Debenhams goes into Administration

[iansheff]

Well another big chain  going into administration with 50 of their 165 stores expected to close. Got to feel sorry for all those people that are going to find themselves out of a job.

 

https://www.mirror.co.uk/money/breaking-debenhams-enters-administration-50-14268573

Edited April 9, 2019 by iansheff

[geared]

Can't help thinking this was down to the power struggle between the directors and Mike Ashley, going into administration this way has wiped out his stake in the company.

[*Wallace*]

I don’t think there’s anyway back for the high street for all sorts of reasons,it’s dead but no ones told it. 

[Mister M]

3 hours ago, *Wallace* said:

I don’t think there’s anyway back for the high street for all sorts of reasons,it’s dead but no ones told it. 

It is very sad....However I don't think it's the total end. Shopping centres in places like Sheffield  might have to have fewer shops, but a wider range of non retail aspects to them. This is happening now of course with more student accommodation in the centre. Also the addition of the National Video Game museum is a welcome addition, but apart from its opening there hasn't been much fanfare about this of late....

[the_bloke]

Rumour is that the store on the Moor has a yearly rent in the region of £2m. The good news is that the store is performing far better than 12 months ago, and better than most of the stores in the region - the regeneration of the Moor has been positive. So fingers crossed it won't be one of these 50 that get closed as whatever you think of the store, no one should be losing their job because of management politicking.

[ANGELFIRE1]

4 hours ago, *Wallace* said:

I don’t think there’s anyway back for the high street for all sorts of reasons,it’s dead but no ones told it. 

I think the main reason is the internet, high rents are another nail in the coffin. Maybe peoples shopping habits have changed and Debenhams has not changed with them.

 

Angel1.

[ez8004]

It’s not surprising. The shops that have managed to thrive are the ones with a very good internet presence and online store such as John Lewis. M&S are in trouble but they have bought half of Ocado so obviously have a plan. 

 

 

[tzijlstra]

Debenhams have been ripping concessions off for years and years and that was basically the business plan. No innovation, no embracing the future, so due to take a hit, but it will be the concessionaries that suffer most I'd say.

[Guest]

Not surprised- could see it coming.

 

High streets no longer have the pull and people tend to go to retail parks- mainly to make it a day out as well as pick up some goodies.

Parking is free, plenty of places to eat and meet friends etc remains an attraction.

 

Whereas the high street/town areas are congested, parking fees, same pattern of stores and mostly offering nothing new.

[Cyclone]

55 minutes ago, Mr Fisk said:

Not surprised- could see it coming.

 

High streets no longer have the pull and people tend to go to retail parks- mainly to make it a day out as well as pick up some goodies.

Parking is free, plenty of places to eat and meet friends etc remains an attraction.

 

Whereas the high street/town areas are congested, parking fees, same pattern of stores and mostly offering nothing new.

Debenhams operates in retail outlets as well, the Meadowhall store is larger than the one on the moor.