The British high street is undergoing a dramatic transformation, with iconic names like Topshop, Debenhams, and House of Fraser already disappearing from the landscape. Now, a fresh wave of store closures is hitting the scene as four major brands make adjustments to keep pace with the ever-changing retail environment.
According to Helena Davies, head of retail and a specialist property litigator at law firm Brabners, the UK is witnessing a surge in store closures. “Last week, new figures published by PwC indicated that Britain’s bricks and mortar retailers are closing 12 stores more than they are opening each week – this in a period when towns and cities have seen footfall decline for 13 months in a row,” she said. This trend reflects the challenges facing physical retailers, including rising costs and the impact of the cost-of-living crisis on consumer spending.
Here’s a closer look at the four brands closing shops this month:
Bonmarché:
This fashion retailer, known for its clothing targeted towards women over 50, will shut its branch in Arnold, Nottingham, this weekend. The closure has sparked disappointment among local shoppers and garnered attention from Michael Payne, the local MP. “Bonmarché has been part of our community for many years, offering an essential service to numerous residents, including those with limited mobility who find it difficult to shop elsewhere or prefer not to shop online,” Payne shared on Facebook. He highlighted the store’s importance as an employer and a vital part of the community. While Bonmarché faced administration in 2019, it has since seen a resurgence and opened new branches in 2023. Despite the closure, the retailer has plans to expand its reach further in the coming years.Wetherspoons:
The iconic pub chain, a favorite among Britons, is facing a challenging period as well. Wetherspoons has announced a sale program, with a dozen pubs currently seeking new owners. These pubs are located across various cities including Cardiff, Swindon, and Felixstowe. While some pubs earmarked for sale last year remain open, the chain has indicated that those on the market could be axed within weeks, with the possibility of more closures by the end of 2024.Boots:
The health and beauty chain has been on a course of store closures since last year, aiming to reduce its portfolio from 2,200 to 1,900 by the beginning of October 2024. This move aims to save £618 million. Since June 2023, more than 580 Boots stores have closed, and more closures are expected in the coming weeks to meet the October deadline.Blacks Outdoors:
This outdoor clothing and equipment shop will shut its Leicester branch on Saturday, September 21, leaving the chain with just over 70 stores. Owned by JD Sports Fashion plc, Blacks has been expanding its product range and selling high-profile brands like The North Face and Berghaus since its acquisition in 2012.The closures highlight the evolving landscape of the British high street. While online shopping continues to grow, these closures underscore the challenges faced by physical retailers in adapting to the changing consumer habits and economic pressures. As the retail sector continues to evolve, it remains to be seen how these iconic brands will navigate the changing landscape and ensure their survival in the years to come.
