The closing shop chains thread...

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Re: The closing shop chains thread...

Postby dutchman » Thu Jun 27, 2019 3:39 pm

Warwickshire stores at risk after bathroom retailer collapses

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Hundreds of jobs are at risk after bathroom retailer Bathstore went into administration.

Following the firm's collapse, administrators from business services firm BDO were called in and said the company was continuing to trade as normal as they attempt to sell the company as a going concern.

Bathstore has outlets in Nuneaton, Leamington, Solihull and Stratford upon Avon.

A total of 531 people are employed at its stores across the country and in the head office.

Bathstore’s chairman, Geoff Battersby, who joined the company in January 2018, said the firm had been hit by a marked reduction in consumer confidence in 2017 and increased sourcing costs following the 2016 Brexit vote.

The UK's biggest bathroom specialist was founded in 1990 by Patrick Riley and Nico de Beer who opened the first shop in Croydon, reports BirminghamLive.

In 2003 it was sold to the builders’ merchant Wolseley, which saw the store network expand from 33 to 170 stores.

In 2012 Wolseley sold Bathstore to the private equity firm Endless in a £15m deal but the company changed hands just two years later when it was acquired by the Stephens investment firm.

The company joins a growing list of high street stores which are struggling to stay afloat.

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Re: The closing shop chains thread...

Postby dutchman » Fri Jun 28, 2019 3:59 pm

Boots to close 200 stores in new blow to UK high street

Boots has confirmed plans to close 200 stores but says the "overwhelming majority" of staff affected will be redeployed.

The health and beauty chain said on Friday that closures will take place over the next 18 months.

Shutting 200 shops would equate to just under 10% of the Boots UK standalone outlets.

US owner Wallgreen Boots Alliance said it could not confirm specific stores earmarked at this stage, as it had only just started the process.

Boots UK's managing director Sebastian James said: "WBA has now approved an outline plan to consolidate around 200, principally local pharmacy, stores where we have a large number within close proximity.

"We believe this is the right thing to do as it means that we can invest more in staffing those stores while not reducing our 90% coverage within a 10-minute drive of a Boots.

"We do not anticipate a significant effect from this activity to colleagues as we will redeploy the overwhelming majority to neighbouring stores.

:sky_news:
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Re: The closing shop chains thread...

Postby dutchman » Mon Aug 05, 2019 4:55 pm

Tesco to cut 4,500 jobs across 153 Metro stores

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Supermarket giant Tesco says about 4,500 staff in 153 Tesco Metro stores are set to lose their jobs in the latest round of redundancies.

The UK's largest grocer said changes to the way the stores operated would "serve shoppers better" and help to "run our business more sustainably".

It said the stores were operating in an increasingly competitive and challenging retail environment.

Tesco boss Jason Tarry said the firm did not take the jobs decision lightly.
'Cost pressures'

The company said the Metro format was originally designed for larger, weekly shops, but now nearly 70% of customers used them as convenience stores, buying food for that day.

Tesco, which employs about 340,000 people in the UK and Republic of Ireland, said that changes to the stores would now include:

  • "faster and simpler" ways of filling shelves, with fewer products stored in the back rooms and more stock going straight to the shop floor
  • staff working "more flexibly" across the store to improve customer service at the busiest times of the day and in the right areas of the store
  • "leaner" management structure.
"In a challenging, evolving retail environment, with increasing cost pressures, we have to continue to review the way we run our stores to ensure we reflect the way our customers are shopping and do so in the most efficient way," Mr Tarry added.

Tesco Metro shops are sized between Tesco superstores and Tesco Express shops. They first opened in 1994.

It is also making some changes in 134 of its 1,750 Express stores, where customer footfall is lower.

Changes in those stores will include "a slight reduction in opening hours during quieter trading periods at the start and end of the day, and simplifying stock routines".

In January, Tesco announced it would close food counters in 90 of its stores as part of a wider cost-cutting plan that would affect 9,000 staff. Tesco said then that its remaining fish, meat and deli counters in 700 stores would be run on a full-time or flexible basis.

:bbc_news:
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Re: The closing shop chains thread...

Postby rebbonk » Mon Aug 05, 2019 6:00 pm

Tesco seem to be going rapidly downhill. My brother had most of his home delivery cancelled last week, and I've noticed more and more empty shelves when I go shopping there. I've also noticed a rise in prices.

