Is the High Street doomed

[cupid_stunt]

I am trying to remember when I was last in an actual bank branch, it's got to be well over 5 years, maybe.

If I've got cash to pay into my business account I do that at the local post office, most banks have an arrangement with them.

 

[Artaxerxes]

I had to go fucking miles to find an HSBC to get some last minute mortgage payment sent through to the solicitors, fuckers charged me for the privilege to.

 

[cupid_stunt]

Paperchase has fallen into administration, Tesco is in advance talks to buy the brand and IP rights, buy are unlikely to be interested in the 106 shops, so 820 jobs at risk.

Paperchase: Tesco buys stationery brand but not its shops

The supermarket buys the Paperchase brand but not its shops, leaving the future of 820 staff in doubt.

www.bbc.co.uk

Tesco eyes surprise bid to wrap up deal for Paperchase brand

Tesco is close to buying the stationery chain's brand in a pre-pack deal that will leave its employees and stores facing an uncertain future, Sky News learns.

news.sky.com

 

[Artaxerxes]

I thought they’d already gone tbh. The big one at Tottenham Court Rd is some awful monopoly experience now

 

[skyscraper101]

I thought they’d already gone tbh. The big one at Tottenham Court Rd is some awful monopoly experience now

The irony.

 

[Bingoman]

Paperchase has fallen into administration, Tesco is in advance talks to buy the brand and IP rights, buy are unlikely to be interested in the 106 shops, so 820 jobs at risk.

Paperchase: Tesco buys stationery brand but not its shops

The supermarket buys the Paperchase brand but not its shops, leaving the future of 820 staff in doubt.

www.bbc.co.uk

Tesco eyes surprise bid to wrap up deal for Paperchase brand

Tesco is close to buying the stationery chain's brand in a pre-pack deal that will leave its employees and stores facing an uncertain future, Sky News learns.

news.sky.com

I take it the stores it self will be turn into a tesco Express or something like that

 

[Artaxerxes]

The irony.

I don’t even drink and think the pub crawl monopoly is a much better use of your money

 

[muscovyduck]

What fucks me off is shops like Paperchase forcing good quality independent stationery shops off the High Street only to disappear themselves. Fuck capitalism

 

[cupid_stunt]

I thought they’d already gone tbh. The big one at Tottenham Court Rd is some awful monopoly experience now

It's their second time around, they went bust back in 2021, and some shops were closed.

I take it the stores it self will be turn into a tesco Express or something like that

The reports suggest Tesco is only interested in buying the brand and intellectual property rights, and not the shops.

 

[hash tag]

I gather Tesco's have bought the name, not the 106 ships, I think it is. The 1000 or so staff must be very worried about their jobs

 

[cupid_stunt]

I gather Tesco's have bought the name, not the 106 ships, I think it is. The 1000 or so staff must be very worried about their jobs

As expected.

It must be a bit of a basket case, because there were no parties interested in taking on the shops.

Tesco buys Paperchase brand but not shops, with 800 jobs at risk

Stationery retailer collapses into administration after rising costs and disappointing sales

www.theguardian.com

 

[hash tag]

As expected.

It must be a bit of a basket case, because there were no parties interested in taking on the shops.

Tesco buys Paperchase brand but not shops, with 800 jobs at risk

Stationery retailer collapses into administration after rising costs and disappointing sales

www.theguardian.com

Yep, Tesco's crushes more shopping powers in its plan to dominate the high street Physical cards could be on the way out. Many people sent eCards during COVID and have not gone back? Fortunately, I have a great independent card shop nearby.

 

[Spymaster]

Yep, Tesco's crushes more shopping powers in its plan to dominate the high street ...

That's a very strange reading of what's going on. Paperchase has been a dog for years and was in administration. Whatever of it does survive owes Tesco a favour.

 

[hash tag]

Tesco's could have kept at least a few of the shops open at least, but no, as I read it they have bought just the name. Which helps the shareholders/administrators.

 

[Spymaster]

Tesco's could have kept at least a few of the shops open at least ...

Why on earth would they keep a load of loss making shops that are going down the drain when they've got over 2000 of their own that they can put the brand into at almost no cost?

 

[hash tag]

They could have afforded to keep a few on, and some staff. They could even converted a few of the shops to muni Tesco's, except mini Tesco's are probably not that mini anymore.

 

[hash tag]

Incidentally, I see paperchase was founded by a couple called Cash and Pond.

 

[Spymaster]

They could have afforded to keep a few on, and some staff.

Anyone would think they're running a business!

 

[MickiQ]

They could have afforded to keep a few on, and some staff. They could even converted a few of the shops to muni Tesco's, except mini Tesco's are probably not that mini anymore.

