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Post by northlondon83 on Aug 23, 2023 19:17:25 GMT
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Post by northlondon83 on Sept 2, 2023 15:20:05 GMT
Quoting myself here. I've seen Wilko in West Ealing has held an administration sale with items selling for 30-50% off. I wonder whether in the next few weeks or months Wilko will disappear forever. It would be a shame if they did |
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Post by vjaska on Sept 2, 2023 21:10:30 GMT
Quoting myself here. I've seen Wilko in West Ealing has held an administration sale with items selling for 30-50% off. I wonder whether in the next few weeks or months Wilko will disappear forever. It would be a shame if they did I thought an agreement was reached with one of the buyers to buy some of the business after the bid for the whole lot collapsed? |
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Post by southlondon413 on Sept 2, 2023 21:27:00 GMT
Quoting myself here. I've seen Wilko in West Ealing has held an administration sale with items selling for 30-50% off. I wonder whether in the next few weeks or months Wilko will disappear forever. It would be a shame if they did I thought an agreement was reached with one of the buyers to buy some of the business after the bid for the whole lot collapsed? It’s still under discussion with Doug Putman, who famously rescued HMV the second time. He wants to take 300 of the stores and retain the name. Incidentally I went to a Wilko today for the first time in at least a year. Absolute poo sale, went in looking for a bargain and nothing. You think retail businesses would have learnt from the Woolworths collapse which was eerily similar to the Wilko collapse. Perhaps it’s time for a law preventing businesses awarding dividends if a loss is made, verifiable by HMRC of course. |
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Post by vjaska on Sept 2, 2023 21:31:51 GMT
I thought an agreement was reached with one of the buyers to buy some of the business after the bid for the whole lot collapsed? It’s still under discussion with Doug Putman, who famously rescued HMV the second time. He wants to take 300 of the stores and retain the name. Incidentally I went to a Wilko today for the first time in at least a year. Absolute poo sale, went in looking for a bargain and nothing. You think retail businesses would have learnt from the Woolworths collapse which was eerily similar to the Wilko collapse. Perhaps it’s time for a law preventing businesses awarding dividends if a loss is made, verifiable by HMRC of course. That's who it was I was thinking of, thanks for the update  Yeah, I checked the Bromley one out last week and we ended up with just a water bottle  - all just tat being sold in all honesty |
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Post by COBO on Sept 3, 2023 0:01:59 GMT
Now the high street looks terrible.
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Post by rif153 on Sept 3, 2023 6:39:23 GMT
It was very sad to walk past the branch in the Oaks centre in Acton and see the clearance sale. The high street is really in dire straits.
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Post by northlondon83 on Sept 3, 2023 6:51:43 GMT
It was very sad to walk past the branch in the Oaks centre in Acton and see the clearance sale. The high street is really in dire straits. Problem is that more people are shopping online such as on Amazon which is killing the high street. I much prefer to shop in store |
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Post by WH241 on Sept 3, 2023 9:15:40 GMT
I thought an agreement was reached with one of the buyers to buy some of the business after the bid for the whole lot collapsed? It’s still under discussion with Doug Putman, who famously rescued HMV the second time. He wants to take 300 of the stores and retain the name. Incidentally I went to a Wilko today for the first time in at least a year. Absolute poo sale, went in looking for a bargain and nothing. You think retail businesses would have learnt from the Woolworths collapse which was eerily similar to the Wilko collapse. Perhaps it’s time for a law preventing businesses awarding dividends if a loss is made, verifiable by HMRC of course. Went in Wilko yesterday and it reminded me of when Woolworths was closing down. All the vultures were in there and store was an absolute mess.
I think its too late now to save the business. If someone was to buy the company they are going to be left with no stock as the shelf's are pretty empty. If there were to be saved I assume they would temporarily close after any sales finish and them restock / relaunch? I can't see how they can suddenly end the administration sale and go back to trading normally.
