woolley Posted January 17 Share Posted January 17 3 hours ago, Hairy Poppins said: My memory may have dulled in the 30+ years since it happened, but they certainly made a song and dance out of moving part or all of their office to Scotland. They acted Billy Big Bollocks and then got chased out of the UK mainland by competition. Apologies. I note that wiki agrees with you, so if that is the case, I bow to your greater knowledge. Interesting. Perhaps it was a condition of the Scottish grant aid? From a business relationship of the time, I know that the Douglas office was heavily involved, and it would make financial reporting sense to structure so that the Manx company was the parent. Unless again there were official strings attached. Lots of shops in Scotland, many in Border TV area (relatively cost-effective ITV advertising), but I think the bank lost their nerve and pulled the plug eventually. I remember the day it all went tits up very well because I was in there at a meeting when the phones were ringing off the hook with Scottish media enquiries about what was happening. Ironic that they sold Scottish outlets to Kwik Save as the Nicholson family were among Kwik Save founders. They got half a century out of it, I guess, and they certainly changed the retail landscape of the Island. Somebody would have done that anyway if it hadn't been them. I wonder if Tesco would have taken an interest in the Isle of Man when they did had Shoprite not ventured into Scotland. 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 17 Share Posted January 17 4 hours ago, A fool and his money..... said: Not a loss as such, but a loss on what they would have been making if they factored in the extra cost. They're much less likely to do that now they've got nine more stores and have got rid of almost all of their competition, wouldn't you think? I don't know. I guess we'll have to wait and see. There wasn't really any competition on price from Shoprite because they were understandably massively more expensive. Just speculating but I can't imagine Tesco have paid much, if anything, to acquire the business beyond the agreement to lease the premises. As I've said before, we've been doing well thus far with the Tesco offering here. It's given us UK pricing including price matching with German discounters on many items. Perhaps Tesco head office were unaware of their scant competition here. They're not now with Shoprite's books on their corporate desk. Maybe we'll start bringing more supplies back on our trips away. 2 Quote Link to comment Share on other sites More sharing options...
IOM Posted January 17 Share Posted January 17 11 minutes ago, woolley said: Apologies. I note that wiki agrees with you, so if that is the case, I bow to your greater knowledge. Interesting. Perhaps it was a condition of the Scottish grant aid? From a business relationship of the time, I know that the Douglas office was heavily involved, and it would make financial reporting sense to structure so that the Manx company was the parent. Unless again there were official strings attached. Lots of shops in Scotland, many in Border TV area (relatively cost-effective ITV advertising), but I think the bank lost their nerve and pulled the plug eventually. I remember the day it all went tits up very well because I was in there at a meeting when the phones were ringing off the hook with Scottish media enquiries about what was happening. Ironic that they sold Scottish outlets to Kwik Save as the Nicholson family were among Kwik Save founders. They got half a century out of it, I guess, and they certainly changed the retail landscape of the Island. Somebody would have done that anyway if it hadn't been them. I wonder if Tesco would have taken an interest in the Isle of Man when they did had Shoprite not ventured into Scotland. Tesco came to the Isle of Man because at that time they bought several parcels of land from the Coop mainly across . As I understand Lake Road came with that acquisition and I think part of the agreement involved building a supermarket there within a given timescale . 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 17 Share Posted January 17 6 minutes ago, IOM said: Tesco came to the Isle of Man because at that time they bought several parcels of land from the Coop mainly across . As I understand Lake Road came with that acquisition and I think part of the agreement involved building a supermarket there within a given timescale . So did the Co-op have prior plans for the Lake Road site? Quote Link to comment Share on other sites More sharing options...
finlo Posted January 17 Share Posted January 17 3 minutes ago, woolley said: So did the Co-op have prior plans for the Lake Road site? Yes and I'm fairly confident Tesco don't own the Lake road site. Quote Link to comment Share on other sites More sharing options...
IOM Posted January 17 Share Posted January 17 3 minutes ago, woolley said: So did the Co-op have prior plans for the Lake Road site? As I understand yes it would have been a large supermarket. However the Coop revised their strategy to be essentially a convenience focused business so the development of larger stores ceased hence the selling off of the land . 1 Quote Link to comment Share on other sites More sharing options...
Manxman1234 Posted January 17 Share Posted January 17 2 hours ago, IOM said: As I understand yes it would have been a large supermarket. However the Coop revised their strategy to be essentially a convenience focused business so the development of larger stores ceased hence the selling off of the land . That’s my understanding of it too. Coop got the planning permission granted. Sold store to Tesco. In an ironic way, it’s probably the decision that will impact coop now than anything and put significant pressure on its profitability locally 1 Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted January 17 Share Posted January 17 (edited) 3 hours ago, finlo said: Yes and I'm fairly confident Tesco don't own the Lake road site. I'm sure I read some time ago (and again I'm happy to be proven wrong) that part of the site was on a longterm lease from Douglas Council. It's mainly the old timber yard site isn't it? I seem to remember the cleared site had signs on it for Co-op at one point. ETA it looks like there was a planning application back in 1996 and the address on it was Tesco.. but do they just get updated automatically to the present day address now they're all filed online? Edited January 17 by Hairy Poppins Quote Link to comment Share on other sites More sharing options...
Amadeus Posted January 18 Share Posted January 18 Victoria Road has clothing and household as well as supermarket so I’d imagine that will draw more people in. Quote Link to comment Share on other sites More sharing options...
CrazyDave Posted January 18 Share Posted January 18 6 minutes ago, Amadeus said: Victoria Road has clothing and household as well as supermarket so I’d imagine that will draw more people in. That’s crap news for lots of local businesses. I hope people boycott them, but am probably in the minority Quote Link to comment Share on other sites More sharing options...
newaccount Posted January 18 Share Posted January 18 30 minutes ago, CrazyDave said: That’s crap news for lots of local businesses. I hope people boycott them, but am probably in the minority Minority Dave 1 Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted January 18 Share Posted January 18 47 minutes ago, Amadeus said: Victoria Road has clothing and household as well as supermarket so I’d imagine that will draw more people in. 40 minutes ago, CrazyDave said: That’s crap news for lots of local businesses. I hope people boycott them, but am probably in the minority Let's be honest, it's no different from when Shoprite had (Peacocks) clothing and homeware (Wilko, Waitrose, then Sainsburys). None of that was 'local'. It was just UK products with ~30% stuck on top of the RRP. What makes it any different now Tesco run it? Maybe other than more people may actually be able to afford to shop there. 2 Quote Link to comment Share on other sites More sharing options...
WTF Posted January 18 Share Posted January 18 46 minutes ago, CrazyDave said: That’s crap news for lots of local businesses. I hope people boycott them, but am probably in the minority see you in there................. 3 Quote Link to comment Share on other sites More sharing options...
finlo Posted January 18 Share Posted January 18 11 minutes ago, Hairy Poppins said: Let's be honest, it's no different from when Shoprite had (Peacocks) clothing and homeware (Wilko, Waitrose, then Sainsburys). None of that was 'local'. It was just UK products with ~30% stuck on top of the RRP. What makes it any different now Tesco run it? Maybe other than more people may actually be able to afford to shop there. Other than the fact that all the money will now leave the island. They need to make sure they've not fiddling their tax dues either. Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted January 18 Share Posted January 18 Just now, finlo said: Other than the fact that all the money will now leave the island. They need to make sure they've not fiddling their tax dues either. Majority of the money left the island anyway to the likes of Iceland, Waitrose, Wilko and Sainsburys. Quote Link to comment Share on other sites More sharing options...
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