2 days Ago By Adele Cooke
A HIGH street charity shop has launched a huge closing down sale as it prepares to close for good next week. Scope charity shop in Binford Place, Bridgwater, will shut its doors for good on March 29. 1 Scope in Binford Place, Bridgwater will close for good on March 29 Credit: Alamy It is offering 50% off everything in store including clothing, accessories, homeware and books.
A social media post about the closure said: “We are sad to say we will be closing down and our final day of trading will be Saturday 29th March. “It’s the final chance to grab a bargain at Scope Bridgwater..
. Come and shop while stocks last - once it’s gone, it’s gone!” Locals took to social media to voice their disappointment at the shop closing. Read more on shops closing CLOSING TIME WHSmith closing another high street store ahead of shutting 9 shops in WEEKS SHUT UP SHOP Beloved mum-run baby shop suddenly closes after just one year One said: “One of the best charity shops that actually charges reasonable prices, sad to see it go.
” Another said: “Very sorry to see you go.” While a third added: “Thank you for your service.” In January the disability charity announced that it was considering shuttering 77 of its 138 shops.
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Why are so many pubs and bars closing? At the time he said: "Despite our teams' best efforts our shops are collectively now losing money when taking account of all of their costs. A number make strong profits but there are loss making shops too. “This situation isn’t confined to Scope.
All retailers have been hit with a greater shift to online shopping.” He added that the chain has faced rising rents, soaring energy costs, increased staff costs and the cost of living squeezing customers. He added: “As a result, and to ensure our funds are best focused upon our charitable purpose, we have let our teams know that we will be putting forward proposals to close some of our shops, in stages, over the next 18 months.
” Why are retailers closing shops? EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline. The Sun's business editor Ashley Armstrong explains why so many retailers are shutting their doors. In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.
Falling store sales and rising staff costs have made it even more expensive for shops to stay open. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 2025, will cost the retail sector £2.3billion.
At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.
In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed. The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.
Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead. In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few. What's increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.
They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places. The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year. The closures will lead to a number of job losses and will impact volunteers.
The proposal suggested the first 41 shops could close by March 31, 2025. A further 31 shops would then shut between April 1, 2025 and March 31, 2026. The final phase of five more shops would shut when their leases come up for renewal or when there is a break.
Scope has already closed at least 22 underperforming shops in locations including Haywards Heath and Southampton. Retail sector struggles The retail sector has been hit hard in the past couple of years as customers continue to shop online. Shoppers are still also feeling the pinch as sky-high inflation has dented their wallets.
These factors have led to a number of major retailers closing stores to shore up their finances. The Centre for Retail Research's latest analysis suggests 13,479 stores, the equivalent of 37 each day, shut for good in 2024. Of those, 11,341 were independent shops while 2,138 were shut by larger retailers.
The data also showed over half of the shops that closed last year were shut due to the store or retailer going through insolvency proceedings. This is when formal measures are taken to deal with tackling a business's debt. Meanwhile, changes to Employer National Insurance contributions and an increase in the National Living Wage are also putting pressure on retailers.
From next month the amount employers will need to hand over in National Insurance will rise from 13.8% to 15%. At the same time the National Living Wage will rise by 77p an hour to £12.
21. Retailers have already warned that they will need to put up prices or scale back on expansion plans to cope. New Look is closing stores ahead of the National Insurance hike .
Around a quarter of its 364 stores are at risk when their lease expires. This is equivalent to around 91 stores, which could have a big impact on the chain’s 8,000-strong workforce. The company has restructured its store estate twice in the past six years.
It has reduced its portfolio from around 600 UK stores in 2018. The business has also closed all of its 26 stores across Ireland, bringing to an end its two decade tenure in the country. Meanwhile, Beaverbrooks has been forced to close shops in Birmingham and High Wycombe this weekend.
The chain has said it will shut seven sites in March and April that are “no longer commercially viable”. Three other shops are closing in England, including those in Huddersfield, Croydon and Sutton Coldfield. Meanwhile two Scottish branches in East Kilbride and Dundee have already shut their doors forever.
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