Another Closure on the Horizon
Boots, the popular pharmacy retailer, is preparing to close yet another high street store in the coming weeks. This announcement comes after the company revealed plans to shut down 300 of its stores across the UK.
Uppingham Road Branch in Leicester
Boots will be closing its Uppingham Road branch, located in Leicester, on Saturday October 14. The final trading day for this store will be October 13.
Part of Wider Plans
This closure is part of Boots' larger strategy to reduce its total number of stores from 2,200 to 1,900. While the company did not initially disclose which stores would be closing when it first announced the plans in June, a few locations have already shut their doors.
Previous Store Closures in 2023
Since the start of 2023, Boots has already closed several stores across the UK, including branches in Holywell (Flintshire, Wales), Greater Manchester, Malvern, Ellesmere, London, Woking, UEA campus, and Westcliff. These closures are part of the ongoing restructuring efforts.
Further Closures Confirmed
In addition to the stores that have already closed, Boots has confirmed the closure of another six stores by the end of the year. These locations include branches in Wakefield, Glastonbury, Woking, Great Yarmouth, and Prudhoe. Specific dates for some of these closures have not yet been announced.
Challenges in the Retail Industry
Boots previously closed over 200 stores in a span of 18 months in 2019. The pharmacy chain is not the only one facing challenges, as Lloyds also closed all of its sites within Sainsbury's stores this year after struggling with financial losses for several years.
The retail industry as a whole has been hit hard by the pandemic, with consumers cutting back on spending and a shift towards online shopping. High energy costs and a decrease in footfall have also added to the struggles faced by brick and mortar stores.
Wilko's Uncertain Future
Adding to the difficulties in the retail sector, discount retailer Wilko is currently at risk as it has fallen into administration. With 400 branches under threat, the company is expected to inform employees that a takeover of the entire business will not be proceeding. This news follows concerns about the credibility of M2 Capital, the potential buyer.
The closure of high street stores and the challenges faced by retailers continue to be ongoing issues in the UK.
