Shutters Coming Down in January
Shoppers in Bristol are in mourning as popular fashion retailer Jack Wills has announced the closure of its store in the Galleries shopping centre. The doors will close for the last time in January, leaving shoppers devastated. The closure comes as the company reportedly cited redevelopment as the reason for shutting down the store. The closure sale has already begun, with customers able to enjoy a 20% discount on items.
Jack Wills' Troubles Continue
This isn't the first closure for Jack Wills, as the brand has faced challenges in recent years. In October, the retailer closed its last Scottish store in St Andrews. The closure in Bristol follows Jack Wills' acquisition by Mike Ashley's Sports Direct in August 2019. Ashley's Frasers Group purchased the struggling business for £12.75 million. At the time of the acquisition, Jack Wills had 110 stores across the UK and Ireland.
The Rise and Decline of Jack Wills
Jack Wills was founded in 1999 as a single shop in Devon. The brand gained popularity in the mid-2000s, particularly among sixth-formers and university students. However, its appeal waned in the following years as fashion trends shifted towards grungier styles. The closure of several stores in recent months reflects the company's struggle to adapt to changing consumer preferences.
Retailers Facing Challenges
The closure of Jack Wills' Bristol store is part of a wider trend in the retail industry. Rising living costs, inflation, and energy expenses have taken a toll on retailers. Shoppers have been cutting back on spending, while the cost of operating stores has increased. The British Retail Consortium (BRC) reported that the UK lost 6,000 stores over the past five years. Several major brands have collapsed and closed stores as a result.
Some Retailers Bucking the Trend
While some retailers are struggling, others are finding ways to thrive. Discount retailer Costco, for example, is planning to open 14 new warehouses in the UK over the next two years. Bonmarche, which filed for administration in 2019, is opening at least seven new stores. The White Company is also set to open new stores in October and November. Patisserie Valerie, once a prominent bakery chain that collapsed into administration, has started reopening branches. And Wilko shops are set to return to the UK high street after the chain's recent collapse.
It's not all doom and gloom for shoppers, as several bakeries, including Wenzels, Greggs, Dunkin' Donuts, and The Cornish Bakery, are expanding in the UK.
