Arcadia Group goes into Administration

[Daisy]

What sad news just before Christmas that the Arcadia Group has collapsed. Thirteen thousand employees' jobs are at risk.

So many High Street names - Topshop, Topman, Miss Selfridge, Dotty P's, Evans, Burton ... The high streets up and down the country will have a lot of empty units if buyers can't be found.

[Oma]

I have never used those shops but I feel so sorry for all the staff ,
I do hope a takeover can be found , look how badly Tizzy was effected when Carillion went bust ,
We have 2 units on our retail with these names in employing a lot of local people ,

Such hard times ahead for thousands and right on Christmas , so sad

[Nanto2girls]

I havent used those shops personally, but have bought vouchers in the past for presents.
Not good news just before Christmas for the staff.

[Gemini]

So much sad news and hardship for so many this year.

[Plantaholic]

All very good shops, Philip Green is on his Yacht. Even their pension fund is at risk.

[Glammanana]

The media states that the Green's are now down to their last 950 million I wonder if they will manage on that amount and if they will think of the poor staff who will possibly lose their jobs,I do use Debenhams for bedding etc and will miss it in the high street.

[Daisy]

Plant - if their pension fund is at risk that's scandalous. I thought they were protected, but if not, they should be.

[Clover]

Debenhams is a large presence in our main shopping centre. I hate to think of it being empty. I can’t imagine any retailer wanting to take on such large premises as a whole. Even more sorry for all the redundant staff. A nightmare for them.

[Plantaholic]

I have read there is a shortfall in the pension scheme of Arcadia of 350 million.

[Daisy]

Plant - that is shocking and 'someone' (Philip Green??) should be made responsible for it, it that is the case.

Clover I always like Debenhams and it was the only store card I ever had. Then they changed it to being a credit card so I cancelled it. At one time they didn't have all those concessions (like the Arcadia Group shops!) and I think with hindsight (a wonderful thing!) the concessions were a mistake. You had less reason to go in the store because those shops were also on the high street.

[Daisy]

I've just read an article that says that Arcadia gift vouchers, bought in good faith by people before the group went into administration will only be worth half of the face value - so to buy £50 of goods you would have to have a £100 voucher, and no change from it!

It seems that administrators do not have to accept gift cards.

This doesn't seem right or fair to me!


EDIT - I've just had a thought. I wonder what would happen if you tried to return a gift voucher as 'not fit for purpose'?

[Gemini]

I read about that Daisy.
Trying to return them is probably worth a try, but I doubt it would work! I think there is some small print on vouchers about them worth being .001 penny or something.

A lovely expensive and luxurious spa in York closed down several years ago, and people with vouchers for there had a small window of a few days to use them, if they could get booked in. Many people lost out.
Much as I approve of the giving and receiving of vouchers as gifts, it may be safer to give the cash, or make up a voucher for what ever it is, which the recipient returns to the giver to cash in when they want to use it.

[Oma]

Martin Lewis was on TV saying a lot of these shops will now only take the Gift Vouchers as part payment so if you have say a £10 voucher you must spend £20 to be able to use it
That is shocking .He said get them spent in next few days .

[Sunshine]

I saw the Martin Lewis show too Oma. He has always said gift vouchers are not a good idea in case the store goes bust. This year has been worse than most. He says to use the vouchers you have already bought straight away. Does that mean the recipients will all get early Christmas presents that they have to pay half again, in order not to lose the full value? Ummmm! I only ever buy Amazon vouchers or give them a cheque. (I hope I’m not being naive thinking Amazon are safe.) Cheques are probably the safest bet. They can be paid into the bank by just photographing them. I don’t know how you do it but the youngsters all seem to know how. If the money isn’t being sent by post then cash is as good as anything. Good luck everyone.

[Daisy]

Just imagine how many disappointed youngsters there will be if they find their lovely gift vouchers cost them money to be able to use them. A lot of shops don't even want cash at the moment - it's plastic or nothing. DS2 was saying he can't remember last time anybody paid by cheque in their shop - although they are quite happy to accept them.

It frightens me that we are rushing headlong into being a cashless society, which combined with so many ATMs disappearing will make it difficult for a lot of people, especially if they're not online or live in rural areas where the nearest bank is half a day's bus ride away!