Why? even if there is the odd store in a location they could use it isn't worth buying the lot just to get them. It's cheaper and simpler to let Paperchase go belly up and then rent the odd shop they want from the landlords. That way any closure costs such as redundancies fall on the administrators not Tesco's. They aren't motivated by a warm desire to feel charitable to anyone about to lose their job. This is a hard business decision motivated by someone seeing an opportunity to turn a profit here.

 

[hash tag]

If anyone wants to get a valentine's card, it's 20% off of everything at out local paperchase.

 

[clicker]

If anyone wants to get a valentine's card, it's 20% off of everything at out local paperchase.

That'll still be over priced then.

 

[hash tag]

That'll still be over priced then.

Because you don't want to spend a penny more than is necessary on the one you love

 

[hitmouse]

Up to 40% in my nearest Paperchase but I think they've got rid of most of the good stock now. Depressing list of closures here:

Wetherspoons, B&Q and Iceland among retailers closing branches

Customers are shopping less on the high street due to inflation which is impacting businesses

www.devonlive.com

 

[Cloo]

Interesting Twitter thread from small business owner about how she's approached numerous empty places to offer to occupy but is ghosted, ignored etc, even when willing to take places that need lots of work, have been empty for years:



Suggests there's a gap in the market for someone to be matchmaking between people who want space and those who have it but may not know what to do with it. I know a lot of small shops are owned by small landlords and I wonder if a lot are places people have inherited but just have no clue how to deal with, so they ignore it.

 

[Elpenor]

Reading town centre yesterday - my first visit for 3 years or so, and that was during covid

Wow it’s changed. Almost entirely full of takeaways, casual dining chains. Very few shops that are “useful”. Must admit I didn’t go into the Oracle; but I did go into the Butts Centre (as you call it if you’re old school Reading) and that was very dead. Mainly being used as somewhere to keep warm I think

 

[pinkmonkey]

Reading town centre yesterday - my first visit for 3 years or so, and that was during covid

Wow it’s changed. Almost entirely full of takeaways, casual dining chains. Very few shops that are “useful”. Must admit I didn’t go into the Oracle; but I did go into the Butts Centre (as you call it if you’re old school Reading) and that was very dead. Mainly being used as somewhere to keep warm I think

We’re taking my parents to York today. Because it’s a touristic destination it doesn’t seem to suffer from empty units like some cities do.

 

[pinkmonkey]

They could have afforded to keep a few on, and some staff. They could even converted a few of the shops to muni Tesco's, except mini Tesco's are probably not that mini anymore.

No one wants shops now, they cost extra to run. I’m setting up footwear for a small remade retro brand who sells only online. They’re not cheap because everything is sustainable and they pay living wages. My client told me about other brands and told me about one that was similar to theirs, ‘but they have some shops so that means everything is £20 more expensive than we are.’

 

[Cloo]

South Molton Street in the West End seems to be in real trouble - initially I thought it was COVID, but I think it might be more the loss of Browns some years back (big very High Fashion designer store). The former Browns unit was taken for a while by a nice sustainable products shop, but they've gone, leaving a big run of fronts empty and about half the other units on the street seem to be vacant as well, or only doing short lets. Without Browns I think it's just lost it's 'pull'.

 

[chilango]

Reading town centre yesterday - my first visit for 3 years or so, and that was during covid

Wow it’s changed. Almost entirely full of takeaways, casual dining chains. Very few shops that are “useful”. Must admit I didn’t go into the Oracle; but I did go into the Butts Centre (as you call it if you’re old school Reading) and that was very dead. Mainly being used as somewhere to keep warm I think

Lots of empty units in the Oracle now too. For a while pop-up shops filled some of them, but they seem to have, erm, stopped popping up.

 

[pinkmonkey]

South Molton Street in the West End seems to be in real trouble - initially I thought it was COVID, but I think it might be more the loss of Browns some years back (big very High Fashion designer store). The former Browns unit was taken for a while by a nice sustainable products shop, but they've gone, leaving a big run of fronts empty and about half the other units on the street seem to be vacant as well, or only doing short lets. Without Browns I think it's just lost it's 'pull'.

Thats quite sad, in the 90’s heyday my flatmate was a buyer/sales assistant for Pellicano, another designer store that is long gone. Pre online shopping she’d fly all over the world to sell to private customers. Us povvos used Grattan and Janet Frazer, loaded folks would call the store and an assistant would fly over with cases of clothing for her to select from. I remember the South Molton St pharmacy which was basically a make up shop stuffed with end-of-lines.