‘Another one bites the dust’ as iconic shoe shop to abruptly shut store – is your local vanishing from the high street?
AN iconic shoe shop with 300 stores has announced that it will close another shop before the end of the year.
Clarks has confirmed it’ll shut its store located in Newport Retail Park in Spytty for good.
A spokesperson for Clarks told the South Wales Argus: “Clarks confirms its store at the Newport Retail Park, Newport, will close in late 2023.
“We have a strong duty of care to all our employees, and we are working closely with the store team as they now go through a period of consultation.
“Customers can continue to shop from our full range of products online and at our nearby Clarks stores in Cwmbran, Caerphilly, and Cardiff.”
We’ve asked Clarks for the exact date of the planned closure.
Reacting to the news on social media, one shopper posted on Facebook and said: “Oh no this is such a shame!”
Another shopper said: “Another one bites the dust.”
“The exodus continues,” said a third shopper.
It comes after Clarks announced that it’ll pull down the shutters in High Street Inverness in September.
It’ll also shut in Westwood Cross Shopping Centre in Kent in mid-November.
Several Clarks stores closed earlier this year too, with its branch in Fareham Shopping Centre shutting on August 5 and the Dundee store closing on July 25.
Before this, it closed the doors on two stores in Kent in Ashford and Gillingham at the end of 2022.
The popular footwear chain was founded in 1825 and operated across over 1,400 stores and franchises internationally at its peak.
But as of July 2023, the brand had just 320 stores.
Clarks brought in management consultants McKinsey & Co to help with restructuring plans after posting a £82.9million post-tax loss in 2019.
It was then rescued from the brink of collapse with a £100million investment deal by private equity firm LionRock Capital.
A Company Voluntary Arrangement (CVA) was agreed which saw the Clarks family lose overall control of the company.
A CVA allows firms that have run out of cash to look at ways to save the business, such as reducing rent rates with landlords.
Companies often agree to a CVA to avoid insolvency, which can lead to closures or the whole business going bust.
More than 50 stores were set to close following this announcement in November 2020 – but dozens more have shut since then.
All is not lost for shoppers though, as the retailer has also relocated and opened new shops in recent months.
The brand opened a new store on East Street in Taunton in April following the closure of its original high street store.
Clarks also opened up a new store in Newcastle’s Eldon Square shopping centre on May 14.
Meanwhile, fellow footwear retailer Shoezone is pulling down the shutters on another store in its latest round of closures.
The cost of living crisis on top of a rise in online shopping has made it tougher than ever for businesses to keep physical stores open.
Retailers and shoppers alike are also hit hard by stubbornly high energy costs and inflation.