A HUGE fashion brand has started closing stores after the owner of some branches decided to shut down its operations.
Superdry has confirmed to HOAR it is in the process of closing eight of its 104 stores across the UK.
The owner of the eight Superdry stores is in the process of closing all branches
The retailer denied that the move is part of the £35million cost-cutting measures it announced earlier this year.
Instead, it said the decision lies with the independent owner who operates the eight stores.
In April, Superdry revealed cost-cutting plans which included “estate optimisation”, indicating some shops could close.
Since then, five stores appear to have shut with three more due to close, although Superdry said they are all still in the process of closing.
The stores that have closed or are closing as part of this round of cuts are:
- Stoke On Trent – closed mid-May
- Ipswich – closed on June 7
- Luton – closed on July 3
- Telford – closed on July 4
- Lincoln – closed on July 10
- Bury St Edmunds – in the process of closing
A further two stores are set to close, but Superdry has not yet confirmed the exact locations. We will update this story when we hear back.
A spokesperson for Superdry said: “We can confirm that eight stores operated by our franchisee under licence from Superdry, are in the process of closing.
“The majority of Superdry’s stores in the UK are operated directly by Superdry and there are no plans to close any of them at the present time.”
The latest closures come amid a tumultuous time for the high street, with several major retailers announcing store closures.
Shoppers have been cutting back spending due to soaring inflation.
When prices are going up it squeezes people’s incomes, meaning many are forced to shop less – and that’s bad news for retailers.
High energy costs and a shift towards online shopping since the pandemic have also taken a toll on the high street.
HOAR revealed yesterday that Boots is closing down the first of its 300 stores within the next few weeks.
Fashion brand New Look is also shutting some stores in the next few weeks and has already axed several branches this year.
You can find your closest Superdry store by using its store locator tool on its website – just put in your postcode or nearest city.
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