Author Topic: Carillion scrambles to stay afloat  (Read 105968 times)

Offline Nobby Reserve

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Re: Carillion scrambles to stay afloat
« Reply #120 on: May 3, 2018, 11:47:47 am »
Oh, and the Original Factory Shop (220 stores) is the latest retailer considering this.

The property boom of the 90's/00's led to soaring rents. When consumer confidence & retail sales were rosy, this was absorbed. Now sales are falling (from bricks & mortar retail outlets), retailers are looking to reduce rents. As more do it, there's an increasing danger of a domino effect as other retailers don't want to see competitors secure competitive advantage in the form of lower overheads.

We could be looking at a potential slump in commercial property prices, especially on the high street/retail parks, which would overall be a very good thing.
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Re: Carillion scrambles to stay afloat
« Reply #121 on: May 3, 2018, 02:09:43 pm »
Rents have been ridiculous for a while, it's part the reason we have so many empty high street stores (both the cause of them closing, and the reason they haven't found new tenants). Have dealt with this first hand with 5 landlords (6 locations) and they have all been the same.

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Re: Carillion scrambles to stay afloat
« Reply #122 on: May 12, 2018, 04:30:58 pm »
Looks like Poundland is next.

CVA likely to be announced putting it up for sale with 100 of its 355 stores closing.

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Re: Carillion scrambles to stay afloat
« Reply #123 on: May 17, 2018, 07:23:22 am »
Mothercare closing 50 stores and renegotiated rent on 21 others - http://www.bbc.co.uk/news/business-44148937

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Re: Carillion scrambles to stay afloat
« Reply #124 on: May 17, 2018, 07:28:40 am »
Mothercare closing 50 stores and renegotiated rent on 21 others - http://www.bbc.co.uk/news/business-44148937

House of Fraser will be next and not far behind, Debenhams.

Full steam ahead with the decline of shops.

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Re: Carillion scrambles to stay afloat
« Reply #125 on: May 17, 2018, 08:49:16 am »
House of Fraser will be next and not far behind, Debenhams.

Full steam ahead with the decline of shops.

I worked in retail up until 2006, you could see this scenario coming a mile away.

All the managers kept trying to motivate us to hit our targets, but we were all thinking, if we're buying our goods online due to the price, then everyone else will surely do the same.

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Re: Carillion scrambles to stay afloat
« Reply #126 on: May 18, 2018, 06:40:38 pm »
Amazon needs to be curtailed. This needs to happen now. First, it needs to be broken up - it is operating in too many industries. It can use its combined wealth to wipe out the competition in any new industry it chooses to operate. Second, it should be prevented from being manufacturer AND retailer AND agent ('fulfilled by Amazon'). Why no one in government in the UK and US is a mystery to me (well, not a huge mystery - the politicians are spineless and useless).

I always liked House of Fraser. The number of big retailers going under is very worrying. Many of them will be sorely missed. It is one thing for retail to move more to online away from the high street, but most of these are gradually going under (not changing their mode of operation). There is no effective competition to Amazon.
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Re: Carillion scrambles to stay afloat
« Reply #127 on: May 18, 2018, 08:43:01 pm »
How can the uk government break up an American company?

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Re: Carillion scrambles to stay afloat
« Reply #128 on: May 18, 2018, 11:42:22 pm »
How can the uk government break up an American company?

Not only that but Amazon is a market place. So many privately owned, small, businesses operate on there (and eBay) as a marketplace. They aren't this big bad company as much as some like to make out. I mean yeah, there are things they should be forced to do properly, such as pay their taxes, but break them up to save the high street which is failing due to partly their own issues and partly the greed of their landlords and local councils? Nah.

