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Arcadia goes into administration
Comments
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Surely people will begin to wake up to the injustice of Greeny sailing away on his yacht whilst his former employees apply for Universal Credit and line up at the foodbank?7
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Green was knighted in 2006 by Laboursoapboxsam said:Philip Green is an arsehole who exploits every loophole going. Selling Bhs for £1 to Chappell the serial bankrupt who is now banged up in prison for not paying a 484k tax bill. Fat Phil is "penniless" as the business is in his wife's name despite spending millions on every birthday in the last 20 years flying in Brown nosing Friends to places in the sun. Green's 60's birthday cost 6 million pound 8 years ago
A large chunk of that money came from a £1.2bn dividend in 2005, the biggest in British corporate history. No tax was paid on the dividend paid to Tina Green because of her base in tax-free Monaco.
We are suppose to believe Tina Green is down to her last 950 million. Well sell your effing two super yachts and your jet if you want to be billionaires again.
A black hole no doubt exists in Arcadia pensions. Green must've Learnt those tricks from Robert Maxwell.
Arcadia staff pay more personal income tax in the UK that Green. Not for much longer though as some will be selling the big issue.
A scandal that a guy who donates to the Conservatives can get a knighthood despite paying no or very little personal income tax to the UK. I slagged off the Labour party when they do the same for their rich benefactors. Harold Wilson back in the 60's gave honours to his friend and business associates.
Demise of the high street is a separate issue and was always going to happen because of greedy landlords, high parking fees, and on line shopping. COVID-19 is just kicking a man when he is already on the floor as far as the high street businesses are concerned.9 -
Independents won't fill the shopping centres and high streets. They don't have the scale to compete against the major chains or internet for most everyday products, and there's a limit to the number of handicraft shops and cafes that a town needsSantaClaus said:I prefer shopping on high streets without too many chain stores (somewhere like Bromley Glades is my idea of hell). Hopefully when the dust settles all these units can be filled by independents who can offer a less soul destroying retail experience.0 -
killerandflash said:
Green was knighted in 2006 by Laboursoapboxsam said:Philip Green is an arsehole who exploits every loophole going. Selling Bhs for £1 to Chappell the serial bankrupt who is now banged up in prison for not paying a 484k tax bill. Fat Phil is "penniless" as the business is in his wife's name despite spending millions on every birthday in the last 20 years flying in Brown nosing Friends to places in the sun. Green's 60's birthday cost 6 million pound 8 years ago
A large chunk of that money came from a £1.2bn dividend in 2005, the biggest in British corporate history. No tax was paid on the dividend paid to Tina Green because of her base in tax-free Monaco.
We are suppose to believe Tina Green is down to her last 950 million. Well sell your effing two super yachts and your jet if you want to be billionaires again.
A black hole no doubt exists in Arcadia pensions. Green must've Learnt those tricks from Robert Maxwell.
Arcadia staff pay more personal income tax in the UK that Green. Not for much longer though as some will be selling the big issue.
A scandal that a guy who donates to the Conservatives can get a knighthood despite paying no or very little personal income tax to the UK. I slagged off the Labour party when they do the same for their rich benefactors. Harold Wilson back in the 60's gave honours to his friend and business associates.
Demise of the high street is a separate issue and was always going to happen because of greedy landlords, high parking fees, and on line shopping. COVID-19 is just kicking a man when he is already on the floor as far as the high street businesses are concerned.
That is why I slagged off the Labour party as well for giving out honours and knighthoods. Green did get his Knighthood under Blair who was PM in 2006.
