Damaged Goods

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As Private Eye put it, serialised exclusively across all newspapers, this book says that Philip Green is not a nice person.  “Quelle surprise” as they may say in Croydon.  But on the other hand, Oliver Shah is the Sunday Times journalist who broke the BhS story and who Philip Green threatened to kill. His book has been eagerly awaited.

Partly sly gossip, frequently sweary and profane, often with threats of violence, Damaged Goods is a detailed account of the rise and fall (repeat a few times) of Philip Green (PG or SPG depending on your view) and his business ‘colleagues’ and behaviours.  Lots of sources  on the record (and more than a few anonymous sources who are not), the author’s relationship (or at least a channel) of sorts to PG, and some detailed research allows Oliver Shah to paint a picture of Philip Green and his business dealings.

This portrait is pretty ugly; though Shah at times seems to enjoy the chase and point and counter point with PG.

It would be all too easy to focus on the character of the central “villain”, and there are plenty of other reviews out there (e.g. Guardian, Financial Times, CityAM), that dwell on some of the more unsavoury aspects of the affair and the more sensational episodes, but that wasn’t the message I took from the book.  For me the book further exposes a whole series of corruptions at the heart of British business.

These include the:

  • Sheer nastiness of many of the protagonists
  • Cosiness between some journalists, analysts and business people, with the sense it is all a “game”
  • Financial rotating merry-go-round and its lack of grounding in the real world, and the constant search for the next short-term deal and the best way to screw the “other side”
  • Asset-stripping and pursuit of personal wealth at everyone else’s expenses (especially those working in stores and retail generally)
  • Lifestyle obscenities of the rich and famous and the ‘hangers-on’ (and some of those in this book might surprise you, and hopefully they are now embarrassed – though I doubt it)
  • Shady characters on the side-lines funding (often without declaring their interests, –  and regulators should be taking a hard look at this) and cheering on.

Overwhelmingly the sense I got was of a system out of control, predicated on property values and personal greed, with a total disregard for ordinary people who work in the stores and shops, and the consumers they serve.  They simply didn’t matter and were playthings of the rich and more powerful (or as I have put it previously – the (monetary) rich and (in)famous).

In that previous 2016 blog I wrote:

“The ways in which BhS was the plaything of the rich, as laid out by the fall out from administration and liquidation is genuinely astonishing. Treated as a private cash cow by the owners and in my view, some of the advisors, auditors, consultants and other hangers on, the grubby story shows the employees, pensioners, some managers and now the public purse being taken as mugs. Staff have been shafted by the greedy, rapacious behaviours of a number of people and firms.”

Oliver Shah’s book places the BhS story in the longer run context and adds a wealth of detail. The bottom line  conclusion should be the same though: the system and individuals are out of control and are getting away with “murder” (not literally despite the death threats). Regulators need to step in, toughen up and force transparency.

But in reading beyond the detail  a different sense came into focus for me. The parallels with Brexit and Trump seem all too real.  The people involved and their characteristics and faux concerns, the pursuit of personal gain at an obscene level, the outright lies and denials and the incitement to polarise, denigrate and demean are common threads. This set of broader behaviours have been normalised and in that sense PG is no different to Johnson, Farage, Rees-Mogg and Gove. Read in that light the behaviours are all too familiar and all too damaging.

After a detailed expose of the BhS pension scandal and the unravelling of PG and Bhs, Oliver Shah ends with a cautionary chapter which focuses on Top Shop and Arcadia. He points out the collapse in sales and profits, the desperation to sell (denied) and the pensions black hole (possibly twice that of BhS).  He sees BhS as the “starter” and Top Shop and Arcadia as the main course, with the scale of the latter dwarfing what has gone before. In short this story (and PG’s responsibilities) has some way still to run.  It is a catastrophe in the making for thousands (and in passing the BBC at least focused on the workers of Poundworld in a recent retail collapse story, which stood out as it made such a change).

The book also went to press prior to the news that Steve Denison, the PWC partner had been banned from practice for 15 years, fined £500k and PWC fined £10m for their shoddy work on BHS. Apparently a cursory two hours in what passes for audit and due diligence in these rarified circles. Cozy or what?

Damaged Goods is worth a read, but it is truly appalling – not as a book but for the system and behaviours it documents.  The whole thing stinks, but I’m not holding my breath for things changing any time soon, as it is whole approach that needs to change.  Till the next scandal …..

