The closing shop chains thread...

Local, national, international and oddball news stories

Re: The closing shop chains thread...

Postby rebbonk » Tue Feb 04, 2020 1:09 pm

Hundreds of jobs at risk as IKEA reveals plans to shut Coventry store

IKEA UK has revealed plans to close its Coventry store in the summer, a move which puts 352 jobs at risk.

The store, one of 22 IKEA stores in the UK, was built in 2007 in the city centre and was one of the retailer’s earliest examples of testing a new format to meet its customer’s changing needs and expectations.

However, the retailer said that given its location and the size of the land available at the time, the store was built over seven levels, which resulted in a significant impact on the operating costs of the store and the shopping experience for customers.

It added that the changing behaviour of customers in the area who prefer to shop in retail parks and online has resulted in visitor numbers being substantially lower than expected and continuing to decrease over time.

“These factors have led to the store making consistent losses,” the company said.

IKEA said it has tried a number of initiatives over the years to drive sales growth and make the store more cost efficient, such as moving various business operations to the site, however these have not resolved the fundamental challenges connected to the location and the format of the store.

“IKEA has also looked at options for downsizing or reconfiguring the store, but the nature of the site means this is not a realistic option,” it said.

IKEA will now enter a period of consultation with the 352 staff affected by the closure to discuss the proposals and next steps.

The retailer said it has the ambition to retain as many people as possible within IKEA and, where this isn’t possible, support them to find new employment.

Marsha Smith, area manager IKEA UK and Ireland, said: “As we go through this process, our priority is to support our co-workers in the Coventry store. Our ambition is to retain as many people as possible within IKEA, and where this isn’t possible, support them to find new employment. We will work closely with our co-workers, impacted suppliers, unions and other trusted partners to ensure all our co-workers receive all the support they need.

“We feel privileged to have been part of the community for the last 12 years and I would like to thank our co-workers, customers and partners, who have contributed throughout this time.”

During the consultation period, the Coventry store will remain open, before the proposed store closure in summer.


Source: https://www.thebusinessdesk.com/westmidlands/news/2037860-hundreds-of-jobs-at-risk-as-ikea-reveals-plans-to-shut-coventry-store?utm_source=newsletter&utm_medium=email&utm_campaign=WestMidlands_4th_Feb_2020_Breaking
User avatar
rebbonk
 
Posts: 49866
Joined: Thu Nov 12, 2009 7:01 am

Re: The closing shop chains thread...

Postby dutchman » Tue Feb 04, 2020 4:15 pm

As someone who suffered more than most when the Co-Op foodhall closed to make way for IKEA, I can't say I'll be all that sorry to see it go. :roll:
User avatar
dutchman
Site Admin
 
Posts: 35162
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: The closing shop chains thread...

Postby Melisandre » Tue Feb 04, 2020 7:02 pm

Let's hope they build some thing fitting in place for the area not another monstrosity no doubt it will be like the rest ugly student flats.
User avatar
Melisandre
 
Posts: 11629
Joined: Fri Oct 16, 2015 8:52 am

Re: The closing shop chains thread...

Postby dutchman » Mon Feb 17, 2020 7:21 pm

Shoe Zone: Retailer warns 100 shops could close

Image

Shoe Zone has warned that it could be forced to close a fifth of its stores if business rates do not change.

The retailer will close 100 of its UK stores unless the property tax is overhauled.

Boss Anthony Smith told the BBC: "If people want vibrant High Streets, they really do need retailers like us to keep our shops open in smaller towns."

Retailers have called on HM Treasury to reform business rates in the Budget scheduled for next month.

Business rates are similar to council tax for business properties. They are paid by businesses, or landlords if a property is empty.

Mr Smith told Wake Up to Money that although rents had fallen across its 500 shops, the amount it pays in business rates had increased from 26% to 54% over the last 10 years.

Mr Smith said: "There is a lot of talk about the regeneration and repurposing of town centres, which we are all up for. But whatever goes into those shops, the rateable value is still simply too high."

The rateable value is set by the government's Valuation Office Agency. It determines how much a firm has to pay in business rates, based on the value of the property.

