Latest news with #TheOriginalFactoryShop
Scottish Sun
14 hours ago
- Business
- Scottish Sun
Full list of 43 shops and banks vanishing from British high street forever in July – is your local closing?
MAJOR retailers and banks will close several stores for good this month as the high street continues to face difficulties. The closures come as UK businesses continue to faced increased costs alongside a decline in footfall. 1 More retail and bank locations are set to close in July as businesses face lower footfall and higher costs (stock image) Credit: Getty Changes in this year's budget, including an increase in employer National Insurance contributions and energy and rent costs have piled on pressure for companies. As a result, some retailers have been forced to make drastic changes to remain competitive. This includes hiking prices, reviewing expansion plans and reducing the number of stores they have. Here is a full list of the shops and banks we know are shutting in July 2025. The Original Factory Shop The discount high street chain closed nine shops in June after previously warning it would have to shut some 'loss-making' locations. This comes after the discount chain began to struggle in recent years. And now the retailer is now set to close its location in Staveley, Cumbria on July 12. The private equity firm Modella bought The Original Factory Shop in February and has since launched a restructuring effort. This was carried out in an effort to renegotiate rents at 88 The Original Factory Shop stores across the country. Modella also recently bought Hobbycraft and WHSmith's high street shops. Co-op Faces Uncertain Future: 34 Stores at Risk Amid Financial Struggles Iceland The supermarket chain will close its store on Rose Street in Inverness on July 12. There will no longer be any Iceland stores in the Scottish city, with the closest located in Aberdeen. This move will come just weeks after Iceland shut down its Margate branch. The retailer has not yet confirmed the reason for the sudden closure but it has been completing a broader reshuffle of its operations in recent months. This is part of an effort to adapt to shifting consumer habits, cost pressures, and the growing demand for convenience and online shopping. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." Poundland After a series of closures in the past few months, Poundland is set to shut down its location in Deepdale Retail Park in Preston on July 5 and another store in Newquay on July 30. Gordon Brothers, the ex-owner of Laura Ashley, purchased the business from Polish owner Pepco Group for £1 after a downturn in trading. The new owners are asking the court for permission to close 68 stores and negotiate lower rents on others. Up to 82 more stores are potentially at risk of shutting down in the future. However, before the sale was agreed, Poundland had already planned to close 18 stores, with the July shutdowns among the last to be confirmed. New Look The famous fashion retailer is set to close another location at the beginning of July. Hamilton, Scotland will see its New Look store permanently pull the shutters on July 1. The move comes after the shop announced it would be closing nearly 100 stores in the coming months. A New Look spokesperson said: 'Our store in Hamilton is set close on July 1. We would like to thank all of our colleagues and the local community for their support over the years. "We hope customers continue to shop with us online at where our full product ranges can be found.' Santander Santander is set to close 38 branches next month after announcing locations were struggling due to the increase in online banking. A statement on the Santander website reads: "We last did a major review of our branches in 2021. "Since then, many of our customers are choosing to use Mobile, Online and Telephone Banking more, and branches less." The Santander locations set to close in July are:
The Sun
14 hours ago
- Business
- The Sun
Full list of 43 shops and banks vanishing from British high street forever in July – is your local closing?
MAJOR retailers and banks will close several stores for good this month as the high street continues to face difficulties. The closures come as UK businesses continue to faced increased costs alongside a decline in footfall. Changes in this year's budget, including an increase in employer National Insurance contributions and energy and rent costs have piled on pressure for companies. As a result, some retailers have been forced to make drastic changes to remain competitive. This includes hiking prices, reviewing expansion plans and reducing the number of stores they have. Here is a full list of the shops and banks we know are shutting in July 2025. The Original Factory Shop The discount high street chain closed nine shops in June after previously warning it would have to shut some 'loss-making' locations. This comes after the discount chain began to struggle in recent years. And now the retailer is now set to close its location in Staveley, Cumbria on July 12. The private equity firm Modella bought The Original Factory Shop in February and has since launched a restructuring effort. This was carried out in an effort to renegotiate rents at 88 The Original Factory Shop stores across the country. Modella also recently bought Hobbycraft and WHSmith's high street shops. Co-op Faces Uncertain Future: 34 Stores at Risk Amid Financial Struggles Iceland The supermarket chain will close its store on Rose Street in Inverness on July 12. There will no longer be any Iceland stores in the Scottish city, with the closest located in Aberdeen. This move will come just weeks after Iceland shut down its Margate branch. The retailer has not yet confirmed the reason for the sudden closure but it has been completing a broader reshuffle of its operations in recent months. This is part of an effort to adapt to shifting consumer habits, cost pressures, and the growing demand for convenience and online shopping. