Maplin and Toys R Us next to go pop! (6 Viewers)

[Nick]

Toys R Us and Maplin on brink of collapse

Never understood Maplin, very expensive for what they sell so with the internet never understood how they made any money.

 

---

[We'll_live_and_die]

Toys R Us is an institution though. Shouldn't be forced to go pop by the government. We should all pay our tax but maybe struggling businesses should be given some help with repayment.

 

[italiahorse]

Toys R Us is an institution though. Shouldn't be forced to go pop by the government. We should all pay our tax but maybe struggling businesses should be given some help with repayment.

It's not up to the government to bail companies out though.
Competition rules in most cases.

 

[Nick]

Same with Toys r Us, with Amazon and also Smyths undercutting their prices it's not as easy. When I was younger there was no other real option at Christmas than Toys R Us or an Argos book to go and look for what you wanted.

 

[Covrock]

Toys have a big distribution warehouse on the Walsgrave Triangle. More job losses for Cov.

 

[Otis]

Toys have a big distribution warehouse on the Walsgrave Triangle. More job losses for Cov.

My cousin works there.

 

[martcov]

Toys R Us is an institution though. Shouldn't be forced to go pop by the government. We should all pay our tax but maybe struggling businesses should be given some help with repayment.

„The UK business is understood to have made a loss for seven out of the past eight years of trading“

What has that got to do with tax? The government has to treat all retailers equally otherwise you only move the problems of one firm to another by giving, in effect, extra credit to one company. Subsidising a loss making company is detrimental to the others.

 

[We'll_live_and_die]

„The UK business is understood to have made a loss for seven out of the past eight years of trading“

What has that got to do with tax? The government has to treat all retailers equally otherwise you only move the problems of one firm to another by giving, in effect, extra credit to one company. Subsidising a loss making company is detrimental to the others.

What's forcing them to go into admin is the £15million tax bill.

Whilst I agree that the business should be responsible, they ultimately should not be forced into administration by the tax man. (In my opinion).

 

[Captain Dart]

What's forcing them to go into admin is the £15million tax bill.

Whilst I agree that the business should be responsible, they ultimately should not be forced into administration by the tax man. (In my opinion).

Their US parent has not millions but billions $ debt.

 

[shmmeee]

What's forcing them to go into admin is the £15million tax bill.

Whilst I agree that the business should be responsible, they ultimately should not be forced into administration by the tax man. (In my opinion).

Isn’t it pretty much always the tax man that forces admin?

What about other goods and services they’ve benefited from but not paid yet, should we let them off that too?

Tax is payment for services used, it’s not the government being mean FFS. TRU have benefitted from UKs educated populace, our economy, our roads and have had their stock protected by our police. But because the Internet has destroyed their business model you think they should get all that for free and every other tax payer should foot the bill.

Why?

 

[Deleted member 5849]

While I'm all for government subsidies in the right areas...

This ain't it.

 

[Terry Gibson's perm]

The administrators will now take over and charge a fortune, the problem with all these companies and especially Carillion is bad management who make sure their own nests are well feathered, like the ex fd at Carillion selling all his shares before it went pop.

Toys r us had too many big stores and didn’t change quickly enough but that isn’t the fault of the staff but the people earning the big money.

 

[We'll_live_and_die]

Isn’t it pretty much always the tax man that forces admin?

What about other goods and services they’ve benefited from but not paid yet, should we let them off that too?

Tax is payment for services used, it’s not the government being mean FFS. TRU have benefitted from UKs educated populace, our economy, our roads and have had their stock protected by our police. But because the Internet has destroyed their business model you think they should get all that for free and every other tax payer should foot the bill.

Why?

Ah no sorry I didn't make it clear. I believe they should be given a structured repayment plan and not forced into admin. If they fail with that then fair do's but we as a nation are losing too many large retailers from the high street.

I'm not only thinking selfishly about the time that I like to spend there with the kids to waste an hour, but the jobs and revenue that this business brings to the area.

 

[chiefdave]

It's not up to the government to bail companies out though.

Wouldn't want taxpayers money being loaned to companies in financial difficulties would we

Argos book to go and look for what you wanted.

Argos will be gone before long. They were taken over by Sainsbury and they've been shutting high street stores and moving them in to Sainsbury as click and collect.

The government has to treat all retailers equally otherwise you only move the problems of one firm to another by giving, in effect, extra credit to one company.

Nice idea but they don't treat them anything like equally. Look at how little tax some high street stores pay compared to others.

 

[Terry Gibson's perm]

Ah no sorry I didn't make it clear. I believe they should be given a structured repayment plan and not forced into admin. If they fail with that then fair do's but we as a nation are losing too many large retailers from the high street.

I'm not only thinking selfishly about the time that I like to spend there with the kids to waste an hour, but the jobs and revenue that this business brings to the area.

If I waste an hour in there it costs me a fortune they will be gutted it’s closing although my sons best friends dad won’t be as he is a director of the entertainer

 

[Deleted member 5849]

Ah no sorry I didn't make it clear. I believe they should be given a structured repayment plan and not forced into admin. If they fail with that then fair do's but we as a nation are losing too many large retailers from the high street.

