Latest news with #closure
The Sun
5 hours ago
- Business
- The Sun
Beloved cafe is forced to close down due to rising costs leaving loyal customers ‘gutted'
ANOTHER independent cafe has been forced to close as a result of the crippling economic conditions. Bookmark in Spalding, Lincolnshire, will be serving customers for the last time at the end of this month. 1 The cafe, which also boasts its very own bookshop, broke the news to loyal visitors recently. Owner, Darren Sutton, said: "Unfortunately, due to the current economic conditions and challenges in the retail and hospitality sector together with increased labour costs, increased employers' national insurance, business rates, food and energy costs it has become increasingly difficult for stores in town centre locations to be economically viable. "So with great sadness and regret that we announce that Bookmark will be closing on Friday, July 25. 'We wish to place on record our thanks to our dedicated staff who have worked for us during our tenure of the business, our suppliers and the support shown by our customers over the years.' The website has been taken offline so remaining purchases can be made directly through the store. The company also issued a short statement on Facebook, which read: "Unfortunately, the Coffee House of Bookmark is no longer open from today. "The Bookshop will remain open until we close. Thank you to our customers for all your support!" Customers flocked to the comment section to offer their condolences and support. "Bookmark will be sorely missed by so many of us. A wonderful independent store with a great coffee shop. I did manage to come into the shop last week," one wrote. "Can't imagine it not being part of Spalding any longer," they added. A second echoed: "When I moved to Spalding over 20 years ago, I was so excited that there was an independent book shop in the town. "I have loved spending time here over the years. Absolutely gutted you are closing." A third wrote: "Oh no, gutted you're closing. I always pop in when I visit on the way to my mum's. So sorry to hear this. Hope you have fantastic adventures planned!" It's not just the small companies being forced to shut up shop. Costa Coffee has been closing branches across the country, which has been described as "a sign of the times". On June 29, the store on Whitstable High Street, Kent, closed its doors for the final time. When Costa Coffee first arrived on Whitsable High Street five years ago there was some initial disquiet. The area is fiercely proud of its reputation for independent stores and cafes. But it's the latest casualty in a string of nationwide closures by the coffee chain which were first announced last year. This included the Costa in Maidstone town centre which shut up shop in January 2024. The British Retail Consortium predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Three-quarters of companies cited the cost of employing people as their primary financial pressure. At the start of this year, the Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down in 2025. 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 warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector across the year. "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."
CTV News
6 hours ago
- Climate
- CTV News
Pool in Stratford closes for the day due to ‘fouling'
Stratford Lions Pool is seen in this undated image. (Courtesy: Facebook/City of Stratford) Anyone planning to visit the Stratford Lions Pool on Tuesday will need to make new arrangements. In a social media post, the city said it was closed down for the rest of the day due to 'pool fouling.' It is unclear when the pool may reopen, but the city said it will provide an update on Wednesday. People looking for other ways to cool down can visit the Anne Hathaway Park Splash Pad or the Stratford Rotary Complex.
The Herald
15 hours ago
- Business
- The Herald
ArcelorMittal South Africa says little progress made to avert plant closure
Talks with government have so far yielded little progress to avert the closure of loss-making long steel operations at ArcelorMittal South Africa, the company said on Monday. The South African unit of the world number two steelmaker said in November 2023 it planned to close the two plants, citing weak domestic demand, high electricity tariffs, poor freight logistics and competition from local scrap metal recycling mini-mills and imports from China. "Regrettably, limited progress has been made to date in redressing the major structural impediments," ArcelorMittal SA said in a trading update. It said the closure could no longer be postponed beyond September 30 unless a solution is found soon. Trade and industry minister Parks Tau told lawmakers on July 4 government was in "firefighting mode" as it tries to avoid the closure of ArcelorMittal's operations in KwaZulu-Natal and near Johannesburg. The closure of the plants, which supply rail, roads and bars to the construction, mining and manufacturing sectors and components for the automotive industry, has been deferred twice as the company and government sought to save the 3,500 jobs directly under threat. In March, the steel company postponed the closures to September 30 after the state-owned Industrial Development Corporation injected R1.683bn in cash. Imports have flooded the domestic market, taking up more than 35% of local steel demand, while freight rail service "deteriorated to its lowest levels ever, resulting in significantly elevated operating risk", the steelmaker said. ArcelorMittal SA expects to report a headline loss per share between 89c 99c for the six months to June 30, narrowing its loss from R1 per share during the same period last year. Sales volumes declined by about 10% in the first half of 2025 compared to last year, the company said. ArcelorMittal SA will release its half-year financial results on July 31. Reuters
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Business Standard
19 hours ago
