more store closures and job cuts ahead in uk?

All this because Banks and Credit Card Companies let people borrow more than they could afford to repay. I remember the days when you could put
an item of clothing away in a shop and pay weekly for it. Many of these shopping precincts only appeared because of easy Credit.

A CREDIT SUPPLY ALLOWS PEOPLE TO SPEND (AND BORROW AGAINST THE VALUE OF ONE'S HOUSE)CREATING A BOOM,BUT ONE POSSIBLE PROBLEM IS YOU MUST PAY IT BACK EVENTUALY AND/OR ITS ALRIGHT WHILE HOUSE PRICES RISE,BUT IS PROBLEM IF HOUSE PRICES FALL.

IF THERE ARE LESS RETAILERS,THOSE DEALING IN COMMERCIAL PROPERTY MIGHT LAY OFF STAFF AS WELL.

Badboy wrote:IF THERE ARE LESS RETAILERS,THOSE DEALING IN COMMERCIAL PROPERTY MIGHT LAY OFF STAFF AS WELL.

A good point Badboy, that also makes me wonder about other trades: delivery people, producers...

The unemployed are made up of people from all Trades and Professions and it will take several years and an overhaul of the way we live to get back
to some kind of normality.

BARRATTS IS TO SUFFER MORE JOB CUTS.

Within the next six months I predict the unemployed will be 1.5 million.

Panda wrote:Within the next six months I predict the unemployed will be 1.5 million.

MIGHT BE WORSE

PEACOCKS MIGHT LAY OFF 13,000 EMPLOYEES.
I SEE IN LIVERPOOL 7 PEOPLE CHASING EVERY JOB.(THE PERSON INTERVIEWED IN THE GUARDIAN SAID THEY WERE ONLY TWO PEOPLE IN HIS STREET HE COULD THINK OF WHO WERE EMPLOYED.
IT IS WORSE ELSEWHERE(HARTLEPOOL,MERTYR TYDFIL ETC ETC.

Badboy wrote:PEACOCKS MIGHT LAY OFF 13,000 EMPLOYEES.
I SEE IN LIVERPOOL 7 PEOPLE CHASING EVERY JOB.(THE PERSON INTERVIEWED IN THE GUARDIAN SAID THEY WERE ONLY TWO PEOPLE IN HIS STREET HE COULD THINK OF WHO WERE EMPLOYED.
IT IS WORSE ELSEWHERE(HARTLEPOOL,MERTYR TYDFIL ETC ETC.

Badboy the latest estimate is there will be 3 MILLION unemployed!!!!!!

3 million unemployed rings a bell;1980s under thatcher.
IT MIGHT BE WORSE THAN UNDER HER.

SHELL ARE TO SACK HUNDREDS OF R/D STAFF,POSSIBLY OVER 1,000.

Badboy wrote:SHELL ARE TO SACK HUNDREDS OF R/D STAFF,POSSIBLY OVER 1,000.

It is estimated 7000 bank staff will lose their jobs., The Traders have always bragged that they could work abroad if their bonuses are affected,
let them try now!!!

Panda wrote:

Badboy wrote:SHELL ARE TO SACK HUNDREDS OF R/D STAFF,POSSIBLY OVER 1,000.

It is estimated 7000 bank staff will lose their jobs., The Traders have always bragged that they could work abroad if their bonuses are affected,
let them try now!!!

Bon Marche in trouble, owned by the same people as Peacocks.

Past Times in trouble too.

Where I live the City benefitted from objective one Funding and has been transformed over the years but the old Arcades were left intact and there is
every shop you can think of in two shopping malls and two main streets, all very compact for easy shopping. I don"t go into town often , the last time about a month ago , but the shops closed down since my last visit are very sad to see.

If your"e not watching anything interesting, Richard Wilson is on channel 4 now reviewing automated services....so true/

Panda wrote:Within the next six months I predict the unemployed will be 1.5 million.

