Tesco next down the pan?

[Moderator]

I am sure that is a thread about Tescos and that there is a dedicated thread discussing the decline of the High Street and physical retail.

It is a healthy 95 96 page thread entitled 'Tesco next down the pan?’ started over two years ago.

Clearly Tesco wasn’t the next (or the next or even the next or the next after that) so until it obliges by going down the pan it seems not unreasonable to discuss other retail businesses that are actually (or likely to be) the next down the pan.

The other option would have been to read @exbluejob ‘s musings, perhaps offer an opinion (the OP didn’t actually ask a question so obviously didn’t require any definitive answers) and then let the thread lie dormant for however many years it is before Tesco croaks.

With a lot of big name companies going to the wall I wonder if Tesco is in the firing line. Closed down Tesco direct, got an email yesterday saying the Tesco Wine By The Case is closing. Our local (very large) Tesco seems to have a lot of fairly empty shelves, made me wonder.

 

[ExREME.TECH]

It is a healthy 95 96 page thread entitled 'Tesco next down the pan?’ started over two years ago.

Clearly Tesco wasn’t the next (or the next or even the next or the next after that) so until it obliges by going down the pan it seems not unreasonable to discuss other retail businesses that are actually (or likely to be) the next down the pan.

The other option would have been to read @exbluejob ‘s musings, perhaps offer an opinion (the OP didn’t actually ask a question so obviously didn’t require any definitive answers) and then let the thread lie dormant for however many years it is before Tesco croaks.

It has predicted lots of other companies tits up

 

[Moderator]

It has predicted lots of other companies tits up

I sort of said that...

Clearly Tesco wasn’t the next (or the next or even the next or the next after that) so until it obliges by going down the pan it seems not unreasonable to discuss other retail businesses that are actually (or likely to be) the next down the pan.

 

[ExREME.TECH]

I sort of said that...

Sorry mate I was also reading this , and it won

Carrot - Wikipedia

en.wikipedia.org

 

[rampant]

This law comes into force as of tomorrow

HMRC to become a preferential creditor in insolvencies from 1 December 2020 | Reading solicitors, corporate, property and family advice | Field Seymour Parkes

Following the Finance Act 2020 gaining Royal Assent on 22 July 2020 HMRC will become a preferential creditor in insolvencies with effect from 1 December 2020.

www.fsp-law.com

 

[bobthebuilder]

This law comes into force as of tomorrow

HMRC to become a preferential creditor in insolvencies from 1 December 2020 | Reading solicitors, corporate, property and family advice | Field Seymour Parkes

Following the Finance Act 2020 gaining Royal Assent on 22 July 2020 HMRC will become a preferential creditor in insolvencies with effect from 1 December 2020.

www.fsp-law.com

I think this could make a significant difference to the number of insolvencies, particularly those trying to renegotiate leases and finance agreements.

Why would a creditor approve a rescue deal in which his or her investment (whether cash or foregone income) effectively just underwrites a preferential position for HMRC?

This was probably bad law before COVID. It’s insane today.

 

[Moderator]

Debenhams set to close putting 12,000 jobs at risk

The move comes after the failure of last-ditch efforts to rescue the ailing department store chain.

www.bbc.co.uk

Following and as an immediate consequence of Arcadia‘s entry into administration, Debenhams (already in administration since last April) will close down.

It is no longer a workable proposition for would be buyer, JD Sports.


124 stores / 12,000 jobs. John Lewis next?

 

[bobthebuilder]

John Lewis next?

Oh no, not another one with evil owners who won’t save the jobs of the poor downtrodden workers?

 

[Moderator]

Oh no, not another one with evil owners who won’t save the jobs of the poor downtrodden workers?

What are you on about this time?

 

[bobthebuilder]

What are you on about this time?

