Companies That You Expect to Disappear Soon

[Techniquest]

He definitely doesn't sound like a good boss to have! Poundstretcher hasn't existed in Hereford for a long time, and from the sounds of it good riddance!

 

[Towers]

From the article linked in johntea’s post above:

“Poundstretcher owner Aziz Tayub said he was hoping to float the business this year or next if economic conditions stabilise, and estimated that the retailer will be valued at between £250 million and £300 million.”

Seems the owner’s ideas of his company’s value were slightly at odds with reality!

 

[61653 HTAFC]

I think they’ve long lost their use. The one in Paignton is always really quiet whilst Poundland 100yds away is always busy. The quality of the goods in Poundstretcher has dropped over the years too.

The advent of "Pound shops" certainly didn't help, not least because despite their name Poundstretcher was never a business where everything was sold for a pound, but once Poundland and Poundworld came along people assumed that they were- especially in towns where they hadn't previously had a presence.

To be honest I'm not sure if Poundland are long for this world, they themselves have lost their raison d'etre now they don't do the "everything's a pound" thing. Last month they closed their Batley branch without warning, and put posters in the window directing potential customers to their Dewsbury store... which also had posters in the window announcing that branch was closing soon too!

Then again Dewsbury probably isn't a useful bellwether, as the town's Wetherspoons also closed without warning a couple of months ago despite not being on the recent list of pubs that were up for sale. It's basically a ghost town away from the station.

 

[Techniquest]

I'd have to say I'd agree with that analysis, Poundland is a place I avoid actively. If I've gone in there, then things are desperately desperate. It's definitely not as popular as it used to be, from what I've seen, and I'd certainly not miss Poundland going.

 

[Peter Sarf]

How long has Aziz Tayub owned Poundstretcher ?. Is he a recent changer of direction ?.

Though a good thing I note is he referred to one parting of the ways as being because he did not want Poundstretcher changing too dramatically. I have noticed a few firms suffering badly from too much change too quickly. But maybe he is so reluctant that Poundstretcher is getting "left behind".

For me Poundstretcher has very little attraction these days compared to 20 years ago. Nowadays I come out empty handed more often than buying something. I think the various pound shops have cut away Poundstretcher's lower end business - that is judging by Croydon's various independents plus three Poundlands. At the other end Wilko do better at the upper end - granted a bit hard for me to judge as Croydon lacks a Wilko, Robert Dyas or other hardware chain (not even a Home Bargains or B&M). I don't fall for Poundstretcher's more recent dubious double the prices then announce a sale tactic.

 

[Typhoon]

To be honest I'm not sure if Poundland are long for this world, they themselves have lost their raison d'etre now they don't do the "everything's a pound" thing.

I occasionally used to go in to Poundland (and 99p stores) under the 'everything's a pound regime', looking for stuff that generally cost more, ignoring the things that are cheaper elsewhere, I might also buy a few things which generally were a pound elsewhere so they probably made something from my shop but I can't be bothered with trying to work out whether £1.29 is cheap of not. I go in Home Bargains because I know what they have and where to find it but even they are not so good - more brands I have never heard of and items 'out of stock'.

Was that the one where "senior directors" often foisted large amounts of somewhat unusual, short-dated, stock lines on poor unsuspecting local store managers?

There is a place for those (but not the 'unusual') - in our local street market. Somewhere you walk past and think something may be interesting - I bought a bar of (branded) chocolate last week for 25p, marked £1. Its fine, I'll buy more if they still have it, but I wouldn't go into a (fairly large) shop on the off-chance. They no longer seem to have the (very) short-dated, decent brands at rock-bottom prices. Maybe because they are multimillionaires they don't understand that folks want to buy stuff they want/ need cheap, not just stuff they want/ need cheap (or fairly cheap). Their store staff must be on rock-bottom wages, they should ask them to go round the stores pointing out the type of items they would never buy because if they won't buy them, no-one else will because their customer base must be those on low incomes.

I've been on their website - home page "Creative choc-free Easter egg alternatives" and "Thoughtful Mother’s Day Gift Ideas for Less"; also "Unlock Incredible Savings with Our 20% Off Coupon!" "So, get ready to make the most of this incredible opportunity at any of our conveniently located stores across the UK." - minimum spend (to be expected) but only at 30 of their stores. They really need a management shake up. The last time I went in one, there appeared to be one member of staff, I would guess a school leaver, tidying the shelves when there was no-one needing the checkout. There must be more to life.

