Store closures for 2009? [Merged]

swingking

RATM wrote: »

Just wondering about Harvey Norman, there is a lot of rumours that they are about to hit the wall. But the other day I saw an ad for them on the TV offering something like 2 years interest free on products over €500. If someone bought a big item ( like over €1k ) on their interest free offer and they then go to the wall what exactly happens ?
The reason I ask is that we have often seen consumers left high and dry when companies go bust ( mainly airlines but Habitat too afaik ). But in this instance it is possible consumers will owe HN money when/if they go bust. Are the consumers in a postiion to say nah we're not paying up, tough, just like companies who have taken money off consumers do?

I would say most likely is that when a company goes bust, someone offers to buy the debts off a company and they become the new creditor for the customer. I can't see people getting off paying back the loans.

Biggins

RATM wrote: »

Just wondering about Harvey Norman, there is a lot of rumours that they are about to hit the wall. But the other day I saw an ad for them on the TV offering something like 2 years interest free on products over €500. If someone bought a big item ( like over €1k ) on their interest free offer and they then go to the wall what exactly happens ?
The reason I ask is that we have often seen consumers left high and dry when companies go bust ( mainly airlines but Habitat too afaik ). But in this instance it is possible consumers will owe HN money when/if they go bust. Are the consumers in a postiion to say nah we're not paying up, tough, just like companies who have taken money off consumers do?

What happens there is called in auditors might appoint another agency if required to collect the outstanding debt.
Anyone that has taken out a loan from them (Harvey Normans, etc) anyway beforehand, is probably not dealing with the shop direct when it comes to payments. Rather, customers will have been signed up to a normal shop appointed lending/debt collection agency (who has given money to the shop on behalf of your bill) during the normal course of business. In the event of closure, these lending agencies will try to continue to regain their funds by the usual known methods.

LCDeelite

Mango clothes shop is on the way out. Not forgetting countless internet cafes.

LCDeelite

Gosh, the closure of the 200 Woolworths stores here leaves a massive 27,000 people facing redundancy.

:eek:

astrofool

Does anyone not realise that in 6 months time when the UK has sold it's stock, that prices over there are going to have to rise substantially due to purchasing with a much weaker pound? The likes of Nintendo/Samsung/Nokia/Sony/Clothes retailers all price globally, and will take into account the low value of sterling. There's going to be murder when they realise they can buy 50% less on international markets. (and it's not like the UK is a large manufactuer of goods anymore, like France/Germany/Italy are).

Sanerah

ejmaztec wrote: »

There's always been a recession in North Kerry. They only started wearing shoes in 1973, about the same time that tarmac appeared.

:D:D:D ROFL

OPENROAD

Toiletroll wrote: »

Costa Coffee is indeed a pile of pish.. I love my coffee also! There's is like Treackle...

Sometimes though it does depend on the branch.

Fanny Cradock

astrofool wrote: »

Does anyone not realise that in 6 months time when the UK has sold it's stock, that prices over there are going to have to rise substantially due to purchasing with a much weaker pound? The likes of Nintendo/Samsung/Nokia/Sony/Clothes retailers all price globally, and will take into account the low value of sterling. There's going to be murder when they realise they can buy 50% less on international markets. (and it's not like the UK is a large manufactuer of goods anymore, like France/Germany/Italy are).

While I don't expect Sterling and the Euro to remain around parity indefinitely, it doesn't seem inconceivable that the UK will have ditch the pound eventually.

Fanny Cradock

Fanny Cradock wrote: »

I also heard that Boards.ie is under administration.

Care to elaborate! The ad at the top of this forum says otherwise

Fanny Cradock

Fanny Cradock wrote: »

While I don't expect Sterling and the Euro to remain around parity indefinitely, it doesn't seem inconceivable that the UK will have ditch the pound eventually.

Chances are that the pound will recover to about the same level as last summer, as for joining the Euro - well the "No's" are already stocking up on ammo.

If the pound stays low, then there may be a backlash when that holiday in Spains "Costa del jobbo" costabomb in comparison to last years.

mehfesto2

Easons are to close a few branchs around Dublin if rumours are to believed.

Also I reckon stuff like Subway, O'Briens and all the other shops that are selling you basic sambos for ridiculous mark up are gone. Doubt Starbucks though - man, that stuff has too many people hooked.

And apparantly recessions are great for sex-shops and comedians. We could be in for a good time after all!

OPENROAD

mehfesto2 wrote: »

Easons are to close a few branchs around Dublin if rumours are to believed.

Also I reckon stuff like Subway, O'Briens and all the other shops that are selling you basic sambos for ridiculous mark up are gone. Doubt Starbucks though - man, that stuff has too many people hooked.

And apparantly recessions are great for sex-shops and comedians. We could be in for a good time after all!

Heard recently that Subways were edpanding particularly in Dublin.

Still very few Starbucks in Dublin.

dmcg90

Sex shops? Really?

Acacia

dmcg90 wrote: »

Sex shops? Really?

Well, the nights will be long and dark, and we won't able to afford to do anything else except a bit of the old wink-wink, nudge-nudge.

The_Conductor

mehfesto2 wrote: »

Doubt Starbucks though - man, that stuff has too many people hooked.

