Trade magazine The Grocer reported that the variety discounter has now closed all of its 12 outlets located on retail parks in the Midlands and north of England. The business employed around 500 staff.
The warehouse and online business sold a wide range of products including food & drink, health & beauty, garden, and DIY products. Customers had to sign up to JFT’s free membership scheme to shop in the stores.NamNews Implications:
- Sometimes you have advance warning, sometimes not…
- But bankruptcies happen slowly and then very fast.
- Therefore crucial that NAMs monitor the latest annual reports…
- …for early signs of trouble.
- And complete ‘If a customer goes bust’ exercises, regularly.
- What incremental sales are required to generate the sales owed by the customer from Net Profits?
- i.e. Divide the current amount owed to you by the customer by your net margin, and multiply by 100...
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