November will see more retailers pulling down the shutters following a tough few years for city and town centres.
Shoppers have faced a swathe of closures on their local high streets in recent years as many of their favourite chains shutter sites.
It’s been a tough few years on the high street as retailers pull down the shutters[/caption]
The cost-of-living crisis has meant households have less money in their pockets and so are cutting back on their spending.
As a result, high street shops have seen lower footfall and less money landing in the tills.
That, along with ongoing restructuring plans and high rents, have forced many chains to close locations.
Figures from the Centre for Retail Research revealed almost 10,500 UK shops closed for the final time in 2023.
The 12-month period also saw over 119,000 jobs lost across the sector.
According to the centre’s data, 1,846 stores closed and 23,982 retail jobs were lost during the first six months of 2024.
This month will be no different, with Co-op, Decathlon and Wetherspoon among those closing sites.
Of course, it’s not all bad news. In some cases branches will be replaced with bigger and better shops.
Retailers regularly open and close shops for a number of reasons – not just because they are struggling.
For example, they may have a store nearby that is performing better or it may be because they want to pick a spot that has higher footfall, such as in a retail park.
Wetherspoons
JD Wetherspoon will close its Foot of the Walk bar in Leith, Edinburgh, on November 3.
Confirming the upcoming closure a spokesperson for Wetherspoon said: “We would like to thank our staff and customers for their loyalty to the pub over many years.
“Wetherspoon does, on occasion, sell pubs, and this is the situation here.”
Locals had made an attempt to save the pub launching a Change.org petition in January, which gained more than 300 signatures.
Wetherspoon regularly reviews its estate, closing underperforming premises while also pursuing new openings.
In October Wetherspoon confirmed it has closed 26 pubs for good since July 2023, with five more at risk.
The pub giant, which has around 800 pubs across the UK, also continues to draw crowds with ambitions openings.
A huge new £3.5million pub opened in the countryside town of Marlow, in Buckinghamshire, on September 24.
Plus, Wetherspoon opened its first pub at a holiday park in Filey this March.
Decathlon
Decathlon is set to shut the doors on its shop in Forge Retail Park in Telford, Shropshire on November 3.
The French sporting goods retailer, which has operated at the shopping centre since 2018, said the closure was part of a “brand refresh” and a “broader review” of its store network.
The company also said that staff members were being supported to continue working at the company “where possible”.
Telford residents have already seen a number of store closures this year including the Body Shop and Carpetright.
Co-Op
A Co-Op store in Meadows, Nottingham, is set to close its doors on November 16 after 50 years in the Bridgeway Shopping Centre.
A spokesperson for Co-op confirmed the closure saying: “Co-op regularly reviews its stores. In addition to opening new stores we sometimes, and only after careful consideration, have to take the difficult decision to close a store.”
The supermarket chain confirmed that its lease on the site had been expiring and it had taken the decision not to renew.
Other closures from the Co-op brand include a branch in Highcliffe-on-Sea, Dorset, which closed its doors for the final time on September 14.
Affiliated chain East-of-England Co-op also bid farewell to a site in Cauldwell Hall Road, Ipswich, which ceased trading on August 31.
A statement from East-of-England Co-op read: “Our business is going through a portfolio reshape, opening new stores and refurbishing existing ones, as well as consolidating and closing some locations.”
East of England’s Co-op is independent of Co-op and has 73 branches across Essex, Suffolk, Norfolk and Cambridgeshire.
Stores opening in November 2024
Toys R Us
The iconic 90s toys retailer is to rapidly launch 23 new shops following the successful opening of dozens in the last year.
The stores will all be open by Christmas, with the first welcoming customers at the end of last month.
See a full list of locations here.
Mountain Warehouse
The outdoor clothes retailer has revealed it will open 50 new stores in the UK.
The brand has already opened 20 new stores in the UK in the past six months – and now plans to expand to new locations, including at retail parks.
The exact list of locations where Mountain Warehouse will be opening is yet to be revealed.
Marks & Spencer
Marks & Spencer has confirmed it will close a popular branch in Queensway, Crawley, on November 16.
Graham Bennett, M&S regional manager, said: “After consulting with our colleagues following our proposals earlier this year, our Queensway store will close on Saturday, November 16.
“Individual conversations are continuing with our colleagues and wherever possible, we will be offering them alternative roles with M&S.”
Mr Bennett said the closure was due to “changing shopping patterns” – but added that the business is looking to invest in a new location within the city centre.
M&S has undertaken a 10-year restructuring plan that has seen the closure of dozens of underperforming sites.
A site in Murraygate Dundee closed on July 6, with staff moving to a new superstore at Gallagher Retail Park on July 16.
An M&S store in the Belfry Shopping Centre, Redhill, Surrey, was also closed on August 17.
The retailer which runs 405 stores across the country, also shut down locations in Manchester, Swindon and Birmingham between August and November last year.
The chain has also been refreshing stores and has pledged to open 104 new “bigger and fresher” food stores.
M&S has previously said that it was focused on moving out of tired stores on high streets with low footfall in favour of relocating to retail parks, which continue to prove popular with shoppers.
House of Fraser
House of Fraser is pulling down the shutters on a site in Bluewater, Kent, on November 27.
The department store has operated out of a large unit, which occupies two floors of the shopping centre, for 25 years.
House of Fraser was saved from collapse by billionaire businessman Mike Ashley back in 2018.
But while the deal saved the chain’s 59 stores and 17,000 workers many branches have closed in recent years and only 28 department stores remain.
In autumn 2023, Frasers group chief executive, Michael Murray, described House of Fraser as a “broken business” and said it is likely to “diminish” as it moved away from the department store model.
A string of shops shut in 2023, including in Birmingham, Cardiff and Guildford.
Homebase
Homebase has confirmed that two branches will close their doors for good in November.
The DIY chain will shortly bring the shutters down on its stores in Marsh Mills Retail Park in Plymouth and Southam Road in Banbury.
Homebase has not confirmed the exact dates of the closures, which are the latest in a major consolidation of sites from the retailer.
Homebase has closed 93 stores since it was taken over by Hilco Capital in 2018.
Hilco bought the hardware store chain for £1 from Australian firm Wesfarmers, which had paid £340million for the brand.
A further 10 Homebase stores are set to close in the next two months after Sainsbury’s agreed to acquire them from the DIY chain in August.
Once all stores are closed, Sainsbury’s will convert the units into new supermarkets.
There have been reports that Hilco Capital is looking to sell the company.
It is believed to have started a formal sale process after being approached by The Range.
Other retailers that have previously shown an interest in Homebase include B&M, the London-listed discount retailer.
Homebase currently operates around 144 locations across the UK.
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.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
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