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Arcadia group collapse.

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  • 27-11-2020 2:59pm
    #1
    10000maniacs
    Registered Users Posts: 4,805 ✭✭✭


    This is a big disaster for retail. Dorothy Perkins, Top Man, Burton, Evans, Wallis, TopShop.
    How long before Grafton Street becomes the next Moore street?

    The go to street to get your phone or shoes fixed. :)


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    #2
    Thelonious Monk
    Registered Users Posts: 13,790 ✭✭✭✭Thelonious Monk


    Well we all seem to be managing fine without buying clothes all the time, most of which we probably don't need. It's one of the biggest polluters on the planet, so maybe we need to rethink the whole clothing system anyway.


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    #3
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Thelonious Monk wrote: »
    Well we all seem to be managing fine without buying clothes all the time, most of which we probably don't need. It's one of the biggest polluters on the planet, so maybe we need to rethink the whole clothing system anyway.
    This. Seriously, how many clothes shops do we actually need?

    Is a street full of shops selling clothes really "better" than any other?


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    #4
    murpho999
    Registered Users Posts: 28,403 ✭✭✭✭murpho999


    Don't see it as a disaster at all. I would be glad to see those shops gone off Grafton Street.

    It's a Dublin Street not a British High Street.

    Got some more individual shops in their that will make the street unique again.

    Future shops are goiing to have to be service and/or food orientated so it could become a great cultural place.


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    #5
    Church on Tuesday
    Registered Users Posts: 3,858 ✭✭✭Church on Tuesday


    seamus wrote: »
    This. Seriously, how many clothes shops do we actually need?

    Is a street full of shops selling clothes really "better" than any other?

    It's certainly better than the ones that attract scumbags.


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    #6
    whisky_galore
    Registered Users Posts: 15,782 ✭✭✭✭whisky_galore


    Church on Tuesday wrote: »
    It's certainly better than the ones that attract scumbags.

    The people that buy sports clothes who don't participate in any sport?


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    #7
    Atlantic Dawn
    Registered Users Posts: 81,267 ✭✭✭✭Atlantic Dawn
    M


    What will happen to Sir Philip's £100million luxury yacht 'Lionheart' now?


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    #8
    Tacitus Kilgore
    Registered Users Posts: 2,128 ✭✭✭Tacitus Kilgore


    Atlantic Dawn wrote: »
    What will happen to Sir Philip's £100million luxury yacht 'Lionheart' now?

    It'll be sold off to pay the redundancies for the staff who have lost their jobs... I'm sure...


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    #9
    RandomViewer
    Registered Users Posts: 6,191 ✭✭✭RandomViewer


    murpho999 wrote: »
    Don't see it as a disaster at all. I would be glad to see those shops gone off Grafton Street.

    It's a Dublin Street not a British High Street.

    Got some more individual shops in their that will make the street unique again.

    Future shops are goiing to have to be service and/or food orientated so it could become a great cultural place.

    Doubt if there are many of that type of store that can afford Grafton street rents


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    #10
    RandomViewer
    Registered Users Posts: 6,191 ✭✭✭RandomViewer


    Atlantic Dawn wrote: »
    What will happen to Sir Philip's £100million luxury yacht 'Lionheart' now?

    Pick up one random migrant in the Med and be declared a charity vessel


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    #11
    owlbethere
    Closed Accounts Posts: 2,329 ✭✭✭owlbethere


    I don't usually shop in them shops except for Dorothy perkins on the very rare occasion but they will be a huge loss all the same. For choice when it comes to clothing and not only that but for jobs too. These shops employ people and its going to add to unemployment. That's going to be hard for many people. Not only that this could be the start of retail going bang and a recession looming.

    Has there been any deal done on Brexit? I fear that's going to fcuk us over for some years to come.


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    #12
    murpho999
    Registered Users Posts: 28,403 ✭✭✭✭murpho999


    RandomViewer wrote: »
    Doubt if there are many of that type of store that can afford Grafton street rents

    Well something is going to have to change as the landowners need income.