Reference

Shah O (2018) Damaged Goods: The inside story of Sir Philip Green, the Collapse of BHS and the Death of the High Street.  Portfolio Penguin.

PS: I have no idea who thought it was right to add the sub-clause to the title (the death of the high street)- the book is not about that in any real sense and it smacks of bandwagon jumping, which is not required given the subject matter at its heart.

Posted in BHS, Employees, Finance, Government, Leadership, Legislation, Pensions, Philip Green, Politicians, Regulation, Retail Failure, Retail leadership, Shareholders, Uncategorized | Tagged , , , , , , , , , | Leave a comment

A New User’s Reflections on Online Grocery Shopping

I am old enough to remember the initial Tesco home shopping trials in Gateshead in the early 1980s (Gateshead Shopping and Information System) when home shopping via Videotex (look it up if you don’t know) was seen as being a future help for those unable to get to the shops (a nice short summary from one of  (Michael Aldrich) involved can be found here). Fast forward 35 or so years, via the invention of the internet and the smartphone and all the rest of the supply infrastructure, and no-one bats an eyelid at home or online shopping.  That initial experiment and thought has come a long way.

Like so many, I’ve been seduced by the lure of Amazon and the convenience it creates, but am trying to wean myself off it.  We’ve used online sites for a variety of clothing and other purchases, but not perhaps to the extent that so many do. I just like (some) physical retailing.  And up till now we’ve never used a regular grocery home shop, despite seeing delivery vans all over the place, including the street on which we live.

But, my recent mishap on Orkney has rendered me house-bound and immobile and thus unable to do bulk grocery shopping.  Local shops, the nearby Lidl and Stirling Farmers’ Market have provided some of what we need, but we have succumbed to online grocery over the last few weeks, signing up to Tesco and having now used it three times.  So what is our experience and the good and bad elements?

tesco groceries

Signing-up looked easy, until the system said I was already signed up.  How?  Then it refused to recognise my Clubcard and so had no record of my history.  Phone calls ensued and it all worked out, but not the easiest or smoothest start.

The system itself was easy to use and it does learn what you buy, but that I found rather problematic as it routinises everything and choice edits.  You don’t get the feel of range without quite some effort. The ordering does work well though and slot booking and order amendment work fine. It is straightforward in those respects.

What we did notice however was that a lot of products were ‘currently unavailable’, which confused us somewhat. You look the next day and they are often available.  I assume this is a store based issue but it was disappointing that so much was not there.  Delivery performance was good though with deliveries at the start of each booked slot and almost no substitutions (which does say something about on shelf availability).  It is slick and easy, but rather ‘soul-less’; we still prefer looking, touching and selecting products. I can though see how I’d use it for repeat/regular bulk items and then “top-up” locally with the “good and interesting” stuff. Though I doubt I’ll become a permanent convert.

A final observation: at a time when price promotions of ‘unhealthy’ food are under debate, it was noticeable how many banner ads were pushing such products.  These are not our normal purchases, so this stood out.  It does make the case, as we have argued in our FSS report of last year, that any restrictions on promotions have to apply in virtual as well as physical space. As an aside, but in a similar vein, watching S4C on satellite the other day I saw a Lidl World Cup advert for alcohol, using Welsh but not Scottish post-MUP prices, Obviously, of course;  why would they not reflect the different systems. But it does point to the porosity of modern media and the flow of information across boundaries, whether physical or virtual. Retailers and consumers will have more to think about and deal with.

No doubt for many, there is nothing new in this blog, but for us I has been an interesting experiment.  As befits a Professor of Retail Studies though I can’t wait to be mobile enough to visit some ‘real’ shops again.

Posted in Availability, Consumer Change, Food Retailing, Gateshead SIS, History, Internet shopping, Local Authorities, Online Retailing, Retail Change, Service Quality, Supply Chains, Television, Tesco | Tagged , , , , , , , , | Leave a comment

Orkney – the Second Leg

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Our recent visit to Orkney was not meant to be about retailing or shops, but inevitably just wandering around Stromness and Kirkwall one can’t help but look at the retailing.  As I noted in the earlier blog, the overwhelming sense I got was of a busy sector with limited vacancies and a dominance of independent businesses.  There are some of the usual chains but it was notable how many stores were local and independent.  I appreciate this is a snapshot of early summer/late spring, but it was encouraging.

