The closing shop chains thread...

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Re: The closing shop chains thread...

Postby dutchman » Tue Mar 17, 2020 7:12 pm

Fashion chain Laura Ashley files for administration

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Luxury high street fashion store Laura Ashley has filed for administration, putting thousands of jobs at risk.

Rescue talks were originally halted by the coronavirus, but for some time now the retailer has been struggling financially.

Talks had been taking place with stakeholders over financing, but Laura Ashley said its "revised cash flow forecasts and increased uncertainty" mean it will not be able to secure these funds in sufficient time.

Laura Ashley said it had seen an upturn in sales in recent weeks, with trading up 24% year-on-year for the seven weeks to March 13.

However, it said the virus outbreak has "had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national situation".

The situation has put 2,700 jobs at risk, with some of these across Coventry and Warwickshire.

There are four Laura Ashley stores across the region, located in Leamington, Rugby, Stratford and Solihull.

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Re: The closing shop chains thread...

Postby dutchman » Tue Mar 17, 2020 7:13 pm

rebbonk wrote:Carphone warehouse has announced closure and Laura Ashley are entering administration


You beat me to Laura Ashley by just a few seconds! :smile:
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Re: The closing shop chains thread...

Postby dutchman » Fri Mar 27, 2020 5:29 pm

BrightHouse on brink of administration with thousands set to lose their jobs

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Thousands of jobs are under threat with rent-to-own giant BrightHouse reportedly set to enter administration.

The company - which has stores in Coventry, Nuneaton and Rugby - is expected to appoint accountancy firm Grant Thornton as administrator on Monday (March 30) after its investors withdrew support for a proposed restructuring, according to Sky News.

The move could see more than 2,400 workers lose their jobs across the country.

A spokesman told Sky News on Friday: "The national response to the Covid-19 pandemic has required us to prioritise the health and well-being of our staff and customers, in particular by closing all stores in the last few days.

"While we continue to actively engage with our stakeholders, these developments have made the task of finding a future for BrightHouse more challenging."

BrightHouse, which provides loans to consumers to purchase electrical items such as televisions and washing machines, trades from 240 stores across the UK and has roughly 200,000 customers, reports The Mirror.

Its administration is likely to mean that customers with outstanding mis-selling complaints will receive only a fraction of the sums they are seeking.

The company most recently went through a restructuring back in 2017 - last year it closed 10 per cent of its stores.

If the chain goes bust, it will follow the likes of Wonga, PiggyBank and Quidquid, which all collapsed over compensation claims after being pulled up for their eligibility checks.

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Re: The closing shop chains thread...

Postby rebbonk » Fri Apr 03, 2020 4:51 pm

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Re: The closing shop chains thread...

Postby rebbonk » Sat Apr 04, 2020 12:07 am

Picking up vibrations that New Look may be having difficulties
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Re: The closing shop chains thread...

Postby Melisandre » Sat Apr 04, 2020 1:19 pm

I think most will go Rebbonk . I have a instinct all these places are doomed so Government have plans for the use of land they all take up.
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Re: The closing shop chains thread...

Postby rebbonk » Mon Apr 06, 2020 5:02 pm

Clark's shoes are saying some of their shops will close permanently after the present enforced closures.
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Re: The closing shop chains thread...

Postby dutchman » Sat Apr 18, 2020 10:57 pm

The Debenhams stores that will close in our area

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Two Debenhams stores in Warwickshire will not be reopening after the nationwide lockdown, it has been confirmed.

Bosses at the department store have confirmed that seven stores will not reopen, including Leamington Spa and Stratford-upon-Avon.

According to The Mirror, the high street chain has said it has agreed terms to save around 120 of its 143 branches across the UK.

The retailer said talks are at an "advanced" stage on the remainder of its estate and that bosses are confident that deals can be arranged "in the coming days" but a "handful" more shops could be at risk.

It was unable to rule out further closures.

With two stores in Warwickshire set to close, it leaves branches of the UK's oldest department store in Coventry's West Orchards, Nuneaton, and Rugby, locally.

The company said it will work to "re-open and trade as many stores as possible" when restrictions are lifted.

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Re: The closing shop chains thread...

Postby dutchman » Tue Apr 21, 2020 1:52 pm

Cath Kidston to close in Leamington in another blow for high street

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Cath Kidston has confirmed it is closing all 60 of its UK stores - bringing more closures to local high streets.

The homeware, clothing, accessories and gift brand has a store in Leamington Spa's Royal Priors shopping centre which will now close along with 59 others in the UK.

The company confirmed today that it had called in administrators on Friday, April 3.

It is another blow for Leamington Spa's high street after Debenhams confirmed it was closing in the town as well as in Stratford-upon-Avon.

The brand will continue trading under parent company, Baring Private Equity Asia.

It will buy the brand alongside its e-commerce and wholesale businesses from administrators.

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Re: The closing shop chains thread...

Postby rebbonk » Thu Apr 30, 2020 1:13 pm

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