Latest news with #closingdown
The Sun
7 days ago
- Business
- The Sun
Beloved jewellery shop launches huge ‘everything must go sale' ahead of shutting its doors in DAYS
A MUCH-LOVED jewellers is set to close its doors for good after more than 20 years on the high street. The jewellery shop has launched an 'everything must go' sale, ahead of its closure. 2 2 Whittakers Jewellers, which has been a staple of Yarm High Street for 21 years, has confirmed its final day of trading will be Saturday, May 31. The long-running store first announced its closure back in November, sparking sadness among loyal locals. Since then, big bold signs have filled the shop windows, shouting about the store's closing down sale with jewellery fans flocking in for a final bargain. But now, with the countdown officially on, fresh signs have gone up confirming its last day is just days away. The store have slashed jewellery prices from as much as 70% off. The store posted one hot deal to its Facebook, where a diamond ring was slashed from £7,350 to £2,190. The deal meant shoppers would save a massive £5,000. The family-run store has thanked customers for their loyalty over the years in a heartfelt Facebook message. It said: 'We are sad we are leaving but we have treasured the 21 years we've been here on the High Street. "We think of our customers as family and friends… we will miss you all.' Whittakers have built up a massively loyal customer base and is located between the Lucy Pittaway art store and The Keys pub. Four members of the Evans family have run the business since March 2004. Bosses of the jewellers told Teesside Live they had expanded over the years - and even opened the first Pandora shop in the country. But they added they always looked to maintain a "genuine, homey feel". Fans of the jewellers say it will leave a huge hole in the town, with one heartbroken shopper writing: 'It'll be such a big loss to the high street and to me. "I've had the pleasure of purchasing so many lovely items over the years" Another added: 'Big loss to Yarm High Street.' While a third said: "Thank you for your beautiful jewellery and fabulous staff. You will all be greatly missed" Popular retailer to RETURN 13 years after collapsing into administration and shutting 236 stores It's not the only jewellery giant feeling the pinch. G Hewitt & Son, a 154-year-old jewellers, and one of the UK's first Rolex retailers, launched a once-in-a-lifetime closing down sale last month. The shop told followers on Facebook: 'Everything must go – don't miss out on huge savings.' Meanwhile, The Watches of Switzerland Group - based in Leicestershire - has confirmed it will close 16 showrooms across the country and that 40 people were expected to leave the business. Similarly, Terence Lett Jewellers, located on the high street in Witney, Oxfordshire, has announced its decision to shut up shop. And loyal customers of Jane Allen Jewellers in Merthyr Tydfil, Wales were left distraught to hear the update and have been mourning the imminent loss. With more and more historic jewellers disappearing from high streets, Whittakers' final goodbye will be bittersweet for shoppers in Yarm. Locals now have just days left to bag a bargain and say farewell to one of the town's best-loved shops. RETAIL SECTOR STRUGGLES Its not just jewellery stores that are suffering to stay open. The retail industry has faced multiple closures this year, with ocncerns over the British high streets becoming 'ghost towns'. It's worth bearing in mind, larger retail chains often open and close branches based on customer demand and sales. Sometimes a single store might shut because a lease is ending and the chain has decided it is better to direct cash into other shops or opening new ones. However, the retail sector more broadly has struggled since the 2008 financial crash. The Centre for Retail Research has said the industry has been going through a "permacrisis" during this period. There are a number of reasons the sector is struggling, one being the rise of online shopping. This has seen footfall to high street stores fall seeing large swathes of branches close across the UK. Challenging economic conditions in recent years, including soaring inflation, have dented shoppers' wallets and purses too. While some bigger retailers have struggled to stay afloat, including Wilko, in recent years independent shops have suffered the most. The Centre for Retail Research said more than 13,000 high street shops closed in 2024, with over 11,000 of these independents. 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."