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." Poundland After a series of closures in the past few months, Poundland is set to shut down its location in Deepdale Retail Park in Preston on July 5 and another store in Newquay on July 30. Gordon Brothers, the ex-owner of Laura Ashley, purchased the business from Polish owner Pepco Group for £1 after a downturn in trading. The new owners are asking the court for permission to close 68 stores and negotiate lower rents on others. Up to 82 more stores are potentially at risk of shutting down in the future. However, before the sale was agreed, Poundland had already planned to close 18 stores, with the July shutdowns among the last to be confirmed. New Look The famous fashion retailer is set to close another location at the beginning of July. Hamilton, Scotland will see its New Look store permanently pull the shutters on July 1. The move comes after the shop announced it would be closing nearly 100 stores in the coming months. A New Look spokesperson said: 'Our store in Hamilton is set close on July 1. We would like to thank all of our colleagues and the local community for their support over the years. "We hope customers continue to shop with us online at where our full product ranges can be found.' Santander Santander is set to close 38 branches next month after announcing locations were struggling due to the increase in online banking. A statement on the Santander website reads: "We last did a major review of our branches in 2021. "Since then, many of our customers are choosing to use Mobile, Online and Telephone Banking more, and branches less." The Santander locations set to close in July are: Armagh July 1 Bognor Regis July 14 Borehamwood July 1 Caernarfon July 7 Camborne July 7 Colne July 14 Colwyn Bay July 24 Crowborough July 23 Cumbernauld July 7 Didsbury July 8 Exmouth July 15 Falmouth July 21 Farnham July 29 Felixstowe July 16 Hackney July 15 Hawick July 24 Herne Bay July 8 Hertford July 29 Holloway July 14 Honiton July 14 Kirkby July 22 Malvern July 2 Market Harborough July 1 New Milton July 28 Pudsey July 28 Rawtenstall July 15 Ross-On-Wye July 30 Ruislip July 7 Saltcoats July 21 Seaford July 14 Shaftesbury July 23 St Austell July 8 St Neots July 30 Stokesley July 31 Strabane July 23 Tenterden July 7 Tottenham July 8 Wishaw July 22
Daily Mirror
18 hours ago
- Business
- Daily Mirror
Major UK discount store shuts 8 branches this weekend in major restructure
The Original Factory Shop is closing stores in Perth, Chester Le Street, Arbroath, Kidwelly, Pershore, Normanton, Peterhead and Shaftesbury on June 28 The Original Factory Shop is shutting eight high street stores for good this weekend - with three more closures in the pipeline for later this summer. The discount chain is closing stores in Perth, Chester Le Street, Arbroath, Kidwelly, Pershore, Normanton, Peterhead and Shaftesbury on June 28. Another three shops will close later this summer. The Original Factory Shop will shut its branch in Staveley on July 12, followed by its store in Cupar, which will close on July 27. Another branch in Middlewich is also scheduled to shut, but an exact closing date has not yet been published. It comes after The Original Factory Shop closed shops in Heswall and Milford Haven earlier this month. Some of the stores have been posting about closing down sales on social media, with the Peterhead store currently offering 70% off. The store said in one post: "We would like to take this time to thank all of our customers at Peterhead store. "We have loved serving you and being part of the community over the last 18 months. We hope you will pop in to see us before we close. Our last day will be the 28th of June." It comes after its owner Modella Capital launched plans to renegotiate rents at 88 of its 178 stores through a company voluntary arrangement (CVA), according to Sky News. A CVA is an agreement between a business and its creditors that allows debts to be paid off over a fixed period of time. The creditors must first approve the CVA before it can be implemented. The Original Factory Shop employs around 2,000 people. A spokesperson for The Original Factory previously said: "The Original Factory Shop (TOFS) recently confirmed that as part of a restructuring a number of its loss-making stores will have to close. "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future. "We have already announced that two stores will close. Additionally, a small number of other stores are currently under review, with their continued operation subject to ongoing negotiations with landlords." Full list of The Original Factory Shop closures Heswall, Merseyside - June 21 Milford Haven, Pembrokeshire - June 26 Perth - June 28 Chester Le Street, County Durham - June 28 Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Peterhead, Aberdeenshire - June 28 Shaftesbury, Dorset - June 28 Staveley, Cumbria - July 12 Cupar, Fife - July 27 Middlewich, Cheshire - TBC
The Sun
19 hours ago
- Business
- The Sun
Bargain retail chain to shut EIGHT stores in just hours as it launches 70% off clearance sales – is one going near you?
