A HIGH street fashion chain has launched a massive closing down sale as it prepares to bring the shutters down on some shops for good.
Sports Direct is closing two stores this Autumn and has marked down all full price items by at least 20%.
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The sportwear retailer is closing its huge store in Chantry Place shopping centre Norwich later in September.
It comes as shoppers have spotted closing down sale signage advertising that everything is 20% off.
However, the closure comes as Frasers, plans to open a brand new department store in the same shoppoing which will contain retail space for Sports Direct.
A spokesperson for the group said: “We are pleased to confirm that we are transforming the current House of Fraser’s site to provide Norwich customers with larger, elevated stores that offer the world’s most aspirational brands.
“A new 70,000 sq. ft Sports Direct is also set to open, providing access to the world’s best sport and lifestyle brands, including Nike, Adidas and Under Armour, as well as bring more brands from Frasers Group’s ecosystem, including USC, Evans Cycle, Game and Belong, to the location.”
But Frasers is also set to close its Sports Direct store in Newcastle to make way for a new store opposite the current one.
The current store on Northumberland Street has launched a huge closing down sale and shoppers have posted on social media about the bargains they’ve bagged.
One shopper said: “Sports direct on Northumberlald street is closing down and moving across the street
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“BUT… 20% off all full price items including the new football strips limited stock in, but said they were getting more in.”
A spokesperson for Frasers said: “Our Sports Direct Newcastle store is relocating to an over 25,000 sq. ft, elevated store, and will bring both USC and Game to Newcastle upon Tyne customers. The store remains on Northumberland Street and is slated to open in the coming months.
“We are big believers in physical retail and our significant investment into refitting these stores demonstrate not only our commitment to the Elevation Strategy, but also our innovative approach to rethinking large retail spaces to make them fit for the future.”
The new Newcastle store will open in the Autumn.
We’ve previously revealed the three things to always buy at Sports Direct and the items to avoid.
Why are retailers closing stores?
Retailers have been feeling the pinch since the pandemic while shoppers are cutting back on spending due to soaring inflation.
High energy costs and a shift to shopping online after the pandemic are also taking a toll and many high street shops have struggled to keep going.
Brands like Frasers, have been moving and relocating profitable stores and brands within department stores but other brands have been shutting stores for good.
The inability to renegotiate rents and agreements with landlords is also putting pressure on some retailers to pull out of some locations.
A number of well-known retailers including Argos, Lloyds Pharmacy and Poundstretcher have closed stores in recent months.
But others have been hit so hard they’ve been left on the brink of administration.
Wilko announced last week that it has filed a notice of intent to appoint administrators – putting all 400 stores at risk.
It continues to trade as normal for the time being but it is unsure what will happen in the future.
This post first appeared on thesun.co.uk
