I gather round 43 USC shops have been saved out of over 58. Only 15 are in administration the others trade as normal.
This happened to the Officers Club yes they have gone into administration and a few shops will close but the ones that are saved will continue to trade as normal and have owners now.
So USC will continue. Whether it means less shops who knows. Zavvi and Adams however have yet to find buyers for any of there shops so it's possible they might all go like Woolworths.
No Woolworth's shops were saved as there entertainment business had gone plus they have mega debt. I think the current situation means we will lose a few chains but it's more likely we see some shops go just from towns and some getting saved elsewhere.
Originally Posted by darkpaw:
“puzzling...
i am sure if it was closing that it would have made at least the local news there, but no mention in the Billericay Weekly News website of their local branch of Mackays closing”
“puzzling...
i am sure if it was closing that it would have made at least the local news there, but no mention in the Billericay Weekly News website of their local branch of Mackays closing”
Afternoon Darkpaw! Thought I was right! Looked in the window of M & Co in Grays High Street and the store is completely empty!
Adams is gone:
http://news.bbc.co.uk/1/hi/business/7811658.stm
111 stores closing with immediate effect.
http://news.bbc.co.uk/1/hi/business/7811658.stm
111 stores closing with immediate effect.
Shame for all those people losing their jobs, but I was never an Adams fan anyway.. When my kids were small , anything I bought from Adams always twisted in the wash
Adams?! Nooooo, thats where my mummy used to buy my clothes from and where I had planned to get my kiddies clothes 
I think one of the Pay-TV suppliers will go in 2009 with customers unwilling to pay extra subscriptions for TV.
Sky & Virgin Media will be fine, but don't be surprised to see Top-Up TV go under.
Sky & Virgin Media will be fine, but don't be surprised to see Top-Up TV go under.
Originally Posted by wills**01:
“i couldn't give a monkeys who goes under.
My jobs safe.”
“i couldn't give a monkeys who goes under.
My jobs safe.”
Pull that ladder up Jack.
Originally Posted by zexstream:
“What is the story with Adams?
The one in my town is still open.
Have they been saved!”
“What is the story with Adams?
The one in my town is still open.
Have they been saved!”
No, the majority of stores have been closed. The administrators will continue to spout about how they have several interested parties, whilst all the stock is moved to the remaining stores and sold off as part of a sale...
This will then be unveiled to be the dreaded 'closing down' sale, and within a month Adams will be a distant memory.
The shiny new one in dunfermline is still open.... for now.
Originally Posted by Ross Murray:
“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 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.”
Well.....you got that one wrong!! OSC and Qube both in administration now with no buyers likely!! JJB to follow before Saturday?????....seems possible
Originally Posted by Christiedmc:
“Well.....you got that one wrong!! OSC and Qube both in administration now with no buyers likely!! JJB to follow before Saturday?????....seems possible”
“Well.....you got that one wrong!! OSC and Qube both in administration now with no buyers likely!! JJB to follow before Saturday?????....seems possible”
The new Chief Exec already told the press that he'd close both these stores when took over last month, either voluntarily or involuntarily
Mike Ashley was looking at JJB but he's already taken some profitable stores and locations from them in an earlier fire sale
He's now expected to go for the profitable JJB Gym and JJB Soccerdome businesses' which if sold would pay all but £5m of JJB's debts off
Originally Posted by wills**01:
“i couldn't give a monkeys who goes under.
My jobs safe.”
“i couldn't give a monkeys who goes under.
My jobs safe.”
This reminds me that fate can have a way of making people reap what they sow: Job's still safe?
Originally Posted by myss:
“This reminds me that fate can have a way of making people reap what they sow: Job's still safe?”
“This reminds me that fate can have a way of making people reap what they sow: Job's still safe?”
Hmmm. Very observant of you. Not so smug now eh?
Originally Posted by Ambassador:
“The new Chief Exec already told the press that he'd close both these stores when took over last month, either voluntarily or involuntarily
Mike Ashley was looking at JJB but he's already taken some profitable stores and locations from them in an earlier fire sale
He's now expected to go for the profitable JJB Gym and JJB Soccerdome businesses' which if sold would pay all but £5m of JJB's debts off”
“The new Chief Exec already told the press that he'd close both these stores when took over last month, either voluntarily or involuntarily
Mike Ashley was looking at JJB but he's already taken some profitable stores and locations from them in an earlier fire sale
He's now expected to go for the profitable JJB Gym and JJB Soccerdome businesses' which if sold would pay all but £5m of JJB's debts off”
True but most informed analysts stating that unless they raise £70M from the health club sale (which is very unlikely) they will have insufficient capital to continue for any length of time. Bear in mind also that the stand-still arrangement with lenders ends this weekend so......still think you will see some significant news before the weekend!
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