The Sun
22-05-2025
- Business
- The Sun
Beloved shoe retailer to shut shop after 21 years on the high street as it launches 50% closing down sale
A POPULAR shoe shop that has been a fixture in the city centre for over two decades is preparing to close its doors for good — and everything must go. Siddalls of Norfolk, based on St Stephens Street in Norwich, is shutting up shop at the end of September after 21 years of trading. The closure comes as the business struggles with reduced footfall following the loss of Debenhams, which once stood opposite the store. Part of a family-run company founded 89 years ago, Siddalls' main store in Holt will remain open. The Norwich branch is now offering 50 per cent off old stock and 15 per cent off new items as part of a major closing down sale. Managing director Sean Siddall confirmed the lease in Norwich will expire in September, explaining wider retail challenges that have affected footfall and business costs in the area. He said: 'Since Covid, retailing in Norwich has been more difficult and then there was also the government's national insurance increase for businesses. "We are absolutely gutted to do this but it's just one of those things.' The loss of Debenhams, which closed its doors in 2021, has had a knock-on effect on neighbouring shops, with many reporting a drop in customers. Siddalls is the latest in a string of independent retailers struggling to stay afloat on the high street. Norwich branch manager Toni Uttling said it had become increasingly difficult to attract passing trade in the years since Debenhams shut. Still, she remains grateful to the store's regular customers. 'It was a bit of a shock. Customers have come in and said how sad they are. "It's heart breaking for them because they've relied on us for so long,' she said. Ms Uttling, who has worked at the branch for over a decade, paid tribute to her colleagues and the dedication they've shown through challenging times. 'We had a lady who retired last year and I remember when I started, she taught me everything I needed to know. "The staff have been brilliant. Our team is very hardworking and we are all quite proud of the shop. We've all wanted it to do well.' The closure is a blow to shoppers looking for traditional service and well-fitted shoes, something Siddalls has built a strong reputation for over the years. One loyal customer told staff they were 'devastated' by the news, adding that finding another shoe shop with such personal service would be difficult. Local businesses in the area have expressed concern about the number of empty units on St Stephens Street, with calls for more support to help keep footfall strong and preserve the character of the city's shopping scene. In the meantime, the team at Siddalls is urging customers to pop in for one last browse and to take advantage of the discounts while stock lasts. The shop will officially close at the end of September. The closure of Siddalls of Norfolk in Norwich is part of a broader trend of high street retailers shutting their doors across the UK. Economic pressures, changing consumer habits, and rising operational costs are contributing to a wave of store closures. In Huddersfield, 17-year-old Stephen Mallalieu announced the closure of his card shop, Imperial Cards, stating low revenue and urging local authorities to revitalise the town centre. Stephen expressed his disappointment, stating: 'It's been a pleasure being part of the Imperial Arcade family, but nobody is spending money in Huddersfield.' Meanwhile, Poundland faces significant uncertainty as up to 200 of its stores may close. Its parent company, Pepco Group, plans to sell Poundland by the end of its current financial year in September 2025. Store closures have already begun, with several UK locations shutting down, including sites in Gravesend, Clapham Junction, and Liverpool. 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." 2
The Sun
20-05-2025
- Business
- The Sun
Major outdoor retailer with 300 branches to shut store with ‘everything must go' 60% off sale launched
The 300-store chain is the latest big name to quit the high street BYE BYE Major outdoor retailer with 300 branches to shut store with 'everything must go' 60% off sale launched A MAJOR high street outdoor retailer is saying goodbye to the city centre, launching a huge 'everything must go' closing down sale with up to 60 per cent off. Outdoor clothing chain Trespass has confirmed it is closing its store on The Moor in Sheffield, one of the city's main shopping streets. 