
Jarrolds boss assures staff that Cromer store is not closing
Staff at a long-established department store outlet have been assured that another shop closure is not being planned.Jarrolds is closing the book department of its four-floor store in Norwich, citing the struggle to compete with national and online rivals.Jarrolds' Cromer store primarily sells books, however Tim Shattock, the firm's managing director for trading, insisted the coastal shop was "not at risk".It follows the closure of its shop in Wymondham last September - and a move to cut the hours of around 70 staff earlier this year.
Speaking to BBC Radio Norfolk, Mr Shattock said: "I think it comes down to how you work with scale. "We obviously have a large store with large operating costs in Norwich and we also have a multi-department offer."If you're dedicated to books and you're operating either as a large bookseller - as a Waterstones where you've got scale to combat some of the price and availability - or if that's actually the main area of focus, like some of the excellent independent book shops."That's where Cromer exists for us. It leads with books and has a very good book business. It has a very good customer base, with not huge amounts of competition, like Norwich."
'Difficult decision'
The book department of the Norwich store is set to close at the end of August after a sale of existing stock.Mr Shattock did not confirm if any staff would be made redundant but said: "With any business change we have to prioritise any colleagues affected and I know the team at Jarrolds are working with them to manage that."Jarrolds appears to be in a healthy position financially, according to its most recent annual accounts to the end of January 2024.Turnover dipped very slightly to £31.8m but a £6m profit represented a 19.1% gross profit margin. The average number of employees also fell very slightly to 398 from 419 the previous year.Despite the firm's long history as a publisher and a book seller, Mr Shattock admitted the department had faced challenges since the rise of online retailers at the turn of the millennium."We're very proud of our history as a bookseller in Norwich and books as a whole in the company, we're also very thankful to our loyal customers who have been on the journey with us," he said."So I understand that this decision is a difficult one and tricky for some customers to understand."In the department store we operate in a number of different categories and whilst we're seeing some really good growth in some and some really strong demand, this [books] has been a challenging market for us for a number of years."We've managed to nurture the department over the last two decades and managed that decline, it's got to the point where we need to think about the future and make a difficult decision on our portfolio."Mr Shattock said growth could be found in innovative areas, such as the food hall and beauty retreat rooms."We're seeing that innovation in other categories that we're finding very difficult to replicate in books," he said.
Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Finextra
16 minutes ago
- Finextra
British Business Bank to support UK fintech lenders with Avellinia Capital partnership
Avellinia Capital ('AvCap'), a private credit investment firm specialising in asset-based financing and capital solutions, announced today a new partnership with British Business Bank aimed at bolstering funding for UK FinTech lenders and asset originators. 0 Through this collaboration, hundreds of UK smaller businesses are expected to benefit from increased access to finance and a higher supply of working capital. The first recipient of this dedicated funding under the partnership will be Triver, a FinTech lender focused on offering flexible finance options to smaller businesses. This partnership with Avellinia Capital represents the first commitment under a new approach the British Business Bank is taking. By supporting fund managers that back FinTech lenders, the British Business Bank is helping to address a funding gap in the early-stage FinTech lender space. Matthias Dux, Founding Partner at Avellinia Capital, said : We are pleased to partner with British Business Bank, a recognised leader in supporting UK businesses. Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank, said: The British Business Bank has been supporting the FinTech sector since 2013. Whilst the sector is one of the UK's greatest strengths, there are limited institutional funders active in the early-stage FinTech market. By partnering with Avellinia Capital, British Business Bank will be able to support fast-growing FinTech lenders servicing the UK smaller business market by co-investing alongside Avellinia Capital's fund. Julian Schickel, Founding Partner at Avellinia Capital, further highlighted the significant opportunity this partnership creates for UK FinTech, By leveraging British Business Bank's extensive market expertise and AvCap's origination and structuring capabilities, we aim to expand funding solutions for UK FinTech lenders and, in turn, help a wide range of small and medium-sized enterprises access the capital they need to grow. This new funding line underscores Avellinia Capital's strategy of providing asset-based financing and tailored capital solutions, backed by decades of expertise in complex credit markets.