Panda,dont know where your getting those figures from but i recon there are 8 million adults in this country eligible for work who dont for one reason or other.Succesive Governments have manipulated the figures.I think once you take off those that are incapable the real figure is probably about 5 mill.

Peacocks is going into administration.

http://news.sky.com/home/business/article/16150393

The owner of clothing chains Peacocks and Bonmarche has said it plans to place both businesses into administration.

The Peacock Group, which employs a combined 11,000 staff, said it made the decision after discussions with lenders over the future of the group broke down.

The parent company said it would seek a potential buyer for the Bonmarche business, but will appoint an administrator in the meantime.

Elsewhere, gift retailer Past Times fell into administration and confirmed 507 staff were made redundant before the move, with a further 67 job losses announced when KPMG were appointed administrator.

Peacocks trades from 611 Peacocks discount clothing stores and 394 Bonmarche shops in Britain.

The firm said it was in advanced and exclusive talks with a potential purchaser of Bonmarche.

It did not name the suitor, although a source familiar with the situation told Reuters news agency that the private equity firm Sun European Partners was seeking a deal that could involve a pre-pack administration of Bonmarche.

Sun European Partners declined to comment.

Morning AnnaEsse,thanks

This news is just as sad as hearing Woolworths was closing down. However will 11,000 staff be able to find jobs ?

It looks as though Lioned's forecast of 3 million unemployed won"t be far off. Britain is officially in recession.

THE ITEM CLUB SAYS UK IS IN RECESSION.
CAR MANUFRACTURERS ARE SEEKING TO EMPLOY 3,000 MORE PEOPLE.

Panda wrote:Morning AnnaEsse,thanks

This news is just as sad as hearing Woolworths was closing down. However will 11,000 staff be able to find jobs ?

It looks as though Lioned's forecast of 3 million unemployed won"t be far off. Britain is officially in recession.

I was so shocked when Woolworth's closed down. There's always been Woolworth's! As a child, I'd get off the bus at Woolworth's on the way to school. People would arrange to meet outside Woolworth's because everybody knew it, if they didn't know anything else about the town. My mother shopped at Woolworth's at a time when they sold biscuits, loose, out of metal boxes.

A while ago the shopping guru Mary Portas was appointed a Tsar to try and save the high street shops. she said at the time that the Uk had too many shops. At this rate it won't have any or there will be one shops for electrical, one for clothes, one for shoes, one for groceries etc etc etc.

Keela wrote:A while ago the shopping guru Mary Portas was appointed a Tsar to try and save the high street shops. she said at the time that the Uk had too many shops. At this rate it won't have any or there will be one shops for electrical, one for clothes, one for shoes, one for groceries etc etc etc.

High Keela,

It"s true, there are too many shops, they mushroomed with the advent of easy Credit and ever-changing Fashion. Washing Machines. Refrigerators etc were built to last 3 years (true, the guy who fixed my Fridge/Freezer told me.) T.V. Screens get bigger and bigger, £10 billion of food is thrown away
every year because of the sell by date , the list goes on.

It is accepted that Britain is heading for recession as is most of the world and times will be hard buy we will just have to live with it and hope we have learned a few lessons for the future.

Keela wrote:A while ago the shopping guru Mary Portas was appointed a Tsar to try and save the high street shops. she said at the time that the Uk had too many shops. At this rate it won't have any or there will be one shops for electrical, one for clothes, one for shoes, one for groceries etc etc etc.

That's already happening. I was looking for a particular kitchen item (mixer taps) and found that basically it was Homebase or Homebase. I think it's gonna be Ebay!

PREMIER FOODS WHO DO OXO/BATCHELORS SOUP AND SEVERAL OTHER BRANDS ARE SACKING 500? STAFF.

MORE LISTED COMPANIES(70%?) ARE ISSUEING PROFIT WARNINGS.
THE LAST TWO TIMES I WENT TO TESCO'S,THEY HAVE BEEN EMPTY SHELVES/NOT ENOUGH STOCKED,OBVIOUSLY SOME BETTER STOCK MANAGEMENT WANTED.