Offline Jiminy Cricket

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Re: Carillion scrambles to stay afloat
« Reply #129 on: May 19, 2018, 07:06:13 am »
How can the uk government break up an American company?
It can break up its operations in the UK. They can be barred from operating across many sectors. But, of course, the main responsibility does lie with the US government. Monopolies have been broken up before. This is an even greater problem than say, AT&T.
Not only that but Amazon is a market place. So many privately owned, small, businesses operate on there (and eBay) as a marketplace. They aren't this big bad company as much as some like to make out. I mean yeah, there are things they should be forced to do properly, such as pay their taxes, but break them up to save the high street which is failing due to partly their own issues and partly the greed of their landlords and local councils? Nah.
Amazon is operating almost as a monopoly in many areas. It is a very dangerous situation and should be stopped before they become a mega-monopoly, operating almost without competition across many sectors. The problem is not only that they are massively powerful across many important sectors, but that they also take a share of the little guy's action (market place / fulfilled by amazon) - it is not the plus as you seem to think. So, if that was stopped, you can bet that other 'market place' avenues would open up for small sellers (of course, they already exist / have existed, but they are strangled by Amazon).

Huge companies like this always look great when they are assenting and cutting prices paid by the end customer, but this takes no account of how others involved in the production of goods are squeezed. Additionally, once the competition is fully driven away, prices start to sky rocket, and innovation will slow. This always happens with monopolies.

It is inevitable that (without regulation or other barriers) for a single company to become dominant within a given market. The demise of the high street might be inevitable, but to blame brick and mortar retailers for Amazon's dominance is ridiculous. If not Amazon, another company would dominate if there are insufficient barriers to prevent this. I am no economist, but this basic principle stuff.
« Last Edit: June 9, 2018, 12:21:35 am by Jiminy Cricket »
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Re: Carillion scrambles to stay afloat
« Reply #130 on: May 21, 2018, 09:47:11 pm »

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Re: Carillion scrambles to stay afloat
« Reply #131 on: May 22, 2018, 10:13:22 am »
M&S to close 100 stores by 2022... http://www.bbc.co.uk/news/business-44197128

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Re: Carillion scrambles to stay afloat
« Reply #132 on: May 22, 2018, 11:02:36 am »
M&S to close 100 stores by 2022... http://www.bbc.co.uk/news/business-44197128

I work for a retailer and we can see this coming to us soon. RIP the high street.

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Re: Carillion scrambles to stay afloat
« Reply #133 on: May 22, 2018, 04:35:21 pm »
Tesco Direct closure puts 500 jobs at risk

http://www.bbc.co.uk/news/business-44211616

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Re: Carillion scrambles to stay afloat
« Reply #134 on: May 25, 2018, 07:22:02 am »
Homebase now, sold for a quid to same restructuring firm that bought HMV.

http://www.bbc.co.uk/news/business-44248409

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Re: Carillion scrambles to stay afloat
« Reply #135 on: May 29, 2018, 09:52:16 am »
Carphone Warehouse shutting 92 of its approx 700 stores

http://www.bbc.co.uk/news/business-44286924

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Re: Carillion scrambles to stay afloat
« Reply #136 on: May 29, 2018, 10:15:58 am »
Not to worry, Amazon will hoover up all their customers.  The tax dodging parasites.

Speaking of tax dodging and wealth syphoning, the UK is number one  :thumbup

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Re: Carillion scrambles to stay afloat
« Reply #137 on: May 29, 2018, 02:28:47 pm »
Carphone Warehouse shutting 92 of its approx 700 stores

http://www.bbc.co.uk/news/business-44286924

Quote
Dixons said no jobs would be lost as a result of the store closures.

How can you close 92 stores without losing even a single job? Not everyone can be and/or will want to be redeployed, surely?

Offline stewil007

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Re: Carillion scrambles to stay afloat
« Reply #138 on: May 29, 2018, 02:44:59 pm »
Jobs may be created elsewhere within the group, so it could be job-loss neutral......

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Re: Carillion scrambles to stay afloat
« Reply #139 on: May 29, 2018, 03:34:32 pm »
How can you close 92 stores without losing even a single job? Not everyone can be and/or will want to be redeployed, surely?

I think that normally means they will be offered jobs elsewhere - it's owned by the Dixons/Currys/PC World Group so no doubt plenty of opportunities to do so and means they are making no redundancies. In reality though I imagine it's likely some will be unable to take up the offer (travel, etc) so there will no doubt be some job losses.

