Tesco buy all nine Shoprite supermarkets- Monopoly?

[GD4ELI]

8 minutes ago, Gladys said:

Depends on who is making the redundancies, Shoprite or Tesco. 

If Tesco bought Shoprite then it'll be Shoprite, after all they're Shoprite employees.

I'm probably 101% wrong!

[WTF]

22 minutes ago, Fred the shred said:

I think one fear is that Tesco will turn the smaller stores into Express stores which are more expensive , another expectation is that they will have a Tesco on their doorstep will not happen as the smaller stores have not the space to carry all the varied stock you can get at Lake Road, Victoria Road being the exception.   Also being a tight community people know of the 60 families who will be affected by redundancy so no celebration there.   A monopoly situation is never a good prospect.    However the deed has been done and I think the Coop and Marks and Spencer’s will do very well out of it so every cloud etc.

2 things,  1 mentioned before but try to keep up ,  this monopoly bollocks , did shoprite have a monopoly with 9 stores ???  if the boot was on the other foot and shoprite bought the tesco site/store and had 10 stores would everybody be whining about shoprites monopoly ??  no they wouldn't  because  it would not be a monopoly courtesy of M&S , spar, co op's, EVF garages, there may be more. 

 and secondly  you are correct , you can't fit everything from tesco's lake road into the smaller stores in just the same way that the smaller shoprite stores didn't/don't stock everything that was/is available in the bigger stores.

[Gladys]

Just now, GD4ELI said:

If Tesco bought Shoprite then it'll be Shoprite, after all they're Shoprite employees.

I'm probably 101% wrong!

They have bought the stores not the company according to the press release.  

 

[GD4ELI]

8 minutes ago, Gladys said:

They have bought the stores not the company according to the press release.  

 

Are you 100% sure? I Googled and read that Tesco had bought Shoprite.

Edited October 16, 2023 by GD4ELI

[John Wright]

3 minutes ago, GD4ELI said:

Are you 100% sure? I Googled and read that Tesco had bought Shoprite.

They have bought the business, not the operating company nor the stores. They’ve taken leases/sub leases  on the stores owned ( freehold or long leasehold )  by Shoprite/Isle of Man Enterprises and will be taking assignments of leases on those stores which Shoprite leases

[Albert Tatlock]

5 minutes ago, GD4ELI said:

Are you 100% sure? I Googled and read that Tesco had bought Shoprite.

Tesco know they have 80% loyalty here and they're onto a winning formula. 

[CrazyDave]

45 minutes ago, Fred the shred said:

 think one fear is that Tesco will turn the smaller stores into Express stores which are more expensive

That is not a fear.  It is a fact.

[Gladys]

https://www.iomtoday.co.im/news/tesco-buys-all-nine-shoprite-supermarkets-on-the-isle-of-man-643050

I was trying to gently say that the Shoprite head office or back office staff will not be the responsibility of Tesco to those who expect Tesco will assist in their redeployment.  They may well do, but not sure there is a) any obligation or b) any scope within their current management structure,  which will mostly be in the UK. 

[GD4ELI]

4 minutes ago, Gladys said:

https://www.iomtoday.co.im/news/tesco-buys-all-nine-shoprite-supermarkets-on-the-isle-of-man-643050

I was trying to gently say that the Shoprite head office or back office staff will not be the responsibility of Tesco to those who expect Tesco will assist in their redeployment.  They may well do, but not sure there is a) any obligation or b) any scope within their current management structure,  which will mostly be in the UK. 

So will be on poor redundancy terms?

 

[Gladys]

2 minutes ago, GD4ELI said:

So will be on poor redundancy terms?

 

Who knows?  They will have the statutory minimum  of 1 week for each year employed up to 12 (IIRC) plus any contractual entitlement.  To that end, a sale is better for those staff than a collapse.  Not that I am saying they were on the verge of collapse, just that at least they can expect a full pay out of their entitlement. 

[GD4ELI]

17 minutes ago, Gladys said:

Who knows?  They will have the statutory minimum  of 1 week for each year employed up to 12 (IIRC) plus any contractual entitlement.  To that end, a sale is better for those staff than a collapse.  Not that I am saying they were on the verge of collapse, just that at least they can expect a full pay out of their entitlement. 

I doubt we'll ever know why Shoprite were looking for a buyer, maybe the major shareholders just wanted to call it a day.

If Tesco stores on the rock are like those I see in Cornwall then it'll be a plus for the consumer. Whenever I was over on the rock I'd drive my mother to Tesco, not something she was happy doing alone. In Ramsey she just used Shoprite. 

Hey-ho, etc.

[Gladys]

1 minute ago, GD4ELI said:

I doubt we'll ever know why Shoprite were looking for a buyer, maybe the major shareholders just wanted to call it a day.

If Tesco stores on the rock are like those I see in Cornwall then it'll be a plus for the consumer. Whenever I was over on the rock I'd drive my mother to Tesco, not something she was happy doing alone. In Ramsey she just used Shoprite. 

Hey-ho, etc.

May be, and TBH, I am not comfortable analysing the situation for the staff; bad enough to be faced with the situation without having it dissected on social media. So, have stuck to the facts as known.

As for whether it is good for the island, I think it is.  Tesco have a far bigger buying power than Shoprite, who have never managed to match despite cosying up to some big brands.  

Perhaps this achieves what Shoprite could not? 

[John Wright]

13 minutes ago, GD4ELI said:

I doubt we'll ever know why Shoprite were looking for a buyer, maybe the major shareholders just wanted to call it a day.

If Tesco stores on the rock are like those I see in Cornwall then it'll be a plus for the consumer. Whenever I was over on the rock I'd drive my mother to Tesco, not something she was happy doing alone. In Ramsey she just used Shoprite. 

Hey-ho, etc.

It’s been being hawked around, with crazy price tags, since before the Tesco Castletown and Chester Street licensing applications.

[Omobono]

47 minutes ago, GD4ELI said:

So will be on poor redundancy terms?

 

Same applies to Robinsons staff who work in Shoprite as well as their delivery and whare house staff , if Tesco are going to import their own fruit and veg  then Robinsons miss out in a very big way with the loss of 95% of their  present retail outlets, 

Robinsons are still the biggest wholesale suppliers of veg and some dry goods to the  hotels , catering industry ,schools , hospital etc  should anything happen to this supply chain  it could bring difficulties to lots of other areas 

they are also the biggest wholesale buyers of local produce   , so the possible  knock on effect  in Island terms   certainly should not be underplayed by government 

[Banker]

29 minutes ago, GD4ELI said:

I doubt we'll ever know why Shoprite were looking for a buyer, maybe the major shareholders just wanted to call it a day.

If Tesco stores on the rock are like those I see in Cornwall then it'll be a plus for the consumer. Whenever I was over on the rock I'd drive my mother to Tesco, not something she was happy doing alone. In Ramsey she just used Shoprite. 

Hey-ho, etc.

The Nicholson brothers are in their mid to late 70s so probably retiring plus they will have the rental income from stores and various other sites they own