What was also interesting was the historical aspect to both towns.  Both Stromness and Kirkwall have distinctive urban plans and hold the interest accordingly.  They are full of vennels, gunnels and other cut-throughs and the main street is both pedestrianised and with car access  (though speed limited due to its nature which enables dual use).  It is an interesting mix which the council has worked hard to protect, preserve and promote.  I was interested that just after we left Orkney, the council won a major award (the RTPI Silver Jubilee Cup) for their work on the townscape of Stromness.  It did not surprise me.

One of the delights was looking for ghostsigns in the current fabric and there were plenty to choose from.  In many cases, as shown below, these were interesting but perhaps run of the mill.   Nice tiles and old name boards etc. but nothing that is too out of the ordinary.

However one store really caught the eye.  The initial impact comes from the tiled doorway entrance and the fascia mosaics, which have been partially, and unsuccessfully obscured.  This is Fugaccia’s and a quick inspection beyond the door points to the floor and steps also being original and in place.  The store is currently a clothing and knitwear store, but clearly has had a different history.

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The staff member inside readily acceded to me asking to take photographs and indeed said that lots of people seemed to want to photograph the floor!  On the wall inside the shop was the announcement of what Fugaccia’s was originally – The Stromness Soda Fountain, claimed to be ‘one of the finest soda fountains open in Scotland’.  A little more can be gleaned here.   Whilst not in its original usage, it is good to see that the design and quality of the original store is retained.  It is simply gorgeous; just a shame about the “vandalism” of the mosaic fascias.

And I leave with another store front, this time the Post Office in Kirkwall from 1960.  The doorway and lintel just speaks of heritage and confidence and is in stark contrast to modern day post offices and shops.  Where did we lose the desire to design nice things?

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Posted in Architecture, Art Deco, Environmental Quality, Ghost Signs, High Streets, Historic Shops, History, Orkney, Places, Planning, Post Offices, Regeneration, Retail History, Scotland's Town and High Streets, Shopfronts, Signage, Small Towns, Streets, Streetscapes, Stromness, Towns | Tagged , , , , , , , , , , , | Leave a comment

Tiles and Sardines

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For those who catch up with me on Twitter, a few weeks ago we had a long weekend in Lisbon – no, not for Eurovision – and I said I would do a post on retail things of interest we stumbled across.  As previous posts on Lisbon (Time Out in Lisbon Part One and Part Two) have shown, I am a fan.

There are faded edges to the city, and it is struggling under the volume of tourists, but it remains a very distinct place.  The old shops of Lisbon were a feature of my previous blog, and I am not repeating that here.  Instead my shop focus is on the ghostsigns or other tiled signs of shops.  Wherever you look shops in Lisbon exhibit fabulous reminders of the past.

The tiles (or Azulejo) are a fabulous feature of the city and can be seen almost everywhere.  They can be a little over the top, but the patterning and design work is amazing. The history of tiles in Portugal can be seen in the excellent National Museum of Tiles and it is well worth the visit.  Amongst its many displays is the pre 1755 earthquake tiled map of Lisbon.  Close examination of this produces the fabulous old market scenes shown below.  This market is the precursor to the now refurbished Time Out version covered in my previous blog.

Whilst on our travels we also came across an exhibition of M.C. Escher – someone I have been fascinated by for years.  The regular tile patterns of Lisbon are in many ways highly similar to some of Escher’s work, though the art of the impossible he developed goes well beyond regularity.  The exhibition ended with a section on modern use of Escher’s ideas and on the use of impossibility.  Typically there were some retail examples including the IKEA posters from a few years ago, shown below.

 

So what about the sardines?

Anywhere you go in Lisbon, fish is a feature, and the sardine within that.  My childhood memories of tins of sardines in paper wrapped cans were brought home by the array on offer in specialist shops.  Some of these shops seemed very touristy, and one on the theme of a Vegas casino, decidedly vulgar.

But, I was taken by another, which appears to be run by a producers association.  This had added a layer of history and explanation in quite a simple format.  A pick ‘n’ mix approach encouraged engagement and purchase as shown below and sales seemed to be brisk.

As interestingly, next door was a simple sardine tapas bar using the products and again operated by the producers – very good it was too.

