Ted Baker
Ted Baker is set to close 11 stores this week after hiring administrators due to financial troubles. The list of branches closing includes locations in Birmingham, Bristol, Liverpool One, and more. The retailer has already lost 245 jobs.
M&S
Marks and Spencer will be closing its store in Queensgate Shopping Centre, Peterborough, blaming changing customer shopping habits. The store, which was John Lewis’s flagship, will shut its doors for good on April 20, affecting the local community.
Superdry
Superdry is facing closure of a branch in Dundee, contributing to the struggles on the British high street. The store in the Overgate shopping centre will shut down on April 20, as the troubled fashion brand considers cost-saving options.
The Works
The Works will close two stores this month, including the Swansea branch on April 20. The discount retailer has been unable to negotiate suitable lease terms, leading to the closure of these locations. Shoppers express disappointment at the news.
Retailers facing challenges
Retailers are feeling the impact of the pandemic, with increased costs and changing consumer habits contributing to store closures. High energy costs, online shopping trends, and the cost of living crisis are key factors in the struggle faced by high street shops.
Future of UK retail
Despite closures, some retailers are planning to open new stores in the UK. Home Bargains, Tesco, Aldi, Screwfix, and Greggs are among those with expansion plans, showing a mix of challenges and opportunities in the retail landscape.
