Debenhams first major retail victim.



yamar1 said:
High st retail needs to change big time once this is over, i dont know the answers as it won't be easy, but things cannot carry on like this, their will be nowt left in a few years.
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It’ll change all right. There won’t be a high street any more is my prediction.
 
Ashley blew his wad during the first admin, his shareholding was wiped out along with every other ordinary holder. He's got his hands full with the shitshow of a portfolio he's acquired elsewhere.
 
Cath Kidston too. This could decimate the way we shop forever, feel sorry those staff too.
 
Sima said:
The board at Debenhams are already on record as saying they'd rather go into administration than let him and his bootcut jeans take control.
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Then they have all of those jobs on their conscience. Acting like that makes them no better than him.
 
daventry cat said:
2nd admin in a year and they missed a payment to their pension n'all
Arcadia group also facing a winding up order and WHSmiths going cap in hand to investors
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There`s been a few solicitors, surveyors, accountants firms who have asked partners to inject capital into the business. This is the downside to being made a partner. Most people think that the have reached the pinnacle of their career at this point and get a nice piece of profit share BUT there`s always a risk that in hard times such as this and during a recession, that they will come asking for money. So many people are going to get hit by this.
 
Botchie said:
Then they have all of those jobs on their conscience. Acting like that makes them no better than him.
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Forgot Ashley was the 'saviour of the high street', like. You'll have to ask the 6,000 employees of House of Fraser he cut mid-2018 for their opinion too see if it matches yours. He'd have cut this 20,000 workforce down long ago if he was in charge, blaming 'greedy landlords' in the process.

Just over a week since he thought he was above government guidelines and he's now on a level playing field with a group that doesn't want to deal with him and willingly closed their stores despite what has transpired since.
 
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Sima said:
The board at Debenhams are already on record as saying they'd rather go into administration than let him and his bootcut jeans take control.
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Aye how’s that working out for them?
Could well be fat mike is the only game in town to save some of the jobs and shops, like him or loathe him
 
Boz33 said:
Aye how’s that working out for them?
Could well be fat mike is the only game in town to save some of the jobs and shops, like him or loathe him
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How is it working out for House of Fraser? Despite him ignoring £500m worth of debt which a fair chunk will have been tied up in stock that was sitting in store.
 
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Sima said:
How is it working out for House of Fraser? Despite him pocketing near enough £500m worth of stock.
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Still open isn’t it?
Be daft man who bought it and ran it the exact same way that put it onto its knees in the first place.
I’m no fan of Ashley but jobs are jobs, if he’s the only one interested and he saves some jobs so be it.
Letting your hatred of the bloke cloud your mind there like
 
Boz33 said:
Still open isn’t it?
Be daft man who bought it and ran it the exact same way that put it onto its knees in the first place.
I’m no fan of Ashley but jobs are jobs, if he’s the only one interested and he saves some jobs so be it.
Letting your hatred of the bloke cloud your mind there like
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Only by cutting it's store count.

Yes jobs are jobs but let's not be under the impression he'll save all 20,000 as there's a raft of evidence to back that up and the bloke is an utter shitweasel. His behaviour over the lockdown has cemented that.

Maybe there is some bias on my part (there's more actual evidence to back it up outside of Newcastle) but it's equally if not more reciprocated on here by those that give him a free ride and admire him due to his administration of Newcastle United. That's not you of course as I remember your opinion of him in the past.
 
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Boz33 said:
Still open isn’t it?
Be daft man who bought it and ran it the exact same way that put it onto its knees in the first place.
I’m no fan of Ashley but jobs are jobs, if he’s the only one interested and he saves some jobs so be it.
Letting your hatred of the bloke cloud your mind there like
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He’s proved time and time again just what a **** he is, good enough for me to hate like.
 
Sima said:
Only by cutting it's store count.

Yes jobs are jobs but let's not be under the impression he'll save all 20,000 as there's a raft of evidence to back that up and the bloke is an utter shitweasel. His behaviour over the lockdown has cemented that.

Maybe there is some bias on my part (there's more actual evidence to back it up outside of Newcastle) but it's equally if not more reciprocated on here by those that give him a free ride and admire him due to his administration of Newcastle United. That's not you of course as I remember your opinion of him in the past.
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It’s apparent the physical retail sector is on its arse both before and after corona.
What’s the alternative for Debenhams? Chuck all the employees on the dole or save what jobs and sites they can even under fat mikes stewardship.
I don’t see any others coming forward to take these companies on?

So which would you prefer, save some of the jobs or stick all 20k shop employees on the dole in what will be a massive recession coming our way?
 
They may have survived for longer if almost everything they sold wasn't shite.

You could go back in time ten years and the shop concessions and their choice of clothing would be exactly the same bar a few additions recently.
 
worrying times for all those whose lives'll be thrown into tumult mate, debenhams could be the first of many as the whole industry comes crashing down
 

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