The closing shop chains thread...

[dutchman]

Coventry Poundland to close as part of major restructuring plans



A Coventry Poundland will soon be closing its doors for good. Bosses recently announced a major restructuring initiative affecting stores across the UK.

Pep&Co on Hertford Street, which is owned by Poundland, will be shutting its doors on August 24. Staff at the city centre-based retailer were reportedly informed in June.

Poundland announced that it would be examining recovery strategies after encountering financial difficulties under Pepco. It was recently sold to American investment company Gordon Brothers for just £1.

More than 1,000 jobs are at risk at Poundland following the announcement of plans to shut 68 shops and two UK warehouses after its acquisition by Gordon Brothers in June. As part of a wider strategy, they will be reducing the number of UK stores from around 800 to 650.

Three Poundland stores have already shut down as part of the downsizing strategy, including one in Swiss Cottage, which closed in April 2024. Stores in Newcastle, Peterborough, Salford, and Canterbury will be closing in August.

Retail Director Darren MacDonald said: “While our anticipated network of around 650 to 700 stores remains sizeable, it is, of course, sincerely regrettable that we are closing a number of stores to allow us to get back on track.”

He added: “We entirely understand how disappointing it will be for customers when a store nearby closes, but we look forward to continuing to welcome them to one of our other locations. Work is underway with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles.”

Not really a 'Poundland' is it?

[dutchman]

'Stock clearance' signs appear at 'at-risk' Nuneaton town centre store



'Stock clearance' signs have appeared at an 'at-risk' store in Nuneaton town centre. They are in the windows of the Bodycare store in Queens Road.

CoventryLive has been told that local shoppers have been told that the shop is at risk of closure. Only last week, it was reported by Sky News that Bodycare, which employs 1,500 people, could fall into administration.

BirminghamLive reported that the company was working with advisory firm Interpath. It was said that Bodycare owners Baaj Capital were striving to secure a rescue deal.

The uncertainty surrounding the Queens Road-based store comes as another has opened its doors nearby. Mexican chain Plan Burrito has opened its first Nuneaton branch in what was the old Claire's Accessories store.

The RSPCA has also made its return to the town centre after four years. The charity will be moving into the corner unit on Stratford Street and Abbey Street, which once played home to the Myton Hospice Shop.

In the Ropewalk Shopping Centre, the former H&M unit has been taken over by the Mary Ann Evans Hospice. The new 'Mary Ann's Market place' has led to the closure of the charity's two other stores in the town centre, in Harefield Road and the Home Store on Weddington Terrace.

[dutchman]

High street name with branches in Coventry and Nuneaton on brink of administration



A beauty chain with branches in Coventry and Nuneaton is on the brink of administration. Reports have emerged that Bodycare, which has 149 stores across the UK, is on the verge of calling in administrators.

BirminghamLive has reported that 1,500 jobs at risk, including those at the branches in the West Orchards Shopping Centre in Coventry and also in Queens Road, Nuneaton. Only earlier this week, CoventryLive reported that 'stock clearance' signs had emerged in the windows of the Nuneaton branch.

Administrators from Interpath Advisory are expected to be appointed as soon as Friday, according to Sky News. Interpath is understood to be exploring options for the business.

It is on many high streets across the country after founded in 1970 on a Lancashire market stall by Graham and Margaret Blackledge. Since 2021, the business has been owned by Baaj Capital.

According to Sky News reports, Bodycare recently secured a £7million debt facility against its retail inventory. This is a formal agreement where a lender providers a specific amount of money to a borrower over a set period.

[dutchman]

Name involved in talks for Nuneaton's former Woolworths revealed



Talks are ongoing for a new tenant to take over Nuneaton's former Woolworths store. CoventryLive can reveal that the borough council is in discussion with King Edward VI College over 22 Queens Road.

The college, known locally as KEGS, already has the unit above the old Woolworths, which has an entrance from the Ropewalk. This is used as a centre of excellence for the Creative Arts and Tech Ed, as well as a Higher Education Centre for Nuneaton.

Now it has emerged that it could also take over the ground floor, which was once Woolworths as well as TJ Hughes and Poundland.

A council spokesperson said in a statement: "The borough council continues to work closely with KEGS to ensure that the 22 Queens Road building in Nuneaton is brought fully back into use."

Wilko was due to move Church Street into the old Woolworth store and a lease had been signed but then Wilko collapsed.

The KEGS news comes as North Warwickshire and South Leicestershire College is also creating a 'Digital Skills and Innovation Centre' and training restaurant in part of the remaining Co-op building in Abbey Street.

[dutchman]

Two Coventry Claire's Accessories to close down with sales now on



Two Claire's Accessories stores in Coventry will soon be closing for good. Sales reportedly have started over the weekend.

Administrators agreed to sell 156 stores to investment group Modella Capital, saving around 1,000 jobs. But 145 UK branches, including those at West Orchards Shopping Centre and Broadgate House, are set to close permanently in mid-November.

Items at the two Coventry Claires were slashed by 20 per cent this weekend. Out of the 145 branches closing, 115 are in the UK, with the others based in Ireland and the Channel Islands.

Closure dates are yet to be announced, and the number of staff impacted has yet to be confirmed. It follows Claires filing for bankruptcy in the US, citing struggles related to the decline of foot traffic to physical stores.

Administrators at Interpath stated that the majority of Claires UK assets have been acquired by Modella, which purchased WHSmith outlets earlier this year and rebranded them as TGJones. At the time of writing, Claire's at Arena Shopping Park remains unaffected.

Natasha Harbinson, Managing Director at Interpath, said: “We are pleased to confirm a sale of the majority of Claires UK business and assets, which will ensure this popular brand will continue to trade on high streets up and down the UK.”

[dutchman]

Two Coventry Pizza Hut branches closing as 68 restaurants to shut across UK



Two hugely busy Coventry Pizza Hut branches have closed. It comes after the company behind its UK operations fell into administration on Monday (October 20).

Administrators announced the locations of 68 restaurants that will be shutting as part of a major restructuring. Eleven delivery-only sites will also be closing, with 1,210 employees at risk of losing their jobs.

Pizza Hut on Austin Drive in Courthouse Green and Vanguard Avenue have permanently closed. Chains in Rugby and Stratford will also be shutting, but the Gielgud Way eatery remains open at the time of writing.

Administrators were appointed to DC London Pie Limited, which operates UK Pizza Hut restaurants on Monday, while the global owner, Yum! Brands stepped in to save the remaining 64 restaurants and more than 1,200 jobs.

Yum! Brands still owns and operates 343 Pizza Hut delivery outlets across the UK. But 1,210 people will be laid off as 68 restaurants in places including Brighton, Hull, Bristol, Leeds, and Edinburgh will be closing.

DC London Pie was established after Directional Capital, which ran Pizza Hut franchises in Sweden and Denmark, acquired 139 outlets from the former UK franchisee Heart with Smart Limited. After the firm collapsed in January, it was found to owe nearly £40m to investor Pricoa Capital.

https://www.coventrytelegraph.net/news/coventry-news/two-coventry-pizza-hut-branches-32730313