Latest news with #closures
Yahoo
2 days ago
- Business
- Yahoo
Despite pending change in location, Cornucopia owners plan to stay true to mission
NORTHAMPTON — Cornucopia Natural Wellness Market will close its doors in Thornes Marketplace on June 30 in preparation for a move to a more sustainable location. Jade Jump and Nate Clifford, owners of the natural market that has been a mainstay in the Northampton community since 1980, are actively searching the region for a more affordable site. So far, when considering the realities of post-pandemic retail spaces, Holyoke and Easthampton are contenders, they said. 'Our mission has always been to bring good, clean, organic food to people who don't have easy access to it,' said Clifford, 'and that's part of the reason why Holyoke is so appealing.' The couple bought the natural grocery store in 2019 and, according to Jump, had 'the best year ever.' Then the pandemic hit. Cornucopia closed for three months and then reopened for curbside delivery before it was able to fully reopen as a store. According to Clifford, sales haven't been the same since then. Clifford said that, despite keeping a good profit margin and a tight expense record, sales have still been down 35% since 2019. 'The only way that we survived has been just being extremely scrappy,' said Clifford. 'Two years ago, we were like, 'This is what we need to get to in order to survive,' and we never got there. So we had to make the decision to leave before the decision was made for us.' Cornucopia is not an anomaly in downtown Northampton, though. Since 2019, it has been estimated that at least 20 local downtown businesses have closed their doors, according to local reports, altering the face of the shopping and restaurant mecca in the Valley. This total does not include local businesses that have moved to neighboring towns like Easthampton. When queried about the closures, Mayor Gina-Louise Sciarra's office issued a statement, wishing the business well in its endeavors. Vince Jackson, executive director of the Greater Northampton Chamber of Commerce, said that, while he is heartbroken to see Cornucopia leave, he doesn't believe high rents are a problem, as some new businesses continue to open their doors. 'Commercial rents on a square-foot basis have remained stable for well over 10 years,' said Jackson, citing chamber tallies. From his perspective, Clifford had to disagree. He said that, while people are shopping less post-pandemic, commercial rents in Northampton have stayed the same as pre-pandemic times. 'Retail is fundamentally different.' he said. 'We can only go by the numbers, and the data shows that we're down nearly 35% from a foot-traffic standpoint.' To prepare for moving costs, Cornucopia is having a storewide sale and has set up a GoFundMe account. While they are able to move without the GoFundMe, Clifford said that having an extra cushion will determine how much they can do in their new space. Throughout this change, both Clifford and Jump still value the community that has been a market pillar for decades. Clifford reflected on how the care from customers got him through when his father died unexpectedly last year. 'I just got hugs and support for weeks and weeks and weeks,' he said. 'I don't think people realize how much that helped me get through it.' Jump recalled pandemic times, when they were doing curbside deliveries while she was pregnant, working up until the day she gave birth. 'I think people see and realize that we are authentic, and we genuinely care, and we genuinely love what we do, and we want to make a difference,' she said. Community has long been an integral piece of the store's ethos. Jump and Clifford often have hand-delivered orders if a customer has a mobility or health problem and is unable to come to the store. The care has been reciprocal. Jump said 98% of the response to their move announcement has been supportive, with customers stating, 'wherever you go, we will follow.' Read the original article on MassLive.
CTV News
7 days ago
- Business
- CTV News
Over 8,000 Hudson's Bay employees will be out of work by Sunday
Toronto Watch Workers rallied to show their solidarity in the face of the closures. CTV's Allison Hurst reports.
CTV News
7 days ago
- Business
- CTV News
Local businesses are expressing concern about traffic changes in one midtown neighbourhood
Toronto Watch Transit users say the improvements are needed - however some business owners say they could result in closures. CTV's John Musselman reports.
