‘Nail in the town’s coffin’ as major retailer with 500 stores closing branch

SHOPPERS have cried it’s a “nail in the town’s coffin” after a retailer with 500 stores announced it is closing one of its sites.

WHSmith is pulling down the shutters on its branch in Caernarfon, Wales, in February next year.

1

A spokesperson told the Daily Post: “We are no longer able to continue to trade viably from this location and the difficult decision has been taken to close the store in February next year.

“We would like to thank all our customers for their support and for shopping with us.”

“We are also extremely grateful for the commitment of our in-store colleagues who we will support with this transition and redeploy to nearby stores, where possible.”

Local residents have been left devastated at the announcement.

One said: “End of an era and another nail in the town’s coffin…..so sad to see the state of the place.”

A second said: “Expected this to happen eventually. So sad for the town.”

Meanwhile, a third added: “Caernarfon will soon be just charity shops.”

WHSmith has already closed a number of branches across the UK this year.

The well-known retailer shut a store in Manchester today, while its Bicester branch closed on August 30.

Meanwhile, its site in Newcastle-under-Lyme closed in March.

The retailer is set to shut branches in Ramsgate and Alfreton at the start of 2024 too.

In June, WHSmith’s boss Carl Cowling said it had no plans to open any more UK high street stores.

Instead, it is focusing its efforts on UK airports and train stations, as well as looking to expanding in the US and Europe.

WHSmith isn’t the only retailer struggling on the high street, with a number of others feeling the pinch.

Consumers are increasingly heading online to do their shopping and away from physical branches.

The Centre for Retail Research says online shopping accounted for over 26% of the total retail market in the UK in 2022, compared to over 10% in 2012.

High inflation since 2022 has seen consumers’ budgets squeezed too, meaning they’re spending less on leisure purchases.

Combined, it has seen a number of retailers fall into administration, including M&Co and discounter giant Wilko.

CDS Superstores, which owns The Range, has since announced it is reopening some of the Wilko stores which closed though.

Stores in Exeter, Plymouth and Luton are gearing up to open within just days.

Meanwhile, some retailers and chains are opening sites as others close them.

KFC revealed to The Sun it is opening a swathe of new branches across the UK between November this year and early 2024.

Meanwhile, Dunkin’ Donuts is planning to double its portfolio in the UK from 30 to 60 over the next two years.

And restaurant giant Lounge is also set to open another seven restaurants by January including in Hexham and Ashby-de-la-Zouch.

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.

This post first appeared on thesun.co.uk