Major jewelers with 70 locations close ‘great’ store in DAYS
SHOPPERS are devastated as a jewelery chain prepares to close a branch renowned for its customer service.
Beaverbrooks has 71 jewelers in England, Wales, Scotland and Northern Ireland.
But the retailer will close its Romford branch in the Liberty Shopping Center within days.
The store will welcome customers for the last time on Sunday, March 17, which is a blow to locals.
The branch has already launched a closing sale, where shoppers can get discounts of up to 50%.
A message on the retailer’s website reads: “We would like to thank you for letting us be part of your special moments over the years. It meant the world to us.”
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Customers who leave reviews on Google have come to know the store for its “great” customer service.
Others have praised the staff for their welcoming approach and patient approach.
News of the closure has been met with devastation by shoppers and locals alike, with many claiming Romford is becoming deserted.
One said: “Another store bites the dust.”
A second said: “Just another shop to close. Romford passed away a long time ago.”
A third added: “Romford is just the decaying remains of the once thriving town it was.”
And a fourth commented: “Poor Romford. All goes, what’s next.”
The closure of Beaverbrooks comes after Argos closed its Romford branch on March 2, gutting shoppers.
A spokesperson for the retailer told The Sun that the closure of the Gallows Corner store was part of its plan to “transform Argos”.
They 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 have made the difficult decision to close our Romford Gallows Argos store.”
Closure signs were also seen at a Poundstretcher branch in the east London city last November, although it is not clear whether the branch has closed yet.
Hundreds of shops in Britain have closed their doors for good in recent years.
The high street has suffered as households increasingly turn to online shopping, a trend that has been exacerbated during the coronavirus pandemic.
High energy, wage costs and business rates have further increased pressure on businesses, forcing many to close.
Several major retailers have gone completely bankrupt since the beginning of last year, including Wilko and Paperchase.
Others, such as The Body Shop and Boots, have massively streamlined their store portfolios in a bid to reduce costs.
But it’s not all doom and gloom in the sector; some companies have expanded their presence in retail parks and on the high street.
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.
In January, WHSmith said it wanted to open 15 new stores in airports, train stations and hospitals across the UK this year.
The retailer said a further 15 branches would be opened “every year” after 2023 “in the medium term”.
It followed the announcement that companywide sales were up 8% in the 20 weeks to January 20, compared to the same period last year.
Discounter B&M has also opened branches in the UK, as have Asda, Primark, Aldi and Lidl.
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