Arcadia group collapse.

28-11-2020 1:23am

buried wrote: »

Looks like they were already getting rid of Irish employees before all this 'covid' noise raired its head anyways, so looks like the trajectory worked out for them well. I'm actually surprised there was only that amount considering their presence on this island.

What Irish products are you talking about? Because the only ones I'm interested and care about are the ones we actually make for ourselves.

You do realise that the Acadia group is a plc and doesn't have shareholders don't you?

You do realise that they have already sold off some brands that they owned that accounts for the difference in staff numbers between 2017 & 2018?

You do know that no Irish retailer such as Dunnes or even the smallest independent retailer in your locality actually purchases and sells clothing, footwear etc made in Ireland?

L1011 · 28-11-2020 1:26am

DubInMeath wrote: »

You do realise that the Acadia group is a plc and doesn't have shareholders don't you?

All companies have shareholders, it may be one person but the core of company registration is recording share capital and shareholders.

However, specifically a Plc is a public limited company meaning multiple shareholders and tradeable shares. Arcadia are an unlisted Plc but they absolutely do have shareholders.

un5byh7sqpd2x0 · 28-11-2020 1:29am

DubInMeath wrote: »

You do realise that the Acadia group is a plc and doesn't have shareholders don't you?

You may go back and look at your company formation book again. PLCs have _the most_ shareholders out of all the types of companies. Public Limited Company. All stock exchange listed companies, for example, are by definition PLCs. :rolleyes:

DubInMeath wrote: »

You do know that no Irish retailer such as Dunnes or even the smallest independent retailer in your locality actually purchases and sells clothing, footwear etc made in Ireland?

Another broad statement that's absolute bollocks.

28-11-2020 1:30am

L1011 wrote: »

All companies have shareholders, it may be one person

However, specifically a Plc is a public limited company meaning multiple shareholders and tradeable shares. Arcadia are an unlisted Plc but they absolutely do have shareholders.

Apologies for the mistake, and duly noted but not the type that buried was claiming as would be seen re a stock exchange type, as being the cause of their woes.

buried · 28-11-2020 1:31am

DubInMeath wrote: »

You do realise that the Acadia group is a plc and doesn't have shareholders don't you?

You do realise that they have already sold off some brands that they owned that accounts for the difference in staff numbers between 2017 & 2018?

You do know that no Irish retailer such as Dunnes or even the smallest independent retailer in your locality actually purchases and sells clothing made in Ireland?

A PLC is owned by its shareholders Dub, that could also mean it has one single shareholder but you can bet your arse it has one. That's how the f**king thing exists in the first place.

You're mad on Dunnes and clothes. I couldn't give a monkeys twat about either. I don't go to Dunnes and I have enough clothes. What matters to me is food and Ireland makes enough for the world eight times over.

28-11-2020 1:33am

buried wrote: »

A PLC is owned by its shareholders Dub, that could also mean it has one single shareholder but you can bet your arse it has one. That's how the f**king thing exists in the first place.

You're mad on Dunnes and clothes. I couldn't give a monkeys twat about either. I don't go to Dunnes and I have enough clothes. What matters to me is food and Ireland makes enough for the world eight times over.

What has food got to do with the Acadia group and the thread?
Are we going on a rant about spaghetti soon?

LETHAL LADY · 28-11-2020 1:36am

I actually like the Dorothy Perkins and Miss Selfridge clothing ranges. Decent enough quality and prices but the dog on the street could predict their demise. They don't (in my opinion) seem to have perfected their online shopping presence. Very same ol', same ol' sites without mass appeal.

I'd say the likes of Next, River Island and New Look will be in the same boat soon. None of their stores/sites are offering a great shopping experience either. Tis like they've given up already tbh.

