SHOPPERS have cried out “ghost town” after a bargain retailer with 400 shops had abruptly shut down another store.
Poundstretcher has closed a store in Ammanford, South Wales just three years after opening.
3
3
The staff member confirmed the news to the local media outlet last week.
Unfortunately, the store survived just two years after opening in February 2021.
The news of the closure started circulating after the shoppers had spotted signs on the shop windows announcing a closing-down sale where customers could get 20 per cent off everything in-store.
The store posted on Facebook, saying: “Evening everyone. Poundstretcher Ammanford now has a closing down Sale.”
read more on money
“We have 20% off EVERYTHING so call in and make sure you do because once it’s gone it’s gone!”
The residents have expressed their concerns over the closure.
One person wrote: “I had only recently started going there… the staff were all lovely, I hope they’ve found new jobs.”
Another added: “Been in business for 24 years in Ammanford and I see the town going worse and worse not getting any better.”
Most read in Money
A third person said: “We travelled to Ammanford for a look around on Tuesday. It was sad to see many shops closed.”
“Ghost town before long,” claimed another one.
Jonathan Edwards, MP for Carmarthen East and Dinefwr, told local media he too was concerned about the news.
He said: “This is another blow to the local economy in Ammanford with a loss of yet another retailer from the town.
“My thoughts are with the workforce and all affected by the closure.
“As the local Member of Parliament I will do all I can to offer my support to them.”
The news follows a string of other store closures already announced by the high street retailer.
The discount retailer confirmed it is closing down two of its high street locations, Watford Road, Cotteridge and the Wealdstone branch in Harrow.
Another five Poundstretcher stores were closed last year but in February the retailer revealed plans to open 50 new stores by the of 2023.
The retailer had some financial hardships with a two-year Compulsory Voluntary Arrangement ending in 2022.
While the agreement allows firms to reorganise and carry on with operations, it typically results in store closures and lower rent negotiations.
Under the arrangement, Poundstretcher saw the closure of 500 stores which left only 350 still in operation.
Which other retailers are closing and opening branches?
It has been a tough time for high street retailers.
More shoppers than ever are ordering online and energy costs have risen which has left some retailers grappling with budgets.
It has led to several high street retailers closing stores as they try to cut costs.
Some have gone bust completely too, including Paperchase, Wilko, Cath Kidston and M&Co.
Peacocks – a major fashion retailer – once had more than 400 stores across the UK but has closed down half of them in a major blow for shoppers.
However, it has been slowly reappearing on the high street, building its portfolio back up to around 350 stores.
In October last year, the chain revealed it had plans to open seven new stores across Wales, England and Scotland.
Matalan is another fashion retailer which has recently shut down three of its branches – with plans to close another one in February.
Recent figures from the Centre for Retail Research reveal over 10,000 shops closed for the last time in 2023, and almost 120,000 jobs were lost across the sector.
That said, the figures are lower than they have been in recent years, with over 150,000 retail jobs lost in 2022.
Meanwhile, despite the backdrop, it’s not bad news for all retailers and some are opening stores across the UK.
READ MORE SUN STORIES
B&M, which currently runs over 650 UK stores, recently announced plans to open 17 more across January and February.
Asda also plans to open 21 new locations before the end of the month as well.
3
