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Thread: Wetherspoons Wick to be sold

  1. #1
    Join Date
    Jul 2008
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    Thurso, Caithness
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    4,201

    Default Wetherspoons Wick to be sold

    Wetherspoons in Wick is to be sold off, Alexander Bain in Wick will likely be rebranded with new names and menus if they are taken over.

    https://www.dailyrecord.co.uk/news/s...-find-14238791

    Deep into that darkness peering, long I stood there, wondering, fearing, doubting, dreaming dreams no mortal ever dared to dream before.

    Edgar Allen Poe

  2. #2
    Join Date
    Nov 2005
    Posts
    1,004

    Default

    Wetherspoons stated " whoever buys it would need deep pockets " the reports says mega deep pockets and then some . It's a money pit in the making . Maybe the Council will buy it as their great at throwing taxpayers money at any black hole , but not potholes.
    Last edited by dozy; 06-Apr-19 at 21:23.

  3. #3

    Default

    They are selling off 16 pubs, so not just here.

    https://www.walesonline.co.uk/whats-...oBHEsrl35Q8KOY

    Click image for larger version. 

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  4. #4

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    If wetherspoons can't run the Alexander Bain at a reasonable profit with the buying power of their business, I doubt anyone can. A real shame.

  5. #5
    Join Date
    Feb 2001
    Location
    Wick, Caithness
    Posts
    1,598

    Default

    Take care not to read that a pub is up for sale in a big chain and that therefor it is necessarily making losses.

    There may be many reason to sell off pubs. Rationalisation may be required to reduce over all expenses.

    Return on the capital outlay may be part of it.

    They may also need cash for other reason - eg to service or reduce existing debt.

    They may also be testing the water to see what the pubs are worth in the open market and may keep them or some of them if they cannot reach a target price they have set for themselves.

    Potential buyers will want to see the books to check the gross and net profit levels and what if any room there is for improving the bottom line if they invest in it.

    There is much more to this than merely that only a big chain can run a profitable business. The business is on the market - it is not closing. It has a lot going for it - large premises et c etc
    Last edited by Bill Fernie; 09-Apr-19 at 18:02.

  6. #6

    Default

    Weekers not drinking enough to keep a pub going? Who would have believed it?

  7. #7
    Join Date
    Jul 2002
    Location
    Caithness
    Posts
    1,285

    Default

    So spoons are not selling after all. That's good news. Just need Birons to change their mind as well. 🙂

  8. #8
    Join Date
    Jun 2011
    Location
    20 Bridge Street, Wick
    Posts
    165

    Default

    Quote Originally Posted by Geo View Post
    So spoons are not selling after all. That's good news. Just need Birons to change their mind as well. 
    Good news for Spoons, (if true).

    The future of Birons is firmly in the hands of the HighlandCouncil and their “blunt instrument approach without consultation” to “traffic management” that will have a very negative affect on the towns “stake holders”.
    Interpretations by request.
    Visit our shop at 20 Bridge street, Wick
    Tel/fax 01955 604655
    'like' us on Facebook - BironsIronmongersWick

  9. #9

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    No. The future of Birons is in your hands.

    Don’t whinge. Sell!

  10. #10
    Join Date
    Feb 2001
    Location
    Wick, Caithness
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    1,598

    Default

    The parking issue was discussed and debated many times at Wick community council and always they wanted the Highland council to take action to stop parking in the main street. The meetings were open to the public and no voices were opposed as far as I recall. Certainly it may well be that folk forget and few ever attend the meetings so it is understandable if you don't know what has happened in the past. Perhaps this may be discussed once again at the Town Centre regeneration meeting on Monday 10th June in Mackays hotel - it is for the public. Although I am sure parking is not supposed to be the main topic for regeneration. If too long is spent on that then we will not get some new ideas getting proper discussion.

    An interesting debate was on tv yesterday from Westminster about business rates and mention made of taxation on digital sales etc but that will probably not come in time to save High Streets across the country. All taxes business rates or other wise go to running services so let's hope they get a move on with changes in that direction. Will it create an even playing field for the High Street - perhaps a little but we cannot turn the clock back and even the big stores are wilting under internet competition.