Online presence is one thing but their stores are just a pretentious and overpriced and less chaotic version of Pennys. Worked well for them until Brexit, the Pandemic etc.,etc.,

People will above all vote with their pockets and during these uncertain times Pennys sales strategy seem to have it licked for the masses. Too massive for online sales and cheap enough for mass footfall in their stores. Simple when you think about it.

buried · 28-11-2020 1:37am

DubInMeath wrote: »

What has food got to do with the Acadia group and the thread?

If you want to live in your own community and hope it thrives, then base your whole effort into what your community can make for itself and support it. Not clothes made in the back end of Bangladesh for 2 cents then sold for 20 euros or anything else hoofed to make a profit for a entity that doesn't give a $hit about your own community or well-being.

28-11-2020 1:38am

Luella Flabby Festival wrote: »

Another broad statement that's absolute bollocks.

Really what jeans, shirts etc do they sell that are made in Ireland?

Atlantic Dawn · 28-11-2020 1:46am

buried wrote: »

If you want to live in your own community and hope it thrives, then base your whole effort into what your community can make for itself and support it. Not clothes made in the back end of Bangladesh for 2 cents then sold for 20 euros or anything else hoofed to make a profit for a entity that doesn't give a $hit about your own community or well-being.

Realistically in Ireland if a jumper was to be handmade and you were to pay minumum wage to a highly skilled person it would need to retail for circa €150, very few willing to pay anywhere near this.

28-11-2020 1:49am

buried wrote: »

If you want to live in your own community and hope it thrives, then base your whole effort into what your community can make for itself and support it. Not clothes made in the back end of Bangladesh for 2 cents then sold for 20 euros or anything else hoofed to make a profit for a entity that doesn't give a $hit about your own community or well-being.

What large Irish clothes retailer gives a sh1t about the local community?

Take it that all your clothes, footwear, electronics including the device your using to post on here etc are made locally?

Take it that if a farmer, that your tractor and other machinery is made locally?

Don't get me wrong, I'm all for supporting the little guy that makes their own stuff, but if it was viable then I'd be making my living from my furniture and not having to worry about some bigger Irish or foreign company buying in mass produced pieces that they can sell wholesale.

buried · 28-11-2020 1:55am

Atlantic Dawn wrote: »

Realistically in Ireland if a jumper was to be handmade and you were to pay minumum wage to a highly skilled person it would need to retail for circa €150, very few willing to pay anywhere near this.

But that is the sort of mindframe we need to go back to AD. People are soon going to have to realise the era of cheap labour for clothes will soon be over, the era of cheap everything is going to be over. Its going to be the case in the very very near future, and very soon that nations are going to have to rely on what they can make for themselves. Skills that can be utilised must be utilised and equally they must be traded within the immediate community. I'm not being dramatic man, this is what is coming down the line. You think once we reach peak oil, with all the carbon footprint talk everybody is being rammed down their throats we can continue on the same trajectory as getting our clothes from the likes of 'arcadia'?

buried · 28-11-2020 1:58am

DubInMeath wrote: »

What large Irish clothes retailer gives a sh1t about the local community?

Take it that all your clothes, footwear, electronics including the device your using to post on here etc are made locally?

Take it that if a farmer, that your tractor and other machinery is made locally?

Don't get me wrong, I'm all for supporting the little guy that makes their own stuff, but if it was viable then I'd be making my living from my furniture and not having to worry about some bigger Irish or foreign company buying in mass produced pieces that they can sell wholesale.

Exactly what I just said to Atlantic Dawn there Dub, we can no longer rely on the globalist shareholder shtick to get us or our kids though the next century. It has to go back the other way. We have to look after ourselves. We can do that with food already, if we have to do it with clothes, then so be it.

whisky_galore · 28-11-2020 2:05am

Guy:Incognito wrote: »

Ok, Im willing to meet people half way on this. Half the population should stop wearing clothes. I vote it should be women

To be fair, womens clothes take up most of any clothing department pretty much anywhere.

