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Daily Record
10-05-2025
- Business
- Daily Record
High street chain Select shuts another store after closing 35 earlier this year
The reason for the closure of the site has not been confirmed A well-known high street fashion retailer, Select, has announced the closure of its Grantham store, set to shut its doors for the final time on May 10. The budget fashion chain broke the news to customers via a heartfelt message on the branch's Facebook page, stating: "It is with a heavy heart that we tell all our lovely customers that our store will be closing. "As far as we are aware our last trading day is May 10. I just want to take a minute to say thank you for all your support over the years." The announcement has sparked disappointment among locals, with one commenting: "We will soon have no clothing stores left in Grantham." Earlier in the year, Select had to close 35 of its 83 UK outlets, affecting around 40 employees. Following this, the company entered liquidation in April. Subsequently, Essence Fashion Limited took over the brand and 48 stores, including the Grantham location, reports the Mirror. Essence Fashion Limited was granted the rights to run the business under the Select Fashion name for six months, with an option to buy the company's assets later on. While the specific reason behind the Grantham store's closure remains unconfirmed, it's essential to recognise that store closures can happen for various reasons and do not necessarily indicate a company is struggling. Some outlets close when their tenancy expires or if they're not as profitable as other branches. Essence Fashion Limited has yet to provide an update on Select since its acquisition last month. Select Fashion, known for its women's clothing, accessories, and footwear, made its debut on the UK fashion scene in the 1980s. The brand faced administration in 2019, citing "tough" high street conditions, which threatened 1,800 jobs and 169 stores. It was subsequently rescued by Genus UK Limited, which also entered administration in 2022. Turkish businessman Cafer Mahiroglu later took ownership of the chain. By 2024, Select operated approximately 100 stores across the country but encountered financial difficulties in the summer, leading to a Company Voluntary Arrangement (CVA). A CVA is a mechanism that allows a company to settle its debts over time while continuing to operate, often involving negotiations for lower rent with landlords. Join the Daily Record WhatsApp community!
Daily Mirror
10-05-2025
- Business
- Daily Mirror
High street fashion chain shuts another store after closing 35 earlier this year
The announcement of the move came in the form of a post on the branch's Facebook page. The post read: "It is with a heavy heart that we tell all our lovely customers that our store will be closing" A popular high street fashion chain is closing another one of its stores for good today. The budget fashion retailer Select announced that its branch in Grantham would be closing on May 10. The announcement of the move came in the form of a post on the branch's Facebook page. The post read: "It is with a heavy heart that we tell all our lovely customers that our store will be closing. "As far as we are aware our last trading day is May 10. I just want to take a minute to say thank you for all your support over the years." Locals took to the comments to share their frustration, with one saying: "We will soon have no clothing stores left in Grantham." Earlier this year, Select closed 35 of its 83 UK stores, which impacted 40 staff members. The retailer then went into liquidation in April and the chain's brand and 48 stores - including the Grantham site - were then taken over by Essence Fashion Limited. The agreement gave Essence Fashion Limited permission to operate and manage the business under the Select Fashion name for a period of six months, with an option to acquire the company's assets. The reason for the closure of the site has not been confirmed. However, it is important to note that retailers close stores for a variety of reasons, and it doesn't just mean they are in trouble. Some close because the tenancy has come to an end on the site, or because the branch is not as profitable as others. Essence Fashion Limited has not issued an update on Select since taking over last month. Select Fashion - which sells a range of women's clothing, accessories, and footwear - first emerged on the British fashion scene in the 1980s. Join Money Saving Club's specialist topics Select fell into administration back in 2019 blaming "tough" conditions on the high street. At the time, this put 1,800 jobs and 169 stores at risk. It was later bought out of administration by Genus UK Limited, who also fell into administration in 2022. The fashion chain was then subsequently owned by Turkish businessman Cafer Mahiroglu. In 2024, it operated around 100 stores nationwide, however in the summer the chain entered into a Company Voluntary Arrangement (CVA). A CVA allows a business to pay off its debts over a fixed period of time while still trading. It's a common way to help struggling businesses and often it involves things such as negotiating rental costs with store landlords.
Scottish Sun
09-05-2025
- Business
- Scottish Sun
Big high street retail chain launches ‘crazy offers' sale as it shuts shopping centre store amid string of closures
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A BIG high street fashion chain is closing one of its stores in hours and has launched a sale with "crazy offers". Select is closing its Grantham store on Saturday in a move that has devastated locals. Sign up for Scottish Sun newsletter Sign up 1 This sign has been posted on the window of the Select store in Grantham Credit: Facebook/SelectGrantham But before it goes, it's holding a mega sale - and customers will have to be quick to grab a bargain. A big yellow sign posted in the shop's window reads: "Crazy offers. This store is closing down." The store first revealed it was closing in a Facebook post earlier this month. "It is with a heavy heart that we tell all our lovely customers that our store will be closing," it said. "As far as we are aware our last trading day is May 10. "I just want to take a minute to say thank you for all your support over the years." Locals seemed heartbroken by the closure, with one writing: "Nooo! This is awful news!" Another said "are you kidding me", while a third added: "We will soon have no clothing stores left in Grantham." Troubles for Select The closure comes after Select went into liquidation last month. The chain has faced significant financial problems for years, first falling into administration in 2019. Beloved Italian restaurant chain abruptly closes 4 locations after going bankrupt for third time and fans 'so sad' It was then bought out by Genus UK Limited. Genus UK also went into administration in 2022, and the chain was subsequently owned by Turkish businessman Cafer Mahiroglu. Select entered into a Company Voluntary Arrangement (CVA), a process to manage debt repayment, in late 2024. It then closed 35 of its stores in March this year, leaving staff without wages or redundancy pay. The remaining 48 stores had been scheduled to close by the end of March, but The Sun revealed Essence Fashion Limited had entered into a licensing agreement with Select Fashion at the end of February. The arrangement has so far allowed 48 stores to remain open, including the Grantham branch, but now the number of Select branches will drop to 47. Why are retailers closing shops? EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre's decline. The Sun's business editor Ashley Armstrong explains why so many retailers are shutting their doors. In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping. Falling store sales and rising staff costs have made it even more expensive for shops to stay open. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 2025, will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed. The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns. Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead. In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few. What's increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online. They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places. The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year. Other major chains that have closed stores recently include WHSmith, The Entertainer, Morrisons and Poundland. WHSmith shut its Oldham branch in Greater Manchester on May 3. Two more of its stores, in Stockton and Doncaster, will close later this month. The Entertainer also shut its Barrow-in-Furness, Cumbria, store on May 3. Morrisons closed 16 of its smaller Daily convenience stores last month and will shut another, in Haxby, on May 14. Meanwhile Poundland closed its store inside Liverpool's Belle Vale Shopping Centre on May 6.
