September 18th 2024.
Which brands will be shutting their doors?
At least 11 brands are set to shutter some of their shops and retailers continue to quit the high street. This is a concerning trend for the retail industry, as it not only impacts the brands themselves but also leads to job losses for thousands of employees. According to the Centre for Retail Research, almost 10,500 shops shut in 2023, resulting in 119,000 jobs lost. And the situation has only worsened in the first six months of 2024, with 1,846 shops closing and 23,982 jobs being lost. This begs the question - which brands are next in line to close their doors, or have already done so this month?
One brand that has recently closed a store is Clarks, a popular shoe brand. In March, their store in Cambridgeshire shut down, following a decline in their store count from 1,400 at its peak to just 320 in July 2023. Since then, even more stores have closed, leaving customers with fewer options for purchasing their products. It's a sad sight to see a lady walking past a closed Clarks store, a reminder of the impact of these closures on both the brand and its customers.
Another brand feeling the effects of the retail decline is Homebase. This month, up to 12 of their branches are set to close, as part of a major transfer to Sainsbury's. The supermarket has already taken over 10 Homebase stores, with two more closures announced in Northampton and Cambridge. Despite currently operating 144 locations in the UK, Homebase has already closed 106 stores since 2018. This significant decrease in store count is a cause for concern for the future of the brand.
Beales, a department store that has been in business for 135 years, also recently closed one of its branches in Southport. The company, which once operated 23 department stores, fell into administration in 2020 and was later purchased by a new owner in 2021. This store closure leaves just one remaining Beales location in the UK, located in Poole. It's a sign of the changing times and the challenges faced by traditional brick-and-mortar stores.
WHSmith, a popular stationery chain, has also been impacted by the retail downturn. Over the past month, two stores have closed, with a total of eight closures since March 2023. This includes stores in Manchester and Bicester, as the company saw a 4% drop in sales. Despite these closures, the brand still operates 1,400 stores in the UK and has plans to open 110 new shops this year in locations such as hospitals, stations, and airports. However, it's a bittersweet sight to see a shopper walking past a WHSmith store offering a clearance sale, a reminder of the tough times faced by the brand.
Even Pizza Hut, a popular chain with 260 restaurants still open in the UK, has had to close some of its locations. The Surrey Quays Leisure Park site shut down on September 14 to make way for redevelopment plans in the area. Additionally, their store in Dartford, Kent, closed last month. In the 1980s, Pizza Hut was opening an average of one restaurant per week, but with mounting debt and a 7% sales slump last year, the future of the chain is uncertain.
Similarly, Blacks Outdoors, a company that once had over 70 stores, will be closing its Leicester branch this month. The brand, which expanded in 1928 and acquired other outdoor retailers such as Millets and Free Spirit, fell into administration in 2011 and was later bought by JD Sports. Despite this, the brand has continued to struggle, with a declining store count and increasing competition from online retailers.
Bonmarché, a clothing brand, is also set to close one of its branches in Arnold, Nottingham, next week. The closure is due to a rent increase by the retail unit landlord, making it too expensive for the chain to remain in the location. This news has upset many locals, including MP Michael Payne, who voiced his concerns over the closure's impact on the community and dedicated staff members. Despite having experienced a resurgence in popularity at the end of 2023, the company fell into administration in 2019, highlighting the challenges faced by brick-and-mortar stores.
Frasers, a retail group owned by Mike Ashley, will also be closing one of its branches in Middlesbrough this month. The branch, formerly known as House of Fraser, was rebranded as Frasers after being purchased by Ashley in 2020. The Frasers Group includes other popular brands such as Sports Direct and Jack Wills, but they have also experienced store closures, including a former House of Fraser location in Carlisle and a Sports Direct branch in Stroud. These closures are a part of a larger restructuring plan to return the company to profitability and ensure a sustainable future.
In Brighton, a family-owned DIY store, Dockerills, will close its doors this month after operating for 109 years. The store, located in Church Street, has been a part of the North Laine community since the mid-70s. However, with less foot traffic in recent years, the store has struggled to stay afloat. It's a sad moment for the family and the community as they say goodbye to this beloved business.
Lastly, Boots, a health and beauty chain, announced last year that it would be closing 300 branches by the beginning of October. This decision was made in an effort to reduce their portfolio and focus on profitability. However, the company has assured that these closures will not result in any job losses for their 52,000 team members. It's a tough decision for the brand, but one that they believe will lead to a stronger future.
In addition to these closures, Cineworld has announced plans to close six of its UK sites in the first phase of a major restructuring plan. The chain, which operates in locations such as Glasgow, Bedford, and Swindon, is aiming to return to profitability and ensure a sustainable future. It's a challenging time for the retail industry, with many brands facing difficult decisions and closures.
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