With numerous major retailers announcing store closures across Scotland, the high street is facing more major blows this year.
In just the past few weeks, retailers including M&Co, TK Maxx, M&S, New Look and Paperchase have all confirmed they will be permanently closing stores in certain parts across the country.
The latest blow to the Scottish high-street comes as some businesses have recorded a decline in sales as shoppers choose to spend less money amid the cost of living crisis.
According to the Office For National Statistics (ONS) retail sales fell by 0.5% in November 2022 before falling a further 1% in December 2022, with sale volumes being 1.7% below their pre-coronavirus February levels.
High street stores across Scotland have faced many challenges in the past few years following lockdown, which led to a decline in shoppers spending money in stores as they opted to shop online.
In fact, the decline in shopper footfall led to major stores including Debenhams, Topshop, Thorntons, Disney, Dorothy Perkins and more to officially shut up shop permanently.
A decline in sales is not the only reason stores are closing this year, as some retailers have confirmed that closures are down to lease agreements and normal business. Here are all the retailers and locations that are set to close across Scotland this year.
What retailers are closing in 2023?
M&Co
Scottish clothing chain M&Co confirmed that it will be closing the doors to all of its 170 stores across the UK in Spring this year after collapsing into administration at the end of 2022.
The Renfrewshire-based company, which originated as a pawnbrokers known as Mackays, currently operates 46 stores across Scotland which will close for good.
Following its collapse into administration in December 2022, the brand was bought over by AK Retail Holdings, owner of Yours Clothing, in a deal that did not include physical stores, meaning they will now close at Easter.
M&Co's statement on Facebook read: "Unfortunately we haven't received the news we would have hoped for during our administration period, and would like to share this news with you.
"As we haven't received any funded, deliverable offers that would result in the transfer of the company's stores or staff to a potential buyer, this means that all of our stores will close."
The stores across Scotland closing are;
- Airdrie
- Alexandria
- Ayr
- Banff
- Bathgate
- Bellshill
- Berwick
- Blairgowrie
- Broughty Ferry
- Buckie
- Castle Douglas
- Dingwall
- Dunoon
- Elgin
- Forfar
- Fort William
- Glenrothes
- Haddington
- Hawick
- Helensborough
- Inverness
- Inverurie
- Irvine
- Johnstone
- Kirkintilloch
- Lanark
- Largs
- Lerwick
- Milngavie
- Montrose
- Musselburgh
- Nairn
- Newton Mearns
- Oban
- Orkney
- Paisley
- Perth
- Peterhead
- Saltcoats
- Sw Andrews
- Stonehaven
- Stornoway
- Thurso
- Troon
- Wick
- Wishaw
Paperchase
Stationary chain Paperchase is set to close the doors to all of its stores across Scotland - despite being rescued by Tesco.
The high-street store was rescued by the supermarket giant just hours after it collapsed into administration on January 31, though the deal did not include physical stores.
It means that the Paperchase brand will now be stocked at Tesco stores, leading to standalone and concession Paperchase stores to close down permanently.
Stores across Scotland closing their doors are;
- Braehead
- Dundee
- Edinburgh
- Edinburgh Morningside
- Glasgow Buchanan
- Next Kirkcaldy
- Next Straiton
- Perth
- St Andrews
- Silverburn
TK Maxx
TK Maxx and Homesense announced a few stores would be closing across the UK last week, with one store in Scotland's capital city set for closure.
The retailer is set to close its Edinburgh Meadowbank Shopping Park Location this week on Wednesday, February 15 after the building's landlord decided to pull the lease.
A spokesperson for the retailer has said the intention is that "all associates will be offered roles in other local TK Maxx and Homesense stores."
Marks and Spencer
M&S is also set to close the doors to its store located in Edinburgh's Meadowbank Shopping Park after failing to renew its lease - just weeks after TK Maxx.
The M&S Outlet store based in the shopping park is set to cease trading in the Spring with staff expected to be offered roles at other stores across the city.
In a statement, Emily Butterfield, regional manager for M&S, said: “Following discussions with our landlord, they have decided the lease on our Meadowbank outlet store will end and we have today announced to colleagues that it will sadly be closing in the Spring.
“Our priority is to support our colleagues through these changes, and our aim is to look for roles in nearby stores.
“The way people shop is changing, and we are reshaping our store estate to respond to this.
“In the last three years, we’ve unveiled two of Scotland’s first new-look food halls within our Edinburgh Gyle and Straiton stores and we selected our Princes Street store to offer a bespoke Jaeger collection.
“We want to thank both our brilliant colleagues and our loyal customers who can continue to shop in our seven other stores across the city including our Princes Street store less than two miles away.”
New Look
Fashion retailer New Look confirmed last week that it was closing the doors to six stores across the UK, with one store in Scotland affected by the closures.
The high-street store closed the doors to the Kirckaldy branch earlier this month, with bosses saying it was a "normal course of business."
A spokesperson for New Look told the Daily Record: "As part of the normal course of business, New Look occasionally closes sites, but also opens new stores when the right opportunities arise. While a small number of stores have closed in recent months, our most recent new openings were in November 2022 and we have plans for further openings in the first half of this year."
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