The Sun
09-05-2025
- Business
- The Sun
Big high street retail chain launches ‘crazy offers' sale as it shuts shopping centre store amid string of closures
A BIG high street fashion chain is closing one of its stores in hours and has launched a sale with "crazy offers". Select is closing its Grantham store on Saturday in a move that has devastated locals. 1 But before it goes, it's holding a mega sale - and customers will have to be quick to grab a bargain. A big yellow sign posted in the shop's window reads: "Crazy offers. This store is closing down." The store first revealed it was closing in a Facebook post earlier this month. "It is with a heavy heart that we tell all our lovely customers that our store will be closing," it said. "As far as we are aware our last trading day is May 10. "I just want to take a minute to say thank you for all your support over the years." Locals seemed heartbroken by the closure, with one writing: "Nooo! This is awful news!" Another said "are you kidding me", while a third added: "We will soon have no clothing stores left in Grantham." Troubles for Select The closure comes after Select went into liquidation last month. The chain has faced significant financial problems for years, first falling into administration in 2019. Beloved Italian restaurant chain abruptly closes 4 locations after going bankrupt for third time and fans 'so sad' It was then bought out by Genus UK Limited. Genus UK also went into administration in 2022, and the chain was subsequently owned by Turkish businessman Cafer Mahiroglu. Select entered into a Company Voluntary Arrangement (CVA), a process to manage debt repayment, in late 2024. It then closed 35 of its stores in March this year, leaving staff without wages or redundancy pay. The remaining 48 stores had been scheduled to close by the end of March, but The Sun revealed Essence Fashion Limited had entered into a licensing agreement with Select Fashion at the end of February. The arrangement has so far allowed 48 stores to remain open, including the Grantham branch, but now the number of Select branches will drop to 47. Why are retailers closing shops? EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre's decline. The Sun's business editor Ashley Armstrong explains why so many retailers are shutting their doors. In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping. Falling store sales and rising staff costs have made it even more expensive for shops to stay open. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 2025, will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed. The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns. Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead. In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few. What's increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online. They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places. The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year. Other major chains that have closed stores recently include WHSmith, The Entertainer, Morrisons and Poundland. WHSmith shut its Oldham branch in Greater Manchester on May 3. Two more of its stores, in Stockton and Doncaster, will close later this month. The Entertainer also shut its Barrow-in-Furness, Cumbria, store on May 3. last month and will shut another, in Haxby, on May 14. Meanwhile on May 6.
The Independent
01-04-2025
- Business
- The Independent
Select Fashion ‘collapses, leaving staff without pay'
Retailer Select Fashion has reportedly collapsed after closing 35 stores last month and left staff without redundancy pay or owed wages. It is understood that insolvency firm Moorfields has launched a wind down of the womenswear chain after a creditors' meeting was held last Friday to approve a voluntary liquidation. The group had already shut 35 shops in mid-March having quietly trimmed down its estate since the start of the year. Workers at the shops that shut have been told that they will not be paid outstanding wages for hours worked before the closures and many have been advised to apply for redundancy pay from the Government, according to The Sun. Employees at the remaining 48 shops have also reportedly been warned their wage payments will be delayed. In an email seen by The Sun, Select Fashion is reported to have told employees: 'Please be assured that your wages will be processed and paid out next week. 'We are doing everything we can to resolve this matter as swiftly as possible and appreciate your understanding during this difficult time.' Select Fashion could not be reached for comment and Moorfields was not immediately available to comment. Select had already entered into a company voluntary arrangement last year – whereby a business in distress has the opportunity to pay off debts to creditors over a fixed period of time, while still continuing to trade. The process was also overseen by Moorfields. Select fell into administration in 2019, before being rescued by Genus UK. It is now owned by Turkish businessman Cafer Mahiroglu. The company reported a pre-tax loss of £1.1 million for the year to the end of February 2023, according to its most recently-filed accounts. It previously flagged it was being squeezed by the cost-of-living crisis, wage pressure and higher taxes, on top of a tougher economic climate. Select's troubles follow several collapses and closures on the high street in recent months. Rival fashion chain Quiz shut 23 stores in February after falling into administration, with the retailer also citing the higher cost of living squeezing spending among its customers.
