FabSwingers.com > Forums > Virus > Debenhams is on the brink of closure.
Debenhams is on the brink of closure.
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By (user no longer on site) OP
over a year ago
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They have already closed 22 stores this year, with a further 28 to shut in 2021 as part of a turnaround plan, is partly down to the virus more so now? They are putting administrators on standby. I feel sorry for their workers as we are facing a tough economical time ahead of us as well. |
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By (user no longer on site) OP
over a year ago
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"its been in trouble for years so no real surprise ... retail on the high street will be hit very hard  "
That is right it have been that too, could one of the reasons also be that they dont keep up of what is happening around them, such as not taking their business online as most people do their shopping there? Yes the high street could be quite empty soon if more shops closes too. |
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By *ty31Man
over a year ago
NW London |
"Who would of though that this super giant could close?"
We've seen over recent years that no high street giant is too big to fail, Woolworths has gone for good and House of Fraser needed saving by Sports Direct.
I hope that Debenhams pulls through, a lot of people depend on them for work (both employees and supply chain). Especially with a recession looming we need all the employers and businesses possible. |
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By (user no longer on site)
over a year ago
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The Debanhams in the Birmingham Bull Ring is over priced. It's just an upmarket Woolworths so It's no surprise they are failing. If high street shops don't evolve they will go bust. |
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"Who would of though that this super giant could close?
We've seen over recent years that no high street giant is too big to fail, Woolworths has gone for good and House of Fraser needed saving by Sports Direct.
I hope that Debenhams pulls through, a lot of people depend on them for work (both employees and supply chain). Especially with a recession looming we need all the employers and businesses possible."
High street stores have been struggling for a long time they had less sales at Xmas than previous years.
It's of no surprise that large companies will collapse. They rely on public trade and when their customers have no funds to spend well that means less business. When they don't sell goods then suppliers won't get their money either. It's a pyramid of wealth not a cycle if it doesn't go around then it all stops at the top.
This is why distribution of wealth is so important but these large companies sit on profit rather than send it down the ranks. Those at the bottom can't afford to spend so those at the top will not get profits.
Paying fairer wages means the whole economy benefits, yet they still insist on minimum wage which is why many people are the working poor.
Can't expect them to buy brand new items or luxury goods when food, rent/mortgages and other bills are much more important.
If the money doesn't circulate then it's game over for companies. Hopefully they will start to think about the people who do the "grunt" work for pittance. They rely on them for income and rely on them to work to make things sell. It's a no brainer but $$ seems to always come first. |
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I love Debenhams it's a proper shop be such a shame to see it go.
Government happy to bail out bank's,rail, airlines etc... Why not a shop like Debenhams?
Fuck me at this rate we won't need to worry about social distancing as there will be no fucking shop's open in the high streets to visit anyway!!
Just bookmakers and vape shops. |
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By *arksxMan
over a year ago
Leicester / London |
"I love Debenhams it's a proper shop be such a shame to see it go.
Government happy to bail out bank's,rail, airlines etc... Why not a shop like Debenhams?
Fuck me at this rate we won't need to worry about social distancing as there will be no fucking shop's open in the high streets to visit anyway!!
Just bookmakers and vape shops."
Because those industries are key to any counties infrastructure economy and supply.
As others have said... Debenhams is an upmarket woollies.
Hopefully the staff pull through this but their demise has been on cards for years. |
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By (user no longer on site)
over a year ago
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"Is Debenham's a 'proper' shop? Or do they let out bits of each floor to other companies, like a franchised operation?"
It’s full of make up counters and perfume counters , the clothes are not trendy enough, they are like a mid market marks n Spencer’s , out of date |
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By (user no longer on site)
over a year ago
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My first job was at Debenhams. I think it all went wrong when everyone had to reapply for their jobs at about 1/2 their old wage. You can imagine the consequence. |
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"I love Debenhams it's a proper shop be such a shame to see it go.
Government happy to bail out bank's,rail, airlines etc... Why not a shop like Debenhams?
Fuck me at this rate we won't need to worry about social distancing as there will be no fucking shop's open in the high streets to visit anyway!!
Just bookmakers and vape shops."
Kind of this really ^^^ even I, Chris, who doesn’t like shopping, quite liked Debenhams, seemed to have a better range than most, some of it very good quality. |
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This is the second time they've gone into administration in the last couple of years.
There are only so many lifelines a business can be thrown before it goes under.
Although Covid hasn't helped any, they were already in trouble beforehand. |
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By *azmar62Couple
over a year ago
Hinckley |
Superstore who go broke, do so because of mostly shareholders greed which keeps their prices to high, if they were to come off that cloud they’re sitting on and think about the consumer they might get more people through the door! Makes economic sense and will itself generates more profit. |
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"Reading between the lines, i think Debenhams owners would rather close than mike ashley buy them out! "
Yes.
Sad attitude, especially for the 22,000 staff who might stand a chance if Ashley bought the business
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