Companies That You Expect to Disappear Soon

jsimpson · 22 Aug 2018

Agree with the majority of comments around McDs, BK, KFC, most of the time I will usually opt for McDs, most of my recent experiences with BK and KFC haven't been great; inefficient, dated premises etc. I watched an interesting film recently called 'The Founder' which paid particular attention to the companies initial formula of attention to detail and consistency which is something I've noticed in recent years especially with the introduction of touch screen ordering and the made to order system they have introduced. Add to that most of the restaurants I've been in recently have all been fresh and recently renovated, I'm pretty sure that all of the 4/5 in the Lincoln area that come to mind have been refreshed within the last couple of years.

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Iskra · 26 Aug 2018

Wonga struggling. I don't suppose many will be sad to see the back of them though. Bit of a surprise.

https://www.bbc.co.uk/news/uk-45313958

Payday lender Wonga has said it is considering "all options" after reports suggested it was on the brink of collapse.

It follows a surge in compensation claims against the firm, amid a government clampdown on payday lenders.

According to Sky News, the firm has lined up Grant Thornton to act as administrators in the event it becomes insolvent.

It said the ailing firm would make a decision about its future within weeks.

Britain's biggest payday lender, Wonga faced criticism for its high cost, short term loans, which some said targeted the vulnerable.

Tougher rules
In 2014 the Financial Conduct Authority found its debt collection practices were unfair and ordered it to pay £2.6m to compensate 45,000 customers.

Since then, payday loan companies have faced tougher rules and have their charges capped.

This has hit Wonga's profits hard and in 2016 it posted pre-tax losses of nearly £65m, despite claiming its business had been "transformed".

It has continued to face legacy complaints and was forced to seek a bailout from its backers this month amid a surge in claims.

A Wonga spokesman said: "Wonga recently raised £10m from existing shareholders to address the significant increase in legacy loan complaints seen across the UK short-term credit industry.

"Since then, the number of complaints related to UK loans taken out before the current management team joined in 2014 has accelerated further, driven by claims management company activity.

"Against this claims backdrop, the Wonga board continues to assess all options regarding the future of the group and all of its entities."

Fall from grace
According to Sky, the firm is exploring the possibility of a pre-pack administration process similar to that used recently by House of Fraser.

However, it could also look to sell assets, including its Polish subsidiary to bolster its cashflow.

It has held detailed talks with the Financial Conduct Authority, the City regulator, about its options, Sky reported.

It marks a huge fall from grace for Wonga which, in 2012, was touted to be exploring a US stock market flotation that would have valued it at more than $1bn (£770m).

bussnapperwm · 26 Aug 2018

Iskra said:
Wonga struggling. I don't suppose many will be sad to see the back of them though. Bit of a surprise.

https://www.bbc.co.uk/news/uk-45313958

Looks like they'll need to go to a payday loans company for a loan

TubeMapCentral · 26 Aug 2018

WHSmiths is one of those companies I just wish would go away, Fnac and Relay on the continent so much better, add Mediamarkt into the equation too, and bin M&S, Hema are better. Britain might be a nation of shopkeepers, but the tired ugly zombies should go!

dgl · 26 Aug 2018

jsimpson said:
Agree with the majority of comments around McDs, BK, KFC, most of the time I will usually opt for McDs, most of my recent experiences with BK and KFC haven't been great; inefficient, dated premises etc. I watched an interesting film recently called 'The Founder' which paid particular attention to the companies initial formula of attention to detail and consistency which is something I've noticed in recent years especially with the introduction of touch screen ordering and the made to order system they have introduced. Add to that most of the restaurants I've been in recently have all been fresh and recently renovated, I'm pretty sure that all of the 4/5 in the Lincoln area that come to mind have been refreshed within the last couple of years.

The KFC in Weymouth has been refurbed fairly recently so looks fresh/clean/modern, probably helps having a McDonalds within 100m so have close competition and with the nearby McDonalds not being a franchise (and the fact it's really busy most of the time)it means that if there is something new (i.e. the Touch Screens) it is likely to get it quite quickly and as such keeps the competition on it's toes.

BK's main issue is the fries, whilst KFC seem to have improved theirs so they are edible I found that my last ones from BK were barley edible.
Remember very few people go into an establishment just for a burger, they want the whole package, and is part of that package is vastly superior somewhere else then that is where they are going to go.

