A MAJOR fashion brand with 98 locations is set to pull the shutters down on another store for good.
Superdry will be closing its St Andrews branch but it is understood staff have not yet been told.
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The store is located on Market Street in St Andrews, Fife, and the property has been publicly marketed since May this year.
Local news outlet, The Courier, reports that the fashion retailer has decided not to extend the lease of the premises when it expires in Spring 2024.
The premises have been marketed since May this year by commercial estate agency Culverwell.
The advert that can be viewed publicly online is labelled private and confidential and also says “staff unaware”.
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A spokesperson for Culverwell told The Courier: “Superdry is closing.
“They have a lease expiring next year and are not renewing the lease.
“We are letting it to another party and it is under offer at the moment.”
They also explained that the reason for the wording on the advert was “to help the retailer so that they don’t suddenly have a problem”.
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They added: “When we are dealing with occupiers who are looking at properties, we don’t want them walking into the shop chatting to staff who might not be aware of what’s going on.”
Earlier in the year the retailer confirmed to The Sun that it was in the process of shutting eight of its stores across the UK.
At the time the retailer denied that the move was part of its £35million cost-cutting measures announced earlier in the year.
Instead, it said the decision was made by the independent owner who operated the eight stores.
In April, Superdry revealed cost-cutting plans which included “estate optimisation”, indicating some shops could close.
The stores that we know of so far that have closed are:
- Stoke On Trent – closed mid-May
- Ipswich – closed on June 7
- Luton – closed on July 3
- Telford – closed on July 4
- Lincoln – closed on July 10
- Bury St Edmunds – closed and has now reopened
A spokesperson for Superdry said at the time: “We can confirm that eight stores operated by our franchisee under licence from Superdry, are in the process of closing.
“The majority of Superdry’s stores in the UK are operated directly by Superdry and there are no plans to close any of them at the present time.”
The rising cost of living is seeing retailers vanish from the high street at some pace.
Shoppers are more savvy about how they spend their hard-earned cash, and many people now prefer to buy what they need online.
In August much-loved retailer Wilko fell into administration after failing to find a buyer for the entire business.
Other retailers stepped in to buy up some locations such as rival discounter Poundland.
It bought up 71 of the old Wilko locations and it has now opened them all up under its own brand.
B&M also agreed to buy up to 51 Wilko locations in a £13million deal, but it is not yet clear which locations these are or when they will be re-opening.
The Range also stepped in and bought the Wilko brand name and website, which pleased shoppers when it made a return last month