3 The Trespass store in Sheffield city centre, located at 72 The Moor, is expected to close down in August. The store, which opened around three years ago, is an outdoor pursuits specialist. Credit: Google Maps 3 Trespass in Ipswich town centre closing down sign in window Credit: SWNS/Newsquest The branch, which opened just three years ago, is expected to close permanently in early August. Posters reading: 'Closing Down – Everything Must Go' have appeared in the windows, with discounts of up to 60 per cent as the retailer clears out stock. The decision marks another blow for The Moor, which has already seen big names like Debenhams, Burton/Dorothy Perkins and Miss Selfridge shut up shop. While the area still has fewer empty units than nearby Fargate, it reflects the ongoing shift in city centres away from traditional retail. Trespass, which has around 300 stores across the UK, is scaling back operations as footfall and sales decline. In 2023, it confirmed six closures, and by 2024, at least 12 more had followed, including sites in Coventry, Norwich and Middlesbrough — the latter of which had only opened two years earlier. The brand, known for its hiking boots, waterproofs and outdoor gear, is offering deep discounts as it winds down operations in Sheffield. Customers can expect reductions on a wide range of items including jackets, trousers, footwear and accessories. Local shoppers will be disappointed to lose a specialist store in the heart of the city. One long-time customer said: 'It's a shame – we've bought hiking gear and waterproofs here for years. Beloved department store chain shutting more locations with clearance sales on now until final May 25 deadline "Not sure where we'll go now.' The closure follows a similar situation in Aylesbury, where the Trespass store at Friars Square Shopping Centre shut its doors for good on 18 May. Shoppers there praised staff for their service, calling the store 'absolutely fabulous' and the team 'helpful and well-informed'. The retail landscape across the UK continues to change. Other chains including Beales and New Look have also been closing branches. Beales is set to shut its last store in Poole later this month, ending more than 140 years of trading. Meanwhile, New Look is understood to be axing nearly 100 shops — almost a quarter of its total. Despite the challenges, not all the news from The Moor is bad. Comic and memorabilia store Forbidden Planet recently opened a new branch nearby, bringing fresh life to the area and offering a boost to footfall. But for many locals, the departure of yet another established name like Trespass is a sign of the times. As online shopping continues to grow and economic pressures mount, more closures could be on the horizon. 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."
The Sun
20-05-2025
- Business
- The Sun
High street chain with 178 shops puts ANOTHER store up for sale ahead of three more branches shutting
A MAJOR discount store with 178 shops has put one site up for sale ahead of closing three more stores. The landlord of The Original Factory Shop (TOFS) in Nairn, Scotland, has listed the site for sale. 1 The retail unit is already listed for sale on the TSA Property Consultants website, suggesting it is likely to close soon. This follows news that another TOFS location in Peterhead, Aberdeenshire, has been listed for rent. Staff at the Peterhead store told The Press and Journal that it is expected to shut in June. These developments come just weeks after TOFS' owner, Modella Capital, launched a restructuring effort to renegotiate rents at 88 of its stores. Despite these efforts, the retailer has confirmed that two more stores, in addition to the Peterhead location, will be closing in the coming weeks. Its site in Market Place, Staveley, Derbyshire is set to close permanently on July 12. The announcement, shared on the store's Facebook "The Original Factory Shop Staveley has served you for 20 years and will be closing its doors for the final time on the July 12." TOFS' store on Charles Street, Milford Haven, has also announced its closure with the launch of a 30% off closing-down sale. A post on Facebook read: "Closing down sale now on in store! Why are shops closing stores? "Up to 30% across all items." Its unclear when this store will pull the shutters down for the final time. A spokesperson for The Original Factory shop told The Press and Journal: "The Original Factory Shop (TOFS) recently confirmed that as part of a restructuring a number of its loss-making stores will have to close. "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future. "We have already announced that two stores will close. "Additionally, a small number of other stores are currently under review, with their continued operation subject to ongoing negotiations with landlords." While many bargain stores such as B&M and Home Bargains have seemed to profit from the cost of living crisis, The Original Factory store has struggled to stay afloat. Duke Street Capital, which had owned the company since 2007, attempted to offload the business in 2023 through Deloitte, but a deal never came to fruition. In February, TOFS was eventually sold to private equity firm Modella Capital, which also owns Hobbycraft and WHSmith 's high street stores. What's happening at TOFS? Modella Capital, the new owner of the Original Factory Shop, drew up plans to initiate a company voluntary arrangement (CVA) at the end of April. Companies often turn to a CVA as a means to stave off insolvency, which could otherwise result in store closures or the collapse of the entire business. A CVA provides struggling firms with an opportunity to explore strategies to safeguard their future, such as negotiating reduced rent rates with landlords. For TOFS, this involves trying to renegotiate rents at 88 of its 178 