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The Sun
a day ago
- Business
- The Sun
Poundland launches huge 75% off sale as 12 stores shut their doors this week
POUNDLAND has launched a huge 75% off sale as 12 stores will shut for good this week. The bargain retailer is preparing to close its branch in the Killingworth Centre in Newcastle this week. 1 The store is set to shut this Sunday, August 24, with the chain slashing prices by up to 75%. The news has come as a blow to locals who said they were "sad" to see the store closure. But other bargain hunters encouraged shoppers to check out the sale, with many items selling like "hot cakes". It won't be the only store Poundland shutting this weekend. Up to 12 sites are set to close and a further 11 stores will shut the following week. It comes after the beloved British store confirmed it would be shuttering 48 locations this month. The bargain chain closed 15 stores yesterday as part of the process. You can check out the full list of impacted stores here. Closed on August 17: Bedford Bidston Moss Broxburn Craigavon Dartmouth East Dulwich Falmouth Hull St Andrews Newtownabbey Perth Poole Sunderland Stafford Thornaby Worcester Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures Shutting on August 24: Brigg Canterbury Coventry Newcastle Kings Heath Peterborough Peterlee Rainham Salford Sheldon Wells Whitechapel Shutting on August 31: Blackburn Cookstown Erdington Kimberley Kimberley Shopping Centre, Nottingham Horsham Hull Holderness Kettering Omagh Shepherds Bush Southport Taunton As it stands, Poundland operates 800 stores nationwide, but the company hopes to significantly reduce this number to between 650 and 700. This includes the 68 stores closing as part of the restructuring, as well as additional stores shutting when leases expire and are not renewed. These restructuring plans were outlined in June by the investment firm Gordon Brothers. This came after the company was sold to the firm that month as part of a deal that included major restructuring and an £80million cash injection. 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."
Yahoo
04-08-2025
- Business
- Yahoo
Changes to city centre shop get the council's approval
A business unit on a busy shopping street in the city is set to undergo some changes after plans for it were approved. The building in St Stephens Street - which was previously occupied by Yours - will be given two single doors, one in the middle for 39 St Stephen's Street and the other on the side for 41 St Stephen's Street after the single shop was divided into two. The new shopfront windows and doors will be constructed with PPC aluminium-framed glazing units and the new recessed entrances will also have non-slip ceramic floor tiles. The unit used to be occupied by Yours (Image: Newsquest) Planners for Norwich City Council said: "The proposed alterations to the shopfront are reasonable, the proposed change to the shopfront is in keeping with the design of the surrounding units and will not significantly alter the appearance or character of the area." The bid comes after shoppers deemed the road "rubbish" despite it undergoing a multi-million-pound revamp just three years ago. St Stephens Street is currently teeming with empty units and litter strews the pavement - with one shopper calling it "the wilderness" for how empty it looks. This has led to calls for more to be done to improve the area, with Joshua Bamfield, director of the Centre for Retail Research in Norwich, saying it needs to be "more accessible to people". In 2022, the council spent £6.1m in government funds to build bus parking bays, wider pavements, crossing points and installing seating along the street. Emma Hampton, a Norwich City Councillor and deputy leader and cabinet member for climate and environment, said: "Keeping St Stephens clean is a daily team effort - and a big part of that comes down to people power. "Our street cleaning crews are out every day using a mix of tools and tactics to stay on top of litter."
The Irish Sun
01-07-2025
- Business
- The Irish Sun
Game is shutting down MORE stores in just weeks with 20% off ‘everything must go' sale
BRITISH retailer GAME has announced the closure of yet another store as it dials back its presence on the highstreet. The retailer's long-standing Chatham store, inside the Pentagon Centre, will shut in September. 1 The video game retailer has undergone significant restructuring and downsizinG Credit: Google maps The GAME shop in Victoria Centre, Nottingham, is also set to close its doors next month. Stock in all stores must go, with most items being flogged at 20 per cent off. GAME sells a variety of video games, consoles and pop culture merchandise. Shoppers in the Chatham store can get 20 per cent off all full price toys, board games, LEGO, video games, plushies and gaming accessories like headphones. READ MORE ON TECH CLOSURES The Chatham branch narrowly avoided closure in 2020 when 40 locations across the UK were axed. The retailer has shut a number of its locations across the UK in recent months. The Frasers Group , which acquired GAME in 2019 as part of a £52million deal , has been converting stores into concessions within Sports Direct and other stores owned by the group. The video game retailer has undergone significant restructuring and downsizing. Most read in Tech While plans don't indicate that the stores will disappear from the British high street completely many locations are expected to close. GAME, in Festival Place, Basingstoke, will also be holding a 20 per cent off everything closing down sale before shutting up shop for good on August 10. The retailer has given no reason for the abrupt departures from shopping centres in the UK. However, the decline comes amid a significant drop in sales of physical video games, compared to Game's heyday in the early 2000s. The Digital Entertainment and Retail Association (ERA) revealed that in 2022, nearly 90 per cent of all video games sold in the UK were digital downloads. 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. 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. 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."
Scottish Sun
20-06-2025
- Business
- Scottish Sun
Supermarket chain with 300 stores launching closing down sale ahead of shutting popular site this weekend
A POPULAR supermarket chain is launching a huge closing-down sale this weekend, as it shuts one of its 300 high street stores. The budget foodstore has been providing shoppers with bargains in the busy shopping precinct for over two decades. Advertisement 2 A budget foodstore is closing the doors to one of its stores this weekend Credit: Getty 2 Farmfoods in Ilkeston is set to close after two decades Credit: Alamy Farmfoods, in Ilkeston, Derbyshire, is closing its doors for the final time this Sunday, June 22, with the remaining stock being sold off at a reduced price. Shoppers have been left devastated by the news, which marks another blow for the high street. Posting in the Ilkeston Life Facebook group, one person said of the Scottish store, which was founded in 1954. "A blow for savvy Ilkeston shoppers - Farmfoods in the precinct is closing. Advertisement "It will be missed by many people, and the pleasant, helpful staff will be out of a job. "Shops like this are a lifeline to many folk." The post was flooded with comments from locals, sharing their sadness at the loss. One person said: "Soon the precinct will be empty...." Advertisement A second person said: "It will be a sad day to see another shop closing. "It always seems to be busy though so it makes no sense." NatWest to close 53 bank branches in fresh blow to UK high street – see if your local is affected A third person added: "Oh what a shame, it will be sorely missed." This follows the news that Poundland has confirmed plans to shut 68 stores, with up to 150 at risk of closure. Advertisement The struggling discount chain was sold for just £1 last week and it was expected a major shake-up would be needed to rescue it. Poundland has now announced a huge series of changes aimed at keeping itself afloat - although these will need to be approved by the High Court in August. 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. 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. 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." They include ditching its frozen food items, getting rid of its loyalty scheme app and no longer selling products online. The Original Factory Shop has also recently launched another closing-down sale as the brand pulls the shutters on another store. Advertisement The discount department store has slashed the prices on everything, from clothing to gardening tools to toys. Clothing rails have been tagged with percentage-off signs as high as 30 per cent off. And a major DIY retailer has launched a huge closing-down sale as it prepares to close one of its branches in weeks. The Hobbycraft store in Imperial Park, Bristol, has confirmed that it will close its doors for good on June 21.
Scottish Sun
08-06-2025
- 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."