I'm not only thinking selfishly about the time that I like to spend there with the kids to waste an hour, but the jobs and revenue that this business brings to the area.

Despite their reputation, HMRC are selfish enough to rather get their cash than not, so if it's got to this stage, it's safe to say negotiations have broken down and they don't see a way of getting their cash in normal circumstances.

 

[Captain Dart]

The administrators will now take over and charge a fortune, the problem with all these companies and especially Carillion is bad management who make sure their own nests are well feathered, like the ex fd at Carillion selling all his shares before it went pop.

Toys r us had too many big stores and didn’t change quickly enough but that isn’t the fault of the staff but the people earning the big money.

Law definitely needs to change to limit salaries & other benefits to directors in non profit situations and to ensure pension contributions are maintained (or the PPF levy must go up).
Far to much abuse of power in loss making companies with large turnovers has been creeping in during the last few years. the workforces only find out late in the day, by that time they're screwed.

 

[Captain Dart]

If I waste an hour in there it costs me a fortune they will be gutted it’s closing although my sons best friends dad won’t be as he is a director of the entertainer

I've heard there is a lot of bankrupt stock coming up for auction.

 

[Deleted member 5849]

Argos will be gone before long.

Hope not! Still get my stupidly cheap furniture from them...

 

[italiahorse]

Wouldn't want taxpayers money being loaned to companies in financial difficulties would we

Correct.
Otherwise we would still be financing 12" coal seams and selling Mini Metros.

 

[italiahorse]

If I waste an hour in there it costs me a fortune they will be gutted it’s closing although my sons best friends dad won’t be as he is a director of the entertainer

I used to love Maplins but it's cheaper online. Still always have a walk round when I'm passing one.

 

[Captain Dart]

Correct.
Otherwise we would still be financing 12" coal seams and selling Mini Metros.

Had a Metro in the mid 80's.. arghhhhhhhhh the nightmares are back.

 

[italiahorse]

Had a Metro in the mid 80's.. arghhhhhhhhh the nightmares are back.

Sorry

 

[martcov]

What's forcing them to go into admin is the £15million tax bill.

Whilst I agree that the business should be responsible, they ultimately should not be forced into administration by the tax man. (In my opinion).

You miss out losing money in 7 out of 8 years. They had plenty of time to close or remedy the situation, but they chose not to pay tax ( or maybe other creditors as well ). It is not the creditors who are at fault.

 

[Otis]

Can I just say, I really like Maplin and use it quite a lot, especially for audio connectors and leads etc.

You look online and are not quite sure what you need and if you go into Maplin they are very, very knowledgeable and also give great advice.

Will miss them.

 

[skyblueinBaku]

I've bought a few things from Maplin and have been very glad I took their advice.

 

[Ashdown]

What's forcing them to go into admin is the £15million tax bill.

Whilst I agree that the business should be responsible, they ultimately should not be forced into administration by the tax man. (In my opinion).

Tough shit, pay up or go bust ! It's the same for everyone or should be. Social responsibility and all that !

 

[Captain Dart]

Can I just say, I really like Maplin and use it quite a lot, especially for audio connectors and leads etc.

You look online and are not quite sure what you need and if you go into Maplin they are very, very knowledgeable and also give great advice.

Will miss them.

Who else remembers that old electrical components unit in the City Arcade near where Argos is now?

 

[dutchman]

Who else remembers that old electrical components unit in the City Arcade near where Argos is now?

'Electronic Services', I remember when they were located in Gosford Street. There was another much larger one (R.E.S.) in Much Park Street and of course Poole's in Cox Street which was trade-only.

This is the original Electronic Services shop, it was forced to move to the City Arcade in 1967 when the Ring Road flyover was constructed:

 

[Grendel]

Toys R Us is an institution though. Shouldn't be forced to go pop by the government. We should all pay our tax but maybe struggling businesses should be given some help with repayment.

It’s an American company. It’s revenue globally is around £7 billion. We can’t subsidise a uk arm of an American company that’s been abandoned from the portolio

 

[martcov]

Who else remembers that old electrical components unit in the City Arcade near where Argos is now?

I remember Barnby‘s Toy Shop. Loved it as a kid. These small ( relatively) toy shops bit the dust when the ToysRus concept arrived. That’s life.

 

[Terry Gibson's perm]

I remember Barnby‘s Toy Shop. Loved it as a kid. These small ( relatively) toy shops bit the dust when the ToysRus concept arrived. That’s life.

That was a great store always got mt subuteo and scalextric stuff there

 

[Captain Dart]

That was a great store always got mt subuteo and scalextric stuff there

I was a regular. Checking out if Airfix had released a new kit damn near every week. Upstairs for the real stuff.

 

[Otis]

I was a regular. Checking out if Airfix had released a new kit damn near every week. Upstairs for the real stuff.

And a basement for the hardcore.

Or didn't you know about that?

 

[Captain Dart]

And a basement for the hardcore.

Or didn't you know about that?

nooooo.. you just spoiled my childhood you monster.