    Normal retail shops are just not going to make it anymore. Replaciing a british chain store with something similar just won't work in this age.


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    #13
    Atlantic Dawn
    Registered Users Posts: 81,267 ✭✭✭✭Atlantic Dawn
    M


    Pension funds who have invested in all this retail property will have to reduce their rent expectations. I see potential for new startups or else complete ghost streets, all depends on who drops the rent first.


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    #14
    murpho999
    Registered Users Posts: 28,403 ✭✭✭✭murpho999


    owlbethere wrote: »
    I don't usually shop in them shops except for Dorothy perkins on the very rare occasion but they will be a huge loss all the same. For choice when it comes to clothing and not only that but for jobs too. These shops employ people and its going to add to unemployment. That's going to be hard for many people. Not only that this could be the start of retail going bang and a recession looming.

    Has there been any deal done on Brexit? I fear that's going to fcuk us over for some years to come.

    No deal done on Brexit yet but this is nothing to do with Brexit.

    It's internet & covid.


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    #15
    owlbethere
    Closed Accounts Posts: 2,329 ✭✭✭owlbethere


    murpho999 wrote: »
    No deal done on Brexit yet but this is nothing to do with Brexit.

    It's internet & covid.

    A no deal Brexit has the potential to add to this though.


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    #16
    ChikiChiki
    Closed Accounts Posts: 4,950 ✭✭✭ChikiChiki


    Allegedly, it was one of that group who was offering more than Bewleys were paying for the lease of the premises on Grafton street.

    It is a double edged sword for sure if they were to go to the wall. On one hand, local businesses will gain from it, on the other hand their products may be more expensive.


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    #17
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    murpho999 wrote: »
    Don't see it as a disaster at all. I would be glad to see those shops gone off Grafton Street.

    It's a Dublin Street not a British High Street.

    Got some more individual shops in their that will make the street unique again.

    Future shops are goiing to have to be service and/or food orientated so it could become a great cultural place.

    There are so many Aran jumpers and pog mo thoin tee shirts you need though.


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    #18
    Hamsterchops
    Registered Users Posts: 3,133 ✭✭✭Hamsterchops


    murpho999 wrote: »
    Don't see it as a disaster at all. I would be glad to see those shops gone off Grafton Street.

    It's a Dublin Street not a British High Street.

    Got some more individual shops in their that will make the street unique again.

    I am old enough to remember a time before the British shops arrived into Dublin, when prices were very high & choice was piss poor, then the High Street shops arrived, and we've been spoilt for choice ever since, so Viva la choice I say.

    Dublin will be the poorer for it, if and when they pull out.


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    #19
    ChikiChiki
    Closed Accounts Posts: 4,950 ✭✭✭ChikiChiki


    RandomViewer wrote: »
    Doubt if there are many of that type of store that can afford Grafton street rents

    Lower demand for premises will swiftly ensure Grafton St rents come tumbling down.


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    #20
    ChikiChiki
    Closed Accounts Posts: 4,950 ✭✭✭ChikiChiki


    murpho999 wrote: »
    Well something is going to have to change as the landowners need income.

    Normal retail shops are just not going to make it anymore. Replaciing a british chain store with something similar just won't work in this age.

    This is a very Irish attitude. Landowners have made an investment. An investment in which there are risks and can result in a net negative return.

    Landowners are not entitled to income because they have purchased an asset which is not generating an income. I see it in the current Dublin housing rental market. Landlords being stubborn and not reducing rent prices, instead leaving rooms open and absolutely in denial of what is happening in the environment around them.


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    #21
    RandomViewer
    Registered Users Posts: 6,191 ✭✭✭RandomViewer


    ChikiChiki wrote: »
    Lower demand for premises will swiftly ensure Grafton St rents come tumbling down.

