SHOPPERS have been left devastated after an “excellent” jewellery chain with 23 branches is set to close in months.
The popular retailer is set to bid farewell to its Cambridge store as the lease draws to a close.
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The beloved T H Baker store in Grafton Centre is preparing to roll down its shutters for the last time.
Bosses have announced it is closing for good on May 4.
Expressing regret over the closing, bosses said the move will mark the end of an era.
A company spokesperson said: “We regret to announce that our Cambridge store will be closing its doors for the last time on May 4.
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“This closure marks the end of a cherished chapter in our history, and we are immensely grateful for the support and loyalty of our customers over the years.”
Shoppers praised the store for its “excellent” customer services and great items.
Posting online, a customer said: “It was delightful. We came in to sell an unwanted piece of jewellery, and the whole experience was seamless.”
Another added: “I had a really great service and support.”
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A third penned: “It had a large collection of jewellery and attractive prices.”
But not everything is lost, as the chain is holding “everything must go” deals.
Savvy shoppers will have the chance to snatch up accessories at unbeatable prices.
The closing-down sale includes diamond rings, coloured stone pieces, bracelets, necklaces, and earrings, discounted by 50 per cent.
They added: “We are thrilled to offer a once-in-a-lifetime closing down sale.
“This spectacular event includes 50 per cent off all jewellery, diamonds included, and thousands of products significantly reduced.
“It’s our way of saying thank you and providing you with an unmissable opportunity to secure exquisite pieces at half the price.
“Don’t let this final chance to shop our extensive and luxurious collection at unbeatable prices slip away.”
T H Baker, founded in 1888, is a family-owned business and has since established itself as a leading independent jeweller.
More than half of its overall stores are franchises of Danish jewellery manufacturer Pandora.
The firm also owns a Swarvoski franchise in Watford.
The retailer has already closed a few locations – including a branch in Brighton and Birmingham.
The move follows a wave of closures among retailers across the country.
Fashion giant Next with 510 locations is set to close one of its popular city centre stores.
It is closing the Newcastle branch as it looks to relocate to new premises, although a date for the move is yet to be confirmed.
Other retailers have also been slimming down the number of high street branches, such as Iceland, Boots and Matalan.
Argos also closed 42 UK shops, including all 34 of its branches in the Republic of Ireland last June.
Meanwhile, Ted Baker has recently announced hundreds of jobs and stores are at risk after confirming plans to call in administrators.
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No Ordinary Designer Label (NODL), owned by Authentic Brands Group (ABG) and trading as Ted Baker, filed a Notice of Intention today.
Marks and Spencer is another retailer that has been making changes to its store portfolio.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“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.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included UK Flooring Direct, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
Last year, around 14% of insolvencies were in retail businesses, according to official figures.