John Lewis a mutual. It’s owned by its employees. If Philip Green should be dipping into his pocket to rescue Arcadia, surely the same logic should apply to John Lewis

 

[Moderator]

John Lewis a mutual. It’s owned by its employees. If Philip Green should be dipping into his pocket to rescue Arcadia, surely the same logic should apply to John Lewis

You tell me? In a comment regarding the reported demise of Debenhams I posed the question, 'who’s next, John Lewis?' to which you replied with:

Oh no, not another one with evil owners who won’t save the jobs of the poor downtrodden workers?

Then you wibble on with:

John Lewis a mutual. It’s owned by its employees. If Philip Green should be dipping into his pocket to rescue Arcadia, surely the same logic should apply to John Lewis

I really have no idea what, in your mind, the connections are between Philip Green, Debenhams and John Lewis. Further, I have no idea who mentioned John Lewis’s pension funding or why it should be in anyway connected with Philip Green.


Who actually said Philip Green should be dipping into own pocket? Who mentioned John Lewis pension funding? My comment was purely about the future of department stores.

In respect of PG & pension fund deficits my comments were:

Unlikely he’ll be bunging a wodge of wonga into the deficient pension fund this time round.

and

I cant see him getting his fingers burned twice on pension deficits.

Strangely, no mention anywhere, other than by you of evil owners who won’t save jobs, downtrodden workers or John Lewis pension funding.

I really fail to see the connection or relevance of either your comments quoted above to anything. Perhaps that’s why you are a global captain of industry and I am not?

 

[wheel]

It is a well known fact that @bobthebuilder is never wrong. He is an SME of business and Comerce. Ebuisness. Yachting, Automotive, and Formula 1 to name but a few. So all of you stop arguing with him it is pointless.

Anyway back to Tesco , how long before they start to scale back their superstore holdings and move to Lidle - Aldi size stores ?. Also how is there Jacks project doing not heard much about that little gem?.

 

[wilfred]

It is a well known fact that @bobthebuilder is never wrong. He is an SME of business and Comerce. Ebuisness. Yachting, Automotive, and Formula 1 to name but a few. So all of you stop arguing with him it is pointless.

Anyway back to Tesco , how long before they start to scale back their superstore holdings and move to Lidle - Aldi size stores ?. Also how is there Jacks project doing not heard much about that little gem?.

It's not good form to mention Jacks.

Sent from my SM-T510 using Tapatalk

 

[bobthebuilder]

You tell me? In a comment regarding the reported demise of Debenhams I posed the question, 'who’s next, John Lewis?' to which you replied with:



Then you wibble on with:


I really have no idea what, in your mind, the connections are between Philip Green, Debenhams and John Lewis. Further, I have no idea who mentioned John Lewis’s pension funding or why it should be in anyway connected with Philip Green.


Who actually said Philip Green should be dipping into own pocket? Who mentioned John Lewis pension funding? My comment was purely about the future of department stores.

In respect of PG & pension fund deficits my comments were:


and




Strangely, no mention anywhere, other than by you of evil owners who won’t save jobs, downtrodden workers or John Lewis pension funding.

I really fail to see the connection or relevance of either your comments quoted above to anything. Perhaps that’s why you are a global captain of industry and I am not?

What a complete and unnecessary bite to what was an, albeit weak, attempt at humour.

 

[Moderator]

What a complete and unnecessary bite to what was an, albeit weak, attempt at humour.

Yeah, righto. Humour you say... of course it was. Here’s another weak attempt at humour...

... Once again, you thought you was being oh so very clever but hey, ‘evil employers, downtrodden workers' followed by a puerile comment on JL pensions?

Side splitting stuff there Bob.

 

[wheel]

It's not good form to mention Jacks.

Sent from my SM-T510 using Tapatalk

Oh a case of I'm Not Alright Jack

 

[bobthebuilder]

Yeah, righto. Humour you say... of course it was. Here’s another weak attempt at humour...

... Once again, you thought you was being oh so very clever but hey, ‘evil employers, downtrodden workers' followed by a puerile comment on JL pensions?

Side splitting stuff there Bob.

I admitted it was a weak attempt.