McDonalds chips and KFC gravy anyone?

E_Reeves · 27 Aug 2018

TubeMapCentral said:
WHSmiths is one of those companies I just wish would go away, Fnac and Relay on the continent so much better, add Mediamarkt into the equation too, and bin M&S, Hema are better. Britain might be a nation of shopkeepers, but the tired ugly zombies should go!

I've always liked WHSmiths and I can't see them disappearing soon, but you never know...

yorksrob · 27 Aug 2018

dgl said:
The KFC in Weymouth has been refurbed fairly recently so looks fresh/clean/modern, probably helps having a McDonalds within 100m so have close competition and with the nearby McDonalds not being a franchise (and the fact it's really busy most of the time)it means that if there is something new (i.e. the Touch Screens) it is likely to get it quite quickly and as such keeps the competition on it's toes.

BK's main issue is the fries, whilst KFC seem to have improved theirs so they are edible I found that my last ones from BK were barley edible.
Remember very few people go into an establishment just for a burger, they want the whole package, and is part of that package is vastly superior somewhere else then that is where they are going to go.

McDonalds chips and KFC gravy anyone?

I can get on with BK's fries, even though you don't get many of them. I've really gone off McDonalds fries though recently. They just seem to be all salt and no taste to me, and this is all the more noticeable, given that they are the only part of the menu that can't be substituted. I also note that it must be getting on for about four years since the potato wedges made an appearance.

richw · 27 Aug 2018

robert7111a said:
Funny that...I use my local Ryman with whom I'm on first name terms with a couple of (good) assistants and the manager. I am always greeted, asked "how are you?" etc and if I need anything I can't find, in a rush or need to order, they are so helpful.

I wouldn't get this service in my local WH Smith whom (with respect) only seem to employ teenagers on part-time shifts who look bored or stand chatting to one another

OT, I remember going for my first ever job at WH Smith when I left school where the minimum qualifications were 5 O levels (yes O levels, not GCSEs)

I’ve been regularly using WH Smith in Seaton in Devon, this store is a franchise and quite a small store, it also has a post office. It’s normally staffed by the franchise owner and 2 regular ladies who all give excellent service and know their customers by name. It’s always busy when I’ve visited. It’s unfair to tarnish all WHSmiths with the same brush,

jon0844 · 27 Aug 2018

yorksrob said:
I've really gone off McDonalds fries though recently. They just seem to be all salt and no taste to me, and this is all the more noticeable, given that they are the only part of the menu that can't be substituted.

You can substitute fries with salad (in theory; they often don't have any) or carrot sticks at mine.

I did like the wedges though!

yorksrob · 27 Aug 2018

jon0844 said:
You can substitute fries with salad (in theory; they often don't have any) or carrot sticks at mine.

I did like the wedges though!

I think the wedges were more up my street than salad !

Smethwickian · 28 Aug 2018

dgl said:
BK's main issue is the fries, whilst KFC seem to have improved theirs so they are edible I found that my last ones from BK were barley edible.

How do you make fries out of barley?

NoOnesFool · 31 Aug 2018

Is it just me or does Debenhams seem to be running itself in to the ground? I went in the other day and it was filthy. The carpet looked like it had never seen a vacuum and the ceiling was all stained. Staff morale seemed low too. TBH, I can see why though, department stores are a dying breed, only have to look at Woolworths to see that.

johntea · 31 Aug 2018

Turns out the Castleford Poundstretcher as recently featured on Channel 4 is now closing down!

NoOnesFool · 31 Aug 2018

johntea said:
Turns out the Castleford Poundstretcher as recently featured on Channel 4 is now closing down!

Personally, I think it's the names of these kind of places that let them down. Poundland, Poundstretcher, Poundworld, Savers etc, the names all scream cheapskate. They want to appeal to budget shoppers, fine but they don't have to scream about it in their branding. Primark for example, is a budget store but it is thriving and I think part of its success is in attempting to brand it as mainstream but with budget prices. I wouldn't be ashamed to carry a Primark bag around in public, but I would be embarrassed if someone I knew saw me with a Poundstretcher or a Savers bag. I know a few people might disagree with me, but that's my opinion.

