Debenhams Is 'Winding Down Its Operations'

[bassett one]

with scc paying for john lewis re-furb,think that wont work,debenhams closing ,lots of empty shops,even meadowhall not getting bigger with shops,online the way forward,but need to get them to pay taxes,then shops can compete.this wont help sheffield in any way.

[geared]

4 hours ago, Baron99 said:

Well Sports Direct's Mike Ashley has dropped his bid for Debenham's, not wanting to pay £300 million for the business but there are still a number of other interested parties, including M&S, interested in taking some store sites but it does look as though the business & name will soon be gone. 

https://www.retailgazette.co.uk/blog/2020/11/mike-ashley-drops-out-of-debenhams-sale/

 

 

I bet he's feeling pretty smug right now.

Was so publicly snubbed when he did want to save the business, just a few months later it collapses.

[Bargepole23]

4 hours ago, PRESLEY said:

 Its a shame,  I think it was the best we had in Sheffield for Quality at decent prices, better than jumped up and over priced  John Lewis, they should have name that store Dick Turpins,  infact,  no that wouldn't be right,  Dick Turpin had the decency to wear a mask,  ( the oldens are the best)  

Why do you think John Lewis is "jumped up and overpriced"?

 

Debenhams used to be far better that its current poor state. I recall an extensive cook and kitchenware department and bedroom department on the top floor. Last time I went in, the whole offering was unappealing.

[Baron99]

Up to 8 shops predicted to disappear in this area?

 

https://www.thestar.co.uk/business/consumer/christmas-crisis-eight-sheffield-shops-face-closure-debenhams-and-arcadia-wipeout-3054197

[Janus]

Bonmarchè is one of the latest casualties.
https://www.bbc.co.uk/news/business-55159180

[Westie1889]

The problems in these businesses have been evident for a while.

Debenhams never created a position for itself in the market, featuring a raft of franchises and a collection of poor ‘designer’ brands that were effectively house labels being created just for Debenhams.

Of all the department stores they had the poorest offer both instore and online so no surprise they have gone in the current climate.

Arcadia used to be a good group and contrary to some thoughts Phillip Green did know what he was doing. However, he then seemed to lose interest and took huge tax free dividends (£1.2bn paid to his wife one year) which then starved the businesses of direction and cash for investment into their product offer and online platforms.

 

It’s tragic for the employees and the taxpayer will likely take a hit through the pension scheme, also the space on high streets will be a problem to fill but like many things after Covid it offers a chance to re-think what the high street is for.

 

I work for a large retailer and High Street / City Centre shops are 50% down at the moment, large malls like Meadowhall are not doing much better but more local retail parks are booming as are online sales.

 

This trend will change a bit once the pandemic is over but will not go back to how it was as people will work more from home starving City Centres and High Streets of footfall. 
 

I think more local shopping is a good thing as it offers the chance for good independents to grow, but there will need to be major investment in City Centres away from retail and offices towards more leisure, hospitality and residential development.

 

 

[nightrider]

On 01/12/2020 at 11:35, melthebell said:

I disagree, all these shops that are failing are having issues anyway and are failing to adapt, too big, too old. Most are in massive buildings that will be massively expensive to rent, run. they fail to adapt to change.

The pandemic is just the thing thats pushed them over the edge, they were slowly moving to the edge anyway.

I went in Debenhams on the Moor a few years ago and it was just awful. Stuff piled up all over and not much choice on any products. Never went in again. Not surprised they went under.

[melthebell]

5 hours ago, Westie1889 said:

 

I think more local shopping is a good thing as it offers the chance for good independents to grow, but there will need to be major investment in City Centres away from retail and offices towards more leisure, hospitality and residential development.

 

 

Funny thing is when you look back to old pictures of say "sheffield" what is now the city centre was just sheffield, full of residential streets, maybe we are moving back to that type of thing, areas of residential dwellings as well as offices, the odd shop and cafe etc, rather than just wall to wall big shops?

[Baron99]

29 minutes ago, melthebell said:

Funny thing is when you look back to old pictures of say "sheffield" what is now the city centre was just sheffield, full of residential streets, maybe we are moving back to that type of thing, areas of residential dwellings as well as offices, the odd shop and cafe etc, rather than just wall to wall big shops?

Well if you think about it, we're having the retailers deliver more goods to our doors than we were say even 5 or 6 years ago, including fresh produce, just like people did up until the late 60's early 70's, rather than us having to go to them. 

 

I remember when we first moved into Nether Edge, there was an old co-op type store, Gower's & Burgin's, with a shop boy on a bike who woud make deliveries. 

 

We're beginning to go full circle. 

Edited December 3, 2020 by Baron99

[Janus]

Mike Ashley is in talks to attempt a rescue.
https://www.bbc.com/news/business-55212757