 

[Busaholic]

Bit of a thread bump but another nod to Poundstretcher, there can't be much life left in them surely?

Walked past the front entrance of one today where a pallet of bottled water (never heard of the brand) was outside and a sign read "35p or a case for £8.40!". I'm not sure whether to laugh at the fact that the case price is simply 24 x 35p or the fact that you can get 24 bottles of supermarket own brand spring water for less than half the price.

As it happens walking past is the closest I get to one of their stores now, i've never been back since the debacle when they doubled the price of pretty much everything and then did a 50% off sale.

I got caught out there recently when needed to buy a washing up bowl on a Sunday afternoon prior to a District Nurse visit the following morning. Poundland had sold out, and the same bowl I'd spent £1.48 on at B&M a few weeks previously was £5 in Poundstretcher. Trade Descriptions Act violation of a company name imo.

 

[Butts]

I got caught out there recently when needed to buy a washing up bowl on a Sunday afternoon prior to a District Nurse visit the following morning. Poundland had sold out, and the same bowl I'd spent £1.48 on at B&M a few weeks previously was £5 in Poundstretcher. Trade Descriptions Act violation of a company name imo.

Perhaps "Walletstretcher" would be more appropriate

 

[ChrisC]

Then again Dewsbury probably isn't a useful bellwether, as the town's Wetherspoons also closed without warning a couple of months ago despite not being on the recent list of pubs that were up for sale. It's basically a ghost town away from the station.

I know I am drifting a bit off topic but to mention Dewsbury…
I can remember visiting Dewsbury on a few occasions about 30 years ago and buying fresh foods from a very busy and vibrant market. The rest of the town centre was fairly busy too with a good variety of shops and relatively busy streets. Quite a nice place to visit.
I returned to Dewsbury about 5 years ago and never again. It just seemed to be a place of general dereliction with closed down and boarded up shops and generally empty streets. The market no longer seemed to have any stalls open and the whole town centre seemed totally neglected and not really a place to linger. I wouldn’t like to visit after dark!

 

[Alanko]

I'd have to say I'd agree with that analysis, Poundland is a place I avoid actively. If I've gone in there, then things are desperately desperate. It's definitely not as popular as it used to be, from what I've seen, and I'd certainly not miss Poundland going.

I went shopping in Falkirk last week and visited B&M, The Range, TK Max and Dunelm. These shops had a whiff of familiarity between them. Slightly low-frills places with low cost goods on sale.

Poundland/Poundstretcher always leant into fact you were having a scruffy, downmarket shopping experience. The other stores I listed above somehow push slightly towards the aspirational market, despite selling cut-price goods. B&M sell Stanley tools, whereas Poundland sell unbranded Chinesium tools that break on first use.

 

[Butts]

I went shopping in Falkirk last week and visited B&M, The Range, TK Max and Dunelm. These shops had a whiff of familiarity between them. Slightly low-frills places with low cost goods on sale.

Poundland/Poundstretcher always leant into fact you were having a scruffy, downmarket shopping experience. The other stores I listed above somehow push slightly towards the aspirational market, despite selling cut-price goods. B&M sell Stanley tools, whereas Poundland sell unbranded Chinesium tools that break on first use.

You didn't visit Poundstretcher in Falkirk then which is on the High Street ? Poundland is in The Howgate Centre, there used to be one on The Central Retail Park as well but that closed last year - apparently the rent renewal was to high.

Wilko's is probably a contemporary of the above with a Store in The High Street that crosses into The Howgate Centre.

 

[Alanko]

You didn't visit Poundstretcher in Falkirk then which is on the High Street ? Poundland is in The Howgate Centre, there used to be one on The Central Retail Park as well but that closed last year - apparently the rent renewal was to high.

Wilko's is probably a contemporary of the above with a Store in The High Street that crosses into The Howgate Centre.

Wilko is a confusing outfit, but pretty useful! Their DIY and hardware session is ok, as is their selection of flower bulbs.

 

[C J Snarzell]

Network Dustribution went into liquidation on the 31st May 2023.

Although, they may not be an obvious company from the high street or the local retail park, they are probably one of the leading names behind most retro television/film releases on DVD/Blu-ray in the last two decades.

