Latest news with #JoshuaBamfield
Scottish Sun
2 days ago
- Business
- Scottish Sun
Major fashion retailer with more than 350 UK stores to shut city centre shop for good TODAY
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR fashion retailer with more than 350 stores will close a shopping centre location TODAY. New Look will be pulling down the shutters of one of its locations in Birmingham. Sign up for Scottish Sun newsletter Sign up 1 New Look will shutter its location in Birmingham's Northfield shopping centre later today The store - which is located in the city's Northfield shopping centre - announced the closure to customers through a sign in the window of the store. "Thanks for having us, Northfield," it reads. "This store will be closing on Sunday 8th June. "Don't worry, you'll still be able to find us at with 100s of new styles dropped every week! Scan to download our app for exclusive offers." In the lead up to Sunday's closure, the retailer has launched a major closing-down sale, with prices slashed by up to 70%. The retailer has not confirmed the reason behind the move, it is also uncertain how many staff members will be impacted or whether anyone has been issued a redundancy notice. What's happening at New Look? New Look is ramping up a store closure programme ahead of April's National Insurance hike. Approximately a quarter of the retailer's 364 stores are at risk when their leases expire. This equates to about 91 stores, with a significant impact on it's 8,000 strong workforce. The company has restructured its store estate twice in the past six years, reducing its portfolio from around 600 UK stores in 2018. Final sales begin as popular clothing brand closes all stores leaving 'devastated' shoppers scrambling for alternative For the time being, stores remain open as usual, and no final decisions regarding closures have been made. The move to accelerate store closures is understood to be driven by the forthcoming increase in National Insurance, announced by Chancellor Rachel Reeves in October. Employers currently pay NICs for most workers earning more than £9,100 a year. The sum they pay is the equivalent of 13.8% of the employee's earnings above that threshold. For an employee earning £30,000, the employer would pay NICs of £2,884.20. However, in the Autumn Statement, the Treasury announced it would increase the tax rate to 15% and reduce the threshold at which firms must pay to £5,000. The British Retail Consortium has predicted that these changes will create a £2.3billion bill for the sector. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." A New Look spokesperson said: "Our store estate is an important part of our business, alongside our best-in-class website and app. "We have recently invested over £3million in our stores in Greater Manchester to trial new omnichannel initiatives to improve customer experience. "We also continue to invest in our thriving online platform which has resulted in a strong online sales performance, with volumes significantly outpacing last year and an improved online margin." "On occasion we do have to close stores, either due to the landlord's request or because the site becomes unviable. "However, we always remain on the lookout for appropriate new opportunities across the country and continue to invest in our existing store estate."
Scottish Sun
28-05-2025
- Business
- Scottish Sun
Big high street retailer shutting city-centre store TODAY following string of closures
A quarter of the brand's stores are expected to close SHUT DOWN Big high street retailer shutting city-centre store TODAY following string of closures A MAJOR fashion retailer with more than 350 stores will close a city-centre location today. New Look will shutter it's shop in Chelmsford, Essex amid a string of other closures. 1 New Look is planning to close nearly 100 stores Credit: Google The retailer has not confirmed any plans to open another branch in the area. 'Our store in Chelmsford is set to close on 28th May," a New Look spokesperson said. "We would like to thank all of our colleagues and the local community for their support over the years. "We hope customers continue to shop with us online at where our full product ranges can be found.' What's happening at New Look? New Look began ramping up its store closure programme prior top April's National Insurance hike. Approximately a quarter of the retailer's 364 stores are at risk when their leases expire. This equates to about 91 stores, with a significant impact on it's 8,000 strong workforce. The company has restructured its store estate twice in the past six years, reducing its portfolio from around 600 UK stores in 2018. For the time being, stores remain open as usual, and no final decisions regarding closures have been made. The move to accelerate store closures is understood to be driven by the increase in National Insurance, announced by Chancellor Rachel Reeves in October. Shock Closure: Fisher Tours Ends Operations After 22 Years Employers currently pay NICs for most workers earning more than £9,100 a year. The sum they pay is the equivalent of 13.8% of the employee's earnings above that threshold. For an employee earning £30,000, the employer would pay NICs of £2,884.20. However, in the Autumn Statement, the Treasury announced it would increase the tax rate to 15% and reduce the threshold at which firms must pay to £5,000. The British Retail Consortium has predicted that these changes will create a £2.3billion bill for the sector. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." A New Look spokesperson said: "Our store estate is an important part of our business, alongside our best-in-class website and app. "We have recently invested over £3million in our stores in Greater Manchester to trial new omnichannel initiatives to improve customer experience. "We also continue to invest in our thriving online platform which has resulted in a strong online sales performance, with volumes significantly outpacing last year and an improved online margin." "On occasion we do have to close stores, either due to the landlord's request or because the site becomes unviable. "However, we always remain on the lookout for appropriate new opportunities across the country and continue to invest in our existing store estate."
