DarloRich
Veteran Member
Isn't Cash Converters more of a franchise system?
no idea. If it is they may be more susceptible to closing down.
Isn't Cash Converters more of a franchise system?
no idea. If it is they may be more susceptible to closing down.
The one in Dudley changed to a brand named The Deal Maker at least two years ago
But where else can you get Golden Wonder crisps?
The owner of Patisserie Valerie has uncovered "significant, and potentially fraudulent, accounting irregularities" and discovered HMRC has filed a winding-up petition against one of its subsidiaries.
Patisserie Valarie it would seem: https://www.bbc.co.uk/news/business-45805647
But are the accounts accurate? It is subject to a fraud apparently, maybe that will bring it down. I hope it stays though, I do like their Mielle-Feuille (so much so I spelt it right!)It’s a profitable company. I’d expect it to continue. It’s not that big though so could become a target of an investment fund.
Classic!HS2 Ltd - 4 non-exec directors leaving - well over budget by all accounts and running behind schedule
Patisserie Valarie it would seem: https://www.bbc.co.uk/news/business-45805647
It’s a profitable company. I’d expect it to continue. It’s not that big though so could become a target of an investment fund.
Noted in the weekend press that W H Smith have reported better than average growth ....(puts them off the list then..)
WHSmith is effectively split in two -travel stores (airports, railway stations etc) and town centre stores.
Profits in travel stores are up 7% and down 3% in other stores. Travel stores make 2/3rds of their sales and profits.
Noted in the weekend press that W H Smith have reported better than average growth ....(puts them off the list then..)
They’ve announced this morning a drop in profits and store closures
They’ll be safe as houses. The share price will take a hefty dip when they are trading again (the shares were overpriced anyway), but they will be fine.
A rather careless 'owner', really.The owner of Patisserie Valerie has said the cafe chain needs "an immediate injection of capital" to continue trading in its current form.
The stark statement to investors comes after the firm uncovered "significant, and potentially fraudulent, accounting irregularities".
It also belatedly discovered HMRC filed a winding-up petition against one of its principal subsidiaries in September and is seeking £1.14m in taxes
Women's fashion retailer Coast has gone into administration, putting 300 jobs at risk, in a sign of continuing pain on the High Street.
The collapse means the immediate closure of its 18 UK outlets, at locations including Oxford Street and Westfield in London.
He looks like he's already a regular customer.Some really idiotic management if they go under considering the profit margin on tea/coffee. Although their stores seem to be in more premium locations so I imagine the rents reflect that.
Bet Mike Ashley is getting ready to pounce...
Perhaps not quite so safe,
https://www.bbc.co.uk/news/business-45824285
It rather seems like some people have taken their eyes off the ball.
A rather careless 'owner', really.
Just heard on radio in same bulletin mentioned Coast they expect Patisserie Valerie to enter administration tomorow
PV is one of those places where I've often peeked in through the window as I walked past, and thought "ooh, that looks nice..." but I never actually went in or bought anything. I could see the appeal though, with a vibe of "Pret, but for desserts" about it. The ones in Leeds and Huddersfield always seem reasonably busy, so if that's anything to go by then it seems the boardroom shenanigans have been more of a problem than the business model itself.Awful for Patisserie Valerie employees, but I don’t think that very many independent tea rooms up and down the land will shed a tear.
Although PV very much follows the pattern of over-expanded, investment-capital backed, limited shelf-life ‘concepts’, I suspect that their impact on small businesses in the provincial towns in which they opened will have been rather more compromising than, say, a Jamie’s or a Prezzo.
Regis UK, the firm behind hairdressing chains Regis and Supercuts, is seeking a rescue deal in order to stay afloat.
The firm is looking to slash its rents through a company voluntary arrangement (CVA) as it struggles with lower footfall, the apprenticeship levy and higher pension costs.
The firm employs 1,300 staff and has 220 salons.
It said it did not intend to have any store closures or redundancies as part of the CVA plan.
Jackie Lang, managing director of Regis UK, said: "This action has been taken to restructure our costs to ultimately enable reinvestment into the business to improve our digital platforms and our expertise in salon. If successful, over 90% of our creditors will be unaffected."
The firm said it planned to ask for a reduction on rental costs on half of its stores.
Eddie Williams, a partner at Grant Thornton, which is acting for Regis UK, says: "The company has put forward a proposal to its creditors that seeks to amend some terms in its lease obligations and stabilise the business.
"As part of this, there are no planned salon closures and as such, no employee redundancies are planned, which is a positive in the context of the challenges the High Street has seen over the last 12 months and which continue to be prevalent."
Many of their town centre stores now incorporate the Post Office. I imagine that's helping significantly.
If WHSmith were to do a Woolworths and go bust one day, then that would lead to a number of towns no longer having a Post Office counter. That would make the PO's branch outsourcing plan look rather foolish.