Their back catalogue speaks for itself, with hundreds of titles ranging from classic comedy sitcoms, primetime drama and films of the 50's & 60'S. If you were to browse the TV section of your local HMV, the chances are the DVD or Blu-ray you select will have the 'Network' branding in it.

I believe Network's downfall has been down to a few factors. The company founder and director sadly died last year aged just 59 and the introduction of digital 'steaming' with apps like Netflix, mean that sales of DVDs have plummeted significantly in recent times, meaning less and less people are purchasing Network merchandise.

A sadly sign of the times. A lot of their releases are still available on Amazon, but I reckon in months and years to come, the price of Network's 'out of print' stock will start to fluctuate as people start to sell or buy titles for silly money.

CJ

 

[Mcr Warrior]

Network Dustribution went into liquidation on the 31st May 2023.

Presume 'AutoCorrupt' intervened and you actually meant Network Distributing Limited?

 

[Alanko]

I dare say the demographic buying DVDs of classic '50s and '60s dramas and films is rapidly shrinking as well.

 

[C J Snarzell]

Presume 'AutoCorrupt' intervened and you actually meant Network Distributing Limited?

Yes - damn predictive text is so annoying. It was Network Distributing Ltd I was referring to.

I dare say the demographic buying DVDs of classic '50s and '60s dramas and films is rapidly shrinking as well.

Alas, the age of the DVD is being left behind. Blockbuster Video went to to the wall a few years ago, and superstores like Sainsburys scrapped their DVD aisles in 2021. Even HMV has been overing close to the brink of bankruptcy, but their move towards Vinyl, and other merchandise like T-shirts and memorabilia have perhaps saved them from going under.

The sad thing is that Network released stuff that would never be found on a streaming channel. Also, they conducted restoration work on some DVD releases (such as the Professionals) where the picture quality was excellent.

If you watch old/retro programmes on ITVx, the picture quality on some is appalling. It's almost like the programme has been sourced from a badly recorded copy and it's like the early days of Channel 5 - like watching something in a snow storm!!!!

CJ

 

[birchesgreen]

Youtube is such a great place to find old films/TV which are largely ignored elsewhere (except by Talking Pictures) - some of it might even be legal. I watched the excellent Doctor in Clover on the 'Tube just yesterday indeed.

Getting OT, Wickes seem to have caused a bit of a kerfuffle, they'll probably weather it but i am sure the shareholders are thrilled.

 

[Strathclyder]

Officers Club is a name that some here may be surprised to find still lingers on, albeit as a regional chain of 4 (yes, four) stores in shopping centres dotted on the fringes of Glasgow now (the closest store to the city centre is the one in the Forge Shopping Centre in Parkhead; the other three are in Hamilton, Motherwell and Clydebank Shopping Centres). Have bought a few things out of the Clydebank store in recent months as my fashion tastes have changed in the last 5-6 months (think going full-hog for tracksuits and such like lol), I was more or less the only customer in the store during each of my visits. Reduced in price and 'Sale' tags and stickers were common, how long it lasts is anyone's guess.

Still, it had what I was looking for at half-decent (re: knocked-down) prices.

This is what comes up when you enter 'Officers Club' into Google Maps while hovering over Greater Glasgow. Zooming out to the rest of the UK and Ireland yields no further stores whenever I've tried it:

 

[The Albion]

Officers Club is a name that some here may be surprised to find still lingers on, albeit as a regional chain of 4 (yes, four) stores in shopping centres dotted on the fringes of Glasgow now (the closest store to the city centre is the one in the Forge Shopping Centre in Parkhead; the other three are in Hamilton, Motherwell and Clydebank Shopping Centres). Have bought a few things out of the Clydebank store in recent months as my fashion tastes have changed in the last 5-6 months (think going full-hog for tracksuits and such like lol), I was more or less the only customer in the store during each of my visits. Reduced in price and 'Sale' tags and stickers were common, how long it lasts is anyone's guess.

Still, it had what I was looking for at half-decent (re: knocked-down) prices.

This is what comes up when you enter 'Officers Club' into Google Maps while hovering over Greater Glasgow. Zooming out to the rest of the UK and Ireland yields no further stores whenever I've tried it:

View attachment 137510

There is an Officer's Club in Preston ( seen it last week) and believe there is one in Rochdale.