Blair was a career politician who smiled his way to the top after the untimely death of John Smith and gazumping the dour Gordon Brown.1 -
Will they? People don't give a shit about the grift that's going on in front of their very eyes on a daily basis in government. They'll be content to lap up the latest video of a dog licking it's own balls on their smartphones, just like they always are.Saga Lout said:Surely people will begin to wake up to the injustice of Greeny sailing away on his yacht whilst his former employees apply for Universal Credit and line up at the foodbank?4 -
Sadly, I fear you may be right.Leroy Ambrose said:
Will they? People don't give a shit about the grift that's going on in front of their very eyes on a daily basis in government. They'll be content to lap up the latest video of a dog licking it's own balls on their smartphones, just like they always are.Saga Lout said:Surely people will begin to wake up to the injustice of Greeny sailing away on his yacht whilst his former employees apply for Universal Credit and line up at the foodbank?0 -
I think now’s the time to consider setting up a business manufacturing and selling hallucinogenic drugs because being off our tits in another dimension is the only way we’re going to be able to get through the next couple of years.8
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AddickUpNorth said:I think now’s the time to consider setting up a business manufacturing and selling hallucinogenic drugs because being off our tits in another dimension is the only way we’re going to be able to get through the next couple of years.
Blimey AUN,
I can see you would've a Captive clientele if that was your sideline !3 -
Happy to assist in the R&D department....AddickUpNorth said:I think now’s the time to consider setting up a business manufacturing and selling hallucinogenic drugs because being off our tits in another dimension is the only way we’re going to be able to get through the next couple of years.6 -
Was in deep trouble before the 'virus' and has now sunk into the deep .. a business which has had little investment in the past few years and has been bled dry by its owners, the odious Green family .. fashion is a fickle business and tastes change very quickly .. no real push into online trading .. a knock on will affect Debenhams, another old school store group still based on huge high street shops .. Debenhams has many Arcadia brands paying rent for in-house concession space, no-one now will want to buy a shell of a business .. a REALLY bad time for the 13,000 Arcadia staff and thousands more who work at Debenhams and other struggling chain stores that specialise in mid range/cheap as chips clothing and 'fashion' items
Covid 19 has had a massive impact on UK society, let's hope that the much publicised vaccines can start to reverse the horrible impact, BUT it will be too late for many businesses and the associated employment prospects3 - Sponsored links:
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When do you start trials, need volunteers??AddickUpNorth said:I think now’s the time to consider setting up a business manufacturing and selling hallucinogenic drugs because being off our tits in another dimension is the only way we’re going to be able to get through the next couple of years.3 -
Hahahahahha. Classic little fella. Who’s a good boy? Luved it.Leroy Ambrose said:
Will they? People don't give a shit about the grift that's going on in front of their very eyes on a daily basis in government. They'll be content to lap up the latest video of a dog licking it's own balls on their smartphones, just like they always are.Saga Lout said:Surely people will begin to wake up to the injustice of Greeny sailing away on his yacht whilst his former employees apply for Universal Credit and line up at the foodbank?3 -
You’re partially right when you say no real push into online.Lincsaddick said:Was in deep trouble before the 'virus' and has now sunk into the deep .. a business which has had little investment in the past few years and has been bled dry by its owners, the odious Green family .. fashion is a fickle business and tastes change very quickly .. no real push into online trading .. a knock on will affect Debenhams, another old school store group still based on huge high street shops .. Debenhams has many Arcadia brands paying rent for in-house concession space, no-one now will want to buy a shell of a business .. a REALLY bad time for the 13,000 Arcadia staff and thousands more who work at Debenhams and other struggling chain stores that specialise in mid range/cheap as chips clothing and 'fashion' items
Covid 19 has had a massive impact on UK society, let's hope that the much publicised vaccines can start to reverse the horrible impact, BUT it will be too late for many businesses and the associated employment prospects
I personally moved Topshop internet operations from the 214 Flagship to an outsourced DC solution in 1999/2000. So Arcadia WERE in fact a very early adopter from bricks and mortar to clicks. BUT in the next 8 years I was there it was never seen as what it was so obviously going to become. It worked but as a revenue stream on the main p and l it was dwarfed by the brands. So it didn’t get the focus.The amount of shit I had to knock back in my time there. My own personal favourite being that the powers that be wanted to charge customers for returns, postage and processing. As returns were about 33%. I had to argue til I won that all you needed to do was alienate 1 or 2 % of the customer base and you’ve lost what you’ve gained and damaged the brand. They only saw p and l4 -
Estate Agents and Charity shops.hoof_it_up_to_benty said:The pandemnic will finish off most of the high street bar the supermarkets. Amazon will eventually takeover the world and presumably pay next to no tax.
