A DISCOUNT retailer with 180 stores is set to close a store next week after just a year of trading.
The Original Factory Shop is pulling the shutters down on its Taunton branch for the final time on April 6.
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The retailer only opened up in the town last March but recently announced on Facebook that it will be closing down next week.
Its shop is located in the County Walk shopping centre and shoppers have been reacting to the news on social media.
One person said: “How come you are closing, you haven’t been there that long.”
Another commented: “Oh no, it’s been wonderful having you in County Walk, very sad news.”
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While a third added: “Wishing all the staff the best of luck for the future.”
The store has launched a clearance sale with up to 50% off some items and is encouraging shoppers to come in and grab one last bargain.
In December last year The Sun reported that the chain had closed down its Harwich branch, leaving shoppers saddened.
A spokesperson for the retailer said at the time: “We regularly review the stores across our estate and unfortunately have taken the decision close our Harwich store.
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How come? you haven’t been there that long
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“We are consulting with colleagues at the store and are working hard to support all of those affected.”
Prior to the closure of its Harwich location, the chain also closed down the following stores last year.
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- Chepstow, Wales
- Mildenhall, Suffolk
- Bodmin, Cornwall
- Bideford, Devon
- Stourport-on Severn, Worcestershire
However, it was not all bad news as the popular retailer also opened more than a dozen new department stores between August and October in the following locations:
- Kirkintilloch – opened August 24
- Stonehaven – opened August 31
- Blandford Forum – opened August 31
- Haddington – opened September 7
- Wetherby – opened September 7
- Nairn – opened September 14
- Ashbourne – opened September 14
- Castle Douglas – opened September 21
- Penrith – opened September 21
- Inverness – opened September 28
- Attleborough – opened September 28
- Ayr which – opened October 5
- Ringwood – opened October 5
- Perth – opened October 12
- Lanark – opened October 19
- Peterhead – opened October 26
What are other retailers doing?
Many things are happening on the high street right now with other retailers also making changes.
The cost of living crisis and rising bills mean that many big names are struggling to keep the presence they once had in our town centres.
Earlier this month Boots announced that it will be closing a total of nine sites, as part of its wider plans to get rid of 300 locations.
These closures will see the retailer’s total shops reduced from 2,200 to 1,900.
While it may have upset some locales, the health and beauty chain insists that it is only closing stores where there is an alternative shop less than three miles away.
Marks and Spencer is also shutting down some of its locations as part of its 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.
However, it also opened up several new locations in November, including Lakeside and the Trafford Centre.
We have the full list of M&S store openings and closures – see if yours is on the list.
Last year Argos started to put in place its plans to reduce the number of standalone stores and focus on opening more locations inside Sainsbury’s supermarkets.
It closed 42 UK shops, including all 34 of its branches in the Republic of Ireland last June.
However it is not all bad news for shoppers as despite the difficult trading conditions, some retailers are thriving.
Primark recently confirmed plans to open new branches and invest and renovate more than a dozen of its existing shops.
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Also, supermarket giant Asda is massively expanding its portfolio of smaller Express stores, with plans to open 110 new stores.
We have the full list of chains opening stores in 2024 – see if one is coming to a high street near you.
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.
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