High street stores fall on hard times
PLYMOUTH city centre toy shop Hawkin's Bazaar has closed, gift retailer Past Times has gone into administration and the parent firm of fashion outlets Peacocks and Bonmarche is due to follow as the high street suffers more woe.
The Hawkin's Bazaar store in the lower part of New George Street put up the shutters shortly after administrators were called in at Tobar Group Holdings Limited.
Meanwhile, the Peacock Group has said it intends to appoint an administrator after talks with its lenders broke down.
There is a branch of Peacocks in the Armada Centre, and a Bonmarche in New George Street. And last night administrators were called in at Past Times, the loss making high street business which has already closed 46 stores, axing 507 jobs.
The Plymouth store is one of 51 remaining stores continuing to trade under administrators "in the short term" as attempts are made to sell it as a going concern.
Plymouth's Hawkin's Bazaar was one of a chain of 65 outlets nationwide, but from last week just 11 were still trading as administrators Zolfo Cooper tried to find a buyer.
More than 400 workers have lost their jobs. The loss of the Plymouth branch means another empty unit in lower New George Street, following the closures of such high-profile recession victims as Woolworths, Derry's, TJ Hughes and the Officers Club.
The area also hosts a branch of video games retailer Game, which last week announced it will not meet a banking covenant next month after recording a plunge in sales.
There is also a branch of Blacks, where last week jobs were saved when the parent company was bought out of administration.
However, a report to Plymouth City Council's Growth and Prosperity Overview and Scrutiny Panel, last week, revealed that across the city centre the 52 closed retail units gives a vacancy rate of 11.3 per cent, against a national average of 14.3 per cent.
Hawkin's Bazaar sold novelty gifts and toys but ran in to trouble after what Zolfo Cooper called "exceptionally challenging trading conditions".
8 Comments
by BillyBall
Tuesday, January 17 2012, 9:38AM
“We never really surfaced from the previous recession. Gordon the Clown tried to print his votes. That had to run out at some point.
Depression next stop.”
by Tessa43
Tuesday, January 17 2012, 9:31AM
“Won't be any point in going to the city centre soon, there won't be any shops left in a minute. The council really need to look at cutting the rents a bit just for a while. Plymouth is fast becoming a ghost town.”
by Asyouwouldbedoneby
Tuesday, January 17 2012, 9:26AM
“The name Past Times just about sums it all up! Very sad.”
by maxine711
Tuesday, January 17 2012, 9:14AM
“how sad but maybe the council (i assume the council own most shops in town) should look at lowering the shop rents because yes once upon a time new george street, well any of the main streets in there were prime sites but this is not the case anymore - the rents combined with business rates and everything else its no wonder the smaller traders cannot keep going on if national chains are struggling and going under - looks like eventually all we'll have is the mall probably and a few shops surrounding it up top end of town.”
by thebannedone
Tuesday, January 17 2012, 8:34AM
“Difficulty selling toys at Christmas and no winter purchases for warm coats. Fewer larger holidays purchased, insurance premiums rising, FTSE 100 down on last year.
Sounds like a recession...
Poor and the sick being penalised, unemployed penalised, bankers getting as big a binus as ever.
Smells like a recession...
Someone hoarding rotten food, lack of parental control, judiciary not cognizant of reality...
Looks like a recession...
At least we have not (yet) got spiralling inflation, trans-border debt - er wait... theres the Incinerator, which we Plymothians not wanting will have to foot the bill...”
by 9ab3jdr622l
Tuesday, January 17 2012, 8:30AM
“Exeter...John Lewis
Says it all really.”
by Mlifeboat
Tuesday, January 17 2012, 7:32AM
“These are very sad times indeed for a very proud city. Do we blame the internet for reducing overheads and selling things at a more affordable price or do we blame the fact that there doesn't seem to be much money around either in this part of the world or UK as a whole?
One thing is true though and the rich do seem to be getting richer and the poor poorer. A sign of the times perhaps or has it been ongoing for ages and we have not really paid too much attention to it?
The South West in general is not an oasis for jobs or high wages so good luck to the unfortunate ones who have lost or may lose their jobs because of these closures. I do know the feeling having been there myself.
Mandy Lifeboat xx”
by ChrisOPrayse
Tuesday, January 17 2012, 7:23AM
“52 empty shops in the centre of Plymouth - another four, five or six on the way with these latest announcements. HMV, Clintons and Thomas Cook are all hoping that RBS will keep them afloat (which they have refused to do for Peacocks).
Already more than one on 10 Plymouth city centre shops is empty and this year looks set to be a bloodbath on the High Street.”