Bad Times Loom

Gandlaf the Grey · **Posted:** Sat Mar 23, 2013 4:49 pm

Austerity has seemed to have found another victim. The Games Workshop in Hull has closed and with the exception of a handful of items in Hobby Craft there is nothing in the city.
There is a target population of 3/4 million within 10 miles so I don't think this bodes too well. It was only 18 months ago that you could hardly get in the place on a Saturday and it had a couple of late nights for gamers, even an adult night !
Hull has its own problems with being a low income area but there is enough cash about to more than support one GW shop. All in all I think this is very bad tidings and could be a sign of things to come.

SouthernDunedain · **Posted:** Sat Mar 23, 2013 4:51 pm

This is one of the main reasons I try and buy from my local GW to keep it going. Always spend at least £50 instore over a monthly period.

Azog · **Posted:** Sat Mar 23, 2013 5:11 pm

Unfortunately this is very much a sign of the times, perhaps not helped by Game Workshop's desire to maximise profit. Perhaps greed will be their undoing in this current climate.

JamesR · **Posted:** Sat Mar 23, 2013 5:20 pm

I believe GW is dying and trying to cash grab as much as possible for these next few years then its belly-up

Hashut's Blessing · **Joined:** Fri Jan 15, 2010 8:41 pm **Posts:** 1279

The main reason was crime, more than lack of income. I can garauntee as they almost put me in that shop and I declined it for those reasons and they even had to warn me of the crime rates in general and of the store.

Theodred · **Posted:** Sat Mar 23, 2013 6:31 pm

It's not GW's fault. They have to justify a certain amount of revenue per store as stores are let and not owned by GW and GW is a public company (LSE: GAW). Also bear in mind that at each Annual Shareholders Meeting, the senior management of GW can be dismissed by vote if they are failing to make profitable decisions.

@JamesR, the only way GW goes "belly up" is through declaring bankruptcy or default. This is incredibly unlikely as the combination of Warhammer, 40K, LotR/Hobbit, BlackLibrary, ForgeWorld, Specialist Games all combined keep the company profitable even in bad years (like '08/'09).

Leonardis · **Joined:** Wed Oct 05, 2011 4:06 pm **Posts:** 891

It's such a shame - I love GWS, the figures and games.

The trouble is the price, LOTR stuff has doubled this last year and I have gone from spending £50-100 a month in store to ONLY buying from eBay! I really want to support GWS but at the price they charge I refuse to buy any from them. I just wish they would lower the prices and start selling more again... Then I would have a hobbit collection to be proud of!

Lorizael · **Joined:** Sat Jul 24, 2010 4:58 pm **Posts:** 202

When did that happen? Says nothing about this on the store Facebook:

https://www.facebook.com/GWHull?ref=stream

Azog · **Posted:** Sun Mar 24, 2013 8:14 am

Quote:

There is a target population of 3/4 million within 10 miles so I don't think this bodes too well. It was only 18 months ago that you could hardly get in the place on a Saturday and it had a couple of late nights for gamers, even an adult night !

Was it a poor performing store though ? From this comment it suggests not. Unless people were going in to play but not buying anything.

Gandlaf the Grey · **Posted:** Sun Mar 24, 2013 8:49 am

I'm not sure how well it's been performing sales wise but of late the staff were all over you like a rash when you walked in, clearly pushing the sale.
There's been a big closed sign on the front door for a week or so and no sign of movement.
As for crime, I'm a police officer in Hull and they never reported anything to us, that doesn't mean to say it wasn't happening but how can you help if you don't get told ?

Lorizael · **Joined:** Sat Jul 24, 2010 4:58 pm **Posts:** 202

Odd, the page posted yesterday inviting people to come in and use the 'hobby bar'.

