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spygirl

Big Fat Death of the High Street thread

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Thin margin business.

New owner buys it cheap, loads it up with debt, takes out their purchase price and profit whilst it keeps its head above water; bad patch = admin, debts written off or down.  And repeat.

One of my earliest jobs was working on the Carpet ?Warehouse ?Right adminsitration;. it is basically the business model.

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15 minutes ago, Frank Hovis said:

Thin margin business.

New owner buys it cheap, loads it up with debt, takes out their purchase price and profit whilst it keeps its head above water; bad patch = admin, debts written off or down.  And repeat.

One of my earliest jobs was working on the Carpet ?Warehouse ?Right adminsitration;. it is basically the business model.

Multiyork seem vertically integrated - factory feeds into shops.

The debt to bust only works when youre stiffing trade creditors.

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1 minute ago, spygirl said:

Multiyork seem vertically integrated - factory feeds into shops.

The debt to bust only works when youre stiffing trade creditors.

Correct.

This thne might actually be the first ever exampel of a furniture retailer genuinely going bust!

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21 minutes ago, blobloblob said:

But what exactly should the price of a sofa be? I've always felt the whole industry lacks any credibility due to endless so-called sales.

https://www.multiyork.co.uk/sofas/osborne-sofa

stream.php?n=multiyork&room_id=25442&wid

Was £3,129 Now £1,599

I always compare things with other things I could buy for the same money

That is two fekking expensive seats.

 

Edited by Hopeful

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The other problem with furniture retailers is they are pathological liars about the quality of their offerings.

Hardwood frame? They forget to tell you the ends are OSB and the dowels go through the shite and only stick 6mm into the hardwood the other side.

Leather, yes it is leather but it is sprayed with a vinyl coating that comes off after 2/3 years.

SCS = Shit Crappy Sofas

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Large fixed costs: looks like they have 50 high street stores so not easy to scale down when times get lean, large bulky products meaning lots more staff to transport - overhead walks on two feet. A fickle customer more likely to rent and more interested in experiences and £20 cocktails to create instawhore worthy pictures than an £2k sofa.

I'm sure all the employees losing their jobs can just become social media managers and vloggers instead right?

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2 hours ago, Hopeful said:

https://www.multiyork.co.uk/sofas/osborne-sofa

stream.php?n=multiyork&room_id=25442&wid

Was £3,129 Now £1,599

I always compare things with other things I could buy for the same money

That is two fekking expensive seats.

 

So you call your sofa 'osborne' and expect it to be financially good for you.

I think I have spotted their problem.

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MultiYork sofas last for years and years,  they are a British company with decent customer service. The only issue is they become dated after 10 years as tastes and fashions change. 

Comparing them to DFS etc is apples and oranges. I think it's a shame. Their customers were mainly ABC1 etc not bennie claimants or millennials. 

I don't understand why it takes 10 weeks to staple together some fabric and wood though. All of these companies have ridiculous lead times. 

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7 hours ago, spunko2010 said:

MultiYork sofas last for years and years,  they are a British company with decent customer service. The only issue is they become dated after 10 years as tastes and fashions change. 

Comparing them to DFS etc is apples and oranges. I think it's a shame. Their customers were mainly ABC1 etc not bennie claimants or millennials. 

I don't understand why it takes 10 weeks to staple together some fabric and wood though. All of these companies have ridiculous lead times. 

And so they should last for years and years. I think we have forgotten that things should last.

My parents suite lasted 50 years before it was replaced (recovered once), it was only replaced finally because it was cheaper to buy a new one than recover it again. Although the furniture retailer said that they'd never get the same quality in a new frame.

I bought a 3-seater Tetrad sofa (no idea how the quality compares to Multiyork) for £550 over 20 years ago (should be £900 today according to the BoE inflation calculator). The fabric looks tired but it still support our backsides and I've no intention to change it. If visitors judge me by my sofa, tough.

Tongue in cheek, it seems fashions in sofas do change fast. One thing I noticed about the Multiyork blog on their website was the short fashion period of their sofas

"Cosy Velvet [sofas] for winter"

"Winter style with the Carter sofa"

Do they expect people to have a summer style sofa too ?

 

Edited by Hopeful

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20 minutes ago, Hopeful said:

And so they should last for years and years. I think we have forgotten that things should last.

My parents suite lasted 50 years before it was replaced (recovered once), it was only replaced finally because it was cheaper to buy a new one than recover it again. Although the furniture retailer said that they'd never get the same quality in a new frame.

I bought a 3-seater Tetrad sofa (no idea how the quality compares to Multiyork) for £550 over 20 years ago (should be £900 today according to the BoE inflation calculator). The fabric looks tired but it still support our backsides and I've no intention to change it. If visitors judge me by my sofa, tough.

Tongue in cheek, it seems fashions in sofas do change fast. One thing I noticed about the Multiyork blog on their website was the short fashion period of their sofas

"Cosy Velvet [sofas] for winter"

"Winter style with the Carter sofa"

Do they expect people to have a summer style sofa too ?

 

Doesn't everyone?  

IMG_0866.JPG

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11 hours ago, Chewing Grass said:

The other problem with furniture retailers is they are pathological liars about the quality of their offerings.

Hardwood frame? They forget to tell you the ends are OSB and the dowels go through the shite and only stick 6mm into the hardwood the other side.

Leather, yes it is leather but it is sprayed with a vinyl coating that comes off after 2/3 years.

SCS = Shit Crappy Sofas

Even that is utterly meaningless. 

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When McDonalds start vacating something is going on.

http://www.kentonline.co.uk/medway/news/mcdonalds-restaurant-set-to-close-185732/

Quote

 

McDonald's have not yet revealed what has caused the closure of the high street store.

A spokesperson said: "We are sad to confirm that the restaurant will close permanently at the end of July.

"All employees at the restaurant have been offered alternative employment with us."

 

Times they are a changin'. They closed 2 other stores in Kent lately but there isn't much bruhaha over it.

 

PS: I'm going to merge several other thread into this one. There are quite a few discussions on the Property subforum about it too.

Edit: here it is  https://www.kentlive.news/whats-on/food-drink/mcdonalds-confirms-close-dover-town-514836

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