The closing shop chains thread...

[dutchman]

Huge sportswear retailer Sports Direct set to close down in Coventry



A popular sportswear retailer will soon be closing down in Coventry. Sports Direct at Central Six Retail Park will be closing in a matter of weeks, it is understood.

All of the full-price items are currently on sale and have been marked down by at least 20 per cent ahead of the store closure in October. Signs emblazoned on the shopfront read: 'Closing Down. 20% Off Full Price.'

Shoppers could be seen flocking to the store over the weekend with the hope of picking up cut-priced clothing as all remaining stock has been reduced. Customers told CoventryLive they were 'saddened' to hear of the closure of the retailer at Central Six.

It comes as several once-popular retailers fight for survival in an ever-changing retail climate with many high-street favourites disappearing all over the UK. Wilko, Next and Boots are among the huge names that have announced plans to close for good in 2023.

However, Sports Direct will soon be opening a brand-new city centre store in the former BHS and Carphone Warehouse. It was set to open earlier this year but plans have been delayed with hoarding still surrounding the empty unit on Upper Precinct.

[dutchman]

Sports Direct will soon be opening a brand-new city centre store in the former BHS and Carphone Warehouse

I'll believe it when I see it!

[dutchman]

KFC closes for good at West Orchards Shopping Centre as new restaurant to take over



A popular fast-food restaurant has closed down in Coventry. KFC at West Orchards Shopping Centre closed for good after the company reached the 'end of its lease.'

CoventryLive understands that the popular restaurant closed on Sunday, September 24. Hoarding has now been placed around the eatery in West Orchards.

Customers can find the nearest branch on Cross Cheaping. Diners can also visit the other city-based branches on Olivier Way, Walsgrave Road, Vanguard Avenue and Austin Drive in Courthouse Green.

A brand-new restaurant will soon be taking over the vacant unit in West Orchards. Centre Manager Andy Talbot said that the new eatery will be opening before Christmas.

A spokesman for KFC said: “It has been a great run, but all good things must come to an end so we have closed our doors for good at West Orchards Shopping Centre. We hate goodbyes so we are looking forward to welcoming all our loyal fans just down the road at our restaurant on Cross Cheaping.”

[dutchman]

Sadness as much-loved Boots in Coventry closes after fight to save it



Staff at a cherished Boots in Coventry will close the front door one final time today (27) after campaigners lost their fight to save it. Coventry North West MP Taiwo Owatemi launched a petition to keep the Tile Hill branch open, arguing that its closure would 'exacerbate health inequality in the area'.

But the die had already been cast with the Jardine Crescent outlet one of 300 nationwide set to close in the coming weeks and months. Pictures taken of the store today show a collection of barren shelves and not a customer in sight. Though the lights were on, metal shutters were down on all bar the front door.

Boots intends to reduce the number of its UK shops from 2,200 to 1,900 as it streamlines operations in an increasingly challenging economic climate. In stating her case to keep it open, Ms Owatemi had said: "As the only pharmacy in Jardine Crescent, the closure will not only impact patient access to medicine, but will exacerbate health inequality in the area.

"Customers relying on the local Boots pharmacy will now have to travel to the Boots store at Cannon Park which is two miles away. This will disproportionately impact those with travelling difficulties including disabled and elderly customers. During a cost-of-living crisis, people should not have to pay for travel to their local pharmacy.

"During the pandemic, the local pharmacy provided people with support and confidence and over the years, pharmacy staff have built close relationships with customers and local GPs. With the closure, these important relationships will be lost. Our local pharmacy is the heart of the community."

[rebbonk]

Shares in TheWorks crashed more than 30% this morning after the retailer warned it does not expect a merry Christmas.



It now expects profits to be around £6m – well below its previous forecast of £10m, which was showing no improvement on last year.

Shareholders reacted to the profit warning with a sell-off, as the price slumped below 25p in early trading.

TheWorks floated on the London Stock Exchange at 160p-per-share in July 2018, valuing the retailer at £100m. After this morning’s fall, the company has a market value of just £17m.

The books, stationery and gifts retailer, which could be described as a stocking fillers specialist, has already increased its promotional activity and expects to have to continue this into the peak Christmas trading period. It has also taken “mitigating action to reduce costs where we can”.

However the Sutton Coldfield-headquartered company has warned of “a high degree of uncertainty” about its Christmas trading forecasts because it expects shoppers will repeat last year’s behaviour of leaving purchases “until very late in the season”.

Chief executive Gavin Peck said: “Consumer sentiment softened towards the end of the period, which resulted in early discounting across the sector and increased uncertainty as we head into the Christmas period. Recognising the competitiveness of the market we have responded with more promotional activity, which we expect to continue as we approach Christmas.”

Peck said he believed the company’s “‘better, not just bigger’ strategy has the potential to deliver profitable growth in the medium and long-term”.

Russ Mould, investment director at AJ Bell, described it as “the Nightmare before Christmas” for the high street retailer.

He said: “The company was meant to be a champion in the cost-of-living crisis, selling cheap products to people who have been watching every penny. The idea of getting a big discount on a toy or book would appeal in such economic conditions. Sadly, its tills aren’t ringing as expected.”

Source: https://www.thebusinessdesk.com/westmidlands/news/2079334-retailers-shares-crash-to-all-time-low-on-fears-of-miserable-christmas-ahead (may require sign up)

[dutchman]

LloydsPharmacy goes into liquidation owing £293m



LloydsPharmacy has entered into liquidation, concluding the final stage of its year-long divestment campaign under private equity owner Aurelius.

