‘Stripped! I’ve used that so many times,’ shout Argos shoppers as another store closes
ARGOS shoppers are ‘gutted’ as another popular venue closes for good after a series of closures.
The high street retailer pulled down the shutters on its Romford Gallows Corner store for the final time on Saturday, March 2.
Argos has already closed 42 UK stores in June, including all 34 branches in the Republic of Ireland.
An Argos spokesperson told The Sun that the closure of Romford Gallows Corner was part of the plan to “transform Argos”.
It says it aims to “provide even easier ways to shop” and added: “We are reducing the number of standalone Argos stores we operate, while opening more Argos stores and collection points within Sainsbury’s.
“As part of this plan and regular reviews of our property, we made the difficult decision last week to close our Romford Gallows Argos store.”
Disgruntled locals have taken to social media to react to the loss of the store.
One person said: “Gutted. It was such a good shop in an excellent location with free parking.”
Another added: “Such a shame to close, so convenient. Now lost a loyal customer.”
Gutted, it was such a good store and excellent location
Social media user
A third person commented: “I will miss this store, always go here as it is the easiest to get to and park.”
The retailer announced in July last year that it would close 100 UK branches over the next twelve months.
We’ve got the full list of Argos stores that have closed since last year, including the new concessions that have opened in Sainsbury’s supermarkets.
What other retailers have closed shop?
The changes for Argos come as other major retailers, such as Marks and Spencer and Boots, shake up their portfolio of stores on the high street due to the rising cost of living and a change in shoppers’ habits.
In 2022, M&S announced it would close 67 “lower productivity” stores as part of the 110 stores it had already earmarked for closure.
It wasn’t all bad news for M&S shoppers, though, with some stores closing, others opening in new locations.
Nine new openings took place in November last year, including six new stores plus three store renovations.
The retailer also announced plans to open more than 100 larger Foodhall locations by 2028.
We’ve got the full list of Marks and Spencer locations that have closed and the new locations that have opened so far.
Boots has also reshuffled its store portfolio after announcing last year it would close 300 stores.
The health and beauty chain said that where stores were to close, there would be an alternative store less than three miles away.
Boots closed more than 200 stores for 18 months in 2019, closing around 8% of Boots high street branches.
Many stores closed because they were loss-making and two-thirds of the stores were within walking distance of each other.
In 2020, Boots announced that 48 opticians would close, causing the loss of 4,000 jobs.
They said the decision to close stores was not taken lightly.
Other popular retailers have disappeared from our high streets entirely, with the most recent shock being The Body Shop.
The cosmetics and skin care chain fell into administration last month and immediately started closing branches.
We have the latest news about the stores that are closing and the stores that remain open.
To find out more about which high street stores will close, we have a full list of stores set to close in March.
Iceland Boots and Costa are among the retailers closing their branches in the coming weeks – so check if your local high street is also among those affected.
Why are retailers closing their stores?
RETAILERS have been feeling the pressure since the pandemic, as shoppers cut back on spending due to the rising cost of living.
High energy costs and the move to online shopping after the pandemic are also taking their toll, with many high street stores struggling to continue.
The high street has seen a slew of closures in the past year, with more to come.
The number of jobs lost in UK retail fell last year, but 120,000 people still lost their jobs, figures show.
Figures from the Center for Retail Research show that 10,494 stores will have closed for the last time in 2023 and 119,405 jobs will have been lost in the sector.
It was fewer stores than had been lost in recent years, and a decrease from the 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
While some big names on the high street were lost, including Wilko, many major companies had already gone bankrupt before 2022, the center said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost of living crisis, inflation and rise in interest rates have prompted many consumers to tighten their belts, causing retail spending to fall,” said Prof Bamfield.
“Retailers themselves have faced rising energy and occupancy costs, staff shortages and declining demand, making rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Besides Wilko, which employed around 12,000 people when it went bust, the biggest failures of 2023 include UK Flooring Direct, Planet Organic and Tile Giant.
The Center for Retail Research said most stores were closed as companies tried to reorganize and cut costs rather than face bankruptcy.
However, experts have warned that more bankruptcies are likely this year as consumers tighten their belts and borrowing costs for businesses soar.
According to official figures, about 14% of bankruptcies last year occurred in retail businesses.