As the cost of living crisis causes people to be more careful with what they spend, a number of the UK's most well-loved high-street retailers have decided to close some of their stores. Giants including B&M, TK Maxx's Homesense, Iceland and M&S have all announced closures, with many coming in the next few days and weeks.
An estimated 50 shops closed each day last year, as retailers struggled with soaring energy prices, wider inflation and online shopping, according to the Centre for Retail Research (CRR). The Coronavirus pandemic also led to a drop in footfall, putting a strain on high-street stores.
Around 15,000 stores are expected to close across the UK this year, according to the expert research and analysis foundation, with Professor Joshua Bamfield, CRR director, saying that even “big hitters” may go under.
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Some stores are closing for good, but others are moving to different locations or shutting to make way for larger stores – so it's not all bad news. Here are the stores closing this month, as reported by the Mirror :
Argos
Argos will shut its standalone store at the Pyramids Shopping Centre in Birkenhead, Merseyside, tomorrow (Mar 22). The chain's branch at Coatbridge in Lanarkshire closed on March 11.
In July, the Cardiff Bay store will also close, with another Welsh branch in Newport also closing forever in the summer. It comes as part of a wider plan to move more standalone Argos branches into Sainsbury's stores.
B&M
On March 26, B&M will shut its Kilmarnock store in Queens Drive Retail Park, following the opening of a larger store in Glencairn Retail Park last month. The store in Bristol's Broadwalk Shopping Centre will also close on March 29. It comes after the budget retailer closed its store in Maesglas Retail Park in Newport, Wales, on March 4.
However, B&M is planning on opening more stores this year. A new branch opened in Barnsley on March 4 and it will soon take over the old Debenhams in Scunthorpe.
Iceland
Three Iceland stores will shut by the end of March. First, on March 25, the South Street store in Newport, Isle of Wight, and the St Catherine's Place branch, in Bedminster, Bristol will clsoe.
Then on March 27, the Iceland at the Deiniol Centre in Bangor will shut. It follows the closure of the site in the White Rose Centre in Rhyl on March 14.
Clintons
The Clintons Cards shop in King Street, Whitehaven closed on March 19 and the store on Market Street in Bolton is set to follow by the end of the month – although a specific date has not been confirmed.
Homesense
Homesense is a subsidiary of TK Maxx, selling homeware produces like ornaments, storage, home décor and plants. The Swansea branch will shut by the end of the month, although no specific date has been confirmed. It follows the closure of the Arndale Centre store in Manchester earlier this month.
A spokesperson for TK Maxx said: “Our senior managers have been in store supporting the team. We’re currently in consultation with all affected associates and our intention is that all associates will be offered roles in other local TK Maxx or Homesense stores.”
Marks & Spencer
M&S will close its Fenchurch street shop in London on March 31. The luxury supermarket said last year that it would close 67 of its larger stores as part of a huge overhaul of the business.
M&Co
M&Co will shut its Wick and Fort William stores on March 25, with six more sites following on April 1, in Lewes, Gosport, Belper, Beccles, Newquay and Lerwick. It follows the chain falling into administration for the second time in two years in December 2022.
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