ElfLover · **Posted:** Sun Mar 24, 2013 9:55 am

I've got 2 fully functioning GW stores here in a town of only half a million

greendragon · **Posted:** Sun Mar 24, 2013 11:34 am

I'm not sure that spending your hard-earned in a GW store to keep it afloat really matters. At the end of the day all money goes to GW HQ and I believe that logic has gone so far out of the window with them that they probably chose Hull at random from a hat, it may even have been performing really well! They then spent their latest round of profits on building mini-rockets aimed at independent retail stores but forget to buy actual working warheads as they got distracted halfway through and spend the remainder of their cash on a huge fluffy bunny.

Azog · **Posted:** Sun Mar 24, 2013 12:46 pm

Have you got a secret microphone in their board meetings :wink:

I think the independents are being squeezed as they hate the idea of not all of the profit going to them.

It is one of those "price of everything - value of nothing" scenarios isn't it with no regard for the small independents trying to earn a living and the hobbyists that keep GW solvent.

Sad times :roll:

Pindergorn · **Posted:** Sun Mar 24, 2013 2:53 pm

If GW wants to shut down independent retailers, thats their right - its their product range.

BUT they should not be going about it in such dishonest and underhanded ways, dictating such draconic trading terms and policies that are clearly designed to drive certain retailers out of business.

If GW doesn't want certain retailers (particularly online retailers) selling their products, they should cease trading with those retailers altogether - just don't sell to them.

Dorthonion · **Posted:** Sun Mar 24, 2013 2:53 pm

Here is an interesting article I happened across today while listening to Beasts of War/Tabletop Nation talking about the change to the GW terms and conditions in Canada. This article is from a worldwide perspective:

http://thegaminggang.com/2013/01/plenty ... p-in-2013/

Strangely (or maybe not), it was Titans and Space Marine that got me non-historical gaming. I spent a lot of money over many years on those. Not feeling the urge to rush out and spend much on GW at present but other things are benefiting from the spare cash

Pindergorn · **Posted:** Sun Mar 24, 2013 3:40 pm

From that article...

Quote:

Given the rumors the largest shareholder in the company, Kirby himself, is preparing to cash out it then makes sense to shove Wells out the door and take the reins of both positions to better push the company into a maximum profit mode until Kirby can divest himself of his stock.

This, THIS is the root cause of my animosity with GW. I hate the way the company is being run.

It was once a great company, with great IP, good and fun games (still are, though its certainly been hindered by the aggressive cost cutting and price hikes), friendly and helpful staff (though aggressive salesmen), great facilities (hindered by the One Man store policy).

But its being let down by the people in charge, who have no love for the hobby. I seriously doubt that Kirby has painted a miniature in his life, nor played a game. And he certainly doesn't pay much heed to people who do love the hobby.

Theodred · **Posted:** Sun Mar 24, 2013 5:03 pm

King Ondoher wrote:

From that article...

Quote:

Given the rumors the largest shareholder in the company, Kirby himself, is preparing to cash out it then makes sense to shove Wells out the door and take the reins of both positions to better push the company into a maximum profit mode until Kirby can divest himself of his stock.

This, THIS is the root cause of my animosity with GW. I hate the way the company is being run.

It was once a great company, with great IP, good and fun games (still are, though its certainly been hindered by the aggressive cost cutting and price hikes), friendly and helpful staff (though aggressive salesmen), great facilities (hindered by the One Man store policy).

But its being let down by the people in charge, who have no love for the hobby. I seriously doubt that Kirby has painted a miniature in his life, nor played a game. And he certainly doesn't pay much heed to people who do love the hobby.

It doesn't matter, investment is about profitability. I hold equity in British American Tobacco but I don't smoke

But I agree, the price hikes make no sense relative changes in inflation (CPI) and ∆household income over the last 10 years. They can't maintain these prices and still expect there to be the same level of demand for the SBG...

Pindergorn · **Posted:** Sun Mar 24, 2013 5:20 pm

Why do you always use Italics?

Theodred · **Posted:** Sun Mar 24, 2013 5:26 pm

King Ondoher wrote:

Why do you always use Italics?

So I can always see my posts quickly when I scroll down a thread. I've been doing it on different forums for years. If it bothers you, I can stop

Bad Times Loom

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