The pharmacy group appointed Martin Armstrong and Andrew Bailey of Turpin Barker Armstrong Accountants on January 16 to handle the proceedings.

In its statement of affairs report, the liquidators revealed that the pharmacy business owes £293m to 514 creditors.

This includes £228m owed to former LloydsPharmacy owner Admenta UK, with £50m owed to Aurelius Crocodile – a holding company used to control the business.

However, the liquidators said just £8.2m of assets can be recovered for LloydsPharmacy’s “preferential creditors” and £800,000 for its unsecured creditors.

LloydsPharmacy was sold to investment firm Aurelius UK in 2021 for £477m. At the time, the healthcare chain employed more than 2,500 pharmacists at almost 1,300 pharmacies.

The notice to appoint liquidators follows a year-long divestment campaign of its store estate of 1,054 high street and community pharmacies.

The programme concluded on November 26 when the pharmacy retailer exited the high street.

LloydsPharmacy’s holding company Hallo Healthcare said the pharmacies were “bought individually or in regional packages” by “independent pharmacy owners and local entrepreneurs”.

It added that over 6,500 branch colleagues were transferred across the branches were sold.

The healthcare chain’s owner began offloading its store estate early last year shortly after it announced it was shuttering all 237 of its branches inside Sainsbury’s in response to what it termed as “changing market conditions”.

Lloydspharmacy chief executive Kevin Birch stepped down from the business in May after just eight months at the helm.

His departure was joined by the sale of Hallo Healthcare’s private travel clinic company Masta to Irish-led travel group Nomad Travel.

A spokesperson for Hallo Healthcare Group said: “Whilst it may have left the high street, the LloydsPharmacy brand name and heritage remains in specialist pharmacy, clinical and digital healthcare.”

[dutchman]

I could never get served there, there was always some problem or other with my repeat prescription.

It's only advantage was that it occupied a site inside Hillfields Health Centre.

[dutchman]

I saw this when it started in America, seems it's now spread to the UK:

‘Our town is dying’: Discount supermarket giant closes store as locals say they will struggle to get to the supermarket



A POPULAR discount supermarket is set to close for good this weekend after 25 years of operating.

Lidl in Paignton, Devon, has its last day of trading Sunday after becoming "no longer fit for purpose", its owners said.

The store in the Victoria Centre will shut for good on February 4 after long speculation about its future.

But fans of the supermarket and Paignton locals have been left distraught at the "huge loss".

They said the closure of the Lidl marks the end of the final supermarket in the town centre.

Paignton has faced retail crime in the city centre with business owners saying they face threats and abuse from yobs.

Fans of Lidl will now have to travel out of town to the White Rock Way store on the town's southern outskirts.

For those who don't have cars, it would be a difficult trip on the bus to carry all the groceries home.

One said: "The last proper shopping centre in town. Always busy, and the best veg. We will end up like America shopping malls, no town centre. No heart."

Another said: "I think this closure is a big loss to Paignton."

While a third said: "It's so sad. Not everyone has a car to go shopping. I shall miss it. Our town is dying."

Commercial property agent Paul Heather spoke to Devon Live and said locals relied on the Lidl as they could walk to the town centre.

"This shutdown would deprive many of an affordable supermarket option, leaving them with limited choices for grocery shopping in the town centre.

"While Iceland supermarket on Victoria Street may emerge as the primary substitute, it fails to match the diverse product range offered by Lidl”.

The Paignton closure comes after Lidl has pulled down the shutters on several of its supermarkets in the past year, including one in Walsall.

[dutchman]

Job losses likely as The Body Shop lines up administrators



The Body Shop, the skincare and cosmetics retailer founded by the campaigner Anita Roddick in the 1970s, is set to appoint administrators in a move likely to result in lost jobs and shop closures.

The pan-European private equity investor Aurelius bought the company six weeks before Christmas but said trading over the festive period and early January had been weak.

The retail chain, which has more than 200 shops, also did not have enough working capital to continue trading in its current form.

Administrators at FRP Advisory are likely to be appointed as soon as this week to handle an insolvency process, Sky News reported, citing sources who said they expected the closure of a significant number of the stores. The Body Shop’s international businesses have already been sold to an unknown family office, according to Retail Week.

Roddick, an environmental campaigner, activist and entrepreneur, founded the Body Shop in Brighton in 1976. The company remained under her ownership for three decades, until she sold it in 2006. Roddick died the following year.

By then, The Body Shop had become synonymous with its ethical positions, including a refusal to stock products tested on animals and a sourcing of ingredients from natural products that are traded ethically.

Roddick’s decision to sell the business to the French corporation L’Oréal for £652m attracted criticism from those who saw it as a departure from the company’s values.

[dutchman]

Nuneaton's Body Shop store among first in the UK to close today



Nuneaton's Body Shop store is among first in the UK to close after the firm fell into administration. It has been reported that the company has announced that it is closing half of its 200 stores in the UK - seven of them today (February 20).

The Nuneaton store, which is based within the Ropewalk Shopping Centre, is on the list of seven reported by Sky News. It means that the store closes today, leaving its staff without jobs.

The fate of other branches in the area, including Coventry and in Leamington Spa, is not yet known. It is understood that it is not just stores that are set to close as staff numbers at its offices in London and in Sussex are also set to be cut.

It was only last week that the retailer called in administrators, less than two months after being taken over Aurelius. The loss of the store will leave another empty unit in the Ropewalk Shopping Centre.

The former River Island and Monsoon units have yet to be occupied, nor the former home of Cream as well as the top of the old BHS store.