Daily Mail
18 minutes ago
- Daily Mail
Supermarket shelves could be left EMPTY of wine this summer as factory workers at major bottling company plan strike
Supermarket shelves could be left empty of wine this summer, as factory workers at a major bottling company plan a strike. More than 200 workers in Bristol are planning to strike over pay and collective bargaining between June 19 and July 5 - in a move which could leave shoppers scrambling for wine. The Unite members at the Avonmouth site work across different areas, including bottling and packaging red, white, rose and sparkling wine and distributing it from warehouses. Encirc supplies all the major supermarkets with wine, which is the most popular alcoholic drink in the UK. According to Unite, Encirc is a 'very profitable company' with a turnover of over £600M, supplying all the big supermarkets with bottles, boxes and bags of wine. Unite says the firm has only offered its workers a 3.2 per cent pay rise without negotiating with Unite and has repeatedly stated that from now on it will only give pay rises tied to inflation. This means any pay increases will be set by Encirc without negotiations with Unite before being imposed on workers, the union added. Previously, the union said it had been able to negotiate with management on pay. Unite general secretary Sharon Graham said: 'Encirc's meanness to its workers is all about greed and not need. 'This is a very lucrative company that can fully afford to pay its workers properly but it is choosing not to. 'Unite will not stand idly by and allow Encric to steal our members hard won rights. Encirc workers deserve better and they have Unite's full support throughout this dispute.' Strikes will take place between June 19 and July 5, with workers in different parts of the business taking strike action on different dates and times according to production schedules to have the biggest impact. There will also be a 12-week overtime ban as part of the action. Unite regional officer John Sweeney said: 'There is no doubt that this action will hit supermarket shelves. 'While shortages may be frustrating for customers looking to enjoy a bottle of wine this summer, the situation is entirely of Encirc's own making. 'Management has constantly refused to engage meaningfully. Encirc needs to return to the negotiating table with a vastly improved offer.'


The Guardian
26 minutes ago
- The Guardian
The Guardian view on HS2 delays: a chance to break the cycle of costly failure
One day there will be a high-speed rail link between London and Birmingham. Maybe. Not soon. When HS2 was first proposed, an opening date for the first phase was planned for December 2026. After multiple delays and cost overruns, a revised target of 2033 was set. That is no longer realistic, according to Heidi Alexander. The transport secretary told MPs on Wednesday that two more years are likely to be required, blaming the last Conservative government for mismanaging the whole project and wasting billions of pounds in the process. The record is indeed dismal and, while HS2 was originally conceived in the last days of a Labour government, the systemic failure to bring it to fruition has happened under successive Tory prime ministers. Citing the findings of two new reviews into the scheme, Ms Alexander highlighted inadequate ministerial oversight as a consistent problem. Construction contracts were signed that failed to give value for money and, it is alleged, may have enabled fraud. The cost has ballooned while the ambition has shrunk. Originally there was to be a whole high-speed network, extending north from Birmingham to Crewe and branching into the East Midlands. Meanwhile, the budget has soared. In 2012, phase one was forecast to cost £20bn. That rose over the ensuing decade to £57bn and the latest estimates are closer to £100bn. HS2 is a case study not in why the state shouldn't build major infrastructure, but in how it must do so better. Opponents of HS2 – and it has had many from its inception – feel vindicated in having warned that it was a money pit and a folly. These concerns are not trivial – nor should they be casually brushed aside. Infrastructure must serve the future, not scar it. That means designing and delivering projects that respect both nature and people. But the benefit of the new line is not just in getting people to their destination faster but also freeing up capacity on the existing route. Although there is much to regret about the way HS2 has evolved so far, the case for aborting it is flawed, amounting to defence of a plainly inadequate status quo. Laying tracks and digging tunnels is environmentally disruptive, but railways are ultimately a more sustainable way to move volumes of people around than roads. Every precedent from modern transport history says the alternative to HS2 is not more green pasture but more cars. London and Birmingham are not far apart, nor are they separated by vast mountains. High‑speed railways are not an experimental 21st-century technology. Other European countries have networks covering thousands of kilometres. It is embarrassing that the UK has managed just one line, from London to the Channel tunnel, opened in 2007. Ms Alexander is right that the last government mismanaged HS2, but that failure also expressed a deeper malaise in the capacity of the British state to modernise. Pressing ahead with HS2 must mark a turning point: embracing greener construction, tighter cost control and democratic engagement. If lessons are learned, HS2 can still be salvaged and become a model – not a cautionary tale – for public infrastructure.