‘Only a matter of time’ grumble shoppers as retailer with 250 branches announces exact date it will shut ‘awesome’ store
SHOPPERS have been left gutted as a retailer with 250 UK branches gears up to close one of its shops in a matter of weeks.
But it’s not all bad news for the chain as it has opened 11 new stores since last year.
Clothing and outdoor retailer Mountain Warehouse has told The Sun it is closing its branch in Ryde on the Isle of Wight on March 30.
A spokesperson said the store will be shutting after it opened a larger format branch in Newport, nearly seven miles away, last year.
Shoppers were left stunned when the retailer announced last November it would be closing the branch.
One dejectedly said “it’s only a matter of time” while a second added “such sad news the manager in here was amazing”.
Other shoppers will likely be left gutted after the retailer confirmed the exact closure date, with plenty full of praise for the store on Google Reviews.
One said: “Great stock, clean tidy with lovely, friendly and helpful staff. Danny who helped me find some walking boots was awesome.”
A second said: “Always great service and great choices.”
It comes after a string of Mountain Warehouse closures including a relocation of a branch in Norwich to Haymarket in 2023.
Its Marshalls Yard store in Gainsborough, Lincolnshire, closed last year, as well as branches in Basingstoke and Swindon.
But it’s not been all bad news for the retailer.
It opened 11 new stores in 2023 as part of its ongoing “store opening strategy”.
It also grew its international portfolio with eight new stores in Canada, New Zealand and Europe in 2023.
The retailer has plans to open further stores in 2024 as well, although it is yet to confirm where or when they will open.
We have asked the retailer for further details and will update this story when we have heard back.
Which other retailers are closing stores?
Supermarket chains such as Lidl, Tesco and Iceland have been closing stores since the start of 2023.
Meanwhile, retailers such as Poundstretcher, Argos and House of Fraser have been shuttering single stores too.
This is because chains will often close branches as they open others as part of a balancing act to maintain their portfolios.
Major names such as Wilko, Paperchase and The Body Shop have crashed into administration since last year as well, shutting hundreds of branches between them.
In June last year, Boots said it would massively consolidate its portfolio of 2,200 stores to 1,900.
The pharmacy chain said it would shut stores where there was another one nearby.
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 UK Flooring Direct, 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.
Last year, around 14% of insolvencies were in retail businesses, according to official figures.
However, as is the case with Mountain Warehouse, it’s not all bad news for the high street – a number of retailers are expanding.
Asda has been opening hundreds of convenience stores in recent months as it looks to increase its presence across the UK.
Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.
Meanwhile, Wilko has made a comeback on the high street, opening stores in Plymouth, Luton and Exeter before the end of last year.
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