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Major high street shop closing two stores for good today – see...
A MAJOR high street retailer is closing two stores for good today.
B&M is pulling down the shutters on its sites in Boucher Road, Belfast, and Queens Drive Retail Park, in Kilmarnock.AlamyB&M is closing two stores for good today[/caption]
Its branch in the Broadwalk Shopping Centre, Bristol, is closing on March 29 too.
A lot of businesses have struggled since the coronavirus pandemic, which saw town and city centres turn silent and footfall reduced.
Plus, in recent months, inflation has soared which means the cost of everyday essentials has risen for consumers.
Research from analytics company Kantar revealed food inflation shot up to 17.1% in February.
Combined with the higher cost of rent, energy and mortgages, many households are feeling the pinch.
This can mean people spend less which is bad news for shops, restaurants and pubs.
B&M isn’t the only retailer struggling – some well-known brands have announced closures already, or have plans to shut down stores this year.
This includes B&Q, Halfords, House of Fraser, H&M and Iceland.
In January, Lloyds Pharmacy announced it is withdrawing its services across 237 Sainsbury’s branches “over the coming months”.
In December last year, retail giant M&Co fell into administration for the second time in two years.
Meanwhile, Paperchase has said it will close 106 stores after collapsing into administration.
A number of Wetherspoon sites have been sold off or are currently under offer too.
Some of the pubs that have already been sold off include the Harvest Moon in Orpington, Kent, Coal Orchard in Taunton, Somerset and The Willow Grove, in Southport, Merseyside.
In other shopping news, Sainsbury’s shoppers have been rushing to buy a £18 item scanning at the tills for £1.
Plus, Asda is selling a giant 11 litre air fryer for under £70.
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