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  1. #2001
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    Quote Originally Posted by LAC View Post
    Dicksmith have good store locations IMO, I think that is somewhat of a positive if they can buy it for peanuts
    They can buy the business for peanuts , but the store locations will come with costly Rent/ leases .Unless these could be negotiated down considerably it makes retail hard to turn a profit from those High st locations .... Hence the number of failures with clothing companies etc recently in retail .

  2. #2002
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    So what would the current leases be worth if nobody buys DS? I would think the Landlords will take much bigger losses short term if DS close shop, wont they?

  3. #2003
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    Quote Originally Posted by LAC View Post
    So what would the current leases be worth if nobody buys DS? I would think the Landlords will take much bigger losses short term if DS close shop, wont they?
    DSE accounts show a lease liability of $41m in NZ

    The Administrator can walk away from as many as he likes. Worried landlords out there?
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #2004
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    Quote Originally Posted by LAC View Post
    So what would the current leases be worth if nobody buys DS? I would think the Landlords will take much bigger losses short term if DS close shop, wont they?
    From my experience of dealing with landlords , in one instance we offered 50 % , of what was over rented . They said no , it was empty 18 months later ....
    Most of the properties will be owned by someone like AMP prop trust etc , so they can withstand a period of non rental . But they will be stubborn as to lower the rent sets a dangerous precedent for other tenants ..... If they are good locations as you say someone else will step into the breach and pay market rental ....

  5. #2005
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    Quote Originally Posted by stoploss View Post
    From my experience of dealing with landlords , in one instance we offered 50 % , of what was over rented . They said no , it was empty 18 months later ....
    Most of the properties will be owned by someone like AMP prop trust etc , so they can withstand a period of non rental . But they will be stubborn as to lower the rent sets a dangerous precedent for other tenants ..... If they are good locations as you say someone else will step into the breach and pay market rental ....
    Interesting..... Guess its like Sky refusing to pay top dollar for content cos all the other content providers will follow suit

  6. #2006
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    Hi guys and gals,
    Long time follower, few time poster...

    I've held WHS for a few years now, (though thinking of selling at a lost) because I'm coming to be disillusioned with it all, half the stuff they have is crap that only lasts for a week or so (school bag for $20, that lasted 7 school days), shoes that lasted 4! and also, I cant help but think K-mart is better value AND quality, (I'm in Napier, we dont have a Kmart but Hastings do)
    Over Christmas looking for toys, i noticed Whs had a racing tracking for $33,..K mart had the exact same one for $17, a toy mouse that moves WHS $29, Kmart $20, among a few other noticeable price difference's
    Plus when you walk in Kmart, it is always tidy, clean, WHS, everything is always open, and out of place!!

    Ok rant over, heading back to my shell!

  7. #2007
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    Quote Originally Posted by alliswell View Post
    Hi guys and gals,
    Long time follower, few time poster...

    I've held WHS for a few years now, (though thinking of selling at a lost) because I'm coming to be disillusioned with it all, half the stuff they have is crap that only lasts for a week or so (school bag for $20, that lasted 7 school days), shoes that lasted 4! and also, I cant help but think K-mart is better value AND quality, (I'm in Napier, we dont have a Kmart but Hastings do)
    Over Christmas looking for toys, i noticed Whs had a racing tracking for $33,..K mart had the exact same one for $17, a toy mouse that moves WHS $29, Kmart $20, among a few other noticeable price difference's
    Plus when you walk in Kmart, it is always tidy, clean, WHS, everything is always open, and out of place!!

    Ok rant over, heading back to my shell!
    Agreed!

    I hadn't been to Kmart for 5+ years and the last time I went it was complete junk. But recently a few people have been telling me how it is better than The Warehouse and that you can get some decent quality stuff. So I recently went and was quite impressed, still not a fantastic place, but decent prices, decent quality and best of all it was tidy and it didn't feel like I was in some discount dump store. Quite impressive how they have turned it around.

    I sold my WHS last year at a slight loss, but still follow their moves. They have been starting some interesting ventures e.g. finance and mobile services...but every time I go there I walk out wondering why I even bothered going in....

  8. #2008
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    Quote Originally Posted by winner69 View Post
    DSE accounts show a lease liability of $41m in NZ

    The Administrator can walk away from as many as he likes. Worried landlords out there?
    http://www.stuff.co.nz/business/7728...ose-all-stores

  9. #2009
    Speedy Az winner69's Avatar
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    After the initial flood of junk on to the market you would have to think that Noel leeming will pick up some additional business .... although there service etc isn't much better than Dick Smiths
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #2010
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    Quote Originally Posted by winner69 View Post
    After the initial flood of junk on to the market you would have to think that Noel leeming will pick up some additional business .... although there service etc isn't much better than Dick Smiths
    Big plus for JB and Harvey N....

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