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Companies That You Expect to Disappear Soon

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Seems as though having products popular with royal family members is no longer a guarantee of success:


I wonder how much of that is because of over-expansion during its successful era.

I do suspect that there is an underlying recession happening right now that isn't statistically easy to see.
 
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styles

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I wonder how much of that is because of over-expansion during its successful era.

I do suspect that there is an underlying recession happening right now that isn't statistically easy to see.

Hardly seems surprising imo.

I'm not into women's fashion, but I imagine you have to be incredibly lucky to have a member of the Royal Family wear one of your products and then for the hype resulting from that to last in the long-term? I mean, if Kate somehow showed that she regularly shopped at this place, absolutely, and it'd probably end up with a royal warrant, but not for a one-off. A short-term bump in sales is to be expected but that's all really.
 

Cloud Strife

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I do suspect that there is an underlying recession happening right now that isn't statistically easy to see.

I think it's just a case of the brand no longer being controlled by the founder. She walked away years ago, and it was massively overvalued on the stock market launch too. Cécile Reinaud was wise enough to bail out at the height of the brand's popularity, and it's not a surprise that it lost its way since then. Brands like that tend to rely very much on a celebrity and public CEO, so faceless corporate ownership simply doesn't work.
 

DavidGrain

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I do suspect that there is an underlying recession happening right now that isn't statistically easy to see.
The USA is in recession now. It is just that they don't have the statistics to show it at the moment with a president who would lie about it even if they did have the stats.
The question is how much will that affect world trade and and us as a result.
 

simonw

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Hardly seems surprising imo.

I'm not into women's fashion, but I imagine you have to be incredibly lucky to have a member of the Royal Family wear one of your products and then for the hype resulting from that to last in the long-term? I mean, if Kate somehow showed that she regularly shopped at this place, absolutely, and it'd probably end up with a royal warrant, but not for a one-off. A short-term bump in sales is to be expected but that's all really.
Well her bumps lasted for, I guess 9 months each.

Taxi? That will be for me.
 

brad465

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While I don't expect an imminent downfall, I can see the Co-op suffering immense reputational damage and much reduced patronage because of this:


The chief executive of Co-op has confirmed that all 6.5 million of its members had their data stolen in a cyber-attack on the retailer in April.
"I'm devastated that information was taken. I'm also devastated by the impact that it took on our colleagues as well as they tried to contain all of this," Shirine Khoury-Haq told BBC Breakfast in her first public interview since the hack.
"There was no financial data, no transaction data but it was names and addresses and contact information that was lost," she added.
Ms Khoury-Haq said that she was "incredibly sorry" for the attack and that it was "personal" to her because of the impact that it had on her colleagues.
"Early on I met with our IT staff and they were in the midst of it. I will never forget the looks on their faces, trying to fight off these criminals," she said.
The hackers were removed from the systems but "could not erase what they did so we could monitor every mouse click," and Co-op was able to send that information to authorities.
But she added: "We know a lot of that information is out there anyway, but people will be worried and all members should be concerned."
Co-op runs on a membership scheme, where members are paid a share of the profits of the co-operative.
"It hurt my members, they took their data and it hurt our customers and that I do take personally," Ms Khoury-Haq said.
Co-op has not put a figure on how much the hack will cost them, but it says it is still working to restore back-end systems.
One of its responses to the hack is to partner with a cyber-security recruitment company.
The Hacking Games identifies young talent to channel their skills into legal careers.
"The research shows that if you offer these kids talent development opportunities and career opportunities, the vast majority of them will take the legitimate pathway," said its chief executive Fergus Hay.
It is planning a pilot programme with Co-op Academies Trust, which runs 38 schools in England.

What happened in the cyber-attacks?​

Co-op was one of three retailers, alongside Marks and Spencer (M&S) and Harrods who were victims of cyber-attacks in spring this year.
Co-op announced on 30 April that it had been hacked, initially saying it would only have a "small impact" on its call centre and back office.
But days later, after being contacted by the alleged hackers, BBC News revealed that customer and employee data had been accessed.
Co-op then admitted the criminals had "accessed data relating to a significant number of our current and past members".
BBC News later discovered from the alleged attackers that the company disconnected the internet from IT networks in the nick of time to stop the hackers from deploying ransomware and so causing even more disruption.
M&S also had customer data stolen, and is still getting its systems back to normal after huge disruption which has cost it millions of pounds.
Last week, the National Crime Agency (NCA) said four people had been arrested in connection with the hacks on Co-op and M&S
These were a 20-year-old woman who was arrested in Staffordshire, and three males - aged between 17 and 19 - who were detained in London and the West Midlands.
They were apprehended on suspicion of Computer Misuse Act offences, blackmail, money laundering and participating in the activities of an organised crime group.
 

duffield

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While I don't expect an imminent downfall, I can see the Co-op suffering immense reputational damage and much reduced patronage because of this:

I was glad to see the Co-op did not pay or even engage with the ransomware criminals. Shamefully, M&S almost certainly did pay them, since they refuse to say if they did. In my opinion it should be a criminal offence to pay these ransoms unless you can show lives were at stake; that would fairly quickly stop a lot of these attacks on UK companies once the criminals found the money was drying up. This money goes directly to financing more crime and in some case terrorism. I'm not sure how it's even legal to pay under the current law given that fact.
 

styles

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While I don't expect an imminent downfall, I can see the Co-op suffering immense reputational damage and much reduced patronage because of this:

I'm not so sure.

