Looks Like Ttt Has Killed Off The Jokes...
ChatterBank4 mins ago
Looks like WHSimth are in talks to quit the high street, not really a suprise its been on the wobble for some time. But I guess KS government will take the blame? so whos going to throw the first punch at labour?
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Sp1814 asked about which High Street companies were likely to fold, way back in 2016. My list at that time was as follows:
HMV
Mothercare
W H Smith
Debenhams
Carpetright
Little Chef
Clarks Shoes
(Looking at that list, I don't seem to score too badly as a business analyst, it seems!)
Prudie and New Judge also mentioned W H Smith, so it's hardly news that their High Street stores (rather than their travel outlets) are struggling.
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It's hard to see how any other business owner can make much money from operating the former W H Smith stores using a similar business model. So it might be hard for WHS to find a buyer. (If I was a potential purchaser though, I might consider switching the model to something closer to that used by Waterstones, concentrating on book sales and possibly including coffee shops within the stores).
Clarks is still thriving and HMV is enoying a renaissance.
Debenhams was the shocker for me and I'm disgusted that the name has been bought by a company that has very little understanding of the Trades Descriptions Act and is frankly, rogue.
Shopping habits have changed but I don't think the internet is entirely to blame. My local home brew has been in business for 30+ years but has grown beyond all expectation because that embraced distance selling.
I remember reading somewhere sometime back, a business man, or woman cant remember, saying that the problem with higher managment in most companies haven't a glue how to generate increase profit / growth, but on a yearly basis they are expected to do so.
What do they do? Take the easy option, reduce staff and pile thd extra work load onto the remaining staff. This gives them an instant uplift in profit with the stroke of a pen, their job is now safe until next year.
My local Debenhams when sold changed to House of Fraser, its changed again some months back too Fraser's, and thats just the ground floor, the upper floor is now Sports Direct. You really cant work out who owns or runs what anywhere now. What I do see is that this building regardless, is still struggling to attract customers, god knows how they cover the overheads?
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