Dai Corner · 31 Aug 2018

NoOnesFool said:
Personally, I think it's the names of these kind of places that let them down. Poundland, Poundstretcher, Poundworld, Savers etc, the names all scream cheapskate. They want to appeal to budget shoppers, fine but they don't have to scream about it in their branding. Primark for example, is a budget store but it is thriving and I think part of its success is in attempting to brand it as mainstream but with budget prices. I wouldn't be ashamed to carry a Primark bag around in public, but I would be embarrassed if someone I knew saw me with a Poundstretcher or a Savers bag. I know a few people might disagree with me, but that's my opinion.

I agree. It's all about brand image. I don't buy many clothes but tend to go to Marks & Spencer or Next rather than Primark or the supermarkets with their own brands. Am I wasting my money? No idea! On the other hand, I'm quite happy to buy batteries, say, in Poundland.

WelshBluebird · 31 Aug 2018

NoOnesFool said:
Personally, I think it's the names of these kind of places that let them down. Poundland, Poundstretcher, Poundworld, Savers etc, the names all scream cheapskate. They want to appeal to budget shoppers, fine but they don't have to scream about it in their branding. Primark for example, is a budget store but it is thriving and I think part of its success is in attempting to brand it as mainstream but with budget prices. I wouldn't be ashamed to carry a Primark bag around in public, but I would be embarrassed if someone I knew saw me with a Poundstretcher or a Savers bag. I know a few people might disagree with me, but that's my opinion.

At least in my eyes its more that, especially for Poundland and Poundworld, they don't really have a brand at all in the eyes of the public. They are all the same.
Indeed at least most people I know just say "pound shop" as a generic term rather than the same of the shop.
There are several different pound shop style shops on and near the main shopping street in Cardff (well I guess one or two less now with Poundworld dying), whenever I have had to pop into one it wasn't that I was specifically choosing that one, it was that it was nearer where I was at that time.

gswindale · 31 Aug 2018

So,

Homebase has had a bit of a reprieve - how much longer for though?
https://www.bbc.co.uk/news/business-45367910

LOL The Irony · 31 Aug 2018

johntea said:
Turns out the Castleford Poundstretcher as recently featured on Channel 4 is now closing down!

I see poundstretcher going under. The owner fobbed off the guy he brought in to help and then put his sons in charge. Absolute imbecile.

Intercity 225 · 31 Aug 2018

LOL The Irony said:
I see poundstretcher going under. The owner fobbed off the guy he brought in to help and then put his sons in charge. Absolute imbecile.

Haha! And yes, I completely agree. That Channel 4 documentary series was pretty entertaining and Chris Edwards is a great entrepreneur... sacking him was a moronic decision.

Some of the ludicrous items they had on sale before Edwards came in were hilarious! There was a “fish dressing” that sticks in my mind that nobody actually knew what it was but the imbecile thought it’d sell purely because it was “cheap”.

And the mountains of Pontefract cakes they’d stocked up on that they’d never be able to sell in a million years... never mind before the sell by date! :lol:

Drsatan · 31 Aug 2018

NoOnesFool said:
Is it just me or does Debenhams seem to be running itself in to the ground? I went in the other day and it was filthy. The carpet looked like it had never seen a vacuum and the ceiling was all stained. Staff morale seemed low too.

Seeing how quiet the Debenhams in Southampton is, as it's located away from the main shopping street, I wouldn't be at all surprised if it's closed. I went there one Sunday before Christmas and I didn't see many customers.

CC 72100 · 2 Sep 2018

Intercity 225 said:
Haha! And yes, I completely agree. That Channel 4 documentary series was pretty entertaining and Chris Edwards is a great entrepreneur... sacking him was a moronic decision.

Some of the ludicrous items they had on sale before Edwards came in were hilarious! There was a “fish dressing” that sticks in my mind that nobody actually knew what it was but the imbecile thought it’d sell purely because it was “cheap”.

And the mountains of Pontefract cakes they’d stocked up on that they’d never be able to sell in a million years... never mind before the sell by date!

Just seen the last episode. I've no idea how easy someone like Chris who is used to total control is to work with but he appears to have understood the business and it was impossible for him to improve the business just with a remit on sales alone.

Also couldn't help but feeling sorry for the way some of Chris' loyal aides were treated... the one bloke looked genuinely tearful at the end!

Unfortunately it appeared like it was being run as a personal family empire in an echo chamber of ideas and strategy even if it's the wrong one. I guess the high street will judge whether it is indeed the case!

FOCTOC · 2 Sep 2018

E_Reeves said:
I've always liked WHSmiths and I can't see them disappearing soon, but you never know...

