A popular shoe retailer with 297 stores explains the reason behind the closure of some of its locations.

The future of the British High Street is looking bleak as a major retailer has announced plans to close its stores. This news comes just a few weeks after the controversial Budget was announced by Chancellor Rachel Reeves.

In the Budget, the new Labour government proposed an increase in national insurance contributions and the national minimum wage, much to the dismay of businesses. Shoe Zone, a popular retailer with 297 stores nationwide, has now become the first company to take action in response to these changes.

According to a spokesperson from Shoe Zone, the additional costs brought on by the Budget have made it impossible for some of their stores to stay afloat. As a result, a number of closures have been planned and this will have a significant impact on the company's financial performance.

The struggles faced by Shoe Zone are not just limited to the effects of the Budget. The company has also been dealing with challenging trading conditions since the change in weather, and consumer confidence has been on the decline in recent months. This has led to the cancellation of their final shareholder dividend payout for 2023/24.

Already, several Shoe Zone branches have closed their doors, with the company originally planning to move to a "big box and hybrid" store format instead of the traditional shop fronts. This has left shoppers disappointed, as seen with the recent closure of the Burgess Hill branch in West Sussex. One resident expressed their disappointment, stating that Shoe Zone was the only place they could find their size 9 sandals and they do not travel to other towns.

Other areas that will also see the closure of their local Shoe Zone include Portsmouth and Watford. In 2023 alone, 13 stores were shut down. And unfortunately, this trend is expected to continue as we head into 2025. This is just another piece of worrying news for the British High Street, which has already seen six thousand retail outlets close since 2018, according to the British Retail Consortium.

Helen Dickinson OBE, the chief executive of the trade association, attributes the decline of the high street to the "crippling" business rates and the ongoing impact of COVID-19. As the future remains uncertain, it is crucial for the government to take action in order to support struggling businesses and preserve the British High Street.

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