They went from a £2m loss to £45m underlying profit in their last financial year, and reduced their net debt by around a third.

A lot of Co-op food places are predominantly convenience stores, with little competition. I can't imagine many people are going to switch from grabbing a fresh pizza from a Co-op to getting a frozen one from their local Premier/Best-one corner shop (if that option is even there).

I'm sure it'll make a small impact, but consumers have short memories for this sort of thing, particularly with data leaks being so common now.

I've got a Co-op and a Scotmid (also supplied by Co-op) in walking distance, and a Best-one shop. The Best-one shop has barely anything fresh in, and neither Best-one nor Scotmid are anywhere near the size of the main Co-op. The next best thing is a Tesco but it's located such that you'd have to drive to it, and with it being massive, I think it puts people off when they just want to pick up a pizza and some drinks on a Friday night.

Co-op (the Group) does have some other issues such as moving away from their co-operative roots, etc, but I don't think most consumers pay much attention to that.
 

Steddenm

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Seems like Claires Accessories are heading for the scrapheap:

280 Claire's locations facing closure as company considers bankruptcy | News UK | Metro News https://share.google/EGAkkWNhDbJeMg0vB
The fashion accessories store, which claims to have performed more piercings than any other chain, has over 280 stores across the UK.

However, the UK chain has incurred losses of £25,000,000 over the past three years alone, prompting the company to hire advisers to find a buyer for its British operations.
 

Russel

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While I don't expect an imminent downfall, I can see the Co-op suffering immense reputational damage and much reduced patronage because of this:


I don't think the Co-Op has much to worry about, how many people choose to shop at the Co-Op?

Most people use it because it's close by or the only option.

== Doublepost prevention - post automatically merged: ==

Seems like Claires Accessories are heading for the scrapheap:

Didn't realize they still existed.
 

DoubleLemon

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Bedford
big fan of HAI and real life lore. his bit about the california hs rail was a total joke. https://youtube.com/@alanthefisher debunks it pretty well.

https://youtube.com/@adamsomething is another great one.

this would be a good thread by itself.




. Quite, also recommend taking a look at their second channel - half as interesting and a similar chanel real life lore. All of which have covered topics similar to this.

== Doublepost prevention - post automatically merged: ==

While I don't expect an imminent downfall, I can see the Co-op suffering immense reputational damage and much reduced patronage because of this:

doubt it. we have had customers complain about notifications that the password and email combination they are trying to use is on a known leaked list. we refuse to let them use it.

that's the complaint. we are stopping them using known leaked details.

This is for professional business software where they are highly regulated.
 
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Snow1964

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Seems like Claires Accessories are heading for the scrapheap:
Looks like US part has now entered bankruptcy

Fashion accessories chain Claire's has filed for bankruptcy in the US for the second time as it struggles with fewer people buying its products, and from online competition eating into profits.

It confirmed it had already been in discussions "with other partners" about its future. The BBC understands there will be no immediate impact on the firm's UK stores.

The US-based firm said it was in discussion "with our vendors and landlords" about its North American stores, but shops there would remain open while it explored "alternatives".

The US-based firm first filed for bankruptcy in 2018. It currently operates 2,750 stores in 17 countries throughout North America and Europe.

It has about 280 stores in the UK, down from 370 in 2018 when it filed for bankruptcy because it was unable to repay a loan.

 

gswindale

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Have just seen that ebuyer.com has entered administration and that Frasers are apparently purchasing it.

Personally, this is a sad day as I used them a lot, along with the likes of dabs direct and Watford Electronics.
 

Steddenm

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Poundland are withdrawing their Perks app and online shopping in early September and stopping selling Pepco branded items including Pep&Co clothing. Pepco branded stores in Europe (incl Ireland) are to be rebranded as Dealz.
 

Russel

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Poundland are withdrawing their Perks app and online shopping in early September and stopping selling Pepco branded items including Pep&Co clothing. Pepco branded stores in Europe (incl Ireland) are to be rebranded as Dealz.

The Perks app didn't last too long then!

It'll be interesting to see what will replace the clothing in store, it takes up a lot of floor space in my local Poundland.
 