Starbucks use far too high a proportion of mechanically harvested Robusta beans in their blend. Its cheap and cheerful- but quite bitter. Thats why they have to roast the crap out of it. If you wanted to be politically correct- you could also look at how they tried to stop the Ethopians from marketing their own coffee, which was the best idea they ever came up with........ Its almost as bad as Bewleys crap that gets served in lots of places (urggghhh......) I really don't understand how or why people like the place. At least their pastries are edible........ Mmmmm cinnamon swirl.......

bladebrew

my god this is a depressing thread!!
is there anyone actually doing better because of this recession??
like aldi and lidl,everytime i get a leaflet from them they have a new store opening somewhere,which is good for irish jobs but the money isnt staying in ireland,and surely harveys wouldnt be opening a new store if they were in trouble:eek:

Toiletroll

Deleted User wrote: »

Care to elaborate! The ad at the top of this forum says otherwise

Forum administrators and the like I presume...

Blush_01

themadchef wrote: »

This is it in a way, and i know i'm going to get shot for saying it.

People want the best of everything. No ordinary push chair or cot will do now. Mary down the road has the superduper gold plated buggy therefore i should have it. A new baby in the family is a prime example. People are spending insane amounts of money on products they will have for a short space of time. Some buggys cost over 1k! because it's a so super duper.......


i'm having a kid, im getting married (other reason here) and i deserve the best ,even if i cant afford it i have to have it. This is the attitude that will sink our country.

We need to buy products that are functional, end of story, not just a brand.

I didn't mention brands. The person in question is getting a pushchair/carrytot combo because she intends on having more than one child and wants to have a piece of equipment that won't fall apart. She's not running out for a MaxiCosi or a Quinny because they're the "cool" pushchair to get.

My parents got a Silver Cross pram and push chair 24 years ago. The pushchair not only did me, my brother and sister, but was also passed on to an aunt who had twins, because it was still in good nick. I would consider something which has a name for quality and durability being a better investment than something cheap that won't stand the wear and tear of daily use. Surely it's a false economy to buy something because it's the cheapest item on the market if it'll have a shorter shelf-life? That's also part of our problem. We've stopped investing in quality items and instead what we buy is so utterly disposable because next season it won't be the thing to be seen in.

As for credit cards, I've had mine for 3 years this April, I've never paid a cent in interest and intend on keeping it that way. Front-loading all the way baby!

romdjoll

I work in retail and today I had five separate customers use their credit cards to pay for purchases under €5.

Credit is still the main source of a lot of spending at the moment.

Post-Christmas spending is way down, mostly people using gift cards they got as presents and stuff like that, or only buying stock that is half-price (and yelling at us when stuff they want isn't part of the sale).

It's all very well going on about the sterling parity, but we can't pass on price reductions we're not getting, as an example Newspread and Eason Menzies are still charging retailers for magazines at their old sterling rate (from Nov last year) - and there's no discount to speak of on them. If retailers were to sell at parity (plus VAT ofc) it's them that lose out. That means less profit, and less money to pay staff.

Which means hiring freezes (already in place everywhere, just as lots of people find themselves in the job market) and cut-backs in staff hours which effectively means lay-offs.

Retailers operating on credit terms (most of them) are now paying 90-day old bills to UK suppliers - calculated at the old sterling rate (.67/.68 depending). Savings from parity won't hit for another while.

As someone who was born in the '70s, I remember the '80s, and was working long before the celtic tiger hit (£2.33 an hour FTW!). I'm not worried about me, more about the people who over-extended on credit and mortgages and might find themselves without cash for the first time ever - that's an adjustment many will find extremely hard.

I never expected (in my teens) to find a job in this country, and I'm damned glad that I still have one today. I wouldn't wish job losses on anyone, no matter how irritating the "brand" they work for is.

antodeco

bladebrew wrote: »

is there anyone actually doing better because of this recession??
like aldi and lidl,everytime i get a leaflet from them they have a new store opening somewhere,which is good for irish jobs

If they hired Irish people, yes. But they dont.

AlmightyCushion

Yes they do and even if they didn't tax money is tax money.

phantom_lord

bladebrew wrote: »

but the money isnt staying in ireland

most shop are owned by foreign companies and practically everything they sell is imported. i don't think losing a few retail jobs is a big deal.

antodeco

antodeco wrote: »

If they hired Irish people, yes. But they dont.

Do Irish people apply... Heard the same argument about McJobs awhile ago, someone in McD's said that only migrants were applying!

bladebrew

bladebrew wrote: »

surely harveys wouldnt be opening a new store if they were in trouble:eek:

The lead time between deciding it's a good idea to open a new store and actually opening the doors, is quite long. The opening will have been planned long before the shit hit the fan

Ckal

Deleted User wrote: »

Do Irish people apply... Heard the same argument about McJobs awhile ago, someone in McD's said that only migrants were applying!

There are Irish people working in the LIDL I live closest to.

jahalpin

mehfesto2 wrote: »

Easons are to close a few branchs around Dublin if rumours are to believed.

Any idea which branches are to close?

futura123

how about all the coffee chains in our cities???? Galway in particular has an abundance of arrabicas and mocha beans aswell as the independent ones!!!

dmcg90

Apart from the one in the shopping centre up from Shop Street, and that smoothie place on shop street, I can't think of any more.

Toto Wolfcastle

dmcg90 wrote: »

Apart from the one in the shopping centre up from Shop Street, and that smoothie place on shop street, I can't think of any more.

Are you serious? Galway is overrun with them!

dmcg90

Where are they then!!!