British High Street Death List 2020

[Blumf]

Intu have only themselves to blame, after removing these culturally significant escalators from the centre of the mall, they deserve to go bust!

https://www.dailymotion.com/video/x8jlx3

[Danger Man]

Ha. Given that intu are on the verge, not sure who they think's going to lend them the money to do that. Have they done anything with the Broadmarsh in Nottingham yet?

They've demolished it. Most of it.

[Blue Jam]

John Lewis in trouble:

https://www.bbc.co.uk/news/business-51750252

[Paul Calf]

Wrong fred

[Blumf]

Another debt vampire goes down:

https://www.theguardian.com/money/2020/mar/05/payday-lender-peachy-falls-into-administration

One of the UK's best-known payday lenders has collapsed into administration – the latest apparent casualty of a crackdown on costly loans.

Peachy was one of the biggest names left in the controversial sector following the demise of Wonga and QuickQuid, and its collapse will deal a blow to customers who claim they were mis-sold loans they could not afford.
...
Its website had quoted a representative interest rate of 855% APR.

[Gurke and Hare]

They've demolished it. Most of it.

Well it's a start. Have they announced their very exciting definitely going to happen huge retail anchor client yet?

[Blue Jam]

Another debt vampire goes down:

https://www.theguardian.com/money/2020/mar/05/payday-lender-peachy-falls-into-administration

Amigo Loans also possibly fucked:

https://www.independent.co.uk/news/business/news/amigo-loans-shares-value-james-benamor-founder-quits-a9378036.html

[BlodwynPig]

Wrong fred

DebtFred?

[Huxleys Babkins]

John Lewis in trouble:

https://www.bbc.co.uk/news/business-51750252

1051. Posted by ellis
1 hour ago
ONLINE purchasing and retail parks IS THE RETAIL CANCER THATS KILLING classic RETAIL SHOPS AND town centre STORES FOR LAST 15 YEARS and is now gathering real momentum.
physical shopping at shops/stores IS TOTALLY HANDICAPPED
running costs of retailer, cost of customer transport , car users which adds parking. BAN SHOPPING ON LINE FROM 8AM -8PM XCEPT EMERGENCY SERVICES. Otherwise death

Christ.

[Blumf]

Dead beat Lebanon

https://www.bbc.co.uk/news/world-middle-east-51785690

Lebanon is to default on a foreign debt payment for the first time in its history as the country struggles with a major financial crisis.

Prime Minister Hassan Diab said Lebanon would not be making a bond payment of $1.2bn (£900m) due on Monday.

"The debt has become bigger than Lebanon can bear, and bigger than the ability of the Lebanese to meet interest payments," Mr Diab said.

[bgmnts]

I remember buying my first ever egg cups from Lebanon.

[Blumf]

Slightly more high-street-y news.

Saudi Arabia and Russia have kicked off in the oil markets, taking the price down to $30.

https://notayesmanseconomics.wordpress.com/2020/03/09/welcome-to-the-oil-price-shock-of-2020/

I think the theory is, they're trying to squeeze out the North American shale oil producers, whose production costs are around $50 a barrel. But, because everything is interconnected and loaded up with debt in this neo-lib paradise, that's going to fuck up lots of the financial system in the process, which is already struggling with that virus thing we've all been hearing about. Expect shit to get (even more) depressing.

Summed up in a sound: Nuuuurrrrhhhh!!

[evilcommiedictator]

Line go down, old people cry, lol

[Alberon]

I read today that even if they take down the US shale companies the infrastructure will remain intact and bought out will return unladen with debt. Short of keeping the price of oil permanently low they can't stop them.

[thenoise]

Christ.

High street stores should receive a boost from online shopping 'buy and collect' services, together with the fact that the postal service is irreversibly fucked after privatisation. But they won't, because it is absolute dogshit, barely works takes forever and when there are mistakes the staff don't want to know. Especially you, John fucking Lewis.

[petril]

English people can't do malls properly.

The listless, spiritless, catatonic ennui is a North American speciality.

(Rhyme not intentional)

yeah but do the yanks have a guy who fixes watch straps but you can't work out what the fuck his retail unit's core business is? that's what England is desperately trying to throw away here

[dissolute ocelot]

I read today that even if they take down the US shale companies the infrastructure will remain intact and bought out will return unladen with debt. Short of keeping the price of oil permanently low they can't stop them.

When we have all switched to renewable energy the price of oil will plummet and you'll hardly be able to give it away.

Slightly more on topic, Cumbernauld's legendary brutalist shopping centre faces demolition because apparently North Lanarkshire Council has decided there's no point in keeping the town centres of Cumbernauld, Motherwell, Airdrie, etc, as primarily shopping destinations, and "mixed use" is the future, although what the fuck else you could do in central Cumbernauld I've no idea. (Maybe they're hoping for legalization of drug consumption rooms.)

[Head Gardener]

saw this pretty ambitious price for a ladies coat in a charity shop today, especially has it has "a small hole in the collar"!

[pigamus]

They must have a big problem with people nicking stuff like that.

[thenoise]

especially has it has "a small hole in the collar"!

Ideal for someone with a small head.

[Huxleys Babkins]

Laura Ashley have called in the administrators.

[Pseudopath]

Laura Ashley have called in the administrators.

This is probably the first retail casualty where I responded with the classic "thought she was already dead" reaction. I know Laura Ashley herself is actually dead, but you know what I mean.

[Paul Calf]

If Lashers have gone bust, time is running short for Britain's aspiring lower-middle classes.

[Puce Moment]

Laura Ashley? Who next? Cath Kidston?

[danielreal2k]

Laura Ashley have called in the administrators.

Great band

[dissolute ocelot]

Laura Ashley's recently history is truly bizarre: they're owned by a Malaysian company, MUI, that according to Wikipedia also has a sideline in televangelism. To quote Wikipedia's page on MUI Group:

The company also purchased evangelist Jim Bakker's bankrupt Heritage USA Christian resort and theme park in Fort Mill, South Carolina, in 1991 and operated it for a number of years under its subsidiary, Regent Carolina Corporation, before selling the property in the mid-2000s. In recent years, MUI relocated Laura Ashley's United States corporate headquarters to a building at the former Heritage USA site that once served as Jim Bakker's PTL ministry headquarters.

Who'd've thought Laura Ashley was so interesting!?

[Ian Drunken Smurf]

Laura Ashley? Who next? Cath Kidston?

Please let it be Cath Kidston. Prime "shit 4 cunts" brand.

[Tony Tony Tony]

Laura Ashley? Who next? Cath Kidston?

Gotta be The White Company. Never understood their USP, selling overpriced white stuff, whats that all about?

[beanheadmcginty]

Ask Pablo Escobar

[Alberon]

Eat closing for good.

The struggling Eat sandwich chain will disappear permanently from the UK high street after its owners, Pret Manger, closed the doors of its remaining 90 branches.

Most high-street coffee shop and restaurant chains have announced temporary closures because of government restrictions on social distancing, but it was confirmed on Monday that Eat's closure was permanent.

The company tweeted: "After 24 years of creating, making and serving real food, it is time for us to say goodbye. Thank you to all of our wonderful customers – we've loved every minute of our journey."

The chain was acquired by its much larger rival Pret a Manger in May 2019 for an undisclosed sum as a route to rapidly expanding its own standalone vegetarian brand, Veggie Pret, which sells only vegetarian and vegan food.

The majority of Eat's outlets were in London but it also had sites around the UK including in Birmingham and Manchester, as well as airport outlets in Bristol, Edinburgh and Heathrow. Franchise partners will continue to operate outlets in Paris Gare du Nord and Spain.