Due to the cost-of-living crisis, high-street shops have experienced reduced footfall and lower revenues, with big names like Boots, Marks and Spencer, WHSmith, and House of Fraser taking steps to reduce their store portfolios.
Changing shopping habits have been accelerated by several factors, one being that consumers have less disposable income, plus high rents for shop owners make finances harder to balance.
Data from the Centre for Retail Research revealed that nearly 10,500 UK shops closed for good in 2023, leading to more than 119,000 job losses across the sector.
According to the centre’s data, an additional 8,543 store closures and upwards of 130,000 retail job losses have been recorded this year. The trend is expected to continue into 2025, with Homebase and Millets among those closing sites in the coming months.
While some branches will be replaced with larger and improved shops, others will be axed for good.
Homebase
The Range recently rescued 70 of 140 Homebase stores from closure after it fell into administration, and six of them will shut in December.
The stock has been heavily discounted with 60 percent off at Homebase in Sutton Coldfield, Bromsgrove, Cromer, Fareham, Newark and Rugby.
Three further Homebase locations, in Derry/Londonderry, Inverurie, and Omagh, will also close later in the year, along with a branch in Glenrothes near Fife.
The total 10 stores were earmarked for closure after Sainsbury’s agreed to acquire them from Homebase in August, with plans to convert the units into new supermarkets.
Since being taken over by Hilco Capital in 2018, who bought Homebase for just £1, 93 stores have closed.
Select
The clothing giant Select will close its branch in the Mall, Cwmbran, Wales, this December. Select operates more than 100 stores across the UK, including branches in Manchester, Bolton, and Sunderland.
The impending closure was announced on social media, leaving shoppers and staff devastated. A post on the retailer’s Facebook page lamented: “Heartbreaking to be writing this – but Select Cwmbran will be closing. Our last final day will be December 4 or 5.”
Select has been a high street fixture since the 1980s but has experienced lease renewal issues at its Cwmbran store, so it will soon close down.
This follows a string of closures by the fashion brand, including stores in County Square Shopping Centre, Ipswich, and Coventry earlier this year.
Millets
Outdoor enthusiasts in York will see changes as Millets prepares to shut its Market Street store in December, with plans to transform it into a Go Outdoors Express outlet in the New Year.
Both brands belong to JD Outdoors, and CEO Lee Bagnall views the closure as a positive move for customers.
In a statement, he enthused: “We always aim to provide the best possible experience for our customers, so by converting this store to a GO Express, customers will be able to benefit from the GO Outdoors loyalty programme, which offers exclusive and more affordable prices for members.”
A second Millets store in Burgess Hill will close in the coming weeks after the lease was not renewed.
“This affects four colleagues, and we are working with them to see if there are alternative roles available at other local JDGroup stores”, said the company.
Elsewhere, Millets stores in Halifax and Cheltenham also closed recently.
