A RETAILER bought out by discounter giant Home Bargains is closing one of its branches permanently in another blow for the high street.
Quality Save, which has 14 stores across the North-West of England, is shutting its Stalybridge store in October.
An exact date for the closure is yet to be confirmed.
A spokesperson for Home Bargains, whose parent business TJ Morris bought out the company in January this year, said: "We are proposing to close the Stalybridge store that we acquired earlier in the year.
"Our business case is built on a thorough evaluation of future profitability, and this store does not fit our business model."
Colleagues at the store will be offered alternative roles at a nearby Home Bargains branch on the same hours, the spokesperson said.
Read more in Retail
Major coffee chain with over 2,000 branches shutting shop following closures
‘Another big shop gone’ from high street as department store to close branch
They added: "We want to ensure all colleagues remain within our business and in line with our original communication we have a role for all store colleagues."
Residents who use the Stalybridge store have shared their shock following the announcement of its closure.
One person said: "This is a great little shop and I hope there is a change of mind."
Meanwhile, a second resident said: "Shocking amazing store and staff massive loss to Stalybridge."
Most read in Money
Retailer 'to buy 100 stores but majority of shops to close & job losses likely'
Major high street retailer 'makes last-minute bid' to save Wilko stores
Wilko staff make desperate request to shoppers ahead of store closures
Aldi makes kind gesture to devastated Wilko staff over store closure fears
It comes after a number of other retailers have closed stores in 2023, including big high street brands such as Argos, Iceland and Paperchase.
Why are retailers closing branches?
High street retailers have been struggling in recent years as consumers turn their attentions to online shopping.
The Centre for Retail Research say the online share of retailing was 6.6% in 2006, but by 2019 had soared to 19.2%.
The trend increased during the coronavirus pandemic as shoppers were forced to stay at home.
High inflation since 2022 has meant people's money isn't going as far too.
All of these factors, combined with higher energy costs have led to a number of retailers struggling financially.
Famous brands such as Cath Kidston, Paperchase and M&Co all crashed into administration this year.
M&CO has since relaunched as an online retailer.
Wilko meanwhile plunged into administration earlier this month, putting over 12,000 jobs at risk.
Rivals Poundland and B&M are reportedly in talks to buy some of its stores.
HMV's billionaire owner Doug Putman has also reportedly put in a bid for the troubled business.
A number of retailers have not gone bust, but have still had to close stores.
Argos has already pulled down the shutters on 37 of its UK stores and five have already closed, or are due to, this month.
Meanwhile, Co-op and House of Fraser have also closed branches this summer.
Read More on The Sun
Katie Price in neighbour row at new house as Carl is reported to council
Bra expert shares 5-step guide so it fits & you won’t get back bulge anymore
However, some retailers are opening stores too, including B&M, Primark and the Original Factory Shop.
Some are opening branches within days.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
Source: Read Full Article
