| BHS The end of an era 13:55 - Apr 25 with 4647 views | Lord_Bony |
11,000 jobs to go including the closure of the Swansea branch.
The present owners bought it for a pound off Philip Greene took out a couple of million for themselves then put it into administration...that's not right..
http://www.bbc.co.uk/news/business-36123444
This post has been edited by an administrator |  |
| |  |
| BHS The end of an era on 14:28 - Apr 25 with 2826 views | Wingstandwood |
It's sad to sentimental/reminiscent/emotional sorts like myself when something that I was brought up with, grown up and that has/had always seemed to be there for many years or an entire living memory disappears never to return.
I get misty eyed thinking about Swansea's Woolworths, John Menzies, Virgin Records, David Evans, The Carlton Cinema, The Albert Hall Cinema (Jaws? What queues!) The Vetch North Bank etc.
That's all you hear of nowadays is of jobs going/serious threat of jobs going at Port Talbot Tata, BHS etc they were once upon a time established businesses that you'd think would be here for ever and a day. |  |
| |
| BHS The end of an era on 14:48 - Apr 25 with 2801 views | Lord_Bony |
indeed.
The Swansea branch has been there for a very long time,sad to see it go. Will be hard to replace.
 | |
| |
| BHS The end of an era on 16:27 - Apr 25 with 2730 views | epaul |
Greene needs to be strung up from a lamppost the utter kunt ystealing from pension pots and buying yachts worth millions while hard woring people lose their jobs.. KIin tories again, Camoron appointed him to look at austerity in 2010, jobs for mates |  |
| The hair and the beard have gone I am now conforming to society, tis a sad day
The b*stards are coming back though |
| |
| BHS The end of an era on 16:58 - Apr 25 with 2695 views | oh_tommy_tommy |
| BHS The end of an era on 16:27 - Apr 25 by epaul |
Greene needs to be strung up from a lamppost the utter kunt ystealing from pension pots and buying yachts worth millions while hard woring people lose their jobs.. KIin tories again, Camoron appointed him to look at austerity in 2010, jobs for mates |
Stealing not surprising is it , some stuck up for their like on here on all .
Lock him up
Then
Put him on trial
Lock him up again |  |
| |
| BHS The end of an era on 16:59 - Apr 25 with 2694 views | pikeypaul |
I see he paid his wife a special £400 million dividend from BHS and she's a tax exile in Monaco.
This whilst there is a £537 million deficit in the pension pot.
Sounds a bit dodgy to me. |  |
| |
| BHS The end of an era on 17:23 - Apr 25 with 2668 views | londonlisa2001 |
| BHS The end of an era on 16:59 - Apr 25 by pikeypaul |
I see he paid his wife a special £400 million dividend from BHS and she's a tax exile in Monaco.
This whilst there is a £537 million deficit in the pension pot.
Sounds a bit dodgy to me. |
The dividend was from Arcadia not BHS but was one of the most shocking abuses of tax loopholes ever seen.
It's sad about BHS, but then if I'm honest, I cannot for the life of me remember when I last bought something from them. 20 years ago maybe? I imagine many that will be disappointed about it closing (not in Swansea, I mean nationally) will be in the same situation as I am.
I don't know what can be done in some ways - more and more people buy everything from places like Amazon but are then sad to see the disappearance of these old names. If they don't stay relevant then they are bound to close. BHS needed to move towards the John Lewis model to succeed and didn't. Very sorry for their staff — let down by lack of vision at the top. |  | | |
| BHS The end of an era on 17:36 - Apr 25 with 2650 views | airedale |
There was a time when, between Marks and Spencer, one said to the other, 'Wherever you open, we will open next door (or opposite?)' |  | | |
| BHS The end of an era on 17:36 - Apr 25 with 2649 views | monmouth |
I'm still grieving over C&A.
Sad, but that retail model, like Comet and Woolworths has been annihilated by the internet and more fashionable/cheaper competition. They have no real niche. Still amazed Peacocks and the like survive, but I'm no retail expert. |  |
| |
Login to get fewer ads
| BHS The end of an era on 17:39 - Apr 25 with 2640 views | airedale |
Coats and 'Ats. | | | |
| BHS The end of an era on 17:48 - Apr 25 with 2626 views | pikeypaul |
Not bought anything from BHS for about 10 years.It was always a bit drab in there.
Feel sorry for the 11000 who's jobs are now in danger.160 off shops nationwide some of which they owned but the majority leased so that's hell of a lot retail space going spare
no doubt to be filled by the likes of poundland,bargain deals,etc.
The type of things I did buy there I get in Wilkinson's now. | |
| |
| BHS The end of an era on 18:01 - Apr 25 with 2599 views | Swanzay |
While failing to secure funding, Retail Acquisitions directors succeeded in paying themselves a lot of money, with £8.4m paid out in the weeks after BHS was acquired for just £1 from Sir Philip Green.
The payment was for "professional fees" but there are questions as to how much of it ended up in the director's pockets. There were also monthly service charges and one BHS source told me "these directors extracted a lot without providing much value in return".
http://www.bbc.co.uk/news/business-36132440 |  | | |
| BHS The end of an era on 18:17 - Apr 25 with 2574 views | londonlisa2001 |
| BHS The end of an era on 18:01 - Apr 25 by Swanzay |
While failing to secure funding, Retail Acquisitions directors succeeded in paying themselves a lot of money, with £8.4m paid out in the weeks after BHS was acquired for just £1 from Sir Philip Green.