What will happen to all the retail space?
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Until this week, even all our football has been online.golfaddick said:
I wont be crying when your industry is the next one to be on the scrap heap then.EastTerrace said:Like the black cab, high street shops are a thing of the past.... who cares.
Since I started work in 1983 I've seen coal miners, steelworkers & car manufacturers, (just to name a few) go to the wall. In the last decade in been the turn of the high street retailers, with big names like Woolworths, HMV & BHS. No-one it seems is immune. God knows what the high street will look like in another 10 years. All fast food outlets & bookies perhaps.
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A very good article in the Sunday Times about Philip Green. He's very anti-technology, which is one of the reasons Arcadia's internet presence has lagged behind so badlyGreenhithe said:
You’re partially right when you say no real push into online.Lincsaddick said:Was in deep trouble before the 'virus' and has now sunk into the deep .. a business which has had little investment in the past few years and has been bled dry by its owners, the odious Green family .. fashion is a fickle business and tastes change very quickly .. no real push into online trading .. a knock on will affect Debenhams, another old school store group still based on huge high street shops .. Debenhams has many Arcadia brands paying rent for in-house concession space, no-one now will want to buy a shell of a business .. a REALLY bad time for the 13,000 Arcadia staff and thousands more who work at Debenhams and other struggling chain stores that specialise in mid range/cheap as chips clothing and 'fashion' items
Covid 19 has had a massive impact on UK society, let's hope that the much publicised vaccines can start to reverse the horrible impact, BUT it will be too late for many businesses and the associated employment prospects
I personally moved Topshop internet operations from the 214 Flagship to an outsourced DC solution in 1999/2000. So Arcadia WERE in fact a very early adopter from bricks and mortar to clicks. BUT in the next 8 years I was there it was never seen as what it was so obviously going to become. It worked but as a revenue stream on the main p and l it was dwarfed by the brands. So it didn’t get the focus.The amount of shit I had to knock back in my time there. My own personal favourite being that the powers that be wanted to charge customers for returns, postage and processing. As returns were about 33%. I had to argue til I won that all you needed to do was alienate 1 or 2 % of the customer base and you’ve lost what you’ve gained and damaged the brand. They only saw p and l
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Debenhams were on the brink for the last year or so and have been discounting goods for years to try and raise cash.
I warned my wife ages ago not to buy anything from there that may need returning/refunding etc etc.
Even online purchases that may not be received if they went bust the day of/after the order.0 -
Lots of residential conversion, I'd think. Much less demand for office space and retail post covid.Oggy Red said:
Estate Agents and Charity shops.hoof_it_up_to_benty said:The pandemnic will finish off most of the high street bar the supermarkets. Amazon will eventually takeover the world and presumably pay next to no tax.
What will happen to all the retail space?
Would have happened anyway. But covid has accelerated it by several years.1 -
Mr Byrite !!!Boom said:
Where you going to shop now - Back to Mr Byrite?Off_it said:
And still wearing some of those threads you got with a staff discount now, I believe?RodneyCharltonTrotta said:Worked in the Bromley one in late 90s when it was on the other side of the walk.
Shame.
Hopefully it can be sorted out.
Blimey takes me back to early 70s, used to buy stuff out of there. 
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Nail bars, hair dressers and Turkish barbersOggy Red said:
Estate Agents and Charity shops.hoof_it_up_to_benty said:The pandemnic will finish off most of the high street bar the supermarkets. Amazon will eventually takeover the world and presumably pay next to no tax.
