House of Fraser / Debenhams

More
01 Oct 2018 21:46 #101 by seesaw50
Replied by seesaw50 on topic House of Fraser / Debenhams
Means business then..anybody think he's about to offload the Mags....now that was a protest on Saturday

To have been born Cumbrian
is to have won the lottery of life !

Please Log in or Create an account to join the conversation.

More
02 Oct 2018 06:14 - 02 Oct 2018 06:18 #102 by carwash
Replied by carwash on topic House of Fraser / Debenhams

seesaw50 wrote: Means business then..anybody think he's about to offload the Mags....now that was a protest on Saturday


NUFC can be anyone's if they can find £300 million to pay for it. Meanwhile Ashley will be perfectly happy to finish in 17th and collect his 'licensing income' from the Newcastle United brand.

The Debenhams situation is very interesting. Mike Ashley owns 29% which is enough to block a special resolution to issue more shares to investors to raise cash. Credit insurers are now withdrawing cover for suppliers to Debenhams forcing it to pay up front for new stock. Debenhams have a Danish investment they can sell to stay alive but it looks as if Ashley is biding his time and looking to cherry pick the best stores when the cash eventually runs out. He'll then merge them with the 20 or so surviving HOF stores to create a strong department store chain.

You have to give Mike Ashley credit. He is absolutely ruthless and crushes anyone in his way.
Last edit: 02 Oct 2018 06:18 by carwash.
The following user(s) Liked this post:: CCU

Please Log in or Create an account to join the conversation.

More
02 Oct 2018 09:00 #103 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic House of Fraser / Debenhams

carwash wrote:

seesaw50 wrote: Means business then..anybody think he's about to offload the Mags....now that was a protest on Saturday


NUFC can be anyone's if they can find £300 million to pay for it. Meanwhile Ashley will be perfectly happy to finish in 17th and collect his 'licensing income' from the Newcastle United brand.

The Debenhams situation is very interesting. Mike Ashley owns 29% which is enough to block a special resolution to issue more shares to investors to raise cash. Credit insurers are now withdrawing cover for suppliers to Debenhams forcing it to pay up front for new stock. Debenhams have a Danish investment they can sell to stay alive but it looks as if Ashley is biding his time and looking to cherry pick the best stores when the cash eventually runs out. He'll then merge them with the 20 or so surviving HOF stores to create a strong department store chain.

You have to give Mike Ashley credit. He is absolutely ruthless and crushes anyone in his way.


2O House of Fraser stores? I thought hed saved all but 8 where the landlords wouldn't play ball leaving about 50

Please Log in or Create an account to join the conversation.

More
20 Oct 2018 09:47 #104 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Looks like Kendall’s on Deansgate in Manchester is a big name victim of the re-organisation:


Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
22 Oct 2018 10:14 #105 by CCU
Replied by CCU on topic House of Fraser / Debenhams
In the news that Debenhams are to possibly close 1 in 3 stores of its 166 currently open. Books being tidied up ready for Sports Direct to possibly make an acquisition. The business is valued at a mere £110m at present.

If that did happen, then surely Ashley would be combining Debenhams and House of Fraser into one ‘super department store’?

Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
22 Oct 2018 17:57 - 22 Oct 2018 17:59 #106 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic House of Fraser / Debenhams

CCU wrote: Looks like Kendall’s on Deansgate in Manchester is a big name victim of the re-organisation:


Looks like it might be saved it appears councillor Karney sent the councils boys round to the property's owners gaff over the weekend who proceeded to point out the error of their ways in not reducing the rent for that nice Mr Ashley
Last edit: 22 Oct 2018 17:59 by NORTHERNSOUL.

Please Log in or Create an account to join the conversation.

More
25 Oct 2018 09:40 #107 by CCU
Replied by CCU on topic House of Fraser / Debenhams
You can almost hear Ashley hovering...


Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
30 Oct 2018 18:43 #108 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Evans Cycles added to the Sports Direct stable today:


Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
31 Oct 2018 08:17 #109 by Mush
Replied by Mush on topic House of Fraser / Debenhams
Another one to avoid then.

Sent from my ANE-LX1 using Tapatalk

Please Log in or Create an account to join the conversation.

More
03 Dec 2018 16:50 #110 by carwash
Replied by carwash on topic House of Fraser / Debenhams
Mike Ashley has been appearing before a parliamentary select committee. Some classic stuff.

" It's not Debenhams' fault the high street is f.. dying" :-D

Please Log in or Create an account to join the conversation.

More
03 Dec 2018 23:19 #111 by Flatcap
Replied by Flatcap on topic House of Fraser / Debenhams
No, it's the councils with sky high business rates, parking charges and gestapo traffic wardens.
No wonder customers are going to free parking retail parks and buying on-line.