Steddenm

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The Perks app didn't last too long then!

It'll be interesting to see what will replace the clothing in store, it takes up a lot of floor space in my local Poundland.
Apparently they are bringing it back "in-house" like they did prior to the Pepco merger. Pep&Co is still a brand owned by Poundland oddly and was originally set up in seperate stores in the UK (West Bromwich had one) and when Poundland purchased 99p Stores and some ex-Woolworths stores they had a bigger store footprint to bring the Pep&Co brand in their stores closing the independent outlets.

Pepco sold both Poundland and the Pep&Co GB brands to the same buyer earlier this year for £1.

Vouchers on the Perks app will remain until "early 2026" when they will expire and you can use them in store. Also oddly not all stores allowed the Perks app to be scanned at the self checkout tills and had to be done at a main till. One quirk was if you scanned it at a Dealz store in Ireland the UK barcodes recognised the card as a staff discount card. Dealz Ireland withdrew the Perks card three days after trialling it as it was "confusing for elderly Dealz customers'
 

TheSmiths82

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Have just seen that ebuyer.com has entered administration and that Frasers are apparently purchasing it.

Personally, this is a sad day as I used them a lot, along with the likes of dabs direct and Watford Electronics.
I now used a trade distributor but I fell out with Ebuyer. I bought monitor which was black in the picture but in the tiny spec sheet it said white. A white one turned up and they wouldn't let me return it saying it was my mistake despite the fact it didn't say it was white any where in the description. I haven't spent a penny with them since, I estimate they have lost at least £10,000 of my custom because they wouldn't let me return a £90 monitor.

I am not sure if the current sales of good act applied then, but as it was for business use it wouldn't have applied anyway. I only use my distributor and Amazon now for IT goods.
 

Harpo

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My local branches of Bodycare look like shops with cashflow issues, whole ranges missing (e.g. Lynx, all mens razors) and lots of empty shelves.
 

SuspectUsual

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My local branches of Bodycare look like shops with cashflow issues, whole ranges missing (e.g. Lynx, all mens razors) and lots of empty shelves.

It might not be them. A lot of health and beauty products are bought through middleman companies rather than direct from the manufacturer so it could be someone else in their supply chain has a problem.
 

jon0844

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I stopped buying for something less than £10 in value and ultimately stopped the company I worked for using them.

I basically ordered a number of products including a battery charger worth about £8 or 9. They part shipped items and I never got the battery charger.

After a while I reached out only to be told that it was my responsibility to contact them no later than 20 or 30 days (can't remember which) and so they'd assumed I'd received it. It wasn't sent tracked delivery.

I mentioned that I didn't know when it had shipped and they told me I didn't contact them to report it missing, so tough luck.

And that was the last order. Ever.

They could have seen my purchase history to determine whether to refund as a goodwill gesture but opted not.

Their loss I guess!
 

Dai Corner

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More news today on Claire's Accessories


More than 2,100 jobs are at risk at Claire’s as the jewellery and accessories chain teeters on the brink of collapse.

The retailer is poised to appoint administrators as soon as Wednesday afternoon, dealing a further blow to Britain’s ailing high streets.

Chris Cramer, the chief executive of Claire’s, said the appointment of administrators would help keep the company afloat while it scrambles for a buyer.

Claire’s has 306 stores across the UK and Ireland and employs 2,150 staff
 

Steddenm

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It might not be them. A lot of health and beauty products are bought through middleman companies rather than direct from the manufacturer so it could be someone else in their supply chain has a problem.
Bodycare use the same wholesale chain as Superdrug and they are having issues as well.
 

trainmania100

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More news today on Claire's Accessories

Doesn't really surprise me. It's full of overpriced cheap junk that breaks so quickly. Every time I walk past there are massive discount bins at the front of the store knocking prices 90%+ off. Even a 10 year old female family member generally avoids it.
 

m0ffy

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Personally, this is a sad day as I used them a lot, along with the likes of dabs direct and Watford Electronics.

I used to use Watford’s trade counter in Luton a lot (before they went bust). Very reasonable prices, but often undercut by Dabs (BT) and Ebuyer.
 

joncombe

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Yes a shame to hear about Ebuyer, I bought my previous 2 computers from them having found the prices to be good and the specification and information on the site good so I know what I am getting. I have been happy with the service. However the last time I bought a computer I found the range on Ebuyer disappointing and the prices not really competitive with alternatives so I bought elsewhere. I guess I wasn't the only one.
 

jon0844

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Doesn't really surprise me. It's full of overpriced cheap junk that breaks so quickly. Every time I walk past there are massive discount bins at the front of the store knocking prices 90%+ off. Even a 10 year old female family member generally avoids it.

If you want cheap costume jewellery or other accessories, surely you're buying it from Temu these days?
 

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