  11. #11

    Default

    It’s good to hear that Westminster are at least discussing taxation of digital sales. Recall that we discussed this issue in a previous thread:

    http://forum.caithness.org/showthrea...56#post1182156

    Immediate action is required to preserve the nature of our high streets. IMHO of course.

    It’s also necessary that retailers provide justifiable arguments for closing down.

  12. #12

    Default

    "It’s also necessary that retailers provide justifiable arguments for closing down."
    Er, no... it is not. Unless you are living in a communist dictatorship.
    If a man decides it ain't worth the grief, then he can do as he pleases.

  13. #13

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    It is absolutely necessary for retailers to give justifiable reasons for closing down in order to convince the politicians to change policies on high business rates in town centres and to charge fair taxes to online retailers.

  14. #14
    Join Date
    Aug 2012
    Location
    Wick
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    Default

    Justifiable reasons are high business rates and not charging fair taxes to online businesses. Mackerel is right though, it isn't necessary for any business to give reasons why they are closing down.

  15. #15
    Join Date
    Jul 2008
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    Ubique
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    Why this sudden rush to tax internet sales? To save the local high street shops? If you believe that you'll believe anything; any such revenue will quickly disappear into the treasury coffers in Wasteminster. In my experience many high street retailers have no interest in selling anything outside a narrow range of offerings. Whether its clothes, shoes, fixtures or fittings many can't or won’t even order a different size or colour for you. My only alternative has been to go online. I can quickly find what I want, order it online and have it delivered to my door, so I don't have to hunt through a myriad of local retailers to find what I need. Local shops cannot possibly hope to cater for the vast amount of choice that the major internet retailers offer. Time to let go of the past and move on.
    'We are more alike, my friends, than we are unalike.'
    Maya Angelou

  16. #16

    Default

    I’m advocating fair taxation of online retailers rather than taxation of digital sales. I used Bill’s expression without clear thinking. Thanks for pointing out my lapse.

    I think Gronnuck is right. My twist is that high street retailers need to come up with a new business model if they are to survive.

  17. #17
    Join Date
    Jun 2011
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    20 Bridge Street, Wick
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    165

    Default

    Quote Originally Posted by aqua View Post
    My twist is that high street retailers need to come up with a new business model if they are to survive.
    Our business model of being able to supply goods and services that no other business wanted to bother with was working fine until a decision was made to litter the town with double yellow lines in order to turn the car parks into cash cows. We bought our shop because it was both visible and accessible, when you start to mess about with a fine balance without consultation something will to topple over.
    Visit our shop at 20 Bridge street, Wick
    Tel/fax 01955 604655
    'like' us on Facebook - BironsIronmongersWick

  18. #18

    Default

    As I have pointed out before, you don’t have hard evidence for your claims about double yellow lines.

    Do you have any evidence for your “cash cows” accusations?

  19. #19
    Join Date
    Jun 2011
    Location
    20 Bridge Street, Wick
    Posts
    165

    Default

    Quote Originally Posted by aqua View Post
    As I have pointed out before, you don’t have hard evidence for your claims about double yellow lines.

    Do you have any evidence for your “cash cows” accusations?
    aqua, I work from a position of complete transparency and have always posted under my own name or my company name, the same cannot said for yourself. If you are truly interested in the position I find myself in please call by the shop and I will show you round both shop and storage area, also you can see my books, spread sheets and bank balance, then you can decide for yourself if I am doing the right thing or not. I have been in the game long enough to know that the proposals that have been put forward for the centre of Wick are flawed.
    Visit our shop at 20 Bridge street, Wick
    Tel/fax 01955 604655
    'like' us on Facebook - BironsIronmongersWick

  20. #20

    Default

    As I have oft repeated, you have no hard evidence to back up your claims. You don’t know what will happen to your trade in a settled situation after double yellow lines have been in place for a significant time. You are merely speculating based on your sales during short disruptive events. You can repeat your speculation as much as you like, it won’t change anything.

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