Offline ShakaHislop

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Re: Carillion scrambles to stay afloat
« Reply #140 on: May 31, 2018, 03:45:40 pm »
Carluccio's rescue plan could close 30 restaurants

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That means almost one in three Carluccio's restaurants could close their doors.

http://www.bbc.co.uk/news/business-44315826

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Re: Carillion scrambles to stay afloat
« Reply #141 on: June 1, 2018, 01:02:49 pm »
Smethwick hospital: Carillion delays to cost eight figures

Delays on a hospital build following the collapse of Carillion will cost eight figures, a health trust boss said.

Work on the Midland Metropolitan in Smethwick came to a halt in January when the contractor went bankrupt.

Hospital trust boss, Toby Lewis said exposure to the elements means some sections could require "rework".

In March, a scheme to transfer the build to a new contractor also stalled and is unlikely to go ahead, he added.

In a report to Sandwell Council, the chief executive of Sandwell and West Birmingham Hospitals NHS Trust, which is behind the new hospital, claimed if the building is not weather-proofed by winter, costs will rise further.

The trust has said the hospital will not open before 2022 at the earliest, at least four years later than planned.

Mr Lewis said: "We need to get people on the site, reducing the deteriorating of the site with the weather and preventing us having to rebuild parts of the two-thirds built hospital.

"We need to agree with government and others how best we can do that."

The exact cost of the work needed is not yet know, but Mr Lewis said it "will be in eight figures."

Earlier this year, it was reported that the collapse of Carillion could see the cost of building the hospital rise.

The Wolverhampton-based firm won a £75m contract for the 670-bed hospital in December 2015.

Once complete, the Midland Metropolitan will replace some services from Sandwell Hospital and City Hospital in Birmingham.

The report will be discussed by Sandwell councillors at a meeting on 7 June.

It comes as the official receiver revealed 29 former Carillion workers had been made redundant and would leave this week, bringing total job losses to 2,332.

http://www.bbc.co.uk/news/uk-england-birmingham-44328911

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Re: Carillion scrambles to stay afloat
« Reply #142 on: June 3, 2018, 03:30:11 pm »
I think that normally means they will be offered jobs elsewhere - it's owned by the Dixons/Currys/PC World Group so no doubt plenty of opportunities to do so and means they are making no redundancies. In reality though I imagine it's likely some will be unable to take up the offer (travel, etc) so there will no doubt be some job losses.

It usually means the people who worked there were on temporary or zero hours contracts. A temporary position not being refilled isn't classed as a job loss in much the same way as someone not getting any hours on a zero hours contract is not a job loss.
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Re: Carillion scrambles to stay afloat
« Reply #143 on: June 7, 2018, 09:05:55 am »
Upto 6000 job losses at house of Fraser by next year.

The high street is doomed.
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Re: Carillion scrambles to stay afloat
« Reply #144 on: June 7, 2018, 09:06:04 am »
House of Fraser to close 31 of its 59 stores, including its flagship Oxford Street store.

https://www.bbc.co.uk/news/business-44394948

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Re: Carillion scrambles to stay afloat
« Reply #145 on: June 7, 2018, 09:07:17 am »
Upto 6000 job losses at house of Fraser by next year.

The high street is doomed.

Yep. There will be a high street but it will be a huge Amazon warehouse with some coffee shops dotted around it.

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Re: Carillion scrambles to stay afloat
« Reply #146 on: June 7, 2018, 09:10:21 am »
Yep. There will be a high street but it will be a huge Amazon warehouse with some coffee shops dotted around it.
and £10 a month gyms

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Re: Carillion scrambles to stay afloat
« Reply #147 on: June 7, 2018, 12:20:54 pm »
Poundworld on brink of bringing administrators in - 355 stores / 5,300 workers.

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Re: Carillion scrambles to stay afloat
« Reply #148 on: June 11, 2018, 09:29:57 am »
Poundworld on brink of bringing administrators in - 355 stores / 5,300 workers.

And it's gone.