Saralace · 28-11-2020 2:05am

I work from home naked the only time I get dressed is to go to lidle

28-11-2020 2:07am

buried wrote: »

Exactly what I just said to Atlantic Dawn there Dub, we can no longer rely on the globalist shareholder shtick to get us or our kids though the next century. It has to go back the other way. We have to look after ourselves. We can do that with food already, if we have to do it with clothes, then so be it.

Where are we going to get the raw materials to make these clothes, or do you see us all in wool and leather, or importing cotton like we did in previous centuries from Asia and America?

Atlantic Dawn · 28-11-2020 2:08am

buried wrote: »

But that is the sort of mindframe we need to go back to AD. People are soon going to have to realise the era of cheap labour for clothes will soon be over, the era of cheap everything is going to be over. Its going to be the case in the very very near future, and very soon that nations are going to have to rely on what they can make for themselves. Skills that can be utilised must be utilised and equally they must be traded within the immediate community. I'm not being dramatic man, this is what is coming down the line. You think once we reach peak oil, with all the carbon footprint talk everybody is being rammed down their throats we can continue on the same trajectory as getting our clothes from the likes of 'arcadia'?

Yes I found out recently the amount of resources required to make a pair of jeans, the water alone required is 10,000 litres for a single pair, insane. Perhaps the key is to ban utter ****e like Tesco or Dunnes own brand jeans and only allow premium brands to come in. Additionally you could ban tools which were of a brutal quality they wasted precious earth resources in their manufacture.

Peak oil is decades away, many new oil fields discovered in the last decade, coupled with fracking it's not going away anytime soon.

The J Stands for Jay · 28-11-2020 2:12am

murpho999 wrote: »

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

It's internet & covid.

A lot of the British retailers have been on the verge of going under for a few years now. This won't be the last.

ChikiChiki · 28-11-2020 2:15am

ILoveYourVibes wrote: »

IMO that happened a long time ago.

EHMMM, how so? Polar opposites.

whisky_galore · 28-11-2020 2:23am

Atlantic Dawn wrote: »

Peak oil is decades away, many new oil fields discovered in the last decade, coupled with fracking it's not going away anytime soon.

So much for Greta and the protesting kids!

Atlantic Dawn · 28-11-2020 2:24am

whisky_galore wrote: »

So much for Greta and the protesting kids!

Yes don't believe the hype

Yyhhuuu · 28-11-2020 2:32am

I'm just wondering if M&S will ditch Ireland, especially if no EU UK trade deal regarding processed ready meal import /export? It would be a huge loss as regards jobs and personally as I buy all my ( non-processed) food there and it is of superior quality to which I have become accustomed.

I think Topshop is the prized asset in the Arcadia group. It will be bough out and survive by a vulture fund. Whether Topshop remains in ROI is also debatable.

Capt'n Midnight · 28-11-2020 3:36am

I've had the best Black Friday bargain ever.

Sir Philip Green sold me Top Shop for a quid!.

Richard Hillman · 28-11-2020 4:57am

The arcadia group stores make up a good chunk of jervis Street shopping centre. Add the demise of Debenhams and the whole of Henry Street has gone kerblunk.

It will be some task in getting somebody to take the space that Debenhams took up on Henry Street, plus the empty units in jervis. Dundrum also lost House of Fraser plus have a few arcadia stores in the centre.

A big change is happening. And a lot of people are out of jobs.

Guy:Incognito · 28-11-2020 6:05pm

Reports saying Mike Ashley is looking at putting 50m in to save the group.

Is Philip Green not a billionaire?

MrMusician18 · 28-11-2020 6:30pm

Guy:Incognito wrote: »

Reports saying Mike Ashley is looking at putting 50m in to save the group.

Is Philip Green not a billionaire?

Why throw good money after bad? Green must think that the writing is on the wall if he's not willing to back his own companies.

Capt'n Midnight · 28-11-2020 6:30pm

Guy:Incognito wrote: »

Is Philip Green not a billionaire?

Of course he is.