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Post by Eastlondoner62 on Sept 3, 2023 9:20:36 GMT
It was very sad to walk past the branch in the Oaks centre in Acton and see the clearance sale. The high street is really in dire straits. Problem is that more people are shopping online such as on Amazon which is killing the high street. I much prefer to shop in store Think it also comes down to ease. Amazon just tends to be easier in most cases. I will miss Wilko, always found their products to be a decent quality and competitive price wise. |
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Post by WH241 on Sept 3, 2023 9:21:07 GMT
It was very sad to walk past the branch in the Oaks centre in Acton and see the clearance sale. The high street is really in dire straits. I am a very old school and do nearly all my shopping in actual shops. I can't believe how companies like Uber Eats and Deliveroo are taking over everything! No matter what shop you go in be in Iceland, Sainsbury or Boots all you hear is the chimes from the ordering system telling staff another order has arrived. I find is very frustrating when the bike drivers come into stores and try to jump the line as they want to get he orders and delivery as quickly as possible.
They say there is no money around but people are happy to sit and home and order sausage rolls from Greggs at overinflated prices and pay a service charge on top of that.
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Post by WH241 on Sept 3, 2023 9:23:07 GMT
Problem is that more people are shopping online such as on Amazon which is killing the high street. I much prefer to shop in store Think it also comes down to ease. Amazon just tends to be easier in most cases. I will miss Wilko, always found their products to be a decent quality and competitive price wise. Amazon are just playing the long game, wipe out the competition then charge what they like when you have nowhere else to go.
Online companies are also getting wise to people that are prolific returners and are starting to charge for sending goods back.
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Post by southlondon413 on Sept 3, 2023 9:52:53 GMT
Think it also comes down to ease. Amazon just tends to be easier in most cases. I will miss Wilko, always found their products to be a decent quality and competitive price wise. Amazon are just playing the long game, wipe out the competition then charge what they like when you have nowhere else to go.
Online companies are also getting wise to people that are prolific returners and are starting to charge for sending goods back.
However in this case it seems Wilko failed to keep up with the other high street discount stores like B&M or Home Bargains. Then of course there is the overall mismanagement of the company as a whole. Whilst I will agree that Amazon has somewhat damaged the high street in this case it has very little to do with the downfall of Wilko. The family mismanaged the business into the ground. |
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Post by WH241 on Sept 3, 2023 10:09:34 GMT
Amazon are just playing the long game, wipe out the competition then charge what they like when you have nowhere else to go.
Online companies are also getting wise to people that are prolific returners and are starting to charge for sending goods back.
However in this case it seems Wilko failed to keep up with the other high street discount stores like B&M or Home Bargains. Then of course there is the overall mismanagement of the company as a whole. Whilst I will agree that Amazon has somewhat damaged the high street in this case it has very little to do with the downfall of Wilko. The family mismanaged the business into the ground. The thing with places like B&M and others is they tend to sell discounted product from other shops or have promotions and not have a consistent stock. You might go to store and buy a product this week then the next week it’s no longer stocked. |
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Post by southlondon413 on Sept 3, 2023 10:16:36 GMT
However in this case it seems Wilko failed to keep up with the other high street discount stores like B&M or Home Bargains. Then of course there is the overall mismanagement of the company as a whole. Whilst I will agree that Amazon has somewhat damaged the high street in this case it has very little to do with the downfall of Wilko. The family mismanaged the business into the ground. The thing with places like B&M and others is they tend to sell discounted product from other shops or have promotions and not have a consistent stock. You might go to store and buy a product this week then the next week it’s no longer stocked. B&M and others do have some product lines like that but the majority of their lines are permanent. Lidl/Aldi are the only ones who really rely on that business model and as the number of Lidl/Aldi have grown the less scramble there is for products like that. The reality is Wilko failed to respond to the growing shift towards discount retailing, failed to adapt to the growing out of town market which other discounters capitalised on and failed to ensure the business was solvent. £77m worth of dividends and a failure to have a CEO for the better part of a decade don’t make for a solvent business. |
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- all just tat being sold in all honesty
