Another nail in the coffin for the high street

It has been reported in the newspapers that Debenhams is to close a third of it's stores putting 4,000 jobs at risk after they have revealed a £500 million loss.

The closures will take place over the next 3-5 years although there has been no mention of which stores will possibly be closed.

Is there a point to this thread?

What's up Nat?

The news last week that Kendals on Deansgate in Manchester was shutting was a bigger shock than Debenhams, that was surely the flagship store of Manchester city centre.

Kendals
Debenhams
Hopefully john Lewis and Selfridges next

Overpriced.  Everything can be got cheaper elsewhere. No surprise

Hope Philip Green doesn't get involved. He's got enough on his plate at the moment.

Growler wrote:The news last week that Kendals on Deansgate in Manchester was shutting was a bigger shock than Debenhams, that was surely the flagship store of Manchester city centre.

Problem with Kendals is that HoF sold and rented back the building.

What has happened since is that the landlord has raised and raised the rent of the building/land and it has now come to a point where the rent is now outstripping income.

it is very akin to what happened with Prestons in Bolton.   If rent is outstripping income and landlord is not prepared to reduce the rent what is the business going to do?

Yes the landlord will be financially better off with no tenants in a commercial property but it also means one less name on the high street.