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Re: The closing shop chains thread...

PostPosted: Sun Feb 21, 2021 7:04 pm
by dutchman
John Lewis to close more stores

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The John Lewis Partnership is preparing to close another raft of department stores as chairwoman Dame Sharon White takes more drastic measures to slash costs.

Up to eight John Lewis stores could be shut permanently, with the chain’s bigger, older shops thought to be most at risk. The final number of closures is yet to be determined as it is subject to negotiations with landlords. In some instances John Lewis may close a store but relocate to a smaller property nearby.

The plan marks another traumatic development for the partnership as it battles to shore up its stretched finances. John Lewis announced eight store closures last July, eliminating 1,300 roles, and is in the process of cutting a further 1,500 jobs at head office. The July closures included its Birmingham flagship in the Grand Central centre, opened in 2015 by former managing director Andy Street, now West Midlands mayor.

John Lewis currently has 42 stores. An announcement on the latest cull, which could shrink the estate to as few as 34 shops, is expected before, or alongside, the mutual’s annual results on March 11. John Lewis declined to comment.

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Re: The closing shop chains thread...

PostPosted: Fri Mar 05, 2021 8:33 pm
by dutchman
Frasers Group warns of store closures after 'near worthless' budget support

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Frasers Group, the retailer controlled by the Sports Direct founder Mike Ashley, has said it will be forced to close stores and cut jobs after a “near worthless” support package on business rates in the budget.

The group, which includes Sports Direct, House of Fraser, Flannels and Evans Cycles, said retailers needed a complete overhaul of the business rates model for the high street to survive.

“The £2m rates cap on ‘businesses’ from July 2021 to March 2022 makes it a near worthless support package for large retailers,” the group said in a statement. “For Frasers Group, this cap will make it nearly impossible to take on ex-Debenhams sites with the inherent jobs created. It will also mean we need to review our entire portfolio to ascertain stores that are unviable due to unrealistic business rates.”

Frasers Group said the retail industry had expected Rishi Sunak’s budget on Wednesday to offer “suitable relief until structural reform is implemented”.

It added: “Frasers Group believes that retailers should pay the fair amount of rates in line with realistic rateable values but instead we continue to have an unwieldy, overly complex and out-of-date business rates regime.”

Only the group’s Evans Cycles bike chain, which is classed as an essential retailer, has been able to trade throughout the high street lockdowns, while the sportswear retailer Sports Direct, the fast-growing designer fashion concept Flannels and the struggling House of Fraser department store chain have been affected by government efforts to control the spread of Covid-19.

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Re: The closing shop chains thread...

PostPosted: Sun Mar 14, 2021 9:01 pm
by dutchman
Great Britain's high streets lost more than 17,500 chain store outlets in 2020

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More than 17,500 chain store outlets disappeared from high streets, shopping centres and retail parks across Great Britain last year as the Covid-19 pandemic spurred the worst decline on record.

An average of 48 shops, restaurants and other leisure and hospitality venues closed permanently every day across England, Wales and Scotland, and only 21 opened, according to the figures compiled by the Local Data Company (LDC), a research provider, for the accountancy firm PwC.

With non-essential shops forced to close during lockdown and a boom in online shopping, as many as 17,532 outlets shut their doors for the last time in 2020. Only 7,655 chain stores were opened. The resulting net closure of 9,877 stores was almost a third higher than in 2019, according to research from almost 3,500 locations, which excludes independent retail outlets and other venues.

The stark figures come before the true impact of the pandemic on Great Britain’s high streets becomes apparent. Many outlets included in the research were temporarily closed during lockdowns and were not counted as shut but may never reopen after restrictions are relaxed this spring.

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Re: The closing shop chains thread...

PostPosted: Mon Mar 15, 2021 7:14 pm
by dutchman
Thorntons to close all UK stores - blaming impact of lockdown on the decision

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Thorntons has announced plans to close all of its 61 stores, with over 600 staff members at risk of losing their jobs.

The much-loved chain, which has an outlet in Coventry's West Orchards shopping centre, has blamed the impact of lockdown on the 'difficult' move.

However, bosses hope to grow their online customers and remained committed to their 'iconic brand'.

A spokesperson said: "Like many companies, we have been operating for a long time in a tough and challenging retail environment.

"We have been committed to transforming and growing a successful Thorntons retail estate; this has included significant investments to open new format stores and cafes and ensuring we had stores in the right locations.

"However, changing dynamics of the high street, shifting customer behaviour to online, the ongoing impact of Covid-19 and the numerous lockdown restrictions over the last year - especially during our key trading periods at Easter and Christmas - has meant we have been operating in the most challenging circumstances.

"Unfortunately like many other retailers, the obstacles we have faced and will continue to face on the high street are too severe.

"Despite our best efforts we have taken the difficult decision to go into full consultation to start the permanent closure of our retail store estate. We understand that this will be an uncertain and concerning time for our colleagues and we will actively support them during this period.

