What company is next to go bust?
- Thread starter Ricochet J
- Start date
No real drama at M&S; they're just trimming down a few unprofitable stores during an economic downturn. Standard industry practice.
Most of the food outlets they're closing were opened during the past 3 years; they're not core business stores, and the company will be better of without them.
Most of the food outlets they're closing were opened during the past 3 years; they're not core business stores, and the company will be better of without them.
Not really surprised about the M&S Food stores closing down, as to be honest I never saw how they could turn over a good profit and were only cashing in on the increase in places trying to get your lunch money. The fact that they are only closing 2 main stores seems very minor to me - I wouldn't be surprised to see store closures on non profitable branches at any time really. However having said all that if they close more main stores further down the line then that would certainly be a bad sign...
Soldato
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Why? Everyone is thinking "Credit Crunch, must cut back on spending" and so crossing M&S off their shopping list.
Their food is overpriced.
I always thought that but recently my parents have bought 3-4 electrical items in there (cameras etc) and they got them there because they were as cheap as online stores. I think as the person further up said it's because they only sell the better brands that people think they are expensive.
Tesco on the other hand are the opposite, their electrical stuff seems cheaper, but that's only because they are no name brands, when you look at the occasional well known brand they are actually a huge rip off.
Soldato
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I sort of see the prices at M&S as "lazy tax", there's nothing there you couldn't do yourself (except your sushi, damn you.
).I dunno, they'd have to make something bloody tasty before they beat the wee independent sandwich shop just up the road from my work.
But its expensive at a time when people don't want to spend money, and are counting their pennies. Mostly because they've nothing else to worry about, but that's the way people are.
I don't do it personally, my incomings and outgoings haven't changed a whole lot in two years (outgoings have gone down
), so I find it a bit hard to get my head round this sudden drop of spending by people.
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Soldato
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Not bust, but chapter 11! Nortel! Not good as far as the work im in 
Also remember that most M&S shopes are located on the high streets unlike Asda and Tesco stores which cost more as well.
I do not normalny shop there but my bro sometimes brings some wicked ready meals, soo much tastier that any other supermarket ones, i suppose you pay more for the food so they can spend more on it, and of course not all items/meals are better quality that from a normal supermarket.
Also I used to get lunch from M&S for over a year and never seen crazy kids with parrents shopping there, or some chavs etc screaming and running like crazy, also staff is extremly polite there.
Source?
Don't think this has been posted yet.
Next victim: http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article5501968.ece
Next victim: http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article5501968.ece
I thought this was announced way before the 'credit crunch' - swear it was 2005 or 2006 when currys said they would let the lease run out on a number of their stores? Maybe its just a coincidence, as a number have people have pointed out, they apparently have a decent cash reserve.