I wasnt particularly fussed about Smiths until I went on a trip without a charger adapter for my phone. £2.99 in most places, £19.99 in Smiths. Then theres Boots, flogging £1.99 shampoo in hospital outlets for £8.99. Utterly vile companies.

yorksrob · 2 Sep 2018

To be fair to Boots, whereas they might be extortionate in hospitals, they're actually quite reasonable in railway stations.

bramling · 2 Sep 2018

Drsatan said:
Seeing how quiet the Debenhams in Southampton is, as it's located away from the main shopping street, I wouldn't be at all surprised if it's closed. I went there one Sunday before Christmas and I didn't see many customers.

Must admit I thought same. Went into a local Debenhams department store recently for the first time in 20 years and amazingly the interior looked absolutely identical! Like stepping back in time, albeit 20 years of wear and tear.

Having said that I do use their Oxford Street store quite a bit and generally like their clothes range.

61653 HTAFC · 3 Sep 2018

NoOnesFool said:
Personally, I think it's the names of these kind of places that let them down. Poundland, Poundstretcher, Poundworld, Savers etc, the names all scream cheapskate. They want to appeal to budget shoppers, fine but they don't have to scream about it in their branding. Primark for example, is a budget store but it is thriving and I think part of its success is in attempting to brand it as mainstream but with budget prices. I wouldn't be ashamed to carry a Primark bag around in public, but I would be embarrassed if someone I knew saw me with a Poundstretcher or a Savers bag. I know a few people might disagree with me, but that's my opinion.

It doesn't help that pound shops took off long after Poundstretcher was started, and when Poundstretcher expanded into new areas people began to expect it to be another Poundworld or Poundland. I don't have enough fingers and toes to count the number of times I heard people in there moaning about the prices, despite it once being one of the better places to get cheaper essentials on a student budget.
Even presenters and supposed consumer experts would appear on news programmes and refer to Poundstretcher in the same breath as Poundland.
The name has definitely become a problem, compare it to the (once) quite similar Wilkinson's/Wilko which at least appears to be doing fine. Then again, rebranding some stores as InHouse (or whatever it was) didn't help either.

Clip · 3 Sep 2018

FOCTOC said:
I wasnt particularly fussed about Smiths until I went on a trip without a charger adapter for my phone. £2.99 in most places, £19.99 in Smiths. Then theres Boots, flogging £1.99 shampoo in hospital outlets for £8.99. Utterly vile companies.

Unsure how you can call them vile - they exist to make money and if they can sell at a higher price in some places then fair play to them - you dont have to buy from them

318266 · 6 Sep 2018

WHSmith can also be quite funny sometimes. For example, at Glasgow Central they have 2 stores!

Bletchleyite · 6 Sep 2018

61653 HTAFC said:
Wilkinson's/Wilko

They are probably better described as "Woolworths done properly" and have basically taken that market over.

johntea · 13 Sep 2018

John Lewis and to a perhaps slightly lesser extent Waitrose have just reported a 99% drop in half year profits...ouch!

The problem seems to have come about due to their ‘never knowingly undersold’ policy, the trouble with that is they have to pay for expenses such as retail premises unlike online competitors

Just as a final kick in the teeth they’re currently in the middle of rebranding to ‘John Lewis/Waitrose and partners’ to promote the fact the staff get bonuses based on their profits!

krus_aragon · 13 Sep 2018

Even disregarding online retailers, their high street competitors (Debenhams, House of Fraser) are barely alive. If they've been throwing discounts at customers to drag them in (and get short-term cash) then John Lewis's policy says they have to drop their prices accordingly.

An interesting extract from a BBC article:

The partnership's chairman, Sir Charlie Mayfield, has rejected the obvious response.

This is not the time, he said, to be cutting back, closing stores and stopping investment. Instead, he has stepped up investment in stores, while also husbanding costs, as can be seen in a review of the future of the retailer's final-salary pension scheme.

Sir Charlie's main strategic move, however, is hidden in the fine print of the financial statements.

He is paying down John Lewis's debt as fast as he can.

In a downturn this severe, the last person standing is often the winner - and by getting rid of debt, Sir Charles is doing his best to make sure that is John Lewis.

(Disclaimer: my first job was with Waitrose, several years ago.)

Companies That You Expect to Disappear Soon

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