He added: "It's a simple maths question. Every time a lease comes up, we'll look at the mathematics of it. If we are not making any money out of it... the shop will unfortunately close."

In 2019, the firm's former chief executive Nick Davis stepped down, warning that profits would be lower than expected.

Anthony Smith was previously chief executive of the brand for 20 years, and last year took the role on again.

He told the BBC that the firm is closing about 20 stores each year, but pointed out that sales online and in out-of-town areas were "going well".

:bbc_news:
User avatar
dutchman
Site Admin
 
Posts: 35162
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: The closing shop chains thread...

Postby dutchman » Tue Feb 18, 2020 12:21 am

Waterstones respond to Nuneaton closure rumours

Image

Waterstones bosses have responded to fears about the future of its store in Nuneaton town centre.

A 'To Let' sign has been spotted at the front of the store in Queens Road.

This has prompted concerns on social media that the town could be losing another big name.

CoventryLive contacted Waterstones for a comment in regards to the local store.

In a statement the firm explained that the lease is coming to an end - but they hope to renegotiate a new one.

“The lease to our Nuneaton shop comes to an end shortly," the statement reads.

"We have yet to agree new terms with the landlord who in the meantime is marketing the shop.

"We would prefer to reach sensible terms with the landlord and remain, as is our experience in most such cases.”

On Saturday (February 15), the doors closed on another store just yards away from Waterstones - Game.

The store tweeted on Thursday that, due to 'circumstances beyond our control' it was having to close on Saturday.

CoventryLive has contacted the national firm.

Only a few weeks ago, HMV closed its doors in the Ropewalk Shopping Centre.

Image
User avatar
dutchman
Site Admin
 
Posts: 35162
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: The closing shop chains thread...

Postby rebbonk » Wed Mar 04, 2020 10:36 pm

Not a shop but I was just reading that FlyBe could cease trading before the end of the month without government assistance and this popped up...

'Has FlyBe just ceased operating in front of my eyes?' Passengers are turned away and flights cancelled with 'planes impounded at airport' - but ailing airline blames 'miscommunication'


Source: https://www.dailymail.co.uk/news/article-8075693/Flybe-planes-impounded-UK-airports-amid-fears-ailing-airline-collapsed.html

Shades of the 'premature' demise of Rover?
User avatar
rebbonk
 
Posts: 49866
Joined: Thu Nov 12, 2009 7:01 am

Re: The closing shop chains thread...

Postby dutchman » Wed Mar 04, 2020 11:34 pm

Makes you wonder how many more firms are going to blame the Coronavirus for going bust? :roll:
User avatar
dutchman
Site Admin
 
Posts: 35162
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: The closing shop chains thread...

Postby rebbonk » Thu Mar 05, 2020 3:07 am

It's a convenient excuse :fuming:
User avatar
rebbonk
 
Posts: 49866
Joined: Thu Nov 12, 2009 7:01 am

Re: The closing shop chains thread...

Postby dutchman » Thu Mar 12, 2020 1:02 am

Bedworth shop to close at end of week

Image

A Bedworth travel agents is closing down.

Bosses at TUI - formerly Thomson - have confirmed that the All Saints Square-based store is closing this week.

It means those looking to book a break away in the town will have to travel to what will become their nearest branch in Nuneaton.

The store will close its doors for good on Friday (March 13).

In a statement provided to CoventryLive, a spokesman said: "We can confirm that TUI’s Bedworth store will be closing on 13th March 2020 and we would like to thank our retail colleagues for all their hard work.

"We’re always looking for opportunities to become more effective and efficient.

"This is a continual process to ensure we’re evolving our business and ensure our stores are in the right places and we’ll continue to open, close and relocate stores.

"Local customers will still be able to visit our store just a few miles away in Nuneaton."

Image
User avatar
dutchman
Site Admin
 
Posts: 35162
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: The closing shop chains thread...

Postby rebbonk » Tue Mar 17, 2020 7:10 pm

Carphone warehouse has announced closure and Laura Ashley are entering administration
User avatar
rebbonk
 
Posts: 49866
Joined: Thu Nov 12, 2009 7:01 am

PreviousNext

Return to News

Who is online

Users browsing this forum: Google [Bot] and 3 guests

  • Ads