‘We’re working to support employees’ Major phone shop with more than 300 stores closes down for good
A MAJOR phone shop with more than 300 stores has closed down for good.
Telecoms giant 02 has pulled the shutters down on its store in Great Yarmouth.
It comes following an announcement by the company in July that it plans to axe 2,000 jobs by the end of this year.
Speaking to local news outlet Great Yarmouth Mercury, a spokesperson for O2 said: “Following a review of our retail strategy last year, we are ending our franchise relationships, bringing the majority of stores under company ownership.
“We’re working with franchisees to find ways to support their employees through this change.”
In October it closed another one of its shops in Barrow town centre, Cumbria.
A spokesperson told The Sun at the time: “ Following a consultation with store staff in Barrow, we have taken the decision to close this store on 14 October.
“We continue investing in our high street stores to ensure we deliver the great service our customers expect.”
Locals of Great Yarmouth took to social media to react to the closure of the store in Market Gate, one said: “SHUT internet shopping, reduce shop rents, give real shops a life”.
But others were not so bothered by the loss as another added: “I am with O2 and never been in the shop, I do everything online”.
A third person commented: “To be fair every time you go in a shop like that these days they tell you it’s cheaper to do it online”.
It comes following a string of closures hitting the UK high streets in recent months.
Possibly one of the biggest was the demise of much loved retailer Wilko in the summer.
The retailer fell into administration on August 10 after failing to find a buyer for the entire business.
Some of the old Wilko premises were snapped up most noteably by rival bargain store Poundland.
The discounter bought up 71 of the Wilko locations and has since opened them all up under the Poundland brand.
B&M also agreed to buy up to 51 Wilko locations in a £13million deal, but it is not yet clear which locations these are or when they will be re-opening.
The Range also stepped in and bought the Wilko brand name and website, which pleased shoppers when it made a return last month.
Elsewhere in other shock news, clothing retailer Next announced it would be shutting 11 stores.
The high street chain said six of the closures are taking place because it expects the stores won’t reach their target margins.
Two of the closures are due to site redevelopments, while the remaining three are taking place because an agreement couldn’t be reached with the site’s landlord.
It is a tough time for high street shops as consumers are being more savvy than ever with their cash.
The rising cost of living has left many households struggling and this has meant less people are taking a trip to the local shops at the weekend.
Many people who shopped online during the pandemic have just continued to do so, and this is also being felt by retailers.
However it is not all bad news as some retailers have been thriving despite the difficult conditions.
TK Maxx is also reportedly looking for new locations as part of expansion plans.
And Poundstretcher recently revealed plans to bring 50 new shops to the high street before the end of the year.