But the underlying point was valid; why is Green getting so much abuse for not saving Arcadia when any number of other businesses have gone under without their owners getting the same grief? There’s was an article in yesterday’s DT asking that very question.

John Lewis is like all of the other British high street brands; largely bypassed by the e-commerce revolution. It doesn’t matter whether they’re owned by a rapacious billionaire asset, are publicly traded, mutually owned, held by private equity or still in the hands of their entrepreneur founder; they’ve all been bypassed.

 

[RangdoOfArg]

I admitted it was a weak attempt.

But the underlying point was valid; why is Green getting so much abuse for not saving Arcadia when any number of other businesses have gone under without their owners getting the same grief? There’s was an article in yesterday’s DT asking that very question.

John Lewis is like all of the other British high street brands; largely bypassed by the e-commerce revolution. It doesn’t matter whether they’re owned by a rapacious billionaire asset, are publicly traded, mutually owned, held by private equity or still in the hands of their entrepreneur founder; they’ve all been bypassed.

My opinion: Sir Philip Green has a made a shedload of money. And good for him, I’ll never begrudge anyone making a load of money. That’s what businessmen do.
Being knighted just for being acquisitive was a bad move for HMG. As a hungry type with an obvious eye on making lots of money, he had his stall set out. And it has showed. Giving people honours for making money, regardless, is shady. Especially when we know that it’s all in someone else’s name.
It looks like an enterprise Sir Phil (and others) have been milking for some time, with the main eye on the cash they can take.
If you are a true evil employer, call it, and make the money, pay your taxes, and let your employees know the true deal.
Seems Sir Phil has been existing on years of (alleged) flannel towards his companies, probably with (alleged) collusion of members who have also seen the books. Hopefully all will be revealed.
An absolute tragedy for the people who worked for Sir Phil’s companies, and believed in the company vision.

 

[Moderator]

I admitted it was a weak attempt.

But the underlying point was valid; why is Green getting so much abuse for not saving Arcadia when any number of other businesses have gone under without their owners getting the same grief? There’s was an article in yesterday’s DT asking that very question.

John Lewis is like all of the other British high street brands; largely bypassed by the e-commerce revolution. It doesn’t matter whether they’re owned by a rapacious billionaire asset, are publicly traded, mutually owned, held by private equity or still in the hands of their entrepreneur founder; they’ve all been bypassed.

The ‘underlying point’ (Philip Green not saving Arcadia and being treated harshly) has the square root of eff all to do with Debenhams finally giving up it’s fingertip grip on survival or its pension fund and nor does it have anything to do with the fortunes of John Lewis or its pension fund.

If you have a point to make about the treatment PG is getting then make your point in its own right rather than furiously back-pedalling when your so called ‘attempt at humour‘ is shown up for the puerile garbage it is.

Your patronising lecture on John Lewis is also quite irrelevant. Is one of your businesses 'Bleedin' Obvious Is Us'?

 

[bobthebuilder]

The ‘underlying point’ (Philip Green not saving Arcadia and being treated harshly) has the square root of eff all to do with Debenhams finally giving up it’s fingertip grip on survival or its pension fund and nor does it have anything to do with the fortunes of John Lewis or its pension fund.

If you have a point to make about the treatment PG is getting then make your point in its own right rather than furiously back-pedalling when your so called ‘attempt at humour‘ is shown up for the puerile garbage it is.

Your patronising lecture on John Lewis is also quite irrelevant. Is one of your businesses 'Bleedin' Obvious Is Us'?

You really are a fucking tool. I’m not back-pedalling isn’t “giving up its fingertip on survival” it’s insolvent. So is Arcadia. And John Lewis as you point out, is not far behind.

So who dips in to save them! Debenhams cant tap their shareholders as they’ve already said no. The Green’s (more accurately their holding company) won’t put more good money in to fund Arcadia. So whose going to put cash into John Lewis? Their rich shareholders?

You really need to look hard at yourself. A one line comment from me has triggered two long, abusive, ad hominem posts. Generally the behaviour of someone who hasn’t got anything intelligent to say.