A FASHION chain with 62 branches is set to close a shop in days after being taken over by Next.
Joules, known for its wellies and raincoats, will be pulling down the shutters on another of its stores at the end of the week.
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The Joules site in The Lexicon shopping centre in Bracknell will be shutting its doors on January 19.
Next saved the struggling brand in 2022 after it collapsed into administration.
Shoppers have reacted to the news that the Bracknell site will be closing on social media.
One said: “OMG. What is happening to our high street, there won’t be any soon, unless you want to eat or gamble, not good at all.”
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Another commented: “No way, my favourite shop.”
A third wrote: “Too many people buying online rather than in shops.
“Shortage of footfall bound to lose money.”
And a fourth posted: “And another one bites the dust!”
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As part of the £34million deal, Next secured the jobs of 1,450 workers and 100 stores.
However, a total of 19 shops closed their doors for good.
The Bracknell shop is one of several other sites to have shut in the past year as part of restructuring plans.
Three other sites shut down between May and August in 2023, these include Chelmsford, Harrogate and Nottingham.
In April, Next announced that the relaunch of Joules had been moved forward from March 2024.
It transferred Joules’ online operation onto its own in October, five months earlier than planned.
Next said at the time the move was intended to secure “cost savings” at Joules but will mean that “a number of tasks performed by Joules personnel will be absorbed into Next teams or no longer be needed”.
At its peak, Joules had 132 stores and employed 1,600 people.
Shoppers can browse the entire Joules collection on its website.
And it is not the first time that retail giant Next has taken over a struggling business.
Made.com was rescued from administration in 2022.
Now, Made.com has opened its first brick-and-mortar store since being acquired.
The fashion giant also recently snapped up retailer Fatface for a whopping £115.2million.
Next’s growing list of retail acquisitions and cement the group as one of the most prolific buyers of rival high street fashion chains.
Earlier this year, Cath Kidston was bought by Next after falling into administration.
Next started selling Gap clothing online in late 2021, after it took over the running of the high street brand.
It then started selling Gap clothing in stores in early 2022.
It also agreed a sale to buy struggling lingerie brand Victoria’s Secret in a move that saved its UK shops and website.
Earlier in 2022, it took a stake in baby and maternity clothing retailer JoJo Maman Bebe.
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 on their way.
Several major brands have also collapsed, such as Wilko and Paperchase.
Many high street retailers have been struggling to get by, especially during the Covid-19 pandemic.
Energy costs have risen and more shoppers than ever are choosing to order online rather than head into stores.
This has left some retailers grappling with budgets and have no choice but to close stores to cut costs.
Several big-name chains are pulling down the shutters for the final time this month.
Jack Wills in Worcester announced it will be closing down for good on January 30.
Boots revealed it would be closing 300 stores over the next year as part of plans to evolve its brand.
Supermarket chain Co-op is pulling down the shutters on its branch in Peacehaven, East Sussex, on January 20.
The Flannels site in Market Place Shopping Centre, Bolton, will pull down its shutters on January 24, according to local news reports.
High street fashion chain Peacocks is set to pull down the shutters of its branch in Bury St Edmunds, Suffolk, on January 25.
Entertainment retailer HMV is shuttering its branch in Boston, Lincolnshire, on January 27.
And, the hospitality sector has also been hit, seeing pubs like Wetherspoons and restaurants like Frankie & Benny’s and Chiquito shut their doors.
Plus, the UK’s biggest nightclub operator, which has 50 venues, is at risk as it plans to call in administrators.
Elsewhere, Body Shop fans have shared their dismay after the retailer announced it is closing down a major service within weeks.
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