Shopping
Clothing retailer announces shock closure of store at Scots shopping centre
A MAJOR clothing retailer has announced the shock closure of one of its stores in a busy Scottish shopping centre.
Scotts is located on the lower level of Braehead Shopping Centre in Glasgow.
But signs appeared in the shop window this week announcing its closure.
The large sign, which reads ‘CLOSING DOWN’, was put up on the shopfront window in front of the mannequins.
The popular brand sells both men’s and women’s clothing as well as shoes and accessories.
It is known for stocking brands such as Fred Perry, Lacoste, Calvin Klein and BOSS.
The massive shopping centre has undergone some changes in the last few months.
A number of stores have seen huge renovations as bosses carried out upgrades at the centre.
Health retailer Holland & Barrett reopened last month after it expanded into a bigger unit in a bid to give customers a “better wellness experience”.
Lingerie store Ann Summers closed for a few weeks as works got underway to give the space a more modern feel.
It opened again back in March after alterations were made to reflect the brand’s newer look.
Greggs also closed after bosses made changes to the internal layout of the popular bakery’s unit.
Additional seating areas were added to allow customers to have the option to sit and enjoy their baked goods while shopping.
JD is also currently undergoing works as the Sportswear retailer expands into a bigger space.
Jewellery store Beaverbrooks is also currently closed for the same reason.
Steve Gray, Head of European Retail Asset Management at Global Mutual, told Retail Focus that the changes are being made to keep the centre “fresh and compelling” for shoppers.
He said: “We work closely with our tenants to ensure our offer remains fresh and compelling for guests.
“We are therefore delighted that these much-loved brands have decided to invest in their presence here.
Read more on the Scottish Sun
“It reflects confidence in the centre, our relationships and in physical retail more broadly.
“We’ve seen robust year-on-year footfall growth, reflecting the positive response from our customers – underscoring Braehead’s position as a prime retail and leisure destination.”
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 Paperchase, Cath Kidston, 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.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
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