Please Log in or Create an account to join the conversation.

More
04 Dec 2018 08:19 - 04 Dec 2018 08:38 #112 by seesaw50
Replied by seesaw50 on topic House of Fraser / Debenhams
Yes high Business Rates are a factor to company profits, but shops should look at what they sell...too many selling the same type of stuff. They need to have a rethink on the imported tat, especially clothes, or take the hit on profits and accept things have changed.

(Talking about National chains not independents obviously)

To have been born Cumbrian
is to have won the lottery of life !

Last edit: 04 Dec 2018 08:38 by seesaw50.

Please Log in or Create an account to join the conversation.

More
04 Dec 2018 09:09 - 04 Dec 2018 09:18 #113 by CCU
Replied by CCU on topic House of Fraser / Debenhams

NORTHERNSOUL wrote:

CCU wrote: Looks like Kendall’s on Deansgate in Manchester is a big name victim of the re-organisation:


Looks like it might be saved it appears councillor Karney sent the councils boys round to the property's owners gaff over the weekend who proceeded to point out the error of their ways in not reducing the rent for that nice Mr Ashley


Noticed at the Weekend that it’s been saved:


Win or Lose, Up The Blues!
Last edit: 04 Dec 2018 09:18 by CCU.

Please Log in or Create an account to join the conversation.

More
04 Dec 2018 09:18 #114 by CCU
Replied by CCU on topic House of Fraser / Debenhams

CCU wrote: Absolutely zero surprise these rumours have started!


From Ashley’s Select Committee appearance...

He also hinted a long-suggested tie-up between Debenhams and House of Fraser could still be on the cards. "I told them to work together," he said. "They should work together."

How long we giving it before it’s announced?!

bit.ly/2RDqarO

Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
10 Jan 2019 22:17 - 10 Jan 2019 22:17 #115 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Tightening the noose!


Win or Lose, Up The Blues!
Last edit: 10 Jan 2019 22:17 by CCU.

Please Log in or Create an account to join the conversation.

More
07 Mar 2019 19:09 #116 by carwash
Replied by carwash on topic House of Fraser / Debenhams
Mike Ashley has requisitioned a general meeting at Debenhams to sack all the other directors bar one and appoint himself to the board. If successful he will step down from the board of Sports Direct.

Interesting times!!

Please Log in or Create an account to join the conversation.

More
27 Mar 2019 13:33 #117 by CCU
Replied by CCU on topic House of Fraser / Debenhams

Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
06 Apr 2019 20:20 #118 by CCU
Replied by CCU on topic House of Fraser / Debenhams

Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
09 Apr 2019 11:17 - 09 Apr 2019 11:17 #119 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Higher bid of £200m knocked back overnight. Mikey boy won’t be a happy bunny! Full steam ahead for a relaunched HoF to bulldoze the remaining Debenhams out of business?!


Win or Lose, Up The Blues!
Last edit: 09 Apr 2019 11:17 by CCU.

Please Log in or Create an account to join the conversation.

More
09 Apr 2019 13:07 #120 by Waltero
Replied by Waltero on topic House of Fraser / Debenhams
His holding in Debenhams has been wiped out (£150 million-ish) so I'd be out for revenge

Please Log in or Create an account to join the conversation.

More
09 Apr 2019 16:05 #121 by NORTHERNSOUL
Replied by NORTHERNSOUL on topic House of Fraser / Debenhams

Waltero wrote: His holding in Debenhams has been wiped out (£150 million-ish) so I'd be out for revenge


Aye sounds like the property owners weren't so keen on the 3 year rent holiday while he turned the company round.

Mind you I can't see some of them being happy when they find out its the stores in their properties that their new mates are planning to close.

Ashley's plan was to keep virtually all of them open by vastly reducing their operating costs and considering converting the others to HOF where it was possible.

I was told a couple of weeks ago why hes so keen on stores that operate a concession model and is so simple but clever.

Please Log in or Create an account to join the conversation.

More
09 Apr 2019 23:11 #122 by Vogel
Replied by Vogel on topic House of Fraser / Debenhams
Before three private equity companies bought Debenhams it used to own not rent its stores. After three years of their ownership it was sold on for what they paid for it but with “every last penny having been squeezed from it”. It has never recovered, was left saddled with over £1 billion debt and a chronic lack of investment. While the private equity lot trousered over £1billion. How many of the 25000 employees will now pay the price.

Please Log in or Create an account to join the conversation.

More
09 Apr 2019 23:27 #123 by DeckchairBlue
Replied by DeckchairBlue on topic House of Fraser / Debenhams
One of their CEO's saw selling off the stores they had as an easy way to boost their cash at hand. They then signed leases which increased year in year, apparantly some stores rent was stupidly high.