The payment was for "professional fees" but there are questions as to how much of it ended up in the director's pockets. There were also monthly service charges and one BHS source told me "these directors extracted a lot without providing much value in return".
http://www.bbc.co.uk/news/business-36132440 |
When a company goes into liquidation or administration, the administrators or liquidators have a 'look back' period in which any payments made out of the company can be deemed preferential if when the payment was made the company reasonably expected some sort of bankruptcy to occur.
It is illegal to make preference payments to anyone (payments that benefit one creditor or supplier or anyone else over all others).
If, therefore, what is being alleged is true, the administrators have the ability to claw back those payments and distribute them instead to all creditors (including the pension fund if that is a creditor if the company). Note that it doesn't apply if the company at that time didn't think it would end up in liquidation or administration. Any administrator wil look very hard at all this stuff as they have a legal obligation to do the best for all creditors. | | | |
| BHS The end of an era on 18:20 - Apr 25 with 2567 views | WarwickHunt |
| BHS The end of an era on 17:39 - Apr 25 by airedale |
Coats and 'Ats. |
There's a much ruder version... |  | | |
| BHS The end of an era on 18:24 - Apr 25 with 2557 views | airedale |
| BHS The end of an era on 18:20 - Apr 25 by WarwickHunt |
There's a much ruder version... |
Didn't know that, but I thought about it for about 8 seconds and I think I've worked out what it is. | | | |
| BHS The end of an era on 18:36 - Apr 25 with 2539 views | dailew |
| BHS The end of an era on 16:27 - Apr 25 by epaul |
Greene needs to be strung up from a lamppost the utter kunt ystealing from pension pots and buying yachts worth millions while hard woring people lose their jobs.. KIin tories again, Camoron appointed him to look at austerity in 2010, jobs for mates |
Allowed to take £1.2bn out of the country tax-free.
Those damned Tories.
Hang on ... that was under Labor. |  |
| |
| BHS The end of an era on 18:39 - Apr 25 with 2531 views | blueytheblue |
| BHS The end of an era on 16:27 - Apr 25 by epaul |
Greene needs to be strung up from a lamppost the utter kunt ystealing from pension pots and buying yachts worth millions while hard woring people lose their jobs.. KIin tories again, Camoron appointed him to look at austerity in 2010, jobs for mates |
Any evidence he "stole" from pension pots?
I'd say most pension pots are going to be light due to the fact that people are living longer... | |
| |
| BHS The end of an era on 18:45 - Apr 25 with 2523 views | Dr_Winston |
They won't be the last.
The Internet is going to continue to decimate traditional High Street retailing. As the ageing population who don't shop online continue to be replaced by younger consumers who do, retailers are going to keep failing. Some will survive, but there won't be anything like as many.
Yet wasting tens of millions on a shiny new shopping centre is somehow seen as a good idea for Swansea. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
| |
| BHS The end of an era on 18:47 - Apr 25 with 2521 views | londonlisa2001 |
| BHS The end of an era on 18:39 - Apr 25 by blueytheblue |
Any evidence he "stole" from pension pots?
I'd say most pension pots are going to be light due to the fact that people are living longer... |
It's actually because of long term interest rates and also equity returns - buggers up the actuarial calculation no end at either side of it. The other issue is that Companies were allowed pension holidays when the equity markets and interest rates were in their favour, whereas it would have been more prudent to assume that it would change. That's not the fault of the companies incidentally but of the methods used.
But ever since Maxwell, pension pots are absolutely off limits for the company to use in any way, shape or form, including self investment. They can't get to them anymore. | | | |
| BHS The end of an era on 19:38 - Apr 25 with 2472 views | Jackfath |
People getting misty eyed over this shop? Do me a favour. It's been full of tat and ld people shuffling around for years and years. The bosses would it down and didnt bother moving with the times. Boots will be next just retaining their high street shops as pharmacies. The upstairs in Boots in Swansea is an absolute disgrace, dirty and empty. Much like so many of the people wandering around the Quadrant, Swansea's premier shopping experience. |  |
| |
| BHS The end of an era on 19:42 - Apr 25 with 2465 views | builthjack |
Greene needs locking up for a long time. |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
|
| |
| BHS The end of an era on 19:51 - Apr 25 with 2445 views | Lord_Bony |
| BHS The end of an era on 19:42 - Apr 25 by builthjack |
Greene needs locking up for a long time. |
Thing is these loopholes are only just within the law and can be abused on a grand scale which often happens. | |
| |
| BHS The end of an era on 19:59 - Apr 25 with 2433 views | blueytheblue |
| BHS The end of an era on 19:42 - Apr 25 by builthjack |
Greene needs locking up for a long time. |
For what crime exactly? | |
| |
| BHS The end of an era on 20:12 - Apr 25 with 2404 views | blueytheblue |
So now it's a crime to have more than one yacht?
Love the way the Labour paper goes after Green; he sold BHS a year ago... | |
| |
| BHS The end of an era on 20:18 - Apr 25 with 2153 views | Lord_Bony |
| BHS The end of an era on 20:12 - Apr 25 by blueytheblue |
So now it's a crime to have more than one yacht?
Love the way the Labour paper goes after Green; he sold BHS a year ago... |
Over £1,6 billion gone missing ,half a billion of which is the employees pension funds..it seems he and the new people have siphoned off money left right and centre making the business unsustainable. | |
| |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