"As customers continue to change the way they shop, we must change with them. We have seen a strong growth in Thorntons.co.uk and this will remain a key focus for us in continuing to provide you with your favourite Thorntons ranges, including our unique personalisation offering. In addition, we continue to invest in building our brand in grocery channels with our partners in order to meet the demand from you, our loyal customers.

"We remain committed to our iconic Thorntons brand and will continue to invest further in the future potential to ensure we evolve with the times."

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Re: The closing shop chains thread...

PostPosted: Mon Mar 15, 2021 8:28 pm
by rebbonk
I didn't see that one coming!

Re: The closing shop chains thread...

PostPosted: Thu Mar 25, 2021 4:44 pm
by dutchman
Santander to axe more than 100 high street branches

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Santander has announced it is set to close 111 of its high street branches in the UK as part of a major shake-up at the Spanish bank.

The bank has revealed all 111 outlets earmarked for closure will shut their doors by the end of August.

In choosing the branches it plans to close Santander said that all are less than three miles from another branch.

No branches in Coventry, Warwickshire or Solihull are affected but there are closures in Hinckley, Leicester and Birmingham.

Santander has included one branch in Hinckley (Castle Street), two in Leicester and two in Birmingham in the list.

Santander will retain a network of 452 branches following the proposed changes a statement said.

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The big purge is coming!

Re: The closing shop chains thread...

PostPosted: Thu Mar 25, 2021 6:11 pm
by rebbonk
dutchman wrote:The big purge is coming!


Very shortly we will have no excuse to leave our homes, except to be good little worker drones.

Re: The closing shop chains thread...

PostPosted: Tue Apr 27, 2021 3:55 pm
by dutchman
Debenhams announces when Nuneaton store will officially close for good

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Debenhams has announced when Nuneaton's store will officially close for good - and it is just over two weeks away.

The firm has announced a list of 25 stores closing on May 8 and the Nuneaton town centre branch is on it.

Debenhams’ remaining 45 stores are expected to close on or before 15 May.

To mark the closures, from tomorrow (April 28) there will be 80 per cent off fashion and home and at least 50 per cent off everything across the store, including beauty and fragrance.

A spokesperson for Debenhams said: “Our stock is flying off the shelves and it’s no surprise with such great bargains available. Time is running out for shoppers to take advantage of the incredible discounts being offered at these 25 stores.”

The closure of the Nuneaton store brings to an end an almost 50-year retail rein in the town centre.

The town was devastated when the news broke that the store, which had been based in the prominent building in Bridge Street for the past 48 years, was due to close.

Generations in Nuneaton mourned the loss of Debenhams, which took over from what was then the J.C Smiths building in 1972.

It had been a go-to place for generations of people from not just across Nuneaton but much further afield.

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Re: The closing shop chains thread...

PostPosted: Thu May 06, 2021 4:41 pm
by dutchman
Debenhams announces when Coventry store will close for good

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Debenhams has announced when its last department stores - including the one in Coventry - will close for the final time.

The Coventry Debenhams store in the West Orchards shopping centre reopened on April 12, along with other non-essential retailers, with the store announcing a closing-down sale.

Some Debenhams stores, including the one in Nuneaton, will close this Saturday (May 8) in a move that was previously announced.

It has now been revealed others are to close on Wednesday, May 12, with the final stores closing on Saturday May 15.

Coventry is among the final stores that will shut-up shop on May 15.

The group had already confirmed that 52 of its remaining 101 stores, including Nuneaton, would shut on Saturday, May 8.

It has now said the remaining 49 stores will shut for good on May 12 and May 15 following its liquidation.

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Department stores were an outdated concept before the one in Coventry was even built! :roll:

Re: The closing shop chains thread...

PostPosted: Wed May 26, 2021 11:00 am
by dutchman
Marks & Spencer to step up store closures after £201.2m loss

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Marks & Spencer is to step up store closures after diving £201.2m into the red after clothing and homeware sales slid by almost a third during the high street lockdowns.

Food sales rose by 1.3% at established stores in the year to 3 April as M&S missed out on the shift to online groceries for most of the year until it launched a delivery service with specialist Ocado in September.

The company said it planned to increase its capacity to sell groceries online by 50% as its products now made up more than a quarter of the average order on Ocado.

The group increased online sales of clothing and homewares by almost 54% but that was not enough to offset the 56% slump in sales on the high street, where most stores were unable to fully operate as part of efforts to control the spread of Covid-19.

The group’s full-year pre-tax loss of £201.2m compared with a profit of £67.2m a year before.

Steve Rowe, the chief executive, said M&S would be accelerate its plan to close outdated stores to build a chain of 180 main sites around the country, down from 254 at present. The retailer said it would permanently move out of about 30 locations, and a further 110 large stores would become food-only, or several stores would be combined into one. Some sites will be redeveloped into homes.

M&S has already closed 59 full-line stores, 16 food stores and eight discount outlets. It has previously said it would close just over 100 stores.

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