‘Tragic news’ sob shoppers as bargain store with 190 sites to shut ‘great’ shop for good in days
A MAJOR discount department store has confirmed the exact date it will close another site and shoppers are calling the news “tragic”.
The Original Factory Shop‘s store in Hadleigh has announced it is rolling down the shatters for good later this week.
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Its store in the Suffolk town will close to shoppers for the final time on Saturday, May 11.
The company posted a statement on its Facebook page that reads: “We are sorry to let you know our store will close its doors on April 11, 2024.
“We would like to take this opportunity to thank all of the local community and our store colleagues for their support throughout our time here in Hadleigh.
“We’d love to see you in store one final time to say goodbye.”
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Reacting to the news on Facebook, one shopper said: “This is tragic news, so many folks love this store.”
Another said: “Oh no. I love this store, such sad news.”
“This makes me sad, your store is so great,” said another.
The retailer has been running since 1969 and has around 190 stores across the UK.
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But this is not the only branch biting the dust this year.
The Original Factory Shop has already pulled the shutters down on seven stores in recent months:
- Bodmin, Cornwall
- Chepstow, Wales
- Fakenham, Norfolk
- Harwich, Essex
- Mildenhall, Suffolk
- Padiham, Lancashire
- Taunton, Somerset
It comes after the retailer, known for selling everything from clothing to homeware and stationery, shut a number of branches last year.
However, it’s not all bad news, as the retailer has opened several branches since August 2023. The full list of 16 is:
- Kirkintilloch – opened August 24
- Stonehaven – opened August 31
- Blandford Forum – opened August 31
- Haddington – opened September 7
- Wetherby – opened September 7
- Nairn – opened September 14
- Ashbourne – opened September 14
- Castle Douglas – opened September 21
- Penrith – opened September 21
- Inverness – opened September 28
- Attleborough – opened September 28
- Ayr – opened October 5
- Ringwood – opened October 5
- Perth – opened October 12
- Lanark – opened October 19
- Peterhead – opened October 26
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 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.
IN OTHER NEWS
It’s not all bad news for the high street, as several other retailers and hospitality venues have plans to expand.
On Monday, beer giant Heineken announced plans to invest £39million to help reopen 62 previously shuttered British pubs.
Aldi has announced that it will open 35 new UK stores.
The openings form part of Aldi‘s long-term target of 1,500 stores in the UK.
The supermarket is set to invest £550million in expanding its UK footprint this year alone.
Aldi said each new store opening will create around 40 new jobs on average.
Asda has been opening hundreds of convenience stores in recent months as it looks to rival major players Tesco and Sainsbury’s.
B&M plans to open “not less than” 45 brand new stores across the UK in each of the next two consecutive years.
The parent company of Bonmarché, Edinburgh Woollen Mill (EWM) and Peacocks, Purepay Retail Limited, has said it wants to open 100 new high street stores over the next 18 months.
It has yet to give the exact locations where it will open the 100 stores or when they will open.
One of the UK’s favourite bakery chains, Greggs, has exclusively revealed to The Sun plans to open more outlet branches by the end of 2025.
Home Bargains, which was running just under 600 branches as of last June, has said it wants to “eventually have between 800 and 1,000 retail outlets open”.
The major discounter has stopped short of saying when it wants to reach the 1,000 store target, however.
Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.
Screwfix is set to open 40 new stores nationwide as its owner, Kingfisher, seeks to expand the DIY brand’s national presence.
The brand opened two new stores in March, and a further three new shops will open this month.
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Tesco has revealed plans to open 70 more stores across the UK over the next year as part of major expansion plans.
WHSmith has turned its focus to the travel side of its business, with plans to open new sites in airports, railway stations and hospitals.