Latest news with #Smiggle
Scottish Sun
29-06-2025
- Business
- Scottish Sun
Major high street retailer shuts another UK store after launching huge 50% clearance sale
The store began advertising an end-of-lease sale earlier this month SHUTTERS DOWN Major high street retailer shuts another UK store after launching huge 50% clearance sale Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A CITY centre shop has closed for the last time but the space has already been earmarked to be taken over by another retailer. Smiggle in Chapel Walk, formerly Crowngate, in Worcester has now ceased trading in the city. Sign up for Scottish Sun newsletter Sign up 1 The stationary store in Worcester has closed for the final time (file photo) Credit: Getty The stationery store started advertising an end-of-lease sale earlier this month in an attempt to clear stock ahead of its closing. The store's last day of trading was June 25. It has been revealed that the shop unit will be refurbished and reopen under a new retailer, according to Worcester News. Further details though have not yet been released. Earlier this month, the Smiggle branch in Coney Street, York, also closed its doors for the final time. A 50% discount sale had been launched to help shift stock before the store closed for good. It was reported in YorkshireLive that the decision to close the children's store came after the landlord decided not to renew the lease. However it is not all bad news as a new Smiggle branch is set to open in York Designer Outlet this July. It comes as the Australian business has announced plans to close a number of other stores across the UK. A Cwmbran Shopping Centre will pull down its shutters for the final time in August. Why are so many shops going bust? Meanwhile two other branches closed in back in May. A store in the Eastgate Shopping Centre, Inverness, shut its doors on May 21. While a store in the Darwin Centre, Shrewsbury, closed on May 25. In January 2024, the brand also closed a site in Dundee, Scotland. HIGH STREET STRUGGLES Smiggle is not the only retailer struggling on the high street amid the surge of online shopping and weaker household budgets. Hobbycraft shut nine stores on June 21 after launching closing down sales. Dobbies has also closed a slew of garden centres across the UK this year. The Centre for Retail Research is predicting more than 17,000 retail shops will shut in 2025 too. The centre has forecast a rise in closures after a hike to employer National Insurance contributions and the national minimum wage which took effect in April.
The Sun
29-06-2025
- Business
- The Sun
Major high street retailer shuts another UK store after launching huge 50% clearance sale
A CITY centre shop has closed for the last time but the space has already been earmarked to be taken over by another retailer. Smiggle in Chapel Walk, formerly Crowngate, in Worcester has now ceased trading in the city. 1 The stationery store started advertising an end-of-lease sale earlier this month in an attempt to clear stock ahead of its closing. The store's last day of trading was June 25. It has been revealed that the shop unit will be refurbished and reopen under a new retailer, according to Worcester News. Further details though have not yet been released. Earlier this month, the Smiggle branch in Coney Street, York, also closed its doors for the final time. A 50% discount sale had been launched to help shift stock before the store closed for good. It was reported in YorkshireLive that the decision to close the children's store came after the landlord decided not to renew the lease. However it is not all bad news as a new Smiggle branch is set to open in York Designer Outlet this July. It comes as the Australian business has announced plans to close a number of other stores across the UK. A Cwmbran Shopping Centre will pull down its shutters for the final time in August. Why are so many shops going bust? Meanwhile two other branches closed in back in May. A store in the Eastgate Shopping Centre, Inverness, shut its doors on May 21. While a store in the Darwin Centre, Shrewsbury, closed on May 25. In January 2024, the brand also closed a site in Dundee, Scotland. HIGH STREET STRUGGLES Smiggle is not the only retailer struggling on the high street amid the surge of online shopping and weaker household budgets. Hobbycraft shut nine stores on June 21 after launching closing down sales. Dobbies has also closed a slew of garden centres across the UK this year. The Centre for Retail Research is predicting more than 17,000 retail shops will shut in 2025 too. The centre has forecast a rise in closures after a hike to employer National Insurance contributions and the national minimum wage which took effect in April. 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."
Scottish Sun
11-06-2025
- Business
- Scottish Sun
Major retailer with 106 branches to shut store in days as up to 40% closing down sale launched
Has a retailer near you closed down? We'd love to hear from you please email: money@ BYE BYE Major retailer with 106 branches to shut store in days as up to 40% 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 retailer with 106 store branches will shut a store in days. Smiggle will close its branch in Coney Street in York come June 15. Sign up for Scottish Sun newsletter Sign up 1 The stationary store is preparing to close a branch in York Credit: Getty The brightly coloured stationary store first opened in the city centre nine years ago. It was reported in YorkshireLive that the decision to close the children's store came after the landlord decided not to renew the lease. A 50% discount sale has been launched to help shift stock before the store closes for good. The branch will close this Sunday, June 15 giving customers just a few days to say their goodbyes. However it is not all bad news as a new Smiggle branch is set to open in York Designer Outlet this July. The Sun has contacted Smiggle for comment. It comes as the Australian-born business has announced plans to close a number of other stores across the UK. A Cwmbran Shopping Centre will pull down its shutters for the final time in August. Meanwhile two other branches closed in back in May. A store in the Eastgate Shopping Centre, Inverness, shut its doors on May 21. Popular retailer to RETURN 13 years after collapsing into administration and shutting 236 stores While a store in the Darwin Centre, Shrewsbury, closed on May 25. In January 2024, the brand also closed a site in Dundee, Scotland. And Smiggle is not the only brand closing stores across the UK. STORE CLOSURES THIS JUNE River Island will shutter a branch in Banbury on June 28, giving customers just a few days to say their goodbyes. The fashion brand, which has been sported by Paris Fury and Cat Deeley, has quietly closed a number of stores in the past few months. A branch in Willows Place, Corby closed in April and a separate site in Vicar Lane Shopping Centre in Chesterfield closed in the same month. The Sun has contacted River Island for a comment. News of the closure comes days after it was revealed that up to 230 of the retailer's stores are at risk. Hobbycraft also has plans to close up to nine stores by June 21.