Green and his family got more than £580m in dividends, rental payments and interest on loans during their ownership of BHS.

When he sold it for £1 the pensions deficit was £571

11,000 jobs lost.

Back in 2005 he paid himself 4 years worth of Arcadia profits. Or rather for tax avoidance reasons he paid his wife.

Darc19 · 28-11-2020 6:49pm

The day of English "oligarchs" running retail is gone.

They didn't change and far superior retailers from a variety of countries are creating a better retail space.

Philip Greene will not be remembered as a great retailer.

SnazzyPig · 28-11-2020 6:57pm

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.

Reminds me of a quote by, I think, Jeremy Hardy -

-If competition is all about choice why is every High Street the same.

JustAThought · 28-11-2020 6:59pm

I feel sorry for all the people losing their jobs - I havn’t shopped in any of those ‘stores’ for years - overpriced gloryholes and even topshops discount cotton tops lost their allure decades ago. It’ll be nice to see if Grafton St returns to its former exclusive glory or descends into a total orgy of phoneshops.

Maybe if the government wasn’t making a fortune of the business rates based on the commercial value of the properties they might have remaIned viable - maybe not - but that kind of relentless pressure on a business can’t help.

Guy:Incognito · 28-11-2020 7:14pm

JustAThought wrote: »

- overpriced gloryholes

When choosing a glory hole, one should frequent the most expensive establishment one can afford.

Darc19 · 28-11-2020 7:35pm

JustAThought wrote: »

It’ll be nice to see if Grafton St returns to its former exclusive glory or descends into a total orgy of phoneshops.

Thankfully, local planning laws prevent any new fast food or phone shops on grafton street.

anewme · 28-11-2020 9:46pm

very sad to see for the Irish employees.

Many of the longer term employees had the better contracts. The group was just hoping they would leave and be replaced by cheaper employees

I know of 3 pol with them - one had 20 years service followed by 15 and 10 years respectively.

They feel this has been coming for a long time, still a shock though when it hspoend.

They haven't been told not to turn up for work next week.

anewme · 28-11-2020 10:05pm

buried wrote: »

Feel bad for the Irish people working in these outlets myself but at the same time Irish people would do well to wise up to the fact you can no longer rely on foreign companies to provide you with any sort of security of employment. These corporate entities are only here to get what they can get in the short term for their shareholders. This has been the case and an example for the last 30 years. You tie your star to these hoor's wagons, expect the end result. Its been going on for the last 30 years.

Astonishing lack of empathy towards people losing their jobs.

I feel sorry BUT...

...Their own fault because they should have known better.

You are also way off the mark with your pick your battles stance...as Arcadia weathered the 2008 recession, when many Irish companies did not.

The mistake was not to adapt or react to digital age. Could have been deliberate.

Theres no better security with Irish companies. No such thing as job security in any job.

The days of a job for life are long gone.

But dont blame the people who work for a living and rely on the income.

Rubberchikken · 28-11-2020 10:09pm

I couldn't find any sympathy for P Green.
He's shown himself to be an unpleasant individual with shops that sell overpriced tat.
Yes it's sad for the employees but such is life.

anewme · 28-11-2020 10:17pm

Rubberchikken wrote: »

I couldn't find any sympathy for P Green.
He's shown himself to be an unpleasant individual with shops that sell overpriced tat.
Yes it's sad for the employees but such is life.

Not a nice person in any way.

Too pig headed to realise the world was changing and he needed to adapt and not the other way round. The business model was outdated.

I'm sure the people with no income in December share your sentiments that such is life.

Capt'n Midnight · 28-11-2020 10:45pm

anewme wrote: »

The business model was outdated.

Keep the shareholders happy while you milk what you can out of the company and then move on to the next company ?

anewme · 28-11-2020 10:48pm

Capt'n Midnight wrote: »

Keep the shareholders happy while you milk what you can out of the company and then move on to the next company ?

Or retire with more money than you can ever spend in this lifetime.