 

[Peter Sarf]

Officers Club is a name that some here may be surprised to find still lingers on, albeit as a regional chain of 4 (yes, four) stores in shopping centres dotted on the fringes of Glasgow now (the closest store to the city centre is the one in the Forge Shopping Centre in Parkhead; the other three are in Hamilton, Motherwell and Clydebank Shopping Centres). Have bought a few things out of the Clydebank store in recent months as my fashion tastes have changed in the last 5-6 months (think going full-hog for tracksuits and such like lol), I was more or less the only customer in the store during each of my visits. Reduced in price and 'Sale' tags and stickers were common, how long it lasts is anyone's guess.

Still, it had what I was looking for at half-decent (re: knocked-down) prices.

This is what comes up when you enter 'Officers Club' into Google Maps while hovering over Greater Glasgow. Zooming out to the rest of the UK and Ireland yields no further stores whenever I've tried it:

View attachment 137510

You might have a filter or something switched on choosing ones within a certain range.

 

[Darandio]

Blue Inc now own the Officers Club name. The store locator is on their site, there's a list here which has them combined with their own stores:

Store Locator Map

Shop the latest styles in Mens Clothing Online in UK featuring on-trend Men's Fashion & Accessories with a range of T-shirts, Jackets, Jeans, Hoodies & more.

blueinc.co.uk

 

[Strathclyder]

Thanks for the corrections everyone. That was embarrassing and a school-boy error on my part with the Google Maps setting.

That said, given how many times the Officers Club name and adminstration have been used in the same sentence in the last 20 or so years, you can forgive me for thinking it was on it's last legs (again). Though I personally hope it doesn't vanish for some time yet, as it's my clothing store of choice at the moment.

 

[Tazi Hupefi]

Thames Water.....! Not exactly a surprise.

Quite how a monopolistic business for a mandatory, essential, life supporting service - that they have clearly not been reinvesting profits back into - manages to end up on the verge of being renationalised is beyond me.

 

[DelW]

Thames Water.....! Not exactly a surprise.

Quite how a monopolistic business for a mandatory, essential, life supporting service - that they have clearly not been reinvesting profits back into - manages to end up on the verge of being renationalised is beyond me.

BBC reporting that Thames' chief exec has departed:

Thames Water boss quits after sewage spills

Sarah Bentley steps down weeks after giving up her bonus over the company's poor performance.

www.bbc.co.uk

The chief executive of Thames Water has stepped down after two years in the role, weeks after giving up her bonus over sewage spills.
Thames Water said Sarah Bentley would leave with immediate effect, but would continue to support the firm until her replacement was found.

Did she jump or was she pushed? And did she deserve this: "Ms Bentley previously received £496,000 in performance-related bonuses in 2022" considering Thames' poor performance?

 

[AM9]

BBC reporting that Thames' chief exec has departed:

Thames Water boss quits after sewage spills

Sarah Bentley steps down weeks after giving up her bonus over the company's poor performance.

www.bbc.co.uk

Did she jump or was she pushed? And did she deserve this: "Ms Bentley previously received £496,000 in performance-related bonuses in 2022" considering Thames' poor performance?

Will we see a water OLR?

 

[Peter Mugridge]

Will we see a water OLR?

That's exactly what the contingency plan entails!

It's similar to what happened when Bulb blew last year.

 

[AM9]

That's exactly what the contingency plan entails!

It's similar to what happened when Bulb blew last year.

So that would open a new chapter in the book of failed privatisations.

 

[Peter Mugridge]

So that would open a new chapter in the book of failed privatisations.

The reports on the BBC are also saying it won't collapse imminently and it has strong cash reserves of £4.4 billion, so I suspect there may be a lot more to this story than has already been revealed.

 

[PG]

The reports on the BBC are also saying it won't collapse imminently and it has strong cash reserves of £4.4 billion, so I suspect there may be a lot more to this story than has already been revealed.

Maybe those reserves were held by Silicon Valley Bank...

 

[Snow1964]

The reports on the BBC are also saying it won't collapse imminently and it has strong cash reserves of £4.4 billion, so I suspect there may be a lot more to this story than has already been revealed.

Thames Water has borrowings of £14bn

As interest rates rise, got to pay lots more to service this, rumoured they can't afford it unless put up water rates by hefty amount. I suspect interest bill is close to triple what it was 2 years ago when base rates nearer 2%