Latest news with #WHSmiths
The Sun
06-05-2025
- Business
- The Sun
Major stationery retailer with 138 branches to shut store in weeks as it launches 70% off closing down sale
SHOPPERS have been left gutted as a popular stationery store is set to close its doors for good in just weeks — with a massive sale now on. Smiggle, known for its colourful, quirky pens, lunchboxes and school bags, is shutting up shop at the Darwin Centre in Shrewsbury later this month. 2 2 The exact closing date hasn't been confirmed — but according to the Shropshire Star, it's expected to be around May 25. The branch has launched a closing down sale, slashing prices by up to 70%, as families rush in to bag a bargain before it disappears. The brand, which arrived in the UK in 2014 after launching in Australia more than a decade earlier, quickly became a hit with schoolkids thanks to its bold designs and fun accessories. It currently has 138 stores across the country — including newer openings in Telford and Brierley Hill's Merry Hill Shopping Centre — but the Shrewsbury shop is the latest in a string of closures to hit UK high streets. A spokesperson for the Darwin Centre told the Shropshire Star that Smiggle had served notice and will cease trading later this month. The Shrewsbury site has long been a go-to for back-to-school supplies and birthday gifts — especially popular with younger children and teens. The news comes just weeks after a beloved toy and bike store announced its closure after 160 years in business. The 84-year-old owner revealed that the cost of living crisis has led to a reduction in sales and to the costs of running the business skyrocketing. Both independent and industry giants have been struggling with rising costs and reduced footfall over the past few years. Dozens of shops are set to close across the country before the end of the month in the latest blow to UK high streets. Why are shops closing stores? Just a few months into 2025 and it's already proving to be another tough year for many major brands. Rising living costs - which mean shoppers have less cash to burn - and an increase in online shopping has battered retail in recent years. In some cases, landlords are either unwilling or unable to invest in keeping shops open, further speeding up the closures. Smiggle isn't the only stationary shop shutting its doors, more WHSmiths stores are set to close this month. The huge sports retailer, Sports Direct is axed its Newmarket Road store in Cambridge on April 18. Whilst, Red Menswear in Chatham in Medway, Kent, shut for the final time on Saturday, March 29, after selling men's clothing since 1999. A couple months ago, Essential Vintage told followers on social that it would be closing down after they had been "priced out" because of bigger players in the market such as Vinted. Jewellery brand Beaverbrooks is also shutting three shops early this month. New Look bosses made the decision to axe nearly 100 branches as they battle challenges linked to Autumn Budget tax changes. 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 New Look's 8,000-strong workforce. It's understood the latest drive to accelerate closures is driven by the upcoming increase in National Insurance contributions for employers. The move, announced by Chancellor Rachel Reeves in October, is hitting retailers hard - and the British Retail Consortium has predicted these changes will create a £2.3billion bill for the sector. 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
27-03-2025
- Business
- Yahoo
MP says town needs to be "ambitious to turn things around" after shop shuts
Accrington's MP has said 'we need an ambitious vision to turn things around' following the closure of another high street brand in the town centre. Retailer Select Fashion has closed 35 shops across the UK since the beginning of the month, with the Accrington branch amongst those to be shut earlier this month. The group has drafted in advisors to oversee the liquidation process, having quietly trimmed down its estate since the start of last year. The loss of the Accrington branch marks another town centre business that has closed, following WHSmiths and Boots shutting down over the last 12 months. MP for Hyndburn, Sarah Smith, said: 'It's really disappointing to hear that Select Fashion in Accrington is closing. "It's a shop I've used myself, and this is bad news for our town centre. Sarah Smith is Labour MP for Hyndburn (Image: Parliament) 'Accrington was once a vibrant and thriving place, and we clearly need an ambitious vision to turn things around. "Other towns have managed to recover their local economies, and there's no reason we can't do the same.' Earlier this month, the town was earmarked for £20 million in funding under the plans for neighbourhoods' scheme, which is aimed at boosting communities and creating new opportunities. It aims to ensure residents are in control of funding, which can be used to revitalise high streets, improve parks and youth clubs and support cultural venues. Mrs Smith added: "There are already some exciting plans in motion, like the £20m we've secured for the town centre, money local people will have a say in how to invest. 'I'm working hard every single day to make Accrington a place people want to visit, shop in, and spend their money. 'We need to fight for our high street, and I'll keep pushing to make sure we do." READ MORE: Small businesses could get a retail unit for £1 in new government plan READ MORE: Once-bustling shopping centre now in "dreadful" state with weeds and leaky roof 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.
