Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/975/26609

From The Socialist newspaper, 13 December 2017

Retail sector crunch: nationalise to save jobs

Shop worker, cuts

Shop worker, cuts   (Click to enlarge)

Iain Dalton, vice-chair, Usdaw Leeds private trade branch (personal capacity)

Toys R Us plans to close a third of its stores. Asda wants to downgrade hundreds of shopfloor supervisors. Britain's largest tobacco distributor Palmer & Harvey has gone into administration.

These recent announcements will ring alarm bells for retail workers worried for their futures amid signs that consumer spending in general is slowing down.

The closure of at least 26 Toys R Us outlets threatens 800 jobs. Asda's pay cut would affect 842 'section leaders'. And the administrators have already made 2,500 Palmer & Harvey staff redundant, with a further 900 threatened.

The Toys R Us closures are partly due to large store sizes becoming less competitive after the rise of online shopping. But both Toys R Us and Palmer & Harvey have had problems with suppliers.

The tobacco distributor struggled to receive payments in time to pay down debt obligations. And some of the toy shop's suppliers were unable to get 'credit insurance' for providing goods on account.

Consumer spending fell 2% this October compared to last, according to Visa. That's the fifth monthly drop in the last six months, and included a 5% drop in high street spending. This reduced income will affect most those companies which are heavily indebted.

Like the run-up to last year's collapse of department store BHS, a management buyout of Palmer & Harvey left a wake of suspicious dealings. The 2008 takeover was leveraged with debt which reached a net amount of 48.6 million in April 2016.

Yet since the buyout, the Guardian estimates there has been around 70 million in shareholder payouts. Former chairman Christoper Etherington and his wife will have received about 2.5 million in dividends since 2009 alone.

Usdaw

The BHS collapse meant the loss of a high street icon, and the jobs of many members of retail and distribution union Usdaw. So the 2017 Usdaw conference passed a resolution to call on the government to bring companies in a similar situation into public ownership.

The union has made two statements on Palmer & Harvey on its website so far. But nowhere in either does it call for nationalisation. Instead the administrator, financial services giant PwC, has been allowed to sack 2,500 workers unanswered.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 13 December 2017:


What we think

Brexit deal no solution to Tory rifts

Labour 'purge' furore really just democracy


International socialist news and analysis

A world in crisis, ripe for revolution

Trump's incendiary Jerusalem statement reignites Israeli-Palestinian conflict

110 years ago: massacre at Santa Maria school in Chile - commemorate 21 December 1907


Socialist Party news and analysis

Save our NHS

Two in five 'right to buy' homes now for let

Retail sector crunch: nationalise to save jobs

Uni market 'failure', two-year degrees - end cuts, scrap fees!

Them & Us


Socialist Party workplace news

Local government pay: fight for the 5% claim, fully funded

Strikers rally in Liverpool

Unite day of action against blacklisting

Brighton victory

Anti-DOO lobby of Liverpool's transport committee

Teachers strike in Sheffield

Newham anti-academies strikes


Socialist Party reports and campaigns

Tory plan to hold dinner at coal mining museum defeated

Totnes MP uses coffin controversy to distract from brutal NHS cuts

South London health bosses' cover-up

Movement growing against fracking giant Ineos

Six months on - still no justice for Grenfell

Bradford campaign to save children's services launched

Tamil Solidarity and Refugee Rights activists meeting


Christmas Quiz

The Socialist's 2017 quiz


 

Home   |   The Socialist 13 December 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Retail:

triangleShop workers hungry for 10 an hour now and an end to zero-hour contracts

triangleEast London Socialist Party: The high street crisis - a socialist programme for retail

triangleCardiff West Socialist Party: A day in the life of a retail worker

triangle600 more retail jobs on the line: workers must not pay for the bosses' high street crunch!

triangleTyneside shopfitting plant lays off 61 workers

Nationalise:

trianglePrivate firms and toothless regulator to blame for trains chaos - nationalise rail now!

triangleBig drugs companies dodge 3 billion pounds in tax

triangleNationalise the energy giants to combat global warming

triangleNationalise rail! Tories out!

Jobs:

triangleLambeth Socialist Party: Build a movement against racism

triangleWalthamstow Socialist Party: Build a movement against racism

triangleBattle growing against Loch Lomond area big business sell-off

Usdaw:

triangleNSSN rally: militant trade unionists share ideas to win for workers

triangleNSSN conference 2018: Mood for fighting action and coordination

US:

triangleTory and Trump hypocrisy over murder of Saudi Arabian journalist

Workers:

triangleThe Socialist Inbox

Pay:

triangleStriking Brum home carers reject 'final' pay cut offer

Union:

trianglePCS union: nominate Chris Baugh as Left Unity candidate for assistant general secretary

Debt:

triangleUniversal credit = universal misery

Nationalisation:

triangleBirmingham South East Socialist Party: What is socialist nationalisation?

Public ownership:

triangleThe case for socialist nationalisation

Closures:

triangleMerseyside fire authority forced to postpone night closures

Britain:

triangleThe renewed relevance of Engels' classic Socialism: Utopian and Scientific

Government:

triangleLibres y Combativas: striking for women's rights in the Spanish state

News and socialist analysis

News and socialist analysis

17/10/18

Brexit

Tories' Brexit bust-up - general election now

17/10/18

Universal Credit

Universal credit = universal misery

17/10/18

Engels

The renewed relevance of Engels' classic Socialism: Utopian and Scientific

17/10/18

Mental health

Fully fund mental health services now

17/10/18

Saudi Arabia

Tory and Trump hypocrisy over murder of Saudi Arabian journalist

17/10/18

Pay

No to fat-cat top judges' 59k pay hike - fight for decent pay for criminal justice workers

17/10/18

Fracking

Toxic fracking gets the go-ahead while protesters jailed

17/10/18

Cardiff

Homeless driven from Windsor streets for royal wedding: abolish the monarchy and end homelessness now!

15/10/18

Socialism

Socialism - the podcast of the Socialist Party

10/10/18

Racism

Fight racism: fight for jobs, homes and services for all

10/10/18

Them & Us

Them & Us

10/10/18

Tories

Tories' crisis conference - Corbyn must fight for general election

10/10/18

Amazon

Workers' action wins Amazon pay rise

10/10/18

Capitalism

Workers in UK do 1.2trn of unpaid housework and care

10/10/18

Super-rich

Super-rich flee to Monaco to evade Corbyn

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999