Scottish Sun
16-05-2025
- Business
- Scottish Sun
Major high street retailer to shut at popular shopping centre as huge closing down sale launched
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR high street chain is shutting one of its stores for good in a busy shopping centre — and launching a huge closing-down sale. Shoppers are gutted after finding out a popular Superdry store near Silverburn, just outside Glasgow, is set to close for good. Sign up for Scottish Sun newsletter Sign up 1 Superdry is set to shut its popular branch near Silverburn for good Credit: Alamy The store has slashed prices by 50 per cent to clear remaining stock. One disappointed shopper shared the news on Facebook, writing: 'For anyone near Silverburn, just outside Glasgow — Superdry are closing their store this Saturday. 50% off all stock.' However, another user later revealed the discount had jumped to a whopping 75 per cent. While some believe high street closures like this are now expected, others still express frustration at how quickly long-standing shops are disappearing. Similar cases across the UK have seen stores shut amid rising business rates and increasing pressure on employers. In Ipswich, the Trespass shop on Westgate Street has repeatedly put up 'closing down' posters, most recently this month, prompting debate among locals over whether it's genuinely closing or simply using a tactical sales approach. The Aylesbury branch, however, appears to be the real deal. Staff have reportedly told customers the final day of trading will be this Sunday, with all remaining stock being cleared out at discounted prices. This closure comes during a rough patch for British retail. Other high street names like Sports Direct, New Look, and WHSmith have also shut stores or announced downsizing in recent months. According to the British Retail Consortium, a mix of higher running costs, tax changes, and increased National Insurance contributions are placing a £2.3 billion burden on the retail sector, pushing more shops off the high street. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." DEATH OF THE HIGH STREET Retailers have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 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. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Scottish Sun
13-05-2025
- Business
- Scottish Sun
Major fashion retailer with 20 UK shops suddenly closes Glasgow store
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR fashion retailer with 20 branches across the UK has announced the shock closure of one of its Scottish shops. Gant is a popular American company that sells luxury clothes for men, women and children. 2 Gant's branch in Glasgow city centre has closed for good Credit: GOOGLE MAPS 2 Signs have now appeared on the shop windows (stock pic) Credit: Getty The brand, founded in 1949, first began as a shirt maker, but over time, it evolved into a premium American sportswear brand. And it now sells a stylish range of clothing, accessories and footwear. However, bosses have revealed that one of its Scottish branches has now officially closed. The retailer's branch in Glasgow pulled the shutters down for the final time with no warning. Signs appeared on the windows of the store in the city centre informing customers of its sudden closure. Large posters on the windows and the shopfront read: "We are now closed." The reason for the shock closure is currently unknown. The store is located on Ingram Street, close to the Gallery of Modern Art, and first opened five years ago, back in May 2019. There are currently 19 Gant stores across the UK, not including the branch in Glasgow that recently closed. Why are retailers closing stores? Retailers have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. End of an Era: Aldo's Iconic Chip Shop Closes After 30 Years High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 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. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
The Sun
04-05-2025
- Business
- The Sun
Poundland to shut shopping centre store in just DAYS as ‘greedy landlords' blamed for ghost town high street
POUNDLAND is set to shut a shopping centre store in just a few days - as "greedy landlords" are blamed. The 35-year-old chain has been forced to close a string of its branches in recent months - which currently stand at just over 800 nationwide. 1 The latest store to join the list is a branch in Liverpool 's Belle Vale Shopping Centre - with a closing date of May 6. A post shared on the Belle Vale and Netherley Facebook group read: "Another shop closing down. "Good luck to the staff and hope they find another job soon." The post was flooded with comments from furious shoppers, with one blaming "greedy landlords" for the decline of businesses in the area. "There won't be anything left poor staff," they added. Another wrote: "Its wrong some of the workers in there have been loyal workers in there for years. "Bellevale owners don't give a (monkeys) about the shops or the community. "They're greedy and either want ridiculous rent and contracts or they want to force people out so they can flatten it." A spokesman for Poundland confirmed that the company had been served notice on the lease. He said: "We know how disappointing this will be to customers and colleagues. "Whenever we have to close a store in these circumstances, we do all we can to look for other opportunities for colleagues and that work is now underway. "We'd like to thank customers at Belle Vale for their support – and look forward to welcoming them at our other stores across Merseyside." It comes just days after another Poundland in Clapham Junction station, south London, also shut its doors. A spokesperson confirmed to The Sun: "We know how disappointing our closure at Clapham Junction will be to customers. "We look forward to welcoming them to our store nearby at the Southside Shopping Centre in Wandsworth." Meanwhile, locals in Gateshead, Kent, will say goodbye to a Poundland branch inside the St George's Centre this Wednesday (May 8). And another store in Brackla, Wales, will follow suit on May 24. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
