Results for: Retail Closures

Major retailers Costa Coffee, House of Fraser, and Marks and Spencer are closing several UK stores before the end of May. Marks and Spencer’s Broadway Shopping Centre branch will close on May 18th, while Costa Coffee’s Uppingham location and House of Fraser’s Carlisle store will also close this month. These closures are part of a wider trend of store closures on UK high streets, with factors such as changing shopping habits and the rise of e-commerce contributing to the decline of brick-and-mortar retail.

Clarks, the renowned shoe retailer, has experienced a string of store closures in recent years, with several more planned for 2024. This follows a succession of closures in 2022 and 2023, leaving the brand with a significantly reduced presence on the high street. Despite the closures, Clarks remains committed to its employees and customers, opening new stores in select locations.

The popular bakery chain Patisserie Valerie has closed its café in Nottingham city center. This comes as a blow to Nottingham’s high street, as the bakery has been a staple in Exchange Arcade since 2012. The closure is part of a wider trend of major retailers shutting branches across the UK due to the impact of the pandemic, rising energy costs, and shoppers cutting back on spending. Despite this, other retailers and eateries are expanding in the UK, including discount retailer Costco, which plans to open 14 new warehouses in the next two years.

Another blow to the British high street as Clarks shoe store in Abingdon shuts down, leaving customers devastated. Experts cite a combination of factors including rising costs, reduced spending, and the impact of online shopping as contributing to the closure. The number of job losses in the retail sector remains significant, with experts warning of further failures in the coming year.

Express Inc., a former leader in casual office attire, has filed for Chapter 11 bankruptcy protection and plans to sell the majority of its stores. The company, faced with fierce competition from fast fashion giants like Zara and H&M, will close 95 Express stores and all 10 UpWest locations. Express has received a letter of intent from WHP Global, Simon Property Group, and Brookfield Properties for the potential purchase of its operations.

Clothing retailer Express Inc. has filed for Chapter 11 bankruptcy and announced plans to sell a majority of its stores to a consortium led by WHP Global, Simon Property Group, and Brookfield Properties. The company has received a $35 million financing commitment and $49 million from the CARES Act to facilitate the sale. Express will close approximately 95 Express retail stores and all UpWest stores.