House of Fraser joins the banned list

#16
Posted this on another thread:
Defunct business model now I’m afraid. Huge stores with huge business rates and rents. Heading for a fall especially when he turns them into JumbleSale.com. Hopefully he’s flushed £90m plus down the toilet.
Oh and and I don’t think any Bears will be rushing to shop there any time soon.
 

wsb&warmy

Well-Known Member
#19
House of Fraser has been of no use to me since they done away with their J.Lindeberg section in the menswear department anyway. F**k them.
 
#20
A reminder he also owns Cruise and is involved in the marketing / retailing of Stone Island and CP company in the UK.

Talk of boycotts.....all very good but he’s not dependent on Sports Direct for his money now (and that’s the companies we know / it’s public we know he’s involved with
 

ibroxbound

Well-Known Member
#22
Posted this on another thread:
Defunct business model now I’m afraid. Huge stores with huge business rates and rents. Heading for a fall especially when he turns them into JumbleSale.com. Hopefully he’s flushed £90m plus down the toilet.
Oh and and I don’t think any Bears will be rushing to shop there any time soon.
If you think Ashley put up £90m to make a loss,then think again.
No matter what we think of him,he won't be going anywhere fast in the near future.
What he's doing to us is a personal fight against King and to be honest,any boycott from us won't even pierce his business model.
 

vinnie

Well-Known Member
#30
SDI just bought all their UK stores. Funny they just went into admin an hour or so ago, then this happens. Almost planned.
I saw a story down here weeks that they were in talks. HoF needed someone to buy and save them. Fat boy was the only one willing to do it.

No details on how he’s trying to %^*& them like ge fucked us yet. But expect stores to close and HoF online presence to go through the roof.
 
#32
If you think Ashley put up £90m to make a loss,then think again.
No matter what we think of him,he won't be going anywhere fast in the near future.
What he's doing to us is a personal fight against King and to be honest,any boycott from us won't even pierce his business model.
A friend of mine is a supplier to Ashley and has been for over 20 years and knows him well. It’s an ego thing with him. He would blow £90m or at least risk it to try and prove he’s the best retailer/a turnaround expert but IMO this ships not turning with that prick at the helm. Shame about the jobs but it will be a car crash at some point. Just hope Ashley keeps digging that hole.
 

Porto Loyal

Well-Known Member
#33
I saw a story down here weeks that they were in talks. HoF needed someone to buy and save them. Fat boy was the only one willing to do it.

No details on how he’s trying to %^*& them like ge fucked us yet. But expect stores to close and HoF online presence to go through the roof.
Yeah, offered them money then removed the offer and picked them up for much less out of administration. Something he has history of as well
 

ibroxbound

Well-Known Member
#36
A friend of mine is a supplier to Ashley and has been for over 20 years and knows him well. It’s an ego thing with him. He would blow £90m or at least risk it to try and prove he’s the best retailer/a turnaround expert but IMO this ships not turning with that prick at the helm. Shame about the jobs but it will be a car crash at some point. Just hope Ashley keeps digging that hole.
I would think,in this case,that the property values of some of the stores would make his investment a safe bet.
 

Porto Loyal

Well-Known Member
#38
I wonder how many of the HoF stores own their property? The Edinburgh one was rented, but I think Jenners is owned.

There might be a lot of valuable real estate for flats etc
 
#39
I would think,in this case,that the property values of some of the stores would make his investment a safe bet.
Most stores are leased and any that are now owned by Ashley IMO are now white elephants. Look at how many BHS stores throughout the country are lying empty. The high street has changed beyond all recognition.
 

ibroxbound

Well-Known Member
#40
Most stores are leased and any that are now owned by Ashley IMO are now white elephants. Look at how many BHS stores throughout the country are lying empty. The high street has changed beyond all recognition.
The Glasgow store would be a prime property for flats or an upmarket hotel.No need to keep the properties in the retail sector.
 

TCWNS1872

Well-Known Member
#42
I would think,in this case,that the property values of some of the stores would make his investment a safe bet.
In one my man.

HoF and Cruise used to be my prime sources of de rigueur once upon a time but that was a long time ago. Thank God I spent gift vouchers that I had forgotten to redeem back in June.

Doubt he'll turn the brand into a jumble sale though. He's not daft.
 

jdm1873

Well-Known Member
#44
For as much as we all hate the guy, there is no doubt he is a very astute businessman and he knows how to make money

The company goes in to administration and he snaps it up for a pittance considering the value of the stock etc
 
#50
Pants,
I worked in HOF on Buchanan Street from 1996 to 2003, I went from a quiet 16 year old school boy from Airdrie, through University and I even flew home from working in Banking in Frankfurt when 22 and 23 and worked my Sunday shift in Frasers as all my friends were there.

Great memories and great people, Andy who used to phone me up in Geordie Accent and ask for a large order of nonsense to be sent to metro store was reason internal transfers were cancelled....who before admin I go to Euro games with.

At wedding there were 40 women/old dears who were like family who were at the Brig o Doon in a mini bus after working the Saturday shift.

Met various people, All Saints (very first night), Jill Dando, Corrs, Jackie Bird (trollop), Shereen/Kirsty Young. Billy C, Rab C, women from Taggart Blyth (asked for long matches!), Fiona Phillips, Kay Adams, Stellios from Easy Jet Natalie Imbruglie/Emma Harrisons neihbours, Mark Philapousos, Tony Vidmar, Lionel Charbonnier, Numan, Gio, Walter, Ottmar Heitzfeld, Jimmy Nicholl (gave 20% off his order as McStay missed penalty), Gattuso, Ian Ferguson, Reyna, Alex Ferguson, Michael Ball, Amo (day he was stripped of captaincy with his mum and dad), Sergio P who bought 4 cups and saucers for £500 and not to forget Michael Mols who I got to know well.

Was a great place to work, though now it will be John Lewis for me.
 
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