What will happen to all the retail space?0 - Sponsored links:
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They sold some real crap...charltonbob said:
Mr Byrite !!!Boom said:
Where you going to shop now - Back to Mr Byrite?Off_it said:
And still wearing some of those threads you got with a staff discount now, I believe?RodneyCharltonTrotta said:Worked in the Bromley one in late 90s when it was on the other side of the walk.
Shame.
Hopefully it can be sorted out. Blimey takes me back to early 70s, used to buy stuff out of there. 0 -
I think Oxford Street will rebound but maybe with things like show stores for Tesla thrown in the mix. It is too iconic a road and if anything approaching normality returns and footfall there comes back there will be a demand. The rents have already plummeted and turnover based rents are becoming more common place so landlords will be closer partners with the businesses occupying the spaces.suzisausage said:I fear what Oxford Street will look like in a few years with large department stores converted into hotels or flats? any small independent stores will struggle to pay the rents on these huge sites. more flashing 'bargain' stores selling 3 for 2 pashmina's, phone covers and perfume hot off the back of a lorry?
Perhaps we'll see a JV between small independents to create a one stop shop in one venue is the short term answer? like an indoor market almost like concessions? The surge of street food markets has shown there is an appetite for independent flavours instead of the main take away options. It would be like walking round Etsy? not necessarily an indoor clothes market, more craft stuff?
I guess you'd need someone like the mean man that owns box park to rent the space, and invite small retailers to rent units from him?
The myriad and naff, tired, middling sized shopping centres, like The Glades in Bromley are a different matter though, and as in the case of The Walnuts in Orpington many will be sold to developers to reposition (usually slang for knock down and build resi).1 -
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There will be a constant stream now sadly...0
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I fear you are right.hoof_it_up_to_benty said:There will be a constant stream now sadly...0 -
I probably bought some real crap but didn't think so at the time, do remember a couple of great tank topshoof_it_up_to_benty said:
They sold some real crap...charltonbob said:
Mr Byrite !!!Boom said:
Where you going to shop now - Back to Mr Byrite?Off_it said:
And still wearing some of those threads you got with a staff discount now, I believe?RodneyCharltonTrotta said:Worked in the Bromley one in late 90s when it was on the other side of the walk.
Shame.
Hopefully it can be sorted out. Blimey takes me back to early 70s, used to buy stuff out of there. 0 -
I used to love tank tops as a kid..😁charltonbob said:
I probably bought some real crap but didn't think so at the time, do remember a couple of great tank topshoof_it_up_to_benty said:
They sold some real crap...charltonbob said:
Mr Byrite !!!Boom said:
Where you going to shop now - Back to Mr Byrite?Off_it said:
And still wearing some of those threads you got with a staff discount now, I believe?RodneyCharltonTrotta said:Worked in the Bromley one in late 90s when it was on the other side of the walk.
Shame.
Hopefully it can be sorted out. Blimey takes me back to early 70s, used to buy stuff out of there. 0 -
my late aunt was a big 'fan' of Bon Marche .. good quality and well designed clothing aimed mostly at the 'older lady' .. online is convenient, BUT of course you can't 'touch the quality and feel the width' until the parcel arrives via courierRob7Lee said:0 -
All of these closures and the ones to come will cause massive issues for our town centers unless Local Councils and planners start to think outside the box. The chances of another business taking on the properties left empty across the Country by the demise of companies like Debenhams are very slim. We need to start thinking about how these sites can be utilised and turned into a mix of residential and commercial uses. Who knows it might be the chance to re invent our town centers and get people back living in them1
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Is it just the management of Debenhams that's at fault?
Mike Ashley was keen to buy them and he's also got House of Fraser so he must think there's a future for the High Street.
How are Primark doing? They don't have online shopping and relying footfall. Is their business plan better?1