Please Log in or Create an account to join the conversation.

More
09 Apr 2019 23:38 #124 by munchymagic
Replied by munchymagic on topic House of Fraser / Debenhams
Brexit has a lot to answer for!

Please Log in or Create an account to join the conversation.

More
10 Apr 2019 09:11 #125 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Couple of interesting pieces on the BBC Business pages regarding Debenhams.

The first suggests a certain Mr Day may be interested:



The second about Mr Ashley and his attempts to buy:


Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
10 Apr 2019 13:29 #126 by Laffy
Replied by Laffy on topic House of Fraser / Debenhams
I still think MA will buy it-Board are pretty much following what MA would do-screw the landlords and unsecured creditors and of course the equity.

Amazing how debt can ride roughshod over equity-you can have all the Agreements in place but ultimately if you can’t maintain the debt covenants, equity becomes valueless overnight.

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 10:42 #127 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Another Ashley v Day H2H!


Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 10:54 #128 by heilkmoon
Replied by heilkmoon on topic House of Fraser / Debenhams
Was just thinking earlier that Day's model of ownership at CUFC is very similar to Ashley's at Newcastle.

Just do enough to keep the club afloat in their respective divisions at minimal cost.

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 11:40 #129 by pacirv
Replied by pacirv on topic House of Fraser / Debenhams
Ashley is bad news.

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 15:33 #130 by franksidebottom
Replied by franksidebottom on topic House of Fraser / Debenhams

heilkmoon wrote: Was just thinking earlier that Day's model of ownership at CUFC is very similar to Ashley's at Newcastle.

Just do enough to keep the club afloat in their respective divisions at minimal cost.


CUFC are haemorrhaging money and have been for years, Day is in the process of turning this around. Newcastle are making Ashley money.

“Yeah, I know of Barry. Bit of a fantasist” - John Courtenay 2003

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 19:08 #131 by carwash
Replied by carwash on topic House of Fraser / Debenhams
Sports Direct bought Jack Wills for nearly £13 million. I hope Ashley takes the brand down market just to piss off all the yachties who have bought all the overpriced gear.

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 20:04 #132 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Was it upmarket?!

Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
05 Aug 2019 20:59 #133 by carwash
Replied by carwash on topic House of Fraser / Debenhams

CCU wrote: Was it upmarket?!


I think you're right as always CCU. It's already moved down market from where it started as a brand for pretentious yachties. Probably why it failed.

Please Log in or Create an account to join the conversation.

More
11 Aug 2019 19:50 #134 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Interesting article on Carlisle City Centre in general:

www.newsandstar.co.uk/news/17827497.carl...flying-high-decline/

Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
10 Sep 2019 07:43 #135 by CCU
Replied by CCU on topic House of Fraser / Debenhams
Links of London in Ashley’s sights:


Win or Lose, Up The Blues!

Please Log in or Create an account to join the conversation.

More
10 Sep 2019 08:22 #136 by carwash
Replied by carwash on topic House of Fraser / Debenhams
I was reading that when Ashley buys these retail basket cases out of administration he tells landlords that he won't pay any rent but he'll save them the business rates they'd have to pay if the shop was empty. Some places this negotiating strategy works. Meanwhile he can stuff House of Fraser with the brands like Jack Wills as other concessions walk away.

Please Log in or Create an account to join the conversation.

More
10 Sep 2019 11:12 #137 by Laffy
Replied by Laffy on topic House of Fraser / Debenhams
Mike Ashley is a good poker player and realises something is only worth what someone is prepared to pay for it.An empty shop in a poor location has negative value because of the rates and service charge liability still being due.

I still think his long term plan with HOF is to close them all after he has shifted all the stock

Please Log in or Create an account to join the conversation.

More
10 Sep 2019 20:12 #138 by seesaw50
Replied by seesaw50 on topic House of Fraser / Debenhams
Shifted all the stock??? He's actually filling the Carlisle store with his Sports Direct stock.

To have been born Cumbrian
is to have won the lottery of life !

Please Log in or Create an account to join the conversation.

More
11 Sep 2019 06:59 #139 by Laffy
Replied by Laffy on topic House of Fraser / Debenhams
It’s common knowledge he bought nearly a billion quids worth of HOF stock for £90m.

Please Log in or Create an account to join the conversation.

More
11 Sep 2019 12:49 #140 by Flatcap
Replied by Flatcap on topic House of Fraser / Debenhams
At the moment 18 clothing shops are closing every week in Britain. That is greater than the number of pubs closing.
Do not be surprised if Phillip Day starts to feel the pressure building on his business.

Please Log in or Create an account to join the conversation.

Time to create page: 0.470 seconds
Website and all content © Copyright 2019 TheCumbrians.net. All Rights Reserved.