Register to get 1 free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Footwear retailer Clarks has confirmed it is to close a “small number of stores’ following a review of its store estate.
The permanent closures are said to be unrelated to the current coronavirus pandemic, with the stores selected from its 367 strong portfolio already chosen due to having leases set to expire in May.
According to Sky News, Clarks has also recently appointed investment bank Rothschild to help explore potential financing facilities for the retailer.
A Clarks spokesperson said: “Clarks continually reviews all its stores to ensure that they are the right size and located in the right areas in order to provide the best possible service and offering to its customers.
“As part of this normal review, we have decided not to renew the leases on a small number of stores and as such, these will cease to trade and will not reopen following the coronavirus closures.”
They added: “We have a strong duty of care to our employees and are doing everything we can to minimise the impact on colleagues. Given this situation is ongoing, we are not able to comment further.”
In November last year, Clarks revealed it had called in management consulting firm McKinsey & Co to review its business.
At the time a spokesperson told Retail Sector that the company was “unable to share any specific details” of its new strategy, but did confirm that it is “transforming” the brand to “reconnect” with its consumers by designing new products and launching a new brand and marketing strategy.