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Sardines in tins may not be to everyone’s tastes, but the idea of producers taking their product seriously, promoting great design and heritage and selling the product in various ways in shops and restaurants strikes me as a very good one.  Where is our Scottish equivalent?  Baxters on the A9 (also elsewhere) north of Stirling proved short lived.  Beyond that I am struggling, and whisky shops do not count in this.  The Portuguese example was beyond the point of production, and owned and operated by the producers.  We do really miss a trick in this, though a recent visit to Orkney saw us frequent the Orkney Fishermans Society fish shop and it showed what could be done, though perhaps not with the same Lisbon panache!

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Posted in 3D Printing, Architecture, Azulejo, Cooperatives, Fish, Food Retailing, Historic Shops, History, Lisbon, Markets, Producers, Retail History, Sardines, Shopfronts, Streetscapes, Urban History | Tagged , , , , , , , , , , , | Leave a comment

HoF: House of Fools?

Jenners

Thursday’s much trailed announcement that House of Fraser was aiming to close 31 of its 59 stores in the UK and was seeking large rent reductions on those that remain, all as part of a seemingly contested CVA, was the lead story across the country (and on most of the front pages of the national newspapers the following day), particularly in places where towns or cities were affected.  The coverage focused on a number of dimensions, often around the history of the stores and locations involved and, quite rightly, the several thousand workers likely to be affected.

Quite expectedly, attention turned to the ‘death of the high street’ and the impact HoF closures will have.  They will have an impact, no doubt, but we also need to reflect on the broader picture.

Department stores have been in difficulty for some time; both in themselves and as part of the travails of mass and middle market retailing.  C&A and BHS as well as Woolworths and the woes of Debenhams and M&S point to a broader problem.  The decline of the Department Store is not new – I think Stirling had 13 between the wars and only one now – and is symptomatic of changing behaviours and product and place availability. Department stores can succeed, by only by adapting to modern demands. House of Fraser has not done this.

The question for HoF is what makes them out as distinctive or different – and the answer in many cases is not much.  Many of the products can be found elsewhere – online and in other physical brand stores – and there’s little enough ‘wow’ factor from other elements or products to pull in the volume of consumers needed.  Add to that a relative lack of investment over a period of decades in many of the HoF stores, and for many consumers they are something of an anachronism. There has been a lack of transformation and investment in many of the stores, something competitors, such as John Lewis have been much better at (physically, online and multichannel).

That is not to say that HoF have not had ill-winds to face externally.  The rent and rates of operating large units in town and city centres is a problem for all retailers in that situation. The calls from politicians and others on Thursday for ‘bright ideas’ about “the death of the high street” and business rates seem to be ignoring the active increase and burden on such businesses placed by government and a total failure to view the need for a more level ‘playing field’ between physical and online retailing (and if we value towns and cities, in town and out of town).  Hand-wringing by governments and politicians over the health of the high street and closures such as HoF are cynical denials of the fact that their inactivity has helped create the situation. We have written more on this in our Town and Country Planning Column last year.

It is a sense of bias or lack of balance that is also behind the increasingly contested view of CVAs.  They are now, in some quarters, being viewed as a play to reduce the rent bill from landlords rather than a vehicle to obtain a going business.  The fairness of this claim is hard to assess, and I doubt any CVA is entered into lightly, but there is no doubt that the balance of costs is being more carefully looked at. In the case of House of Fraser, given HoF sold a large number of the stores slated for closure to landlords in sale and leaseback deals a while back (and presumably made some comments about the income flow accordingly), the property owners are crying foul the property owners are crying foul. It will be interesting to see what happens here.

It is also worth pausing and asking what this plan says about House of Fraser in the future and whether indeed the CVA will work (if accepted). The axe to the chain is dramatic and does say that HoF can not really make a business work in many of the major cities of the UK (a point well made by Richard Hyman on twitter and his blog). It is all very well focusing on costs and cutting (and it is needed), but we have to go back to investment point above. Where is the plan for HoF to expand sales and income and attract customers. Will this 28 or so strong chain be good enough for the future competition. At this point there seems to be little evidence that this has been given enough thought. Without it, we will not have heard the last of the decline or demise of HoF.

