A MARKS and Spencer store that has served customers for 10O years is at risk of closing for good.
The retailer has announced a proposal to close its Walworth store in South London leaving shoppers “devastated.”
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The popular store has been serving locals for over 100 years and the news has come as a shock to the community.
Some shoppers have taken to social media to express their sadness at the potential loss of the store.
One person said: “We won’t have anything down Walworth Road soon very sad.”
It’s so depressing to lose it
Social Media user
Another added: “It’s so depressing to lose it.”
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While a third person commented: “What? Why? That is terrible!”
Gordon Scott, M&S Regional Manager, said the proposal to close the store is due to “shopping habits changing.”
He added that the “priority” right now is talking to colleagues about what the announcement means for them.”
Should the announcement go ahead, he said that “wherever possible” they would look to offer staff alternative roles within M&S.
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In 2022, the retailer announced plans to shut 67 “lower productivity” stores as part of a five-year plan to shake up its branch portfolio.
M&S, which runs 405 stores across the country, shut down locations in Manchester, Swindon and Birmingham between August and November last year.
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In addition to this, 40 M&S clothing stores closed between November 2016 and July 2023.
Just recently it announced the upcoming closure of its home store in Kingditch Trading Estate in Tewkesbury, Cheltenham.
If you want to know if your local might be next, we have the full list of M&S stores that are marked for closure in 2024.
However, it is not all bad news for the retailer, or shoppers as in January 2023, it announced it would open 20 more stores over the financial year.
At the same time, it said it’s opening 104 new “bigger and fresher” food stores.
In the last 12 months, it has opened 22 sites including in Liverpool, Leeds, Birmingham and Manchester.
Marks and Spencer is not the only retailer shaking things up in a bid to survive this very difficult retail climate.
Other retailers have been slimming down their 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.
A combination of rising rent and cost of living has created the perfect storm for retailers and many have been unable to survive.
Several big retailers have fallen into administration including Wilko, Paperchase, and most recently The Body Shop.
The Body Shop collapsed into administration on February 13, then putting its almost 198 branches at risk of closure.
Since then it has closed down 42 locations and announced that 21 branches will be closed down this week.
What else is happening on the high street?
Some retailers are bucking the trend and expanding which is good news for shoppers.
Asda is massively expanding its portfolio of smaller Express stores, with plans to open 110 new stores.
Meanwhile, Primark recently confirmed plans to open new branches and invest and renovate more than a dozen of its existing shops.
Discounter chain B&M also said it had plans to open 17 new sites in 2024 with some set to open imminently.
Earlier this year WHSmith also confirmed it would be opening up 15 new shops, but they would not be on the high street.
We have the full list of chains opening stores in 2024 – see if one is coming to a high street near you.
Retailers closing stores in 2024
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 are also taking a toll, and many high street shops have struggled to keep going.
Here’s a list of all the big-name brands closing stores this year:
- Argos – The brand announced plans to close 100 standalone UK branches last year as it looks to move away from the high street and focus on expanding its presence in supermarkets.
- B&Q – The chain has over 300 shops across the UK, so chances are you have one near you, but some stores have closed in recent months.
- Boots – The health and beauty chain announced that it would be closing 300 stores last July. Closures are ongoing and this will see the retailer’s estate reduced from 2,200 to 1,900 shops.
- Clintons – Clintons mulled plans to close 38 shops in a bid to avoid insolvency late last year. We’ve listed the stores affected.
- Costa Coffee – The caffeine giant has around 2,000 sites nationwide, so chances are you’ll have one near you. The chain has shut the doors to dozens of its sites recently. We’ve revealed which stores are due to close this year.
- Iceland – The supermarket has more than 900 stores but closed nearly two dozen sites in 2023, and more selected shops are due to shut.
- Lidl – The supermarket, which has 950 stores, is changing up shop locations, which has meant that some stores have to close. But the retailer is also looking to open 12 new supermarkets.
- M&S – M&S, which runs 405 stores across the country, has been closing a string of branches across the country in a blow for shoppers. It’s not all bad news, though, because the chain also has big plans to open dozens of new shops as well.
- Trespass – The firm announced in July last year that it was closing six branches, but more are on the way.
- WHSmith – The retail giant, which runs over 1,100 stores, has shuttered eight stores since March 2023, but more are coming.
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This post first appeared on thesun.co.uk
