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Companies That You Expect to Disappear Soon

DB

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Would anyone actually miss Upper Crust?

Just a totally bland brand to me. Same with Pumpkin.

Obviously I do have sympathy for the staff though.

I believe they also run a lot of the branded station shops - Marks & Spencer food, etc - under franchise agreements, in addition to their own brands.

If they go bust that could mean a lot of empty shops in stations.
 
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Iskra

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I believe they also run a lot of the branded station shops - Marks & Spencer food, etc - under franchise agreements, in addition to their own brands.

If they go bust that could mean a lot of empty shops in stations.

That's SSP. Who own Upper Crust. They seem to be just getting rid of Upper Crust, rather than everything at this point.
 

DB

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That's SSP. Who own Upper Crust. They seem to be just getting rid of Upper Crust, rather than everything at this point.

yes - that's who I was referring to.

If they are looking at losing one of their own brands, with no franchise fees to pay, that doesn't bode well!
 

LOL The Irony

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Pre-pack administration is a scourge on society. Nothing more, nothing less. Business insolvency rules are far too lenient in this country, which is why you see the same names over and over again as directors of failed companies. That's the cost of "entrepeneurship".
Pre-packs should be kept for when there's a completely different person/entity waiting in the wings who are willing to take it over and fix it's issues. Using it like it is being used now is just abusing the system.
 

Iskra

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yes - that's who I was referring to.

If they are looking at losing one of their own brands, with no franchise fees to pay, that doesn't bode well!

Maybe, but strong brands are very powerful things and can drive significantly higher sales even on a similar product.
 

route101

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Cant remember last time i used Upper Crust, perhaps when it was 20% off with the bite card.

I noticed the M and S at Glasgow Central and Edinburgh is still shut.
 

Iskra

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Cant remember last time i used Upper Crust, perhaps when it was 20% off with the bite card.

I noticed the M and S at Glasgow Central and Edinburgh is still shut.

They will be SSP those two.

Train station outlets have the perfect storm of massively reduced footfall, high rents and generally being small so difficult to distance for both staff and customers.
 

Andyh82

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That's SSP. Who own Upper Crust. They seem to be just getting rid of Upper Crust, rather than everything at this point.
The story doesn’t say that, the job losses are across SSP

The media is referring to them as “Upper Crust owner SSP” as nobody would know who they were on about otherwise
 

Iskra

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The story doesn’t say that, the job losses are across SSP

The media is referring to them as “Upper Crust owner SSP” as nobody would know who they were on about otherwise

It's not clear is it. I knew who they were, but then I work for a business that does a lot of franchising.

Edit: getting rid of their M&S and Starbucks units would seem premature to me from a business perspective, hence why just losing Upper Crust seemed to make sense...
 
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SteveM70

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5,000 job losses represents just over half of SSP’s workforce. Wonder if the CEO will halve his pay?
 

xotGD

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5,000 job losses represents just over half of SSP’s workforce. Wonder if the CEO will halve his pay?
He deserves a bonus for making such a 'tough' decision.

As in: You've lost your job - tough!
 

Bald Rick

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SSP pay very high rents to Network Rail, which will have more to do with the desire to close outlets and consolidate the business.

Not for the last three months they haven’t!

 

Tetchytyke

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Not for the last three months they haven’t!


Good to see NR do that, I wasn't aware. Makes the cuts even less excusable.
 

SteveM70

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In the interest of accuracy, SSP employs just under 40,000 people.

Apologies, I took a news report at face value. According to their most recent annual report it’s about 37,000 but the principle still applies - do executives presiding over significant downsizing of their businesses see commensurate reductions in their salaries? I suspect not
 

FQTV

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Apologies, I took a news report at face value. According to their most recent annual report it’s about 37,000 but the principle still applies - do executives presiding over significant downsizing of their businesses see commensurate reductions in their salaries? I suspect not

There’s no causal link.
 

Dai Corner

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Apologies, I took a news report at face value. According to their most recent annual report it’s about 37,000 but the principle still applies - do executives presiding over significant downsizing of their businesses see commensurate reductions in their salaries? I suspect not

Have train drivers taken a pay cut if they're driving shorter trains? Or ticket clerks if they're selling fewer tickets?
 

SteveM70

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Have train drivers taken a pay cut if they're driving shorter trains? Or ticket clerks if they're selling fewer tickets?

Of course not, because their jobs are linked to to the task of driving and being on duty for a period of time respectively. For a CEO, it’s about the scale of responsibility. And in bigger companies that scale is greater.

That’s why CEOs of growing companies get significant pay rises, it’s why the CEOs of FTSE100 companies are on average paid more than those of FTSE250 companies and so on.
 

Dai Corner

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Of course not, because their jobs are linked to to the task of driving and being on duty for a period of time respectively. For a CEO, it’s about the scale of responsibility. And in bigger companies that scale is greater.

That’s why CEOs of growing companies get significant pay rises, it’s why the CEOs of FTSE100 companies are on average paid more than those of FTSE250 companies and so on.

Do you think saving a company from bankruptcy is easier than growing one, or that CEOs are working shorter hours while their employers' struggle?
 

yorksrob

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I wonder if in the longer term there will be moves by NR to reduce their rents.

Maccy D's at Leeds station, which one would presume to be one of the more resilient outlets still wasn't open when I went through on Saturday, so it's presumably not just SSP who are reluctant to open back up.
 

Tetchytyke

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Do you think saving a company from bankruptcy is easier than growing one, or that CEOs are working shorter hours while their employers' struggle?

It's been a very very long time since CEO pay has borne any relation to the duties of the job. Simon Smith, SSP CEO, gets about £1.4m a year, about 70 times the average wage for his staff.

On the subject of success, Simon Smith's career has taken in running Allders, Safeway and WH Smith, all notable business successes :lol:
 

Dai Corner

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It's been a very very long time since CEO pay has borne any relation to the duties of the job. Simon Smith, SSP CEO, gets about £1.4m a year, about 70 times the average wage for his staff.

On the subject of success, Simon Smith's career has taken in running Allders, Safeway and WH Smith, all notable business successes :lol:

I suppose a boring, not particularly profitable company has to make do with whatever CEO it can get? :lol:
 

C J Snarzell

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Frankie & Benny's is another restaurant chain facing an uncertain future. A recent article suggests they are closing many of their locations. There has been a F&Bs in my hone Town for many years but I have never been in it.
 

Mojo

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Frankie & Benny's is another restaurant chain facing an uncertain future. A recent article suggests they are closing many of their locations. There has been a F&Bs in my hone Town for many years but I have never been in it.
The one here has already closed permanently with signage and decor removed from the site in the last few weeks. It was in a new development beneath a cinema with a Chiquito next door (also owned by the same company; The Restaurant Group, who have already closed down all their Chiquito venues.
 

Strat-tastic

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With all these food businesses going under, presumably it will be a good time to start a new business once demand returns, which it will.
 

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