Finally, one also can’t but help reflect on history when looking at some of the stores to be closed e.g. Cardiff, Edinburgh or Wolverhampton, amongst others.  These are status buildings with a storied past that are integral to the streetscape and sense of place.  One hopes that their merit will be recognised and sympathetic uses found; there must be opportunities to be creative and protective here.  We can’t afford a spree of cookie-cutter clones replacing iconic units.  More unlikely or romantically perhaps, maybe there is an opportunity to remove the dead hand of centralism (HoF) and get back some of these great independent stores and names e.g. Howells, Binns, Beatties, David Evans and so on.  After all it is Jenners (180 years old  Jenners) that is the surviving store in Edinburgh. Perhaps this is more likely in some of the smaller towns affected by the closures.

 

Posted in BHS, Buildings, Cardiff, Consumer Change, Costs, CVA, Department Stores, Edinburgh, High Streets, Historic Shops, Internet shopping, Jenners, John Lewis Partnership, Online Retailing, Oxford Street, Places, Retail Change, Retail Failure, Town & Country PLanning, Town Centres, Urban History | Tagged , , , , , , , , , | Leave a comment

Orc-(k)nee

There has been a lot of doom and gloom around in the last few weeks about the state of retail and high streets across the country.  There is clearly a new changed set of circumstances around consumer behaviours and the profitability of physical retail spaces.  But, as we have argued previously, a lot of this is overstated and the data sources often claim about things they never measure.

In the last couple of weeks we have had surveys about multiple retailers being reported as reflecting all retailing, spending on (some) cards being seen as representative of all spending, eight large places in Scotland masquerading as the entire country and so on.  Yes, there are issues and changing patterns, but let’s be a little more careful in our considerations.

This was brought home to me a couple of weeks ago during a holiday on Orkney.  There are only two places on Orkney that could qualify as towns – Kirkwall and Stromness (see usp.scot).  I’d never visited the islands before and did not know what to expect.  Wandering around a place – and in a week of unbroken sunshine – is not a good indicator of the issues or the state of the town, but I was taken with both.

The lack of retail vacancies surprised me – I could see only one in Kirkwall and that was a recent move.  Independents predominated and the economy seemed highly cash based.  The Tesco van was ubiquitous however and Tesco faces off on the same road against Lidl and the Cooperative in Kirkwall as well as local stores.  The Dealz (shown below) is soon to be a Poundland (according to the Orcadian) and prices dropped as the ‘island markup’ is removed.  Both towns felt busy and well used.

Dealz

Orkney is of course well known for its tourist attractions and at the Bishop’s and Earl’s Palace an Historic Environment Scotland staff member put me right on a few things.  On learning I was from Stirling she asked why I was not a HS member given Stirling Castle was on my doorstep.  As a Stirling resident I get in free to Stirling Castle and so I indicated that there was no need for membership given I get free entry into the best HS attraction in Scotland!

That led to a friendly debate about the historic merits of Orkney (which in her eyes I had clearly insulted) and Stirling (with Bannockburn and the Wallace added to the Castle).  Her killer blow though was when she asked me to compare Kirkwall’s approach to tourists to that of Stirling.  Scale helps, but she pointed to the well organised, clear, coordinated action to make visitors (and especially the cruise ships) very welcome at Kirkwall (and beyond).  When we were there three ships came in, one with c4500 passengers.  All businesses know when, where from and who is on the ships and have a note sheet of weather and events for the week.  Tourist buses and organisations flow between the (excellent) historic and outlying sites and the town facilities.  Yes it is easier with cruise traffic, but the approach puts Stirling to shame.

I am making two points in this post.  First, I doubt that Kirkwall or Stromness has appeared on the surveys reported earlier; yet they are every bit as reflective of Scottish towns and the reality on the ground as are Stirling, Aberdeen etc.  Secondly, these towns have come together to make the most of what they have and build action from the bottom up.  Whilst I am certain both have issues I can only imagine, Stromness and Kirkwall appeared (yes on a glorious early busy summer week) to be thriving, independent oriented towns.  It is not all doom and gloom out there and we need to remind ourselves what can be done at a local level.

Just down the road from our cottage was a food truck – obviously with a splendid name (see photo).  It came highly recommended and indeed provided delicious and good value food (steak sandwich a firm favourite).  I tried my luck at a discount because of my name, but got a firm ‘no’.  But then a free Tunnochs teacake appeared with my coffee.  Lovely stuff.

