January 2nd 2025.
The past year has been a challenging one for the British high street, with a number of popular retailers facing closures. Unfortunately, this trend looks set to continue into the new year of 2025. The decline of foot traffic and the financial strain of the cost of living crisis have resulted in many shops being forced to shut their doors for good. According to recent research, a staggering 10,500 UK shops closed permanently in 2023 alone. By the end of 2024, an additional 8,543 stores had closed and nearly a quarter of a million retail jobs had been lost in just two years.
As we enter 2025, it seems that the situation is not improving. Several well-known brands, such as WHSmith, Monki, and Millets, have announced plans to close down stores in the coming months. WHSmith, a popular stationery giant, will be shutting its Winton branch in Bournemouth, Dorset on February 15th. This follows the closure of another nearby branch in Boscombe in June 2024. Despite these closures, WHSmith remains determined to grow and expand. In fact, they have plans to open 110 new stores, with a focus on high-traffic locations such as airports, railway stations, and hospitals. They are also partnering with Toys R Us to introduce toy concessions in some of their UK stores. However, in light of a 4% drop in sales, the company has implemented cost-saving measures in an effort to reduce expenses by £10 million throughout the year.
Another fashion brand, Monki, owned by Swedish retail giant H&M, has also announced plans to close all seven of its UK stores in 2025. This includes popular locations such as Carnaby Street in London and Manchester's Arndale Centre. H&M plans to merge Monki with its sister brand, Weekday, in an effort to streamline their operations and focus on profitability. While specific closure dates have not yet been confirmed, this move reflects the company's efforts to cater to a younger demographic.
In Edinburgh, the popular toy retailer, The Entertainer, will be closing its branch at Cameron Toll shopping centre on January 4th, 2025. This marks the end of its 10-year presence in the area, as the store first opened its doors in 2014. Though the reason for the closure has not been officially stated, CEO Andrew Murphy has cited a government-imposed increase in employer's National Insurance contributions as a factor in their decision not to open two additional new stores.
Co-op has also announced the closure of 19 food stores across England by the end of May 2025. Of these, three will be reopening as B&M branches, while the remaining 16 have been sold to Samy Limited, an independent convenience chain. Central Co-op has stated that these 19 stores have been financially unsustainable for some time. However, the retailer has also opened five new stores and refurbished 35 others in 2024, showing their commitment to continued growth and success.
Outdoor retailer Millets will be closing six stores in early 2025 and has launched massive closing down sales. Four of these locations will be rebranded under its sister brand, Go Outdoors, while one branch will be closing permanently without rebranding. Millets' parent company, JD Outdoors, is prioritizing the expansion of Go Outdoors, which now operates 96 sites nationwide.
In December 2024, DIY chain Homebase also faced closures, with four stores shutting down in Derry/Londonderry, Inverurie, Omagh, and Fife. This followed the closure of six stores in the same month, as all 10 sites were acquired by Sainsbury's for conversion into supermarkets. Homebase's struggles began after its acquisition by Hilco Capital in 2018, resulting in the closure of 93 stores. While The Range has purchased 70 locations, the company continues to face difficulties in the competitive DIY and home improvement sector.
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