A HIGH street bargain retailer has a staggering 70% off all products ahead of major closures. With eight stores shutting shop in a matter of hours - here's everything to know so you don't miss out on mega discounts. 4 The Original Factory Shop has launched their mega sale onall their products ahead of closures at eight stores on June 28. It follows closures at stores in both Merseyside and Pembrokeshire. Earlier this week residents of Heswall in Merseyside and Milford Haven in Pembrokeshire said goodbye to the retailer. The Milford Haven site had announced its closure in May, informing customers that doors would be closing after 15 years in the town. It's a period of change for the business with eight stores closing on June 28. 4 Every branch closing June 28 Shoppers nationwide will see the impact of the closures as a number of stores are set to shut. From Perth to Dorset, high street shoppers will be able to get massive savings on garden, household and electrical products. The eight branches closing on June 28 are: Perth Chester Le Street, County Durham Arbroath, Angus Kidwelly, Carmarthenshire Pershore, Worcestershire Normanton, West Yorkshire Peterhead, Aberdeenshire Shaftesbury, Dorset 4 Further closures to come While shoppers in these eight locations only have a matter of hours to make use of the incredible 70% off savings, the discounts will continue in some locations. The department store announced that 13 stores will be closing nationwide over the summer months. From June 28, there will have been 10 closures across the country, with three more to come imminently. Staveley, Cumbria - July 12 Cupar, Fife - July 27 Middlewich, Cheshire - TBC Shoppers looking for a bargain in Cumbria, Fife, and Cheshire still have over two weeks to make use of the discount on offer before the stores close in July. The reason behind the closures Although this may be shoppers first time hearing of the closures of the long-standing bargain retailer, these 13 closures follow the more than a dozen that have already closed their doors in the past 12 months. The reason for the large scale change to the business comes after private equity firm Modella bought The Original Factory Shop in February. Since then a business-wide restructuring effort was launched, including the renegotiation on rents for 88 stores. The Original Factory shop previously announced that "number of loss-making stores will have to close" as part of the restructuring, as reported by The Press and Journal. It said: "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." 4 While Modella may not be a household name, they have become an integral of the British high street after acquiring Hobbycraft and WHSmith.
Scottish Sun
5 days ago
- Business
- Scottish Sun
Original Factory Shop to close three Scots stores this week – see the full list
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR high street retailer has announced it is closing three Scottish stores this week, with a fourth set to shut next month. The Original Factory Shop is a discount department store chain which had over 180 branches across the UK. Sign up for Scottish Sun newsletter Sign up 1 Three The Original Factory Shop branches across Scotland are set to close Credit: Alamy The retail chain sells a range of discounted products, like cleaning supplies, travel items and even some beauty products. Customers can also pick up pet products, jewellery, drinks, perfume and footwear. However, bosses have revealed that they are pulling down the shutters on nine shops across the UK this week. This includes Scottish branches in Perth, as well as Arbroath, Angus, and Peterhead, Aberdeenshire. All three stores will close for good on Saturday, June 28. A fourth store in Cupar, Fife, will also close for good next month on Sunday, July 27. The closures come after The Original Factory Shop was taken over by Modella Capital earlier this year. The private equity firm, which is known for taking on struggling retailers, bought the retailer in February. It then quickly launched a restructuring effort to renegotiate rents at 88 of the retail chain's stores. Modella, which also recently acquired Hobbycraft and WHSmith's high street shops, drew up plans to initiate a Company Voluntary Arrangement in April. Car dealership abruptly closes after 60 years with customers' vehicles trapped inside as they find note on door A CVA is a way of restructuring that means a business can continue trading while negotiating its debts, for example, by cutting rent costs with landlords. And bosses told the Press and Journal at the time that a "number of loss-making stores will have to close" as part of the CVA. They added: "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." The full list of all nine stores across the UK that are set to close is: Milford Haven, Pembrokeshire - June 26 Perth - June 28 Chester Le Street, County Durham - June 28 Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Peterhead, Aberdeenshire - June 28 Shaftesbury, Dorset - June 28 Staveley, Cumbria - July 12 Cupar, Fife - July 27 Middlewich, Cheshire - TBC Ten The Original Factory Shop shops also pulled the shutters down for the final time last year. These were: Brightlingsea, Essex Bodmin, Cornwall Chepstow, Wales Fakenham, Norfolk Harwich, Essex Mildenhall, Suffolk Padiham, Lancashire Taunton, Somerset Deal, Kent Haverfordwest, Wales Shoppers have been left gutted after hearing the news of the recent wave of closures. Many have flocked to social media to share their disappointment. Commenting on the Arbroath closure, one customer said: "Another one bites the dust on the high street." A second, finding out about the Cupar branch shutting, said: "So sorry to see you're closing down." Someone else shared: "Gutted that it's closing".
