Residents Disheartened as Menkind Announces Closure
Residents in Salisbury, Wiltshire, are feeling disheartened after the announcement that gadget retailer Menkind will be closing its branch in the Old George Mall. The shop, which opened just five months ago, has already begun a closing down sale and will shut its doors for the final time on January 31. Menkind, known for selling gifts and gadgets, operates 64 stores across the UK.
Reasons Behind Retail Closures
The closure of Menkind's Salisbury branch adds to the growing number of retail closures in the UK. Last year, over 10,000 shops closed permanently, resulting in 120,000 job losses. The rise of online retail, coupled with high inflation and rising costs for businesses, has put a strain on the high street. Major retailers such as Boots, Wilko, and Paperchase have been forced to close stores and cut jobs as a result.
Positive Outlook for Some Retailers
While many retailers are struggling, some are finding success in the current market. Poundland and B&M have been expanding their store portfolios, and Wilko has relaunched online and reopened some physical branches. Paperchase has also opened hundreds of concession stores inside Tesco branches. The retail sector continues to adapt and evolve in the ever-changing digital landscape.
Did you miss our previous article…
https://hellofaread.com/money/walkers-crisps-confirms-discontinuation-of-beloved-cheese-flavour/