Leigh's Van

The title of this post was a variant on a suggestion from a kind colleague of mine when she saw the photo below after my accident on my final day on Orkney (there is more on twitter if you are that sad).  You really can’t get respect from colleagues these days! Don’t let my misfortune put you off visiting a glorious part of Scotland.

Yma o Hyd

Posted in Community, Cooperative Group, Creative Places, Environmental Quality, Food Tourism, Heritage, High Streets, Independents, Lidl, Orkney, Personal, Places, Pound Shops, Poundland, Public Realm, Retail History, Scotland's Islands, Seafood, Small Shops, Small Towns, Stirling, Tourism, Town Centres, Towns, Understanding Scottish Places, Urban History | Tagged , , , , | 3 Comments

“We’re in the Money”

A couple of weeks have gone by since the notion of a merger of Asda and Sainsbury began to be debated in the media.  During that time I wondered whether to add to the coverage via this blog or to let it lie, and let my comments on radio and TV in Scotland speak for themselves.  But in the end the Mike Coupe audition for ‘best tactless singing’ in the run up to Eurovision won the day.  What was he thinking?  And even more so, what are his customers and his suppliers now thinking?  Crass doesn’t begin to cover it.

So what can we say about the proposal?  It seems to be Wal-Mart throwing in the towel in the UK, so if it does not go ahead it is hard to see where this will leave them.  This is not, in my view, likely to be concluded soon, and with Asda head office likely to be more affected, there may be some strategic personnel jumping ship/cherry picking in the meantime.  For Wal-Mart this is a rather risky throw of the dice, but as I argued in 2011 they had been rather forced into Settling for Second Best (download my paper Settling for Second Best).

Most of that risk is embodied in the experts used by the Competition and Markets Authority.  Surely they have to look at this with a rather critical eye and take their time to do a thorough job.  After all if they can look at single or small numbers of overlap stores in other takeovers, then surely this raises real competition issues.  But then I had convinced myself that Tesco and Booker would be a drawn out investigation and could ultimately lead to sell-offs or refusal.  How wrong was I?  Perhaps the rise of the discounters and the threat of new entrants and the internet, as well as the change to the two markets approach, renders the CMA mute?  (or is that moot?)

Assuming that the CMA regains its voice and orders store sell offs or closures, then this is where it gets interesting.  Are there buyers out there, and does it matter if there are not?  Some stores would be attractive to existing players in some locations, though might not help Sasda or Asbury or whatever we call it.  Some may not be attractive (or allowed).  But could a new entrant e.g. Amazon make a move and how might that be realised and responded to?  Maybe shutting down is a more attractive idea (if allowed?).  Whatever, I can’t see any circumstances where the Mike Coupe ‘no store closures’ can be true.  There will be job losses.

These losses will also be felt by the two company’s staff and by suppliers.  If the 10% reduction in prices is to be met, then there will need to be savings in overheads, buying and distribution at least.  This will mean facilities will close and staff will be lost in stores, distribution centres and head offices.  Suppliers will be expected to pony up their contributions as well, which will be easier for some (the larger) than others (smaller ones).

And finally, what of the competitive effects?  Tesco will be back as #2 in the market if this is allowed and the UK will be a duopoly.  Do we really want this to happen?  There will also be quite an effect in some non-food markets and segments and here power may also be seen and executed.  Will this be good for the consumer?  I suspect Asda and Sainsbury customers will be worried about their own brand dilution.  Price cuts always play well, but not if the costs are a limited choice and confusion.  But then, from Mike Coupe’s choice of song, does the consumer really matter and which executives will be around to see it through?

In case anyone wonders how Asda got to this point, I link below (for downloading) a range of papers from a while back that I  produced on the company since the Wal-Mart entry:

Walmart’s World– book chapter (2006) on Wal Mart and Internationalisation

Asda Walmart in the UK – book chapter (2006) on Wal-mart’s takeover of Asda and the implications

When tony met bobby – paper (2007) on the very odd meetings between the Government and Wal-Mart prior to the takeover

Settling for Second best – paper (2011) reflecting on the lack of progress of Asda ten years after thew takeover

 

 

Posted in Asda, Booker, CMA, Competition and Markets Authority, Consumers, Food Retailing, Government, Mergers, Policy, Retail Change, Retailers, Retailing, Sainsbury, Store Closures, Suppliers, Tesco, Wal-Mart | Tagged , , , , , , , , , , , | 4 Comments