2 days Ago By Adele Cooke
EIGHT of the UK’s largest retailers are set to close stores in January as businesses continue to abandon the High Street. Last year was difficult for many of Britain’s biggest brands, who were forced to pull the shutters down on several shops for the last time. 1 Thousands of stores are forecast to close this year Credit: Alamy Reduces footfall and lower takings have put pressure on businesses, forcing them into administration or to cut costs by closing shops.
Around 13,479 high street stores shut for good last year, according to the Centre for Retail Research. This is a 28% increase on the levels seen in 2023. It estimates that around 17,350 stores will close this year as higher national insurance contributions and increases in the national minimum wage take effect in April.
Read more on the high street CLOSING TIME High street giant launches closing down sale at town centre store SHOP SHOCK Iconic British high street chain forced to close ANOTHER store after 34 years Eleven stores are already set to close in January, including a popular coffee chain and clothing shop. Here are all the retailers that have announced they will close stores this month..
. The Body Shop Skincare store The Body Shop will close its Sheffield branch this month after three decades of trading. The Orchard Square store will close for good on January 15 .
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At the time the deal looked set to help its 113 UK stores to remain trading. But the Sheffield store is not the only one set to shut up shop this month. The Body Shop in Castle Street in Norwich will shut down on January 15 after 44 years of business.
Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested. Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector. It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good. Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams. "The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said.
"Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult." Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant. The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses. The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year. A sign in the window said the store “wanted to thank everyone for being our customers”.
Monki H&M-owned fashion chain Monki has announced plans to close two of its shops this month. Those set for closure include a store at the Intu shopping centre in Newcastle Upon Tyne and Manchester’s Arndale Centre. The Newcastle branch will close today while the Manchester branch will shut two weeks later, on January 17.
H&M plans to close seven Monki stores as it merges the brand with trendy fashion chain Weekday. It hopes by blending the stores it will create a “new youth destination” which will appeal to younger shoppers. Matalan High street staple Matalan will close its store in Chester for good this week.
The store in Stadium Way near the Greyhound Retail Park will shut for the last time on January 4 . A spokesperson for the clothing and homeware store told The Sun it was closing the shop as the landlord wants to “redevelop the site”. They added: “Our priority is to support our colleagues and we are working closely with all those affected and where possible offering them alternative positions.
" Shoppers have until January 4 to make any returns. After that they will need to visit a nearby store or send their item back via post if it was an online order. Greggs Bargain bakery chain Greggs will close a Coventry store this week after sparking outrage from locals.
The Foleshill Road store will draw its shutters for the last time on January 4 . A sign has been placed in the window which reads: “Sorry, we are closing on January 4, 2025. "Your nearest shop is 118/120 Jubilee Crescent, Radford.
" Greggs confirmed to The Sun that it is not part of a wider plan to cut branches. Locals were disappointed by the news, with one person posting on Facebook: “This Greggs is very popular and will be sorely missed.” The Entertainer Children’s toy chain The Entertainer has confirmed that it will close an Edinburgh store on January 4.
The toy giant will shutter the store in the Cameron Toll shopping centre after ten years of trading . A reason for the closure has yet to be given but boss Andrew Murphy has previously said changes in the Budget will hit the firm’s finances. The toy giant has been forced to drop plans to open two new stores due to the Government changes.
It has also brought in a hiring freeze at its head office. Deichmann Shoe giant Deichmann will wave goodbye to its branch in Newport city centre on January 11 . The store on Commercial Street in Newport will close its door for the last time after 17 years in the Welsh city.
Shoppers will need to head to the store in Cwmbran to get their hands on Deichmann shoes or bags. The reason for the closure is not yet known. It has not yet been confirmed what will replace the store once it has closed.
Starbucks Coffee chain Starbucks will close two of its branches this month. The popular American chain will pull down the shutters on its coffee house on Dumfries high street on January 12 . A spokesperson for the chain said it regularly reviews its portfolio to ensure its stores are relevant for customers.
Starbucks fans will need to head to the store on Annan Road, Dumfries, to get their hands on the chain’s selection of beverages and sweet treats. Meanwhile, the Starbucks branch inside the Cineworld at Sixfields Leisure will shut for good on January 19. A spokesperson told the Sun: “Following Cineworld's announcement that they are closing, our store inside Cineworld Sixfields will also close alongside it on January 19, and we are in the process of working with our employees to offer them positions at nearby stores.
"We thank our customers for their loyalty over the years and invite them to find their nearest stores in Northampton, Market Square and St James Retail Park." WHSmith Stationer WHSmith will close its Winton branch in Bournemouth, Dorset on February 15. The news comes after the retailer shut its Boscombe branch in the same town in June 2024.
The book and stationery chain has closed ten stores since March 2023, including shops in Manchester and Somerset. But WHSmith plans to open ten to fifteen new stores next year. Some of these stores will serve hot food and coffee.
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