stores. However, it's important to note that landlords don't have to agree to reduced rents. If an agreement cannot be reached, TOFS may be forced to close stores, which would unfortunately result in job losses. For now, the future remains uncertain. The retailer has also shuttered more than a dozen stores over the past 12 months. History of The Original Factory Shop FOUNDED in 1969 by the Black family in Keighley, the first shop was part of Peter Black's retail network. Initially, it focused on selling surplus soap produced by one of Black's factories, offering local communities great value. Over the years, TOFS evolved from its humble beginnings, expanding its product range to include clothing, homeware, beauty products, toys, and more. It became known for offering a diverse selection of well-known brands at discounted prices. The company grew steadily, reaching 185 stores by 2011 and expanding its headquarters and warehouse in Burnley to accommodate its increasing needs. In 2007, the chain was acquired by private equity firm Duke Street Capital. Since then, TOFS has undergone various transformations, including store closures and openings, as it adapted to the changing retail landscape. In February 2025, Modella Capital, the owner of Hobbycraft, acquired TOFS. Hard times for discount stores Store closures are indicative of the harsh retail climate which has plagued high streets up and down the UK in recent years. Rising costs, coupled with shoppers tightening their purse strings, have placed pressure on businesses and damaged sales. Bargain retailers such as B&M and Home Bargains have performed better than others thanks to their low price point, but this has created rivalry. However, much like TOFS, Poundland is also grappling with challenges to remain competitive in the market. The discount retailer, owned by Pepco, enlisted advisory firm Teneo earlier this month to manage the potential sale of its business. A significant number of stores could be axed as part of the proposed sale, reports say. It comes after Pepco said it was looking at "all strategic options" to separate Poundland from its brand. The Polish group said it might turn its focus to its more profitable businesses in Europe. Pepco previously warned that hikes to employer national insurance contributions (NICs) and national minimum wage would significantly add to its costs. Chancellor Rachel Reeves said during her autumn statement last year that she would raise employers' NICs from 13.8% to 15%. She also announced a reduction to the threshold at which businesses start paying NICs from £9,100 to £5,000. It's estimated that the move will raise £25billion, costing the equivalent of around £800 per employee for businesses. Late last year, it was revealed that profits at Poundland also tumbled by £641million in the year to September, with bosses again blaming slow sales amid a poor outlook thanks to measures set out by Reeves. The firm is not the only business to have warned of these challenges. The move has been blasted by a number of high street stores including Greggs, Sainsbury's, Next and Halford s, which all said it could force them to raise prices and further bruise the industry. 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.
The Sun
19-05-2025
- Business
- The Sun
Major high street retailer to shut two stores this week as shoppers pick up bargains in huge 70% off closing down sale
SHOPPERS are rushing to bag bargains as a major high street chain prepares to shut two of its stores for good this week. Smiggle, the bright and bubbly stationery brand loved by school kids, is waving goodbye to its Inverness and Shrewsbury branches . 2 2 The Eastgate Shopping Centre store in Inverness will shut its doors on Wednesday, May 21, while the Darwin Centre branch in Shrewsbury will close just days later on Sunday, May 25. Both sites have launched massive closing down sales, with up to 70% off everything in store — and shoppers are snapping up discounted lunchboxes, backpacks, water bottles and more while they still can. A staff member at the Inverness shop told The Sun the closure comes as Smiggle chose not to renew its lease – and warned the shop could shut early if everything sells out. Smiggle – which first launched in Australia in 2003 and arrived in the UK in 2014 – quickly won over families with its bold colours, quirky accessories and fun school gear. At its peak, the chain had over 130 branches across the UK, though rising rents and changing shopping habits have hit many high street retailers hard in recent years. The Shrewsbury store's closing sale has slashed prices by up to 70%, and a spokesperson for the Darwin Centre confirmed the brand has served notice and will cease trading this week. With time running out, shoppers are being urged to head in fast — before both stores disappear from the high street for good. 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. Why are shops closing stores? Dozens of shops are set to close across the country before the end of the month in the latest blow to UK high streets. 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 in the next few months. 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."
