Retailers exit high street with over 10,000 shops closed in 2023

At least 11 brands are closing some of their shops as retailers continue to leave the high street. The Centre for Retail Research reports that nearly 10,500 shops shut in 2023, resulting in 119,000 job losses. In the first half of 2024, 1,846 shops closed, leading to 23,982 job losses.

This month, several notable closures are happening. A shoe brand closed a store in Cambridgeshire on September 4. At its peak, the brand had 1,400 stores worldwide, but by July last year, only 320 remained, with more shutting since.

Homebase will close up to 12 branches this month following a major transfer of sites to Sainsbury’s, which has already taken over ten Homebase stores. Additionally, closures in Northampton and Cambridge have been announced outside of this deal. Homebase operates 144 locations across the UK but has closed 106 stores since 2018.

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Results of 3 1/2 Years in the Kamala Harris’ Economy

UPDATED: Stores Closing In 2024

– Rue 21 closing all 540 remaining stores after filing for chapter 11 bankruptcy
– Foot Locker is closing a total of 400 stores in mall locations (20% of their locations)
– Rite… pic.twitter.com/cD2ztRQUpj

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Beales department store closed its Southport branch on September 7 after 135 years in the building. The company, which fell into administration in 2020 and was purchased by a new owner in 2021, once operated 23 stores since its opening in 1881. Only one store remains in Poole.

A stationery chain shut two branches in Sale and Somerset over the past month. Since March 2023, it has closed eight stores, including in Manchester and Bicester, following a 4% sales drop. However, 1,400 stores are still operating nationwide, with plans to open 110 new shops this year in hospitals, stations, and airports.

Pizza Hut closed its Surrey Quays Leisure Park site on September 14 due to redevelopment plans in the area. Last month, it also closed its Dartford, Kent store, but 260 restaurants remain open in the UK. Despite its rapid expansion in the 1980s, mounting debt and a 7% sales decline last year during the cost-of-living crisis have put the chain at risk.

Blacks Outdoors will shut its Leicester branch on September 21, leaving the chain with over 70 stores. The company, which expanded in 1928, acquired the Outdoor Group, including Millets and Free Spirit, for £51 million in November 1999. In December 2011, the group entered a ‘pre-pack’ administration and was bought by JD Sports.

Bonmarché will close a branch in Arnold, Nottingham, next week due to a rent increase. Local MP Michael Payne expressed disappointment, noting the store’s importance to the community and its employment of dedicated staff. The company fell into administration in 2019 but saw a resurgence in popularity by the end of 2023.

Mike Ashley will close the Fraser’s branch in Middlesbrough in September. The retail tycoon bought House of Fraser in December 2020 and renamed it Frasers. The wider Frasers Group includes brands like Sports Direct and Jack Wills. A former House of Fraser store in Carlisle closed in May, and a Sports Direct branch in Stroud, Gloucestershire, closed in March.

Dockerills, a DIY store in Church Street, Brighton, will close this month, ending a 109-year run. The family business, established in 1915, has struggled with reduced footfall. The business announced the closure with a heavy heart, noting its long history in the North Laine community.

A health and beauty chain announced last year it would close 300 branches by the beginning of October, reducing its portfolio from around 2,200 to 1,900. The chain confirmed that no job losses among its 52,000 employees would occur.

Cineworld plans to close six UK sites as part of its major restructuring plan. Venues in Glasgow, Bedford, Hinckley, Loughborough, Yate, and Swindon will close over the coming months. Cineworld stated that the restructuring plan aims to return the company to profitability, attract further investment, and ensure a sustainable long-term future in the UK. If approved, the plan is expected to take effect at the end of the month.