    You got to remember these guys are connected, don't be surprised if a government department pays above the odds to use the premises for storage ,25 year lease


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    #22
    murpho999
    Registered Users Posts: 28,403 ✭✭✭✭murpho999


    Hamsterchops wrote: »
    I am old enough to remember a time before the British shops arrived into Dublin, when prices were very high & choice was piss poor, then the High Street shops arrived, and we've been spoilt for choice ever since, so Viva la choice I say.

    Dublin will be the poorer for it, if and when they pull out.

    But the internet has changed everything and we're spoiled for choice and that's why the shops are in trouble.

    I really don't like when an Irish street, which is Dublin's premier shopping street looks like a typical UK high street.

    Time to rethink it and come up with new solutions.


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    #23
    murpho999
    Registered Users Posts: 28,403 ✭✭✭✭murpho999


    ChikiChiki wrote: »
    This is a very Irish attitude. Landowners have made an investment. An investment in which there are risks and can result in a net negative return.

    Landowners are not entitled to income because they have purchased an asset which is not generating an income. I see it in the current Dublin housing rental market. Landlords being stubborn and not reducing rent prices, instead leaving rooms open and absolutely in denial of what is happening in the environment around them.

    How is it an Irish attitude?

    Landowners won't make any money if all shops are pulling out and not being replaced.

    So they'll have to drop their rents to make any money back.


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    #24
    DilD
    Closed Accounts Posts: 170 ✭✭DilD


    murpho999 wrote: »
    I really don't like when an Irish street, which is Dublin's premier shopping street looks like a typical UK high street.

    Why? It's basic supply and demand, it's what people want and buy so they supply that. Also, they can do it for a far cheaper price than your average 'independent' stores across Ireland, that's what it all comes down to, cost and savings.


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    #25
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,765 Mod ✭✭✭✭L1011


    Liffey Valley lost all the Arcadia shops that took up an entire section of the centre about three years ago. Allowed them to get some new tenants and do some reconfiguration. Probably delighted that that happened now!


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    #26
    buried
    Registered Users Posts: 9,681 ✭✭✭buried


    oh no how will we cope with this monumental loss

    "You have disgraced yourselves again" - W. B. Yeats



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    #27
    tdf7187
    Registered Users Posts: 1,597 ✭✭✭tdf7187


    Thelonious Monk wrote: »
    Well we all seem to be managing fine without buying clothes all the time, most of which we probably don't need. It's one of the biggest polluters on the planet, so maybe we need to rethink the whole clothing system anyway.

    Compared to smartphones and cars? I'd doubt it. What do you have in mind, a naked movement? Don't think that would catch on in this part of the world somehow.

    I also doubt if there is anything fundamentally wrong with the core business of Arcadia apart from its previous owner being a thieving scumbag. I believe it is highly rescuable.


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    #28
    Fuascailteoir
    Registered Users Posts: 586 ✭✭✭Fuascailteoir


    Aegir wrote: »
    There are so many Aran jumpers and pog mo thoin tee shirts you need though.

    Do you ever have anything positive to say about the country or is it just always sneery spiteful comments


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    #29
    whisky_galore
    Registered Users Posts: 15,782 ✭✭✭✭whisky_galore


    tdf7187 wrote: »
    Compared to smartphones and cars? I'd doubt it. What do you have in mind, a naked movement? Don't think that would catch on in this part of the world somehow.

    "According to World Vision Ireland and the Irish Environmental Network, the ‘fast fashion’ industry is the fourth largest cause of environmental pressure."


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    #30
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,765 Mod ✭✭✭✭L1011


    tdf7187 wrote: »
    I also doubt if there is anything fundamentally wrong with the core business of Arcadia apart from its previous owner being a thieving scumbag. .

    Philip Green is still the owner.


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    #31
    Markcheese
    Registered Users Posts: 8,428 ✭✭✭Markcheese


    whisky_galore wrote: »
    "According to World Vision Ireland and the Irish Environmental Network, the ‘fast fashion’ industry is the fourth largest cause of environmental pressure."

    A lot of fast fashion is being bought online , so it'll make little difference ,

    Slava ukraini 🇺🇦



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