Retailer with 250 branches announces the exact date that the ‘great’ store will close
SHOPPERS are devastated as a retailer with 250 UK branches prepares to close one of its stores within weeks.
But it’s not all bad news for the chain, as it has opened eleven new stores since last year.
Clothing and outdoor retailer Mountain Warehouse has told The Sun it will close its branch in Ryde on the Isle of Wight on March 30.
A spokesperson said the store will close after it opened a larger format branch in Newport, almost seven miles away, last year.
Shoppers were stunned when the retailer announced it was closing the branch last November.
One said dejectedly: “It’s only a matter of time,” while a second added: “Such sad news, the manager here has been great.”
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Other shoppers are likely to be upset after the retailer confirmed the exact closing date, with many praising the store on Google Reviews.
One said: “Great stock, clean and tidy with lovely, friendly and helpful staff. Danny who helped me find a pair of walking boots was great.”
A second said: “Always great service and great choices.”
It comes after a series of Mountain Warehouses closures, including a move from a Norwich branch to Haymarket in 2023.
The Marshalls Yard store in Gainsborough, Lincolnshire, closed last year, as did branches in Basingstoke and Swindon.
But it’s not all bad news for the retailer.
It opened 11 new stores in 2023 as part of its ongoing “store opening strategy”.
It also expanded its international portfolio with eight new stores in Canada, New Zealand and Europe in 2023.
The retailer also has plans to open more stores in 2024, although where and when they will open is yet to be confirmed.
We’ve asked the retailer for more details and will update this story once we hear back.
Which other retailers are closing stores?
Supermarket chains such as Lidl, Tesco and Iceland have been closing their stores since the beginning of 2023.
Meanwhile, retailers such as Poundstretcher, Argos and House of Fraser have also closed their own stores.
This is because chains often close locations while opening others as part of a balancing act to maintain their portfolios.
Big names such as Wilko, Paperchase and The Body Shop have also ended up in administration since last year, resulting in the closure of 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 close stores where there was another nearby.
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.
But just like Mountain Warehouse, it’s not all bad news for the high street: a number of retailers are expanding.
Asda has opened hundreds of convenience stores in recent months as it looks to grow its presence in the UK.
Primark is also opening new branches and investing and renovating more than a dozen existing stores.
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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