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Re: Carillion scrambles to stay afloat
« Reply #149 on: July 9, 2018, 08:00:00 am »
Mothercare now closing 60 stores rather than previously mentioned 50.

https://www.bbc.co.uk/news/business-44763080

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Re: Carillion scrambles to stay afloat
« Reply #150 on: July 18, 2018, 12:12:40 pm »
Gaucho restaurant chain collapses

Quote
About 1,500 jobs are at risk after the Gaucho restaurant chain said it intended to appoint administrators.

Advisors to the business had been trying to find a buyer for the 16 restaurants and its sister chain, Cau.

However, high debt levels and a complex legal structure meant it had been unable to find an "agreed, solvent solution", a spokesperson said.

The "ongoing underperformance" of Cau, which has been under threat since May, had also been an issue, the firm said.

https://www.bbc.co.uk/news/business-44870789

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Re: Carillion scrambles to stay afloat
« Reply #151 on: July 18, 2018, 12:35:42 pm »
Gaucho restaurant chain collapses

https://www.bbc.co.uk/news/business-44870789
massively overpriced steaks, meet Argentina do far better fillets for much less. Nice cheesecakes they do though, Dulce de Leche is fantastic

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Re: Carillion scrambles to stay afloat
« Reply #152 on: July 19, 2018, 05:53:49 pm »
Poundworld on brink of bringing administrators in - 355 stores / 5,300 workers.

190 of the stores had remained open but the whole lot has gone now. 5,100 workers across 355 stores plus a further 299 at the head office.

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Re: Carillion scrambles to stay afloat
« Reply #153 on: July 26, 2018, 02:22:30 pm »
massively overpriced steaks,

Not been for a fair few years (not since discount vouchers for them seemed to dry up), but I found their steaks utterly amazing.

We took a couple of friends once for a thank-you after they'd helped us out on something and, when we got the bill, there were 4 drinks on that we hadn't ordered. The waiter apologised and went off to amend it. When he came back, all of the drinks (including 3 bottles of red) had been taken off. About £120's worth). I wasn't sure if they were just stupidly generous with making amends for fucking up, or it was a mistake; either way, I wasn't going to question it and quickly paid (and left the biggest tip I'd ever left)

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Re: Carillion scrambles to stay afloat
« Reply #154 on: July 26, 2018, 02:23:56 pm »
If I got £120 worth of wine for free they’d be the best steaks ever!!!

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Re: Carillion scrambles to stay afloat
« Reply #155 on: August 1, 2018, 07:10:28 pm »
House of Fraser in more shit with the Chinese investor pulling out.

https://www.bbc.co.uk/news/business-45031987

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Re: Carillion scrambles to stay afloat
« Reply #156 on: August 1, 2018, 07:46:32 pm »
House of Fraser in more shit with the Chinese investor pulling out.

https://www.bbc.co.uk/news/business-45031987

More to come in regards to big chains going under. The high street is on its last legs.

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Re: Carillion scrambles to stay afloat
« Reply #157 on: August 1, 2018, 07:55:59 pm »
More to come in regards to big chains going under. The high street is on its last legs.
no badly run businesses are, ie those that haven’t adapted to multichannel

On the plus side should be some good sales there!

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Re: Carillion scrambles to stay afloat
« Reply #158 on: August 1, 2018, 09:19:17 pm »
no badly run businesses are, ie those that haven’t adapted to multichannel

On the plus side should be some good sales there!

They are not all badly run. The vast majority of the high street is struggling. If the likes of John Lewis, M&S and Next are having issues, then everyone will.

The future (and present) is all Amazon anyway. Soon thats all there will be.

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Re: Carillion scrambles to stay afloat
« Reply #159 on: August 2, 2018, 09:38:56 am »
They are not all badly run. The vast majority of the high street is struggling. If the likes of John Lewis, M&S and Next are having issues, then everyone will.

All 3 of those companies have been at the receiving end of some poor management decisions over the years.

Of course they're all also massive hit by be general decline of the high street, which to a large degree is out of their control and the blame for that can be put elsewhere (Govt, local councils, private landlords).