Latest news with #storeClosure
The Sun
6 days ago
- Business
- The Sun
Major bargain retailer launches 50% off Christmas sale in July after shutting nine UK stores in just a week
A MAJOR bargain retailer has launched a rather early Christmas decoration sale after closing nine UK stores in just a week. A branch of the discount store, is offering a 50 per cent off sale - including festive items - as it prepares to shut its doors for good. The Original Factory Shop, which has 178 shops, has announced the upcoming closure its branch in Caldicot. It is the latest in a string of closures, with a further eight stores having shuttered down on June 28. But while Caldicot residents have been left bitterly disappointed by the news, the store is going out with a major sale. Any shoppers looking to stock up on Christmas gifts and decorations early are in luck, as the closing down sale includes the shop's festive stock. A spokesperson for the chain said on Facebook: "Caldicot Store Closing Down Sale. "We have UP TO 50% off items including Christmas stock! " Open 9am until 5.30pm Monday to Saturday and 10am until 4pm Sundays." But commenters on Facebook were distraught that the branch would closing. One user said: "Oh no, I'm gutted, I come over from Weston-Super-Mare to house sit and I absolutely love this shop so many bargains. Very sad!" Aldi's backyard essential is flying off shelves for only $29.99 and instantly gets your home ready for summer "A loss for Caldicot with another shop closing down," another commented. A third said: "Village of my birth so sad to witness such change." It comes after TOFS was bought by Modella Capital back in February. It has since launched a restructuring effort to renegotiate rents at 88 of the retail chain's stores. Last month, a spokesperson for The Original Factory Shop 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." The Original Factory Shop was contacted for further comment. The Original Factory Shop closures 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 Bridlington - July 20 Caernarfon - July 20 Cupar, Fife - July 27 Kirkham, Lancashire - August Middlewich, Cheshire - TBC Blairgowrie, Scotland - TBC Ashbourne - TBC Heswall - TBC Caldicot, Wales - TBC 2
The Sun
01-07-2025
- Business
- The Sun
Game is shutting down MORE stores in just weeks with 20% off ‘everything must go' sale
BRITISH retailer GAME has announced the closure of yet another store as it dials back its presence on the highstreet. The retailer's long-standing Chatham store, inside the Pentagon Centre, will shut in September. 1 The GAME shop in Victoria Centre, Nottingham, is also set to close its doors next month. Stock in all stores must go, with most items being flogged at 20 per cent off. GAME sells a variety of video games, consoles and pop culture merchandise. Shoppers in the Chatham store can get 20 per cent off all full price toys, board games, LEGO, video games, plushies and gaming accessories like headphones. The Chatham branch narrowly avoided closure in 2020 when 40 locations across the UK were axed. The retailer has shut a number of its locations across the UK in recent months. The video game retailer has undergone significant restructuring and downsizing. While plans don't indicate that the stores will disappear from the British high street completely many locations are expected to close. GAME, in Festival Place, Basingstoke, will also be holding a 20 per cent off everything closing down sale before shutting up shop for good on August 10. The retailer has given no reason for the abrupt departures from shopping centres in the UK. However, the decline comes amid a significant drop in sales of physical video games, compared to Game's heyday in the early 2000s. The Digital Entertainment and Retail Association (ERA) revealed that in 2022, nearly 90 per cent of all video games sold in the UK were digital downloads. 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."
The Sun
01-06-2025
- Business
- The Sun
Popular chain with more than 1,600 stores to ‘close high street branch' in blow to shoppers
SHOPPERS were saddened to hear a popular chain with more than 1,600 stores is set to close a beloved branch. Holland & Barrett are reportedly shuttering a once-thriving site imminently, in yet another blow to the high street. 1 Residents in Inverness, Scotland, were disappointed to see a "closing soon" sign taped to their local store. "We're sorry this store is closing soon but you can still shop at it read. Holland & Barrett is one of the UK's leading health stores and is known for selling a range of vitamins, vegan food and beauty products. The company have not given an official shut down date as of yet, as reported by the Inverness Courier. It is understood the lease on the shop may be up for renewal soon, which may have led to decisions being made around potential closure. However, it is not known whether Holland & Barrett could re-open at a new site nearby. This comes after the company announced plans to roll out more than 30 new UK stores as part of a three-year mission. It will also be transforming 320 existing sites, as well as launching new brands both in the UK and internationally. And, in its annual report, Holland & Barrett recorded double-digit growth for the second year running. The firm boasted a 10 per cent year-on-year sales growth in the last financial year, and £524.2million in profit. Scottish vintage clothing store launches huge closing down sale with 80% off It added: "As a result, confidence is high that the company will see a third consecutive year of strong growth driven by the significant acceleration of online in fiscal year 2025." Holland & Barrett were contacted for comment This comes follows the closure of a branch on Hanley's high street in Stoke on Trent bit the dust. They were forced to relocate, and ahead of the move, Holland & Barrett said: "We can confirm we will be closing H&B Hanley later next month and opening our new, bigger and better store in The Potteries Centre. 'We are delighted to be opening a larger store with an even wider range of products and an increased store team of experts to support the community on their wellness journeys. 'We look forward to welcoming our customers from our Hanley store soon.' Meanwhile, not long ago the company confirmed its shops in Chard, Somerset, and Frinton-on-Sea, Essex, would be closing their doors. This comes ahead of more closured from major retailers this month as the high street continues to face difficulties. This year businesses have faced increased costs due to Government changes announced in the Budget. An increase in employer National Insurance contributions, energy and rent costs and lower customer footfall have all piled on pressure. As a result, some retailers have been forced to hike prices, review expansion plans and reduce the number of stores they have. But remember, retailers regularly close shops for a number of reasons, not just because they are struggling. For example, they may have a nearby store that is performing better or may want to move to a location that will have a higher footfall, such as a retail park. Here is a full list of the shops we know are shutting in June 2025. They include, but aren't limited to, The Original Factory Shop, Poundland, and The Works. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. 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." Professor Bamfield has also 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."
