Blooming Marvellous going into administration?

[Kittykins]

The Blooming Marvellous website went down at the end of last week (often a sign that the company's in trouble) so I've been looking out for news on the company in the business pages. This article was in today's The Times.

http://business.timesonline.co.uk/tol/b ... 446695.ece

Apparently the stores are still trading, even though the website's not - but if anyone got given gift vouchers for there for Christmas, you'd better spend them quickly!

 

[Kittykins]

Forgot to mention - the other company listed in the article as possibly going into administration is Mosaic, which might not mean much to anyone, but it's the parent company of Karen Millen, Oasis, Coast, Principles, and Warehouse, amongst others. It's likely to find a buyer (the reason it's in trouble is because it was financed by an Icelandic bank) but even so, several stores are likely to be closed - and if it doesn't, they all will. More gloom and doom...

 

[bonny]

It makes me sad that all these big companys are closing. If the big companys are in trouble then we really must be in a mess! I never for one second thought a huge company like woolworths would close for good. More have followed since. Its they employees i really feel for being out of work at christamas and just after.

 

[Suzie and Faith]

I went to look on their website and was suprised to see it down

Looks like Tesco actually will rule the world

 

[bazaar]

sad as it is - I'll be heading down to my local store to see what bargins I can pick up - they were always slightly over priced so maybe thats why.

As for Mosaic - I would imagine the topshop group (arcadia??) will be looking into that one.

 

[Hazel]

Looks like Tesco actually will rule the world

I've been saying this for years. Convenience is the key as you can get everything you need in one place and park easily and for free. I see high street travel agents being the next thing to go as internet is cheaper for holidays.

 

[rachie29]

Looks like Tesco actually will rule the world

I've been saying this for years. Convenience is the key as you can get everything you need in one place and park easily and for free. I see high street travel agents being the next thing to go as internet is cheaper for holidays.

totally agree... the main reason I think this is all happening is because its easier and cheaper to shop online or you get everything from your local supermarket... discount places like Matalan and Primark are so much cheaper as well that why would you spend 60 quid on a jumper in warehouse when you can get an identical one in tesco for 20quid.. (true that is cos I did it)

 

[nickilubs]

Looks like Tesco actually will rule the world

I've been saying this for years. Convenience is the key as you can get everything you need in one place and park easily and for free. I see high street travel agents being the next thing to go as internet is cheaper for holidays.

Thompson have been advertising like mad recently after all the plane comps going down. The florist I work at had 2orders for christmas eve Normally it would be 200 orders. Its rubbish, luckily has picked up now after christmas for some reason???

 

[claire2711]

all the wee shops are screwed

 

[Lou]

But to be fair why would you pay blooming marvelous prices when you can get cheaper maternity clothes at other high street shops? I think some companies go bust because they get greedy.

 

[mrs_tommo22]

i agree blooming marvellous are horrendously expensive!

 

[lisa&alex]

some big companies are were already in debt before the credit crunch.. but have probably covered costs by the end of year profits.. having big spences.. little sales paying staff = debt.. net profit is less so i can see why companies are throwing the towel in..little businesses are very very likely to struggle, i guess they have to sell what they know people need and price them right, £ land are growing lol..it is sad to see shops close..

 

[Lou]

I wasn't surprised to see Woolworths close, they did sell alot of old crap. Going in Woolies was part of my childhood though, they had one in Wimbledon high street.

I never bought anything from Blooming Marvelous although they did have some lovely stuff, was way out of my price range

And Adams is closing. I didn't know but they made clothes for Boots. I think was that the mini mode (is it called?) range? I bought Isaac some lovely pj's from Boots at christmas

 

[Squiglet]

Its a little bit more complicated than just big companies in debt... and now things are more expensive. A lot of companies had invested money in foreign investments...money they had and would use, should the companies struggle due to rising prices and thin profit margins. However, due to the subprime mortgages fiasco in the States a lot of these investment companies...like the Lehman Brothers, Icelandic banks... went belly up as the had been investing in the subprime mortgages... taking everyones money with them...

So as profits dropped, general running costs increased, thats when they began to struggle because they didn't have their investment funds to sink into the companies dwindling coffers.

While smaller companies won't have the same issues... Britains economy is almost entire serviced based. Most products are shipped in... so with the world economy now loosing faith in the UK the pound has slumped and you will find that everyday imported items will get more expensive like clothing, food etc. At the moment the money I earn is almost equal to the pound. Its great news for me being paid in € but not so great for people who trade in pounds like my parents

 

[Squiglet]

Excuse the errors...lil miss has fallen asleep on the boob in an awkward way and I have to sorta twist my arm round to type properly...

 

[ASD123456]

sad as it is - I'll be heading down to my local store to see what bargins I can pick up - they were always slightly over priced so maybe thats why.

As for Mosaic - I would imagine the topshop group (arcadia??) will be looking into that one.

Yep, Warehouse is already part of Arcadia and I wouldn't be surprised if the others soon will be.

It's a shame about Blooming Marvellous. I liked having a browse but the prices were stupid!

Imagine the closing down sale though

 

[DebbieM]

Olan Mills has gone AGAIN too.