SHOPPERS have been left devastated after a discount chain with 110 stores nationwide is set to shut its “popular branch”.
This is the latest retailer to bite the dust in a fresh wave of closings amid the high street’s retail apocalypse.
GettyAnother retailer has announced a shop closure in the UK[/caption]
RexOne Beyond is set to shut down its most popular branch in St Helens shopping centre[/caption]
One Beyond Retail has announced it will close its beloved branch in The Hardshaw shopping centre in St Helens by the end of May.
Many shops are shutting down at the popular St Helens’ shopping complex as it enters its final weeks of operation.
The council has confirmed that contracts would be stripping the mall building before demolishing it in autumn amid redevelopment plans.
Christopher James Edwards, CEO at One Beyond Retail Ltd commented: “One Beyond will be closing our popular location in The Hardshaw Centre at the end of May due to the shopping centre’s redevelopment.”
Shoppers have been left crying after hearing the news of the latest shop closures in St Helens.
One frustrated customer wrote on Facebook: “St Helens is officially dead.”
Another added: “Sad to see all the businesses moving away from the shopping complex. It is gonna get demolished sooner or later.”
However, One Beyond Retail will open a new branch in St Helen soon after shutting down its current business, the boss added.
He also said he plans to open 20 new stores across the UK by the end of this year.
“We’re pleased to say that we will be opening a brand new store in a new location in St.Helens, also at the end of May.
“We currently have over 110 stores nationwide and we plan to open a further 20 stores across the country in 2024.”
Britain’s retail apocalypse
It comes as many high street brands are shutting stores across the country.
Peacocks, Boots and Game are all shuttering branches within days.
Elsewhere, a number of retailers have closed their stores last weekend in a fresh blow for the high street.
Boots announced it would be closing 300 stores over the next year as part of plans to evolve its brand.
M&S has also confirmed store closure and openings with plans to ensure it has the best store locations.
The Body Shop is currently going through administration and announced plans to close half of its 198 stores.
Fashion giant Ted Baker has also confirmed the latest locations of the stores it will shut after falling into administration.
The fashion chain, which currently runs 46 stores across the UK and employs 975 people, filed a Notice of Intention in March.
Out of the 46 stores across the country, 11 stores will all have shut by April 19, with 120 staff set to lose their jobs.
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, Snug 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.
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