This is going to sound awful, but nothing else will suffice.
Teresa May is a spineless, opportunistic, amoral, selfish cunt of a person.
So a Tory?
Even for a tory. Trouble is the Labour Party are almost equally venal, and almost equally untalented
Maplin and Toys R Us collapse
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Electrical retailer Maplin entered administration yesterday after failing to find a buyer for the business, its chief executive said, becoming another victim of tough conditions on the high street.
Maplin operates more than 200 stores in Britain and Ireland, and became the second high street chain to collapse yesterday after Toys R Us also entered administration.
In the Republic, Maplin has six outlets including three in Dublin, and one in Limerick, Cork and Galway.
âI can confirm this morning that it has not been possible to secure a solvent sale of the business and as a result we now have no alternative but to enter into an administration process,â Maplin chief executive Graham Harris said.
âDuring this process Maplin will continue to trade and remains open for business.
âThe business has worked hard over recent months to mitigate a combination of impacts from sterling devaluation post Brexit, a weak consumer environment and the withdrawal of credit insurance.
âThis necessitated an intensive search for new capital that, in current market conditions, has proved impossible to raise.â
The collapse of the UK arm of Toys R Us has put thousands of jobs at risk just two months after the chain won creditor backing for a sweeping restructuring plan to tame its unmanageable rent bill.
The retailer operates four stores in the North: two in Belfast, one in Lisburn and one in Derry.
Executives had been battling to raise cash to pay a tax liability that fell due this week, but the efforts collapsed after a number of private equity funds and restructuring specialists walked away.
Insolvency specialists at Moorfields have begun the process of closing its UK operations, which employ nearly 3,000 people and has an estimated funding shortfall of at least ÂŁ25 million (âŹ27 million) in its pension scheme. â Copyright The Financial Times Limited 2018/Reuters
It seems that pension schemes are collapsing multiple old brands. Brexit didnât help Iâm sure.
Maplin were robbing bastards anyways.
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Itâs interesting that in Dublin that a lot of shopping centers have been putting in a lot of CapEx of late. Stillorgan, Blackrock, Frascatti and Shankhill come to mind. It doesnât seem sustainable. I know that they all had a few years of cash stocked up with no spends but surely it is going to get more difficult to get large retail units in. Stillorgan already switched to having more CafĂŠs and grocery stores but thereâs only so many you can do.
not interesting
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Your days of putting the kids into the crèche while strolling around the shops are coming to an end.
i dont to go shopping centres mate
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Mostly bullshit too
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Whatâs bullshit?
Cash stocked up with no spends.
Mostly new owners and they would have valued the centres when buying knowing they needed cap ex and would have worked this into their numbers. If these owners have cash stocked up it certainly not to do with no spends in these centres.
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Ooooft
It means that cash hasnât been spent on the places in years.
The overall point is about lots of money is being spent but at the same time you have a squeeze on shopping centers. That is an international fact.
Shopping patterns have changed.
Huge difference between cap ex and cash not being spent. Landlords would not be spending their own money yearly anyway (the cash not been spent on normal running costs). These costs are normal running costs and paid for by the tenants. Any normal refurbishment which is happening now in shopping centres, because cash hasnât been spent in years, is being recharged to the tenants and you wouldnât notice or see these spends.
The capital ex being spent in some of the centres you mentioned is not normal and is being spent to increase value. This cash has been worked into their numbers and has not been piling up.
Oh I know, and Stillorgan did a great job in switching a lot of their older units over to the likes of Donnybrook Fair. Aldi are going into Frascatti.
But if the the big boys are in trouble then thatâs not a good sign.
Never in all my years watching politics have I seen somebody so completely out of their depth as Dominic Raab, and he has serious competition in that Tory party