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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Jan- 2019 -15 JanuaryHigh Street
M&S store closures to affect 1,045 jobs
Marks and Spencer has confirmed 17 stores which are set to close within its plans to shutter over 100 stores to โreshapeโ its estate and become more relevant to customers. These closures are expected to affect 1,045 jobs and the retailer said it will enter a period of consultation with…
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Dec- 2018 -12 DecemberClothing & Shoes
Superdry mulls store closures as profits drop 49%
Fashion retailer and brand Superdry has issued a profit warning after pre tax profits fell 49% to ยฃ12.9m in the 26 weeks to 27 October 2018. Group revenue was up 3.1% to ยฃ414.6m in FH19 compared with ยฃ402m in the first half of 2018. With regards to its outlook the…
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Nov- 2018 -13 NovemberDepartment Stores
House of Fraser could see โsignificantโ number of further store closures
House of Fraser is set for a โsignificantโ number of further store closures after landlords reportedly refused to agree to owner Mike Ashleyโs new leasing terms. According to the Sunday Times, the Sports Direct boss met with agents at retail estate agency CBRE last week to discuss the stores to…
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9 NovemberHigh Street
Gap between retail closures and openings continue to widen, says PwC
A combination of growth in online shopping, shift to in-home leisure, heightened restructuring activity and ongoing digitisation of services has seen the half-year net reduction in stores on Britainโs high streets reach record levels, according to PwC. According to research compiled for PwC by the Local Data Company (LDC) a…
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Sep- 2018 -21 SeptemberClothing & Shoes
House of Fraser decline leads to French Connection store closures
French Connection has announced it will be shuttering more of its stores following the closure of two under-performing branches in the last six months. The fashion retailer blamed the decline of House of Fraser and poor high street footfall on the fresh closures, and lost ยฃ15m in the six months…
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Aug- 2018 -24 AugustClothing & Shoes
Victoriaโs Secret plans 20 store closures
Victoriaโs Secret has announced plans to close 20 stores, the retailer has already closed six North American stores and has announced it intends to close 14 more stores in undisclosed locations. When asked if closures would affect UK stores by Retail Sector, the company failed to provide a response. The…
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6 AugustDepartment Stores
House of Fraser able to proceed with store closures after legal row ends
House of Fraser has settled its legal row with landlords meaning it can proceed with plans to close 31 of its 59 stores. Landlords had previously argued that slashing rents to support the department storeโs rescue plan was unfair. The department store said it was “focused on concluding discussions with…
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Jul- 2018 -19 JulyHigh Street
Store closures lead to slump in demand for retail space
New research has found that 70% of chartered surveyors in London saw a notable slump in demand for retail space over the last quarter, in light of recent closures by Poundworld and M&S. The research by the Royal Institution of Chartered Surveyors (RICS) said that demand for retail space is…
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12 JulyHigh Street
Usdaw calls for โproperโ staff representation amid M&S store closures threat
Shopworkers’ trade union Usdaw has renewed its call for recognition as the union for M&S staff, after the companyโs chairman โrefused to rule out further store closures and job lossesโ. ย ย ย ย ย ย The group urged M&S management to abandon its โlong-held resistanceโ to allowing Usdaw to represent the staff, and…
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11 JulyDepartment Stores
M&S warns of further store closures and job cuts
M&S bosses have warned of further store closures and job cuts in meetings at the companyโs AGM, which took place yesterday (11 June). The department store chainโs chairman, Archie Norman, told shareholders: โI canโt tell you it wonโt be the lastโ, when speaking about the recent closures at the department…
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