Latest news with #highStreet
The Sun
2 days ago
- Business
- The Sun
Popular chain with more than 1,600 stores to ‘close high street branch' in blow to shoppers
SHOPPERS were saddened to hear a popular chain with more than 1,600 stores is set to close a beloved branch. Holland & Barrett are reportedly shuttering a once-thriving site imminently, in yet another blow to the high street. 1 Residents in Inverness, Scotland, were disappointed to see a "closing soon" sign taped to their local store. "We're sorry this store is closing soon but you can still shop at it read. Holland & Barrett is one of the UK's leading health stores and is known for selling a range of vitamins, vegan food and beauty products. The company have not given an official shut down date as of yet, as reported by the Inverness Courier. It is understood the lease on the shop may be up for renewal soon, which may have led to decisions being made around potential closure. However, it is not known whether Holland & Barrett could re-open at a new site nearby. This comes after the company announced plans to roll out more than 30 new UK stores as part of a three-year mission. It will also be transforming 320 existing sites, as well as launching new brands both in the UK and internationally. And, in its annual report, Holland & Barrett recorded double-digit growth for the second year running. The firm boasted a 10 per cent year-on-year sales growth in the last financial year, and £524.2million in profit. Scottish vintage clothing store launches huge closing down sale with 80% off It added: "As a result, confidence is high that the company will see a third consecutive year of strong growth driven by the significant acceleration of online in fiscal year 2025." Holland & Barrett were contacted for comment This comes follows the closure of a branch on Hanley's high street in Stoke on Trent bit the dust. They were forced to relocate, and ahead of the move, Holland & Barrett said: "We can confirm we will be closing H&B Hanley later next month and opening our new, bigger and better store in The Potteries Centre. 'We are delighted to be opening a larger store with an even wider range of products and an increased store team of experts to support the community on their wellness journeys. 'We look forward to welcoming our customers from our Hanley store soon.' Meanwhile, not long ago the company confirmed its shops in Chard, Somerset, and Frinton-on-Sea, Essex, would be closing their doors. This comes ahead of more closured from major retailers this month as the high street continues to face difficulties. This year businesses have faced increased costs due to Government changes announced in the Budget. An increase in employer National Insurance contributions, energy and rent costs and lower customer footfall have all piled on pressure. As a result, some retailers have been forced to hike prices, review expansion plans and reduce the number of stores they have. But remember, retailers regularly close shops for a number of reasons, not just because they are struggling. For example, they may have a nearby store that is performing better or may want to move to a location that will have a higher footfall, such as a retail park. Here is a full list of the shops we know are shutting in June 2025. They include, but aren't limited to, The Original Factory Shop, Poundland, and The Works. 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
26-05-2025
- Business
- Yahoo
Empty shops prompt 'ghost town' fears
The number of empty shops in County Durham is at its highest rate ever, a report has found. Peterlee, Bishop Auckland, and Newton Aycliffe are the worst hit, while Ferryhill, Shildon, Consett, and Barnard Castle have also suffered heavily in the past year. Overall, vacancy rates recently increased to 18.3%, compared with the national average of 14.4%. However, one local retail consultant said work was being done to tackle the issue, adding "despite all the challenges, we continue to see good-quality independent and national businesses opening and seeking space in the region's town and city centres". High streets across County Durham have continued to suffer when high-profile retailers leave prominent sites, with closures fuelled by changing shopping habits and rising rent. The number of pharmacies, banks, and supermarkets have also decreased, but there were about 33% more takeaway outlets in 2024 compared with 2014. The Local Democracy Reporting Service said the report, Ghost Towns: The Decline of the High Street and Health Inequalities, argued for more "people-friendly" spaces, with seating, public toilets and pedestrianised areas to increase footfall. Graham Soult, a North East-based retail consultant, warned that the declining state of local high streets should not be sensationalised. "Local place leaders on the ground, in this region and beyond, are already working hard to tackle those issues and help facilitate the very change that the report's authors advocate", he said. Residents in Bishop Auckland and Spennymoor have been invited to take part in decision-making and new powers such as High Street Rental Auctions, to help redevelop derelict properties, are set to be introduced in Darlington. Mr Soult, who previously worked on the government's High Streets Task Force, said: "It is particularly disappointing that the report does not provide a platform to celebrate case studies of the good practice it is pushing for. "The question we need to be asking is how we can all work together to make even more of that good stuff happen." Follow BBC North East on X, Facebook, Nextdoor and Instagram. Can pop-up shops help to regenerate our High Streets? Council buys shopping centre for town regeneration Durham County Council