Ubbquittious · 28-11-2020 10:55pm

It is no harm that these guys go bankrupt and that the rental value of these shops plummet.

The only way to make money in these prime retail locations now is to buy in the cheapest of cheap Chinese sh1t you can find and flog tons of it with massive margins. The owners of the shops are fellas whose great granddad was a cobbler or a cooper 250 years ago and have long since moved to the Bahamas to party all night with a cocktail in each hand. Or else they were sold to some investment corp so no harm their income be reduced to a trickle.

Maybe eventually it will be possible to open a shop for a reasonable rent again and sell decent quality stuff

accensi0n · 28-11-2020 11:02pm

My first thought was "Ah that's a shame, such a cool experience for young kids to play old arcade machines".

Then I read past the thread title and didn't care.

riclad · 29-11-2020 12:19am

Alot of shops will not survive the pandemic, its safer
to shop online, Shops in grafton St rely on high
spending customers like tourists to pay the high rent
There's loads of pc phone shops selling electronic products already
Grafton St wont be saved by shops selling pcs or laptops from china
You can already go to amazon or other websites if u just want to buy cheap electronic products
Even before covid 19 there were UK chain stores
going out of business
I think the landlords will have to reduce the rents in
Grafton St or base the rent on percentage of
retail revenue
This is happening in new York High end shops
are closing down as so many rich people are
leaving NYC and you can buy anything online
now

whisky_galore · 29-11-2020 12:25am

Ubbquittious wrote: »

The only way to make money in these prime retail locations now is to buy in the cheapest of cheap Chinese sh1t you can find and flog tons of it with massive margins. The owners of the shops are fellas whose great granddad was a cobbler or a cooper 250 years ago and have long since moved to the Bahamas to party all night with a cocktail in each hand.

Dead beat descendants of old merchant princes, fcuk them.

anewme · 29-11-2020 12:30am

whisky_galore wrote: »

Dead beat descendants of old merchant princes, fcuk them.

Only a low life would rejoice in people losing their jobs and facing hardship at Christmas.

anewme · 29-11-2020 12:32am

accensi0n wrote: »

My first thought was "Ah that's a shame, such a cool experience for young kids to play old arcade machines".

Then I read past the thread title and didn't care.

Karma has a funny way of biting you and yours.

Stihl waters · 29-11-2020 12:35am

anewme wrote: »

Karma has a funny way of biting you and yours.

You know there's no such thing as karma, it's a makey uppy thing for hippies and cnuts on Facebook

Yyhhuuu · 29-11-2020 12:35am

You might be able to buy online but it's not the same. It's like a Zoom call. What about merchandising. Getting the feel of a product before you buy, trying it on especially shoes etc. I personally would never buy shoes online and would feel the same about clothes in case they didnt fit. Btw I hate shopping for clothes.

bb1234567 · 29-11-2020 1:02am

Our 'main street' in the capital going dark after 6pm because it's all fashion is a sad sight. Good riddance to all those soulless carbon copy rip off shops and let's see a cosy pedestrian street of outdoor eateries/bars/cafes instead

MrMusician18 · 29-11-2020 1:07am

bb1234567 wrote: »

Our 'main street' in the capital going dark after 6pm because it's all fashion is a sad sight. Good riddance to all those soulless carbon copy rip off shops and let's see a cosy pedestrian street of outdoor eateries/bars/cafes instead

How many cafes can a city sustain? Dublin is already over run with them.

bb1234567 · 29-11-2020 1:13am

MrMusician18 wrote: »

How many cafes can a city sustain? Dublin is already over run with them.

Judging by the insane queues at takeaway cafes literally all over the city in Dublin over the last few weeks I'd say a lotttttt

whisky_galore · 29-11-2020 1:54am

anewme wrote: »

Only a low life would rejoice in people losing their jobs and facing hardship at Christmas.

Can you point out exactly where I said that?

Arcadia group collapse.

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