The Sun
11-06-2025
- Business
- The Sun
Major retailer with 106 branches to shut store in days as up to 40% closing down sale launched
A MAJOR retailer with 106 store branches will shut a store in days. Smiggle will close its branch in Coney Street in York come June 15. 1 The brightly coloured stationary store first opened in the city centre nine years ago. It was reported in YorkshireLive that the decision to close the children's store came after the landlord decided not to renew the lease. A 50% discount sale has been launched to help shift stock before the store closes for good. The branch will close this Sunday, June 15 giving customers just a few days to say their goodbyes. However it is not all bad news as a new Smiggle branch is set to open in York Designer Outlet this July. The Sun has contacted Smiggle for comment. It comes as the Australian-born business has announced plans to close a number of other stores across the UK. A Cwmbran Shopping Centre will pull down its shutters for the final time in August. Meanwhile two other branches closed in back in May. A store in the Eastgate Shopping Centre, Inverness, shut its doors on May 21. While a store in the Darwin Centre, Shrewsbury, closed on May 25. In January 2024, the brand also closed a site in Dundee, Scotland. And Smiggle is not the only brand closing stores across the UK. River Island will shutter a branch in Banbury on June 28, giving customers just a few days to say their goodbyes. The fashion brand, which has been sported by Paris Fury and Cat Deeley, has quietly closed a number of stores in the past few months. A branch in Willows Place, Corby closed in April and a separate site in Vicar Lane Shopping Centre in Chesterfield closed in the same month. The Sun has contacted River Island for a comment. News of the closure comes days after it was revealed that up to 230 of the retailer's stores are at risk. Hobbycraft also has plans to close up to nine stores by June 21. 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."
Herald Sun
04-06-2025
- Business
- Herald Sun
John Cheston takes over as Lovisa CEO
Don't miss out on the headlines from Retail. Followed categories will be added to My News. Longstanding fashion executive John Cheston has taken charge of ASX-listed jewellery behemoth Lovisa as its new chief executive, with the company's board promising him multimillion-dollar pay cheques if he hits key performance targets. The $3.5bn retailer confirmed the new era on Wednesday morning alongside the appointment of Mark McInnes as new executive deputy chairman. Mr Cheston will be paid a base salary of $2.35m but could earn additional short-term cash payments up to $2.35m if he substantially elevates the retailer's earnings. According to the renumeration conditions set out by Lovisa's board, Mr Cheston will receive an extra $2.35m on top of his base salary if he guides the company to earnings growth of 30 per cent or more. If he achieves 18 per cent growth in the EBIT metric, or earnings before interest and taxes, he gets $188,000 but zero if EBIT does not hit the 18 per cent threshold. John Cheston is Lovisa's new global chief executive. Picture: Supplied Further, Mr Cheston, who ran children's retailer Smiggle for more than a decade before Lovisa, could receive up to $7.05m over three-years under a long-term incentive plan if he continually hits EBIT growth of 30 per cent or more for each financial year. The reward will be issued in company shares rather than cash and is subject to a two-year holding period. Mr McInnes, meanwhile, will enjoy a cash salary of $2m in his new role on the board. Lovisa, backed and run by billionaire entrepreneur Brett Blundy, recruited Mr Cheston and Mr McInnes from Solomon Lew's Premier Investments last year. 'Mark's extensive experience and proven track record of success in a large Australian ASX-listed retailer, combined with his leadership skills, make him an invaluable member of the board and executive management team,' Mr Blundy said on Wednesday. 'We are confident that his contributions will further strengthen our position in the industry and drive long-term value for shareholders'. Mr Blundy, through his investment vehicle BB Retail Capital, owns 39 per cent of Lovisa's issued capital. Lovisa holds an international footprint with 943 stores worldwide, including 180 in Australia. Picture: Brenda Strong / The Observer Lovisa, along with all retailers, is navigating an increasingly uncertain global trade environment. Over a five-year time horizon, the company's value has boomed 312 per cent, moving from about $7 a share in June 2020 to $29.33 before Wednesday's trading. The share price spiked 8.2 per cent across Wednesday morning to hit $31.74 at midday. The company has 943 stores worldwide as of December, including 180 in Australia. It has recently opened its first franchise stores in the Ivory Coast and Republic of Congo in Africa and Panama in Central America. In its half-year report from February, the company reported $405.9m in revenues and $56.9m in profits. Originally published as Fashion retailer Lovisa appoints John Cheston as new global CEO
