UK Greetings card chain Clintons in survival talks with Landlords

Greetings card chain Clintons is considering shop closures and rent cuts as part of a survival plan.

The retailer, which has about 2,500 staff, is in restructuring talks with landlords in another sign of the High Street crisis.

A spokeswoman told the BBC no decisions have yet been made.

Clintons was responding to reports on Sunday that it wanted to close 66 out of 332 shops, with landlords slashing rents on most of the other stores.

The restructuring would involve a controversial scheme known as a company voluntary arrangement (CVA), an insolvency process that allows companies to continue trading while pushing through closures and rent cuts.

A Clintons spokeswoman said “discussions are continuing with our landlords but no decisions have been made”.

But she declined to comment on a Sunday Telegraph report that the company told landlords 90 of its shops were loss-making and that sales were expected to continue to decline.

Source: BBC News

Property Purchase: What is Indemnity insurance and do I need it?

In a UK property purchase, Indemnity insurance is used during conveyancing transactions to cover some sort of legal defect with the property which can’t be resolved swiftly, or at all. For example if there is a relatively obscure legal problem such as a problem with the deeds with virtually no chance anyone is going to make it a problem in reality, but to sort it out means going to the other party involved and can make the process very expensive, very slow or impossible. It is a one-off payment for a policy that then lasts forever

In these sort or cases an indemnity insurance policy is ideal – should the unusual problem ever show its face then you are covered by the policy. If you’re offered such a policy, its important to bear in mind what it does or doesn’t cover. For example, a policy in respect of missing Building regulations will not cover the cost of doing the work properly, but only the cost of following through any action taken by the local authority – if they don’t take any action and they won’t after the works have been up for a year then you won’t be able to claim. Your legal adviser can advise on the policy for you.

 

For property investment in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

UK Babycare retailer Mamas & Papas has gone into pre-pack administration

British maternity chain Mamas & Papas has reached out to administrators as part of an effort to stem losses in a ‘pre-pack’ deal with administrators Deloitte, resulting in six store closures in the UK and dozens of job losses.

The struggling retailer is the second babycare brand to call in administrators this week after rival Mothercare announced the closure of all 79 of its UK stores on Tuesday.

The ‘pre-pack’ deal between company owners Bluegem Capital, which acquired Mamas & Papas in 2014, and administrators Deloitte aims to cut store losses by selling off assets to other companies within the Mamas & Papas Group.

Six unprofitable stores in Aberdeen, Preston, Milton Keynes, Lincoln, Leamington Spa and Fareham have now closed with 73 members of staff losing their jobs.

A further 54 jobs are at risk as the store looks to “review and simplify” operations at its head office in Huddersfield.

The company says its 26 remaining stores will continue to trade as normal and online orders are unaffected by today’s announcement.

Riccardo Cincotta, Executive Chairman of Mamas & Papas, said: “These actions are always difficult but they are also necessary in a challenging market to ensure Mamas & Papas achieves its considerable future potential.

“We remain fully focused on maintaining our position as the UK’s most popular nursery brand.

Source: Manchester Evening News

Eco Living: Plants for family gardens

One of the ways of achieving eco living is by having a family garden where you can grow plants for environmental protection and food. A family garden is like an outdoor room, a space where the family can relax, play and interact with nature.

In a family garden you need tough plants that are easy to look after and safe with children around: avoid fragile blooms, anything with thorns, or plants that can cause skin irritations or that are poisonous to eat. Teach children never to put leaves, flowers or berries in their mouths.

A good backbone of easy-care shrubs will provide structure, then add a few perennials for both colour and fragrance. Lavender and chocolate cosmos (Cosmos atrosanguineus) are good choices for their lovely scent, as are Mexican orange blossom (Choisya ternata) and the thornless rose ‘Zephirine Drouhin’. You could also consider mallow (Lavatera). dogwood(cornus), buddleia (which is robust and attractive to butterflies) and the vigorious kerria japonica.

If you have space, set aside an area for children to grow their oen plants. Sweet peas, sunflowers, beans, lettuces and nasturtiums are easy to cultivate and will give pleasure all summer long.

 

For property investment in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

Flood rescue in Northern part of England

People are being evacuated from their homes and there is chaos on the roads and trains after torrential downpours flooded parts of northern England.

Six severe warnings – meaning a danger to life – are in place along the River Don in Doncaster with some residents being told to leave their homes.

Dozens of people slept on chairs and benches after being left stranded in a shopping centre in Sheffield overnight.

People are being ferried to safety in Rotherham

More than 100 flood warnings are in place across England

Fran Lowe, from the Environment Agency (EA), said urged people to take them seriously “as they represent a threat to life”.

“Respond immediately and get out of any place affected by a severe flood warning,” she said.

More than 50 people have been rescued from their static homes after a caravan site near Doncaster flooded.

Elderly and vulnerable people were among those who were led to safety from Willow Bridge Caravan Site after the River Don overtopped in the area.

Meanwhile, residents in Rotherham have been told to stay at home and not leave unless asked to do so by emergency services.

The council said the town centre, Whiston, Catcliffe and Laughton Common were areas of greatest concern.

Source: BBC News