Matalan have announced they will be closing their Seafield Road premises.
A sign outside the shop states the branch will be closing on February 5. The Matalan at Straiton Retail Park will continue to trade, according to bosses.
This comes just days after it was revealed that the TK Maxx at Meadowbank will be closing on February 15, after their landlord ended their lease. A second blow to Meadowbank Retail Park came shortly after, when the Marks and Spencer outlet announced they would be closing after failing to agree on a lease with their landlord.
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The M&S will close in Spring, with staff expected to be offered roles at other branches. What will replace both losses at Meadowbank is currently unknown.
Matalan changed hands earlier this month, when lenders for the company took ownership of the chain - ending the control of founder John Hargreaves’. The lenders have said they’re looking to support the future of its ‘stores, logistics network and website’.
The chain said recent profits have been ‘adversely affected’ by market conditions, and revealed their stock levels for autumn ‘proved to be too ambitious’ causing a £45 million extra inventory.
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Stephen Hill, Matalan chief financial officer, said: “As we transition to new ownership and having worked with John and the Hargreaves family for over 20 years, it would be remiss not to emphasise the contribution they have made to building the great business we have today and the many opportunities that lie ahead.
“On behalf of the Matalan team, I would like to express our sincere thanks and appreciation.
“It is clear in our third quarter and recent trading performance that whilst the market remains challenging, customers have demonstrated a strong affinity to our brand and proposition, evidenced from our robust and ongoing sales growth.
“However, the business must continue to adapt its approach to such market conditions, increasing its level of agility and margin resilience.”
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