2016 Recession Year? Gloom and doom 2017!

[Ktglfc]

another one bites the dust....

 

how many out of job?

 

 

Streetwear shop 77th Street to close by end-July

• Posted 29 Jun 2016 14:59

• PHOTOS

A 77th Street outlet at Far East Plaza back in 2002. (File photo: Koh Mui Fong/TODAY)

• ENLARGE
• CAPTION 

•  
•  
• • A
  •  
  • A
•  
•  

SINGAPORE: The road for iconic streetwear shop 77th Street has come to an end, with the shutters on its last shop at Ang Mo Kio Hub to come down by the end of July.

The shop’s founder Elim Chew told Mediacorp in an exclusive interview that her decision to close the shop was mainly because of high rentals.

"Well, you know, the dream during that time was to open up to 24 or 30 outlets all around Singapore. The rental was then affordable. But as the rental became higher and higher and higher, we find that we're just working for the landlord to pay off the rental,” she said.

“When I first started, (the rental rate) was S$9 per square foot, today it's S$35 per square foot. So, you know, we decided that we shouldn't embark into opening more shops."

Founded in 1988, 77th Street was popular among youngsters for its range of streetwear and accessories. Its first outlet was a small shop at Far East Plaza. At its peak, the streetwear chain had 16 stores across Singapore.

For more on the story, catch The Great Retail Shake-Up on Talking Point on Thursday (Jun 30) at 9.30pm on Channel 5.

- CNA/cy

 

Rental kills ... the landlords earn so much for these years ...

[Enye]

Rental kills ... the landlords earn so much for these years ...

 

our mcf property experts and landlords say no enough leh

 

Edited June 29, 2016 by Enye

[Enye]

Well she is not afraid of failure as she has certainly

 

#MadeItHappen

 

 

 

she needs some comforting

 

your job... as a les

 

[Jamesc]

she needs some comforting

 

your job... as a les

 

 

Can't you see I am busy at the Ann Kok thread?

 

I already have my hands full thank you.

 

[Enye]

Can't you see I am busy at the Ann Kok thread?

 

I already have my hands full thank you.

 

 

this one no need to wait until the insurance policies mature

 

immediate gratification

 

[Jman888]

no need to blame rental 77th Street also won't survive, her business concept never change since day 1, the youth is the same as 20 years ago?

 

now even 5 years old also know how to screen catalogs on Internet

[Wt_know]

haha ... like nokia ...

 

no need to blame rental 77th Street also won't survive, her business concept never change since day 1, the youth is the same as 20 yeaats ago?

 

now even 5 years old also know how to screen catalogs on Internet

[Jamesc]

no need to blame rental 77th Street also won't survive, her business concept never change since day 1, the youth is the same as 20 years ago?

 

now even 5 years old also know how to screen catalogs on Internet

 

Ai yah don't be so hard on her lah.

 

Apart from

 

keeping up with the times

getting new customers

developming new markets

staying relevent

not resting on her laurals

analysing competitors like online sales

watching escalating cost

and being complacent until you close down

 

she is an excellent award winning top entrepreneur.

 

[Angcheek]

Ai yah don't be so hard on her lah.

 

Apart from

 

keeping up with the times

getting new customers

developming new markets

staying relevent

not resting on her laurals

analysing competitors like online sales

watching escalating cost

and being complacent until you close down

 

she is an excellent award winning top entrepreneur.

 

I think that award is a jinx ... most close shop after receiving it

[Staff69]

no need to blame rental 77th Street also won't survive, her business concept never change since day 1, the youth is the same as 20 years ago?

 

now even 5 years old also know how to screen catalogs on Internet

 

true true

Edited June 29, 2016 by Staff69

[Jamesc]

I have the biggest investment lobang this century.

 

Sell everything MIL false teeth, children, everything

 

and put all your money in Tanzania.

 

They have found a huge amount of one of the most

 

precious resource there.

 

Tanzania has the biggest amount of helium gas supplies.

 

Imagine what we can do with cheap helium. Helium is 

 

lighter than air. That means cars in future will be filled

 

with helium and they can fly. People will strap helium 

 

packs to their back and we will fly like rocket man.

 

They will strap ballons of helium to cargo ships and ship

 

will be flying across the oceans instead of sailing.

 

The cost of transporting everything will collaspe.

 

Remember where you heard this tip first.

 

From the lesbian.

 

[Xtraz]

I think that award is a jinx ... most close shop after receiving it

[Yewheng]

http://trends.ufm.edu/en/articles/recent-rise-delinquency-rates-bank-loans-shocking-new-banking-crisis-imminent/

 

Keep a lookout for delinquency rate on bank loan in USA. It's rising quite fast after the Fed rate Hike in dec16. We are now in the process on bigger economic crisis then year 2008 and possibly worst then great depression in 1929.

Edited June 29, 2016 by Yewheng

[Wyfitms]

I have the biggest investment lobang this century.

 

Sell everything MIL false teeth, children, everything

 

and put all your money in Tanzania.

 

They have found a huge amount of one of the most

 

precious resource there.

 

Tanzania has the biggest amount of helium gas supplies.

 

Imagine what we can do with cheap helium. Helium is 

 

lighter than air. That means cars in future will be filled

 

with helium and they can fly. People will strap helium 

 

packs to their back and we will fly like rocket man.

 

They will strap ballons of helium to cargo ships and ship

 

will be flying across the oceans instead of sailing.

 

The cost of transporting everything will collaspe.

 

Remember where you heard this tip first.

 

From the lesbian.

 

 

what lobang, u bluff who?

 

I know u copied this idea from a movie

 

[Wyfitms]

http://trends.ufm.edu/en/articles/recent-rise-delinquency-rates-bank-loans-shocking-new-banking-crisis-imminent/

 

Keep a lookout for delinquency rate on bank loan in USA. It's rising quite fast after the Fed rate Hike in dec16. We are now in the process on bigger economic crisis then year 2008 and possibly worst then great depression in 1929.

 

wah! u can tell the future ah.. rate hike in dec 16?

 

LOL anyway we are royally screwed if NPL goes up just from a measly 25bp hike after 6 long years

 

good luck world   

[Kangadrool]

IIRC, 199 shop also got award. After award, warded to history book.

 

Better to reject awards to prevent being jinxed.

Edited June 30, 2016 by Kangadrool

[Jamesc]

IIRC, 199 shop also got award. After award, warded to history book.

 

Better to reject awards to prevent being jinxed.

 

Yah lah Daiso never got award

 

and still doing well.

 

I think its the 1 cent that makes

 

all the difference. Every customer

 

pay you 1 cent more, you will be rich.

 

[Jamesc]

To pay back the 1 cent must go to the bank to get the 1 cent.

 

So many stores and so many 1 cent needed. To go to the bank

 

need to pay security to escort the 1 cent back to the branch.

 

To pay back the 1 cent takes additional time by the counter staff.

 

The staff must do extra work to give back the 1 cent to the customer.

 

1 cent is nothing but when you have hundreds of customers a day

 

buying thousands of items that hundreds of thousands of 1 cents.