Times
20-05-2025
- Business
- Times
Greggs bounces back from rocky start to the year
Strong appetite for peach iced tea, mint lemonade and pizza helped improve sales at the bakery chain Greggs in recent weeks, giving management confidence the company will deliver on expectations this year. Shares in the company, which have shed a quarter of their value since the start of the year, jumped as much as 8 per cent in morning trading. The high street purveyor of sausage rolls and steak bakes said like-for-like sales at its company-managed shops rose 2.9 per cent in the first 20 weeks of its financial year, citing 'better trading conditions'. Total sales for the period rose 7.4 per cent to £784 million. The rise in sales follows a disappointing start to the year, with sales in the first nine weeks
The Independent
20-05-2025
- Business
- The Independent
Greggs sales pick up amid boost from ‘viral' mac and cheese
Sales have picked up at Greggs in recent weeks after the chain was boosted by new iced drinks and its viral Mac and Cheese. The high street bakery chain said it has also benefited from 'better trading conditions' as growth accelerated following a slower start to the year. Greggs said that new products are 'playing its part' in stronger sales, reporting that its new peach iced tea and mint lemonade drinks are 'performing well'. It added that hot food items are also popular, with strong sales of its fried chicken goujons, pizza boxes and potato wedges. The retailer's recently launched Mac and Cheese has also sold well after going 'viral on TikTok' earlier this year, with Greggs rolling it out to all stores last month as a result. The company, which runs 2,638 shops, said total sales rose by 7.4% to £784 million for the first 20 weeks of 2025. Like-for-like sales grew by 2.9% over the period on the back of stronger trading over the past 11 weeks, while overall sales were also supported by new shops. The chain opened 66 new stores over the period, although it significantly offset these by closing 46 stores – which included 21 relocations. Boss Roisin Currie said it is part of the company's strategy to open larger stores, shutting some smaller high street stores down as a result. She said the group's expanded range of products, click and collect and delivery service means some of its traditional shops are not fit for purpose. Greggs said it is still confident that it can grow its estate by between 140 and 150 net stores this year. The update came as Greggs continues to battle rising shoplifting across its shops, with the business confirming earlier this week that it has put sandwiches and drinks behind counters in some of its stores as a deterrent. The bakery chain typically displays the items in self-service fridges but has ditched this in at least five stores due to a spate of thefts. Ms Currie told the PA news agency that there is a 'significant' cost caused by thefts in some areas, driving the company to launch security initiatives, which also include body-worn cameras.
Yahoo
20-05-2025
- Business
- Yahoo
Greggs sales pick up amid boost from ‘viral' mac and cheese
Sales have picked up at Greggs in recent weeks after the chain was boosted by new iced drinks and its viral Mac and Cheese. The high street bakery chain said it has also benefited from 'better trading conditions' as growth accelerated following a slower start to the year. Greggs said that new products are 'playing its part' in stronger sales, reporting that its new peach iced tea and mint lemonade drinks are 'performing well'. It added that hot food items are also popular, with strong sales of its fried chicken goujons, pizza boxes and potato wedges. The retailer's recently launched Mac and Cheese has also sold well after going 'viral on TikTok' earlier this year, with Greggs rolling it out to all stores last month as a result. The company, which runs 2,638 shops, said total sales rose by 7.4% to £784 million for the first 20 weeks of 2025. Like-for-like sales grew by 2.9% over the period on the back of stronger trading over the past 11 weeks, while overall sales were also supported by new shops. The chain opened 66 new stores over the period, although it significantly offset these by closing 46 stores – which included 21 relocations. Boss Roisin Currie said it is part of the company's strategy to open larger stores, shutting some smaller high street stores down as a result. She said the group's expanded range of products, click and collect and delivery service means some of its traditional shops are not fit for purpose. Greggs said it is still confident that it can grow its estate by between 140 and 150 net stores this year. The update came as Greggs continues to battle rising shoplifting across its shops, with the business confirming earlier this week that it has put sandwiches and drinks behind counters in some of its stores as a deterrent. The bakery chain typically displays the items in self-service fridges but has ditched this in at least five stores due to a spate of thefts. Ms Currie told the PA news agency that there is a 'significant' cost caused by thefts in some areas, driving the company to launch security initiatives, which also include body-worn cameras.
