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It isn't the lone closure the precocious thoroughfare has faced successful caller months
- Published: 18:27, 17 Oct 2024
- Updated: 18:27, 17 Oct 2024
A MAJOR discounter with implicit 850 locations is acceptable to adjacent a subdivision aft conscionable 1 twelvemonth connected the precocious street.
Despite the store successful Maidenhead, Berkshire closing temporarily to hole its crumbling ceiling from h2o damage, its trading days person sadly travel to an end.
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Poundland connected Maidenhead High Street volition adjacent for bully connected October 18 owed to failing to unafraid an statement with its landlord.
The retailer, with implicit 850 locations, replaced what was erstwhile a Wilko backmost successful 2023.
A Poundland spokesperson said: "I'm acrophobic we've been incapable to unafraid an statement with our landlord that would alteration america to support the store trading successful Maidenhead.
"We cognize this volition beryllium disappointing to customers and we're atrocious we'll beryllium closing connected 18 October.
"It goes without saying we'll beryllium doing each we tin to look aft colleagues that enactment there."
Over the past year, Maidenhead High Street has faced respective different store closures.
Clarks unopen its doors connected the precocious thoroughfare successful June, portion the Barclays subdivision closed for the last clip successful May.
Greens Restaurant Closure
Poundland had undergone an enlargement past twelvemonth erstwhile it took implicit 71 ex-Wilko stores aft the retailer fell into administration.
But since then, Poundland's in Ellesmere Port, Galashiels, Scotland, and the Sailmakers Shopping Centre in Ipswich person each closed.
Along with a Poundland store successful southbound Macclesfieldand different in Altrincham, Greater Manchester.
Despite this, earlier this twelvemonth the retailer pledged to revamp 150 stores by extremity of August with caller signage, flooring, lighting and ranges.
It besides aimed to person unit areas made implicit to marque them amended places to work.
Why are retailers closing stores?
RETAILERS person been feeling the compression since the pandemic, portion shoppers are cutting backmost connected spending owed to the soaring outgo of surviving crisis.
High energy costs and a determination to buying online aft the pandemic are besides taking a toll, and galore precocious thoroughfare shops person struggled to support going.
The precocious thoroughfare has seen a full raft of closures implicit the past year, and much are coming.
The fig of jobs mislaid successful British retail dropped past year, but 120,000 radical inactive mislaid their employment, figures person suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the past clip during 2023, and 119,405 jobs were mislaid successful the sector.
It was less shops than had been mislaid for respective years, and a simplification from 151,641 jobs mislaid successful 2022.
The centre's director, Professor Joshua Bamfield, said the betterment is "less bad" than good.
Although determination were immoderate big-name losses from the precocious street, including Wilko, galore ample companies had already gone bust earlier 2022, the centre said, specified arsenic Topshop proprietor Arcadia, Jessops and Debenhams.
"The cost-of-living crisis, ostentation and increases successful involvement rates person led galore consumers to tighten their belts, reducing retail spend," Prof Bamfield said.
"Retailers themselves person suffered expanding vigor and occupancy costs, unit shortages and falling request that person made rebuilding profits aft extended store closures during the pandemic exceptionally difficult."
Alongside Wilko, which employed astir 12,000 radical erstwhile it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said astir stores were closed due to the fact that companies were trying to reorganise and chopped costs alternatively than the concern failing.
However, experts person warned determination volition apt beryllium much failures this twelvemonth arsenic consumers support their belts choky and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to person already collapsed into medication this year.
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