Yahoo
7 days ago
- Business
- Yahoo
Office vacancy rises downtown, overall employment up report says
AUSTIN (KXAN) — Downtown Austin has entered a 'period of correction,' according to the Downtown Austin Alliance's 2025 economic impact report, with office vacancy around 22%. The report addresses things like: Past and ongoing projects Mobility Residential life Development Workforce Public Safety Culture 'Downtown is the cultural and economic heartbeat of our city,' Davon Barbour, president and CEO of the Downtown Austin Alliance said. 'This is a place where creativity thrives, businesses grow, and everyone is welcome. As we navigate major infrastructure projects, new development and population growth, our focus is on keeping downtown accessible, vibrant and open to all.' The boundaries of downtown, for the purpose of the report, is officially defined by the map below. The three primary industries utilizing office space downtown are financial services, professional services and law firms, according to the report. The DAA recognizes the changing needs for office space that have arisen since the pandemic, with more companies opting for remote or hybrid work models. This was also something heavily discussed in last year's State of Downtown report. Office vacancy rose from 17.3% in 2023 to 22% in 2024, and employees have returned to the office at 67% of 2019 levels. As the DAA recognizes this number highlights a steady shift in workplace trends, the organization is working to modify its office-space offerings. 'Although companies are seeking less space, they are prioritizing modern design and amenities to attract employees and clients; downtown officers a wealth of cutting-edge options,' the report reads. Downtown employment has increased by 14% since 2020. The below chart breaks that down. The building of the new convention center, which officially started last month, as well as other major downtown projects, 'will make downtown more vibrant and inclusive in the long term, [but] the interim construction and closures will affect how people move through and enjoy downtown. This will require city leaders to proactively address accessibility and minimize any potential negative impacts.' The current plan is to have the new facility done in late 2028 ahead of the 2029 spring festival season, which includes SXSW. 'In anticipation of the Convention Center's closure, we are actively workingwith partners to identify and inform the community on how downtown can continue to support festivals through small, local venues,' the DAA stated in the report. The DAA also said event organizers who usually use the convention center have reached out to nearby hotels about hosting events in the interim. The DAA has held several meetings over the last year and a half with the Austin Police Department (APD), security providers, government officials, residents and business owners and employees to address downtown safety concerns. This includes dedicated safety officers who patrol the area on bikes. While they don't have the authority to make arrests, they can assist in getting people off of private property if issues arise, and bridge the gap between the community and the police department. The team includes 25 staff members. Bike patrols run from 6 a.m. to 10 p.m. daily. Additionally, one person works overnight at Republic Square Park, and another staffer patrols from 5 p.m. to 3 a.m. Wednesday-Sunday in a marked vehicle. The report noted the two following trends when it comes to downtown crime: Crimes against people, property (e.g. attacks, burglaries) have decreased since 2019 Class C misdemeanor ordinance violations (e.g. camping in public, lying in rights of way, aggressive solicitation) have increased Crimes against society (drug crimes, weapons violations) have increased Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Sun
25-05-2025
- Business
- The Sun
Full list of Poundland closures this month as 200 stores at risk
POUNDLAND will have shut six locations by the end of the month - and hundreds more are at risk of closure. The bargain retailer has pulled the plug on five stores in the last couple of weeks. 1 This comes after a further 200 loss-making stores were identified as possible closures. 'As announced at the capital markets day on March 6, Pepco Group is moving away from fast-moving consumer goods to create a simpler business focused on higher-margin clothing and general merchandise and is actively exploring separation options for Poundland, including a potential sale, from the group,' a spokesperson for Poundland's parent company Pepco Group said. You can see the full list of closures this month below: Chiswick, High Road – closing May 28 Copdock Mill Interchange Ipswich, closed May 20. St George's Centre, Gravesend – closed last week Clapham Junction Station, London – closed May 2 Belle Vale Shopping Centre, Liverpool – closed May 6 Brackla, Wales – closed May 24 In March, Poundland was forced to shut its Belfast branch after the Connswater Shopping Centre was placed into receivership. The store closed its doors at the end of March, following a major closing-down sale. Back in October, residents of Maidenhead were similarly dismayed when their local Poundland branch closed. This came in addition to other closures, including its Sutton Coldfield store on October 5 and the Macclesfield branch last August, the latter closing due to the inability to secure a new lease agreement. WHAT IS GOING ON AT POUNDLAND? It follows reports that up to 200 stores could close as part of a rescue deal of the brand. Gordon Brothers, the ex-owner of Laura Ashley, has become the frontrunner to takeover the bargain chain, which recently announced a wave of store closures across the UK. Walkthrough Poundland's first £1million store Turnaround Investors were linked with a bid for Poundland. These firms specialise in buying up struggling businesses in the hopes of turning them around. Bidding for the business was expected to start this Tuesday. A source told The Sunday Times that Poundland would be priced at "effectively a pound." Several interested parties are reportedly looking at bidding on the UK budget retailer. Further store closures and job losses would come as a blow to the high street. Polish retail giant Pepco said it expects the sale of Poundland to complete by September. Last month, the parent firm is said have hired advisory firm Teneo to oversee the sale of the UK business. Poundland revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier. 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."
