SHOPPERS have reacted with shock after a high street fashion retailer abruptly shuts another store.
Matalan closed its Leytonstone store for the final time on Sunday after trading for over two decades.
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A spokesperson for Matalan said: “We can confirm that our Leytonstone store closed on January 7.
“We worked closely with all those colleagues affected and offered them alternative positions in our local store network.
“Customers in the area are still able to access our full range of products via our website.
“We would like to thank all of our customers in the local community for shopping with us.”
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Reacting to the news, shoppers took to Facebook, and one said: “That’s very sad to hear.”
Another said: “Scummy council going to turn it into flats.”
“What a shame,” said a third shopper.
Shoppers in Renfrew were left devastated in September when it announced the closure of its Blythswood Retail Park store.
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The bargain store launched a 30% off everything sale before it closed for good on September 30.
Why are retailers closing stores?
The Centre for Retail Research recently revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
More shops had been lost in previous years, and there was a reduction in job losses from 151,641 in 2022.
But the centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” rather than good.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs, rather than the business failing.
Several major brands have also collapsed and closed stores for good in recent years.
Wilko‘s fall in August 2023 marked the biggest British retail collapse since McColl’s plunged into administration in May last year.
Paperchase collapsed into administration at the end of January 2023 this year and all 106 stores closed for good.
Scottish clothing brand M&Co and wellies retailer Joules were among many other familiar brands that went bust in 2022.
But shoppers still have reason to be cheerful as other retailers expand their operations.
The Sun revealed that discount retailer Costco is expanding in the UK and plans to open 14 more warehouses over the next two years.
Bonmarche will open at least seven new stores after filing for administration in 2019.
Once-huge bakery chain Patisserie Valerie, which also collapsed into administration and closed most of its stores, has started reopening branches.
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Wilko shops have already returned to the UK high street under new ownership after the chain collapsed last year.
Wenzels, Greggs, Dunkin’ Donuts, and The Cornish Bakery are all also expanding their presence in the UK.
