Store Closures
This coverage examines store closure trends within the UK retail sector. Reporting highlights closure driversโsuch as lease negotiations, underperformance, and market shiftsโimpact on regional footfall, staff restructuring, and lease or property plans. Content is tailored for retail directors, operations managers, and property teams managing portfolio optimisation and change strategy.
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May- 2020 -4 MayCoronavirus
Hotel Chocolat: Online sales fail to mitigate effect of store closures
Hotel Chocolat has announced that its boost in online sales has failed to โfully mitigate the total sales loss in the key three-week Easter trading period of 2020. In its latest trading update, the group noted the nationwide lockdown on 23 March has had a โmaterial impact on tradingโ.ย However,…
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Apr- 2020 -14 AprilHigh Street
Matalan owner reportedly seeking ยฃ60m amid store closures
The owner of Matalan, John Hargreaves, is reportedly seeking a cash injection of ยฃ60m to support the fashion retailer through the Covid-19 pandemic, after the group was โforcedโ to close its 232 stores. According to the Mail on Sunday, a statement issued to bondholders claimed the retailer had not faced…
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6 AprilCoronavirus
Temporary store closures due to coronavirus lead to 14% drop in retail jobs
The UK job market has been hit hard by the coronavirus outbreak, with retail jobs dropping by 14% in March, when comparing data with the previous year, according to the latest report from CV-Library. The study, which explores job market data from March 2020 and compares this with figures from…
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Mar- 2020 -27 MarchClothing & Shoes
Jack Wills permanently closes another 17 stores
British fashion brand Jack Wills – which was rescued out of administration by Frasers Group plc in August 2019 – has announced the immediate closure of a further 17 stores, bringing the total number of store closures announced over the last week to 22. Mike Ashleyโs Frasers Group acquired Jack…
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23 MarchHigh Street
H.Samuel announces temporary store closures amid Covid-19 virus outbreak
High street jewellery store H. Samuel has announced the temporary closure of all its stores amid the recent outbreak of the Covid-19 virus. The retailer announced all store closures will take effect from today (Monday 23 March) but its website will be โopen as usual.โ In a statement, the retailer…
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Jan- 2020 -6 JanuaryDepartment Stores
Debenhams announces 19 store closures
Debenhams has announced the closure of 19 of its UK stores, resulting in 660 job losses.ย ย The department store, which entered administration in April last year, launched its CVA in the same month. The closures are due to take place during the next fortnight, with stores closing from 11 January,…
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Sep- 2019 -11 SeptemberHigh Street
Store closures hit record levels in the first half of 2019
The number of stores closing down in the first six months of the year has reached its highest levels, with 2868 closures recorded for the period. An average of 16 stores a day shut their doors, according to research by the Local Data Company (LDC) and accounting firm PwC. The…
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May- 2019 -20 MayDepartment Stores
M&S speeds up store closures
Marks and Spencer has announced it is to speed up its store closure plans by two years, as it looks to close 100 stores by 2020. The announcement comes as chairman Archie Norman and chief executive Steve Rowe prepare to unveil another slump in annual profits on Wednesday, according to…
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Apr- 2019 -4 AprilHealth & Beauty
Boots facing possible store closures
Health and beauty retailer Boots may be forced to close some of its stores after parent company Walgreens Boots Alliance experienced a โdisappointing quarterโ. In its Q2 results, the companyโs international retail pharmacy results showed that sales decreased 1.2% on a constant currency basis, mainly due to a 1.3% decline…
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Mar- 2019 -28 MarchClothing & Shoes
Arcadia ‘draws up list of 67 store closures’
Arcadia has listed 67 stores it wishes to close across all of its brands, the Financial Times has reported. As seen by the publication, stores of varying sizes across the UK and Ireland with a total annual rent of ยฃ11m are set to be shut. These include Burton, Topshop, Evans,…
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