Hundreds of high street shops and restaurants have closed in the last few months, with seven more to close this week. New Look, Homebase, Wetherspoons, and WHSmith will all be pulling down the shutters on branches.
A difficult time for businesses
It comes following a difficult time for businesses struggling to bounce back after Covid. That, combined with rising energy bills, means it's been a tricky period for retailers. With costs high for shoppers too, it means that people have been cutting back on non-essentials and prices continue to skyrocket.
The rise of online shopping
There's also been a steady transition over to online shopping for many consumers, meaning that brick and mortar shops have been struggling. The hospitality industry has also been suffering. Food and pub chains have also closed the doors at several locations across the country, including Greene King pubs and Prezzo restaurants.
Marks and Spencer
The M&S store in Barnsley's town centre is set to shut its doors in days. Shoppers will be able to visit the store for the final time tomorrow. However, the very next day, a new M&S food hall is due to open in the local retail park.
Wetherspoons
The Foxley Hatch Wetherspoon in Purley will pull down its shutters for the final time on Sunday, December 3. The chain has warned that 32 pubs were being put up for sale, and 40 Wetherspoon pubs have shut their doors so far.
New Look
Clothing retailer New Look is shutting its shop in Shirley, Southampton, on Sunday, December 3, following a string of closures. However, the retailer recently opened stores in Grimsby and Leicester.
Homebase
Homebase will be closing one of its stores in Banbury, Oxford within days. The store is set to close its doors for the final time on Sunday, December 3. Homebase was taken over by Hilco Capital in 2018 and has closed 93 stores since then.
Lacoste
Fashion brand Lacoste will close the doors for the final time on one of its branches before Christmas. Its Leicester branch is located in the Highcross Shopping Centre in the town and will shut on Sunday, December 3.
WHSmith
WHSmith is all set to close its Market Street store in Manchester on Saturday, December 2. Earlier this year, the retailer closed two other branches. It is also set to shut its branch in Ramsgate, Kent, at the start of 2024.
Store openings
Despite the closures, it is not all bad news for shoppers as some retailers are expanding. Discount retailer Costco is planning to open 14 more warehouses over the next two years. Bonmarche is opening at least seven new stores, and The White Company is also opening up new locations. Patisserie Valerie has started reopening branches, and bakeries like Wenzels, Greggs, Dunkin' Donuts, and The Cornish Bakery are all in the process of expanding in the UK.
Did you miss our previous article…
https://hellofaread.com/money/youve-been-hanging-your-clothes-all-wrong-why-you-should-stop-putting-them-in-the-wardrobe/
