The festive cheer of Christmas may be overshadowed by a looming retail apocalypse as a fresh wave of store closures threatens to wreak havoc for high street shoppers. With dwindling footfall, ongoing restructuring plans, and steep rents, numerous chains are being forced to close locations, leaving consumers scrambling for alternatives.
The latest data from the Centre for Retail Research paints a bleak picture. Nearly 10,500 UK shops permanently closed their doors in 2023, resulting in the loss of 119,000 jobs across the sector. The closures continued well into 2024, with 1,846 store closures recorded in the first half of the year and 23,982 retail jobs lost. This November, the trend shows no sign of slowing down, with established department store giants like Marks and Spencer and House of Fraser leading the charge.
A Wave of Departures
Marks and Spencer, a household name in British retail, will be closing one of its most iconic locations in Bluewater, Kent, at the end of November. The branch, which has been a fixture in the fifth-largest shopping center in the UK for 25 years, will cease operations on November 27th. Meanwhile, House of Fraser, another department store stalwart, is also experiencing significant closures. The company has already shuttered its Plymouth store due to “unforeseen circumstances” and its Cabot Circus store will be replaced by a Marks and Spencer location in 2025. The Lakeside Shopping Centre store closed its doors in January 2024. The closure of the Kent branch, one of the remaining 28 sites, comes just four years after businessman Mike Ashley saved the brand from collapse.
The closures extend beyond department stores. The popular M&S branch in Queensway, Crawley, will close on November 16th. Graham Bennett, M&S regional manager, attributed the closure to changing shopping habits. It is one of dozens of M&S branches slated for closure as part of the company’s 10-year restructuring plan. However, there may be a glimmer of hope for Crawley shoppers: M&S is “looking to invest” in a new Foodhall in the city center.
Homebase, the DIY chain, will also be bidding farewell to two branches in November. Following the announcement that 10 stores would close after Sainsbury’s acquisition, shoppers who frequent the Marsh Mills Retail Park in Plymouth and Southam Road shop in Banbury will need to find alternative options by the end of the month. The closures are part of a broader consolidation of sites for Homebase, which has already axed 93 stores since Hilco Capital took over the brand in 2018.
Decathlon, the French sporting goods retailer, will be closing one of its large retail park shops in Shropshire on November 3rd. The Forge Retail Park location in Telford will cease trading just six years after its opening. The company attributed the closure to a “brand refresh” and a “broader review” of its store network. While Decathlon has confirmed support for its staff members to continue working with the company where possible, the closure highlights the evolving retail landscape.
Adding to the growing list of closures, a Co-Op store in Meadows, Nottingham, will be shutting down after 50 years of serving the local community. The shop unit lease ending prompted the closure, which a Co-Op spokesperson described as a “difficult decision.” Co-op regularly reviews its stores, and while the company continues to open new locations, the recent closures demonstrate the challenges facing the retail sector.
Finally, JD Wetherspoon, the British pub giant, will close its Foot of the Walk bar in Leith, Edinburgh, on November 3rd. This closure comes after a Change.org petition, which garnered over 300 signatures, failed to save the pub.
Impact on Consumers and the Retail Landscape
The closure of these stores, along with numerous others, has a significant impact on consumers and the broader retail landscape. For shoppers, the closures mean fewer options, potential job losses, and a changing shopping experience. For the retail sector, the closures signify a continued decline in footfall, the rise of online shopping, and the challenges of maintaining profitability amidst changing consumer behavior and rising costs. As Christmas approaches, the looming threat of store closures adds another layer of uncertainty for UK shoppers and the future of the high street.
The closure of these stores raises questions about the future of the high street and the ability of brick-and-mortar retailers to adapt to changing consumer habits. As shoppers increasingly turn to online shopping, the pressure on traditional retailers to provide a compelling in-store experience is intensifying. The coming months will be crucial for retailers, as they grapple with the challenges of the changing retail landscape and the need to attract and retain customers.