- Business
- Business Standard
Importers delay clearances for US dry fruits to avoid high import duties
Dry fruit importers in India are now delaying customs clearance of walnut, almonds, and other nut shipments from the United States, as they look to avoid incurring heavy losses if the import duties are reduced, The Economic Times reported. This comes as the negotiations between the US and India started again on Monday after a Commerce Ministry team reached Washington to discuss the proposed Bilateral Trade Agreement (BTA). Dry fruit importers are expecting a steep cut of nearly 50 per cent in import duties and are delaying clearances to avoid bearing losses if they clear the goods at the current price. However, the report citing industry insiders says that delaying the customs clearance could worsen the supply disruptions. The report mentioned that the dry fruit supplies were already impacted after the imports from Afghanistan were halted due to the closure of the Wagah border following the downgrading of the diplomatic ties between India and Pakistan and the Indian armed forces' subsequent launch of the Operation Sindoor, a coordinated missile strike targeting terror launch pads in Pakistan and Pakistan-occupied Kashmir. India imposes a 100 per cent tariff on US walnuts- kernels and in shells, and imposes a specific duty of ₹35 per kilogram on almonds in shells and ₹100 per kg on almond kernels. US President Donald Trump has often cited this tariff rate to support his argument that India is a high-tariff country. US imposes reciprocal tariffs On April 2, India, along with more than 100 countries, was charged with sweeping tariffs imposed by the US President. The US charged a 26 per cent tariff on India as compared to the 52 per cent tariff that India imposes on US-made goods. Since then, countries have been trying to negotiate a deal with the US to avoid the high tariff rate. On April 9, Trump announced a 90-day pause on tariffs, allowing these countries to secure a deal. As the deadline ended on July 9, only three countries were able to secure a deal: the UK, China, and Vietnam. While Trump and members of his administration, on several occasions, claimed that a deal with India would be finalised soon, a trade deal hasn't been finalised yet. Trump's August 1 deadline nears The visit by Commerce Ministry officials comes as Trump's August 1 deadline for imposing the tariffs is getting closer. The US President has ruled out extending the deadline again and has started sending out letters to several trading partners, announcing the new tariff rates to them. India-US trade deal A PTI report, citing an official, said, 'We are not differentiating between an interim or the first phase of the bilateral trade agreement. We are negotiating a complete deal. Whatever will be finished, we can package it as an interim deal, and for the rest, talks will continue'. Earlier this month, Indian officials were in Washington, trying to secure a deal. The negotiations took place from June 26 to July 2. India is seeking the removal of the additional tariff of 26 per cent, along with the easing of tariffs on steel and aluminium imports (50 per cent) and auto imports (25 per cent). According to the report, India and the US are looking to finalise the first tranche of the proposed bilateral trade agreement by fall (September-October) this year. They are also planning to establish an interim pact before the first tranche talks are concluded.
Yahoo
a day ago
- Entertainment
- Yahoo
When is Six Flags closing two parks? What we know about closing dates
Summer 2025 will be the final season for one state's only Six Flags location. Six Flags Entertainment announced the upcoming closure of Six Flags America and its accompanying waterpark, Hurricane Harbor, in a press release that called the move a "difficult decision." The Bowie, Maryland, location is the second planned closure announced by the company since May. Park closures: Six Flags plans to close this 49-year-old California park in 2027 "As part of our comprehensive review of our park portfolio, we have determined that Six Flags America and Hurricane Harbor are not a strategic fit with the company's long-term growth plan,' Six Flags President & CEO Richard A. Zimmerman said in a statement. The announcement was shortly followed by news that Six Flags California's Great America of Santa Clara, California, would also be closing, though not until 2027. The amusement company currently operates 42 parks across the United States, Mexico and Canada, according to its website. Six Flags America and its accompanying waterpark, Hurricane Harbor Maryland, will both close their gates for good at the end of the 2025 season. `According to Six Flags' press release announcing the closures, the location's final day will be Nov. 2, 2025. The parks' calendar details the specifics of the wind down, showing that both Hurricane Harbor and Six Flags America will begin operating on weekends only, plus Labor Day, beginning on Friday, Aug. 22. Hurricane Harbor will welcome its last guests on Saturday, Sept. 6, but Six Flags America will remain open on weekends through the Halloween season for Fright Fest, officially closing its gates to the public on Sunday, Nov. 2. Six Flags California's Great America won't close until the end of the 2027 season, unless the company chooses to extend or accelerate that timeline. The park was originally poised to close by 2033, then-owner Cedar Fair told CBS News in 2022. That date was bumped up after Cedar Fair and Six Flags merged in 2024, in part due to the park's lease expiring, USA TODAY previously reported. 'Unless we decide to extend, and exercise one of our options to extend that lease, that park's last year without that extension would be after the '27 season,' Six Flags' chief financial officer, Brian Witherow, told investors in May. This article originally appeared on USA TODAY: When are Six Flags America and California's Great America closing?
