A MAJOR clothing and homeware chain will close two stores this spring in the latest blow on the high street.
TKMaxx has confirmed the closure of one of its own stores and one Homesense location, while a third will be relocated.
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Homesense is a subsidiary of TK Maxx which exclusively sells homeware.
First up, Edinburgh’s TK Maxx will be forced to close this month after the landlord pulled the lease.
The shop will close its doors to customers for the final time on Wednesday, February 15.
TK Maxx will also be shutting up shop in Manchester’s Arndale Shopping Centre.
The store will close on Wednesday, March 1, meaning customers wishing to visit the brand will have to venture further out of the city to the Trafford Centre.
Swansea will also lose its Homesense store currently located at Parc Fforestfach which be relocated by the end of March.
The closures at TK Maxx and Homesense come as the chain is set to open stores in several new locations.
TK Maxx is opening a brand new store in Workington’s former Debenhams as well as a new store in Llanelli.
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And Homesense will open a brand new store in Llanelli right beside the planned TK Maxx.
TK Maxx hasn’t yet confirmed when the new stores will open.
The retailer is a subsidiary of the TJX Companies which operates thousands of stores under the TJ Maxx brand in the United States.
TK Maxx has 352 stores in the UK and hundreds more operate under the same brand in Europe.
The brand also owns 77 Homesense stores across England, Scotland, Wales and Norther Ireland.
The company saw its annual turnover increase by 45% to £3.3billion in 2022 despite the challenges faced by the pandemic in previous years.
Which other retailers are struggling?
The closures come as a number of other high-street retailers battle to keep their stores open.
High inflation has pushed up costs for retailers and shoppers alike, while the pandemic encouraged more consumers to buy their goods online.
B&Q is set to close eight “mini-shops” located inside Asda supermarkets for good within weeks.
House of Fraser is set to shut up shop in two locations as it battles to keep a presence on the high street.
Last week it was announced clothing store M&Co will shut all 170 of its stores this year.
The company fell into administration in December and the M&Co brand was bought by Yours Clothing.
But only the M&Co branding was purchased – meaning the shops have not been saved.
H&M recently confirmed to The Sun that two branches in Hartlepool and Isle of Wight are set to close.
It hasn’t given a date for when they will shut the doors for good or if workers are at risk of redundancy.
It comes after the high street shop shuttered its branch in Burton and another in Maidenhead.
New Look has also brought the shutters down on three of its stores in recent weeks.
Its owner Sainsbury’s also revealed that Lloyd’s Pharmacy is withdrawing its services from over 200 Sainsbury’s stores.
Meanwhile, stationery chain Paperchase’s 106 high street stores have launched closing down sales, though it hasn’t been confirmed when they’ll shut for good.
Major burger chain Byron Burger also recently fell into administration and is set to close nine restaurants immediately.
The owners of the chain said that the closures will result in the loss of 218 jobs.
