While many fashion merchandisers are opening after 12 weeks long of lockdown in the UK, many of them have accounted that they are permanently closing. This closing of High Street fashion stores applies to selective stores only.
The Centre for Retail Research (CRR) the UK finds that many of these stores were already struggling with sales. The lockdown period just made it worse for them and they are now closing many of their branches. The CRR also predicts that more than 2000 other brands and eateries would also close within this year. It is mainly because of the market crisis due to the coronavirus pandemic and markets lockdown.
Before the coronavirus and economy debates, 2019 was the year when more than 16 thousand shops were permanently closed. Nearly 143,128 employees became jobless. This year, this figure might increase to 235,704 which is worrisome.
Some of these high street fashion stores like “Laura Ashley”, “Oasis”, “Cath Kidston” and “Warehouse” are already in their end days. And many others are closing their selective stores, in addition to the other brands’ reopening, happening today.
Here are some of the stores that are permanently closing their doors for customers.
The shoe, and bags brand Aldo announced the permanent closure of its five stores. However, there is no information on whether or not the other eight stores would remain open or closed. There is no decision on it so far. However, the Aldo management plans to facilitate all online orders as it was doing during the coronavirus lockdown.
It is a luxury brand that is closing its stores making 164 employees jobless. This is a more than 100 years old fashion brand which was once the most iconic name in the fashion industry. However, with international travel restrictions and trade policies, the administration is shutting down the stores.
Another British High street fashion brand Quiz is closing 82 of its chain stores. It is also planning to purchase the stock back and renegotiate with local dealers. This store closing will put the future of 93 jobs at high risk.
The second time in the last one year, Debenhams is in the talks about closing some of its franchises, making 22,000 lose their jobs. While 100 stores of Debenhams would open today, remaining stores are not yet decided for their future. 22 of these stores are about to close permanently which will make thousands of people lose their jobs.
This vintage brand is closing all of its 60 UK stores making 908 people jobless.
Oasis and Warehouse
Two big High Street fashion names Oasis and Warehouse has also announced to cut to their employees.
Laura Ashley was doing great before the coronavirus lockdown hit the globe. But once the lockdown was imposed it is compromising on its sales and now nearly 2700 jobs are at a risk. The administration says that the brand was doing fine before the international trade restrictions and border closing.
This popular accessories brand is closing 35 stores permanently with as many as 545 job cuttings too. In the first week of June, the administration of this brand made it public that the store is not meeting its sales expectations. To cut the cost, the company is clearing all these job positions.