Another forum that I use has A tesco manager as a member: he posts up some dreadful tales.
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Re: The closing shop chains thread...

Postby dutchman » Thu Aug 22, 2019 5:19 pm

Morrisons shuts four supermarkets, putting 400 jobs at risk

Morrisons is closing four supermarkets, putting more than 400 jobs at risk.

The Bradford-based grocer said the decision was made after a review of the performance of its 494 stores.

The stores shutting are in Crawley, Ince near Wigan, Shirley in Solihull and Swindon town centre.

Recent industry data showed Morrisons to be the worst-performing member of the big four supermarket chains in the three months to 11 August, with sales down 2.7%. The Kantar data revealed customers were putting fewer items in their baskets when shopping there, with Morrisons’ market share now 10.1%, down from 10.3% a year ago.

A Morrisons spokesperson said: “We will now be going through a consultation process at the stores and discussing how to reduce redundancies and where possible redeploy colleagues.”

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Re: The closing shop chains thread...

Postby rebbonk » Wed Aug 28, 2019 5:14 pm

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Re: The closing shop chains thread...

Postby dutchman » Wed Aug 28, 2019 5:30 pm

I wonder if it was affected by a downturn at neighbouring Primark? :roll:
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Re: The closing shop chains thread...

Postby dutchman » Sun Sep 22, 2019 11:38 pm

Rescue hopes fade as Thomas Cook slides towards collapse

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Thomas Cook, Britain's oldest travel agent, was close to collapsing on Sunday night as last-ditch rescue talks looked like ending in catastrophic failure.

Sky News has learnt that the company's creditors and the government are anticipating an announcement on Monday morning that the 178-year-old business had ceased trading - with a new Whitehall taskforce set up to address the crisis.

A final decision by Thomas Cook Group's directors to appoint insolvency practitioners is expected to be taken in the early hours of Monday "barring a last-minute miracle", they added.

Insiders told Sky News that the Official Receiver was expected to be involved in any insolvency process, with KPMG, the big four accountancy firm, handling the administration or liquidation of Thomas Cook's UK tour operating division - which comprises more than 550 high street shops.

AlixPartners is expected to oversee the insolvency of the group's airlines, with the Department for Transport and Civil Aviation Authority co-ordinating the biggest-ever peacetime repatriation of British citizens.

In total, Thomas Cook has more than 600,000 customers currently overseas, more than 160,000 of whom are from the UK.

Sources said the government was expected to launch a joint taskforce to oversee Whitehall's response to the crisis, which will pose an immediate threat to 9000 UK-based jobs.

:sky_news:
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Re: The closing shop chains thread...

Postby dutchman » Wed Sep 25, 2019 3:15 pm

Sainsbury's to close 60 Argos stores to cut costs

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Sainsbury's is shutting another 60 to 70 Argos shops and moving them inside its supermarkets as part of a reorganisation.

It will also close up to 15 supermarkets and 40 convenience stores.

The closures are part of a plan to reduce costs by £500m over five years, it said.

However Sainsbury's also plans to open around 120 new grocery outlets, mostly convenience stores.

The supermarket did not say where the closures would be, but said all Argos staff would be relocated.

The plans were announced as Sainsbury's warned investors profits had dipped over the last six months.

It blamed bad weather and higher marketing costs for the forecast £50m drop on the period last year.

Sainsbury's reported sales for the three months to 21 September for stores open at least a year and excluding fuel dropped 0.2%. Clothing and food sales rose, while household goods sales dropped 2%.

A fall in its pension deficit means it can reduce its contributions by £50m a year.

"We have focused on reducing prices on every day food and grocery products and expanding our range of value brands, which have been very popular with customers," said Chief Executive Mike Coupe. "At the same time, we are investing significantly in our supermarkets."

Fewer items on promotion and fewer new video game and toy releases hurt sales at Argos, he said, while Sainsbury's Tu brand of clothing performed well.

:bbc_news:


So, nothing to do with being undercut by Aldi and Lidl then? :roll:
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Re: The closing shop chains thread...

Postby rebbonk » Wed Sep 25, 2019 5:29 pm

Tesco tried mixing white goods with food and failed miserably. I can't see Sainsbury's having different results. (Although it might look good on paper for a couple of years as the rent savings will be apparent.) Long-term this will be a disaster.
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