A beloved high street shoe shop, popular among mums, has announced the closure of more locations as customers spot massive sale signs in-store.
Closure Confirmed in Norwich and Sunderland
The iconic retailer, with over 300 stores nationwide, has officially confirmed the permanent closure of its Norwich and Sunderland locations.
At the Riverside retail park in Norwich, shoppers can take advantage of the Clark's closing down sale, where purchasing a full-price item grants access to an additional item at a 50% discount.
The reason behind these closures is believed to be a rent hike as the building's lease is set to expire.
Similarly, the Sunderland branch in The Bridges shopping center has also closed its doors.
According to a Clarks spokesperson, "Clarks confirms its store at The Bridges Shopping Centre, Sunderland, has now closed. Customers can continue to shop from our full range of products online and at our nearby Clarks stores in Newcastle, Durham, and at our outlet store in Murton."
A Series of Store Closures
Clarks has experienced a number of store closures in the past year, including two in Kent, one in Dundee, and one in Fareham.
The brand recently announced the upcoming closure of its High Street Inverness store later this month, as well as the closure of its Westwood Cross Shopping Centre location in Kent in mid-November.
Earlier this year, several Clarks stores also shut down, with the Fareham Shopping Centre branch closing on August 5 and the Dundee store closing on July 25.
The company previously closed two stores in Kent, specifically in Ashford and Gillingham, at the end of 2022.
The reason for these closures has been attributed to a rent increase as the leases for these buildings approach their end.
Company Voluntary Arrangement (CVA)
A Company Voluntary Arrangement (CVA) was approved, resulting in the Clarks family losing overall control of the company.
A CVA is a measure that allows financially struggling businesses to explore methods of saving the company, such as negotiating reduced rent rates with landlords.
Companies often turn to a CVA to avoid insolvency, which could lead to closures or the collapse of the entire business.
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