Store closures news and archive

River Island to close 33 stores, putting hundreds of jobs at risk amid restructuring

British high street stalwart River Island has announced plans to close 33 of its 230 UK stores, a move that puts hundreds of jobs in jeopardy as it seeks to restructure its operations in response to shifting consumer habits and rising costs. As reported by the BBC, the company is also negotiating rent reductions across a further 71 locations....

Retail

Forever 21 expected to close all 354 US stores on May 1

Forever 21 is officially shutting its doors. The fast fashion retailer is believed to be preparing to close all of its 354 US stores today, May 1. This is according to court documents obtained by USA Today. The company’s operator, F21 OpCo, had been given until April 30 to find a buyer for the brand, however, no such party has stepped forward....

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Frank and Oak brings forward US store closures amid tariff ‘uncertainty’

Canadian retailer Frank and Oak has confirmed plans to close all of its stores across the US as part of an ongoing liquidation process. In a statement on its website, the company said operations in the region will shutter by the end of April 2025. This is an earlier date than planned. According to Frank and Oak, the shuttering “was moved up due...

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Business

Select Fashion set to close 12 stores across the UK following CVA filing

High street fashion retailer Select Fashion is believed to be closing 12 of its branches over the next two months, almost one year on from its entry into a Company Voluntary Arrangement (CVA). Impacted stores are said to be primarily in the North of England, according to The Sun, which reported that it had seen documents revealing that staff at...

Retail

UK: Nearly 13,500 retail stores closed in 2024, independents hit hardest

New figures have shown that 13,479 retail stores across the UK closed for good over the course of 2024, an increase of 28 percent on levels from the year prior, according to provisional data from the Centre for Retail Research. This reflected a rate of around 37 store closures a day. Almost half of the yearly figure–7,537 in total–shuttered...

Retail

Ted Baker to close all UK stores this week as Frasers talks halt

After a period of reported back-and-forth, it is now believed that talks between Mike Ashley’s Frasers Group and Ted Baker parent company Authentic Brands Group have stalled. The news comes ahead of the imminent closure of Ted Baker’s remaining 31 stores in the UK, which are set to shutter this week. Frasers’ name first came into circulation...

Retail

Ted Baker is closing North American stores amid bankruptcy proceedings

All Ted Baker stores in the North American region are reportedly preparing to close after the British retailer filed for bankruptcy last month. It is believed that 31 of its US stores and nine of its Canada-based stores are to shutter, while both regions are also no longer able to shop via the brand’s online website. This comes shortly after the...

Retail

House of Fraser to shutter two more locations

Frasers Group has reportedly confirmed that two of its House of Fraser locations are set to close in the coming month, one of which is to do so next week. The retailer is preparing to shutter its Solihull space on August 28, while its store in Guildford is also planning to close its doors on September 30. According to various media reports,...

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Retail

Britain loses 6,000 retail outlets in five years amid ‘crippling’ rates

A new report by the British Retail Consortium (BRC) and the Local Data Company (LDC) has revealed that Britain has lost 6,000 retail outlets in the past five years due to “cripping business rates and the impact of covid lockdowns”. The North and Midlands were the most impacted, seeing the highest amount of empty storefronts, while London’s...

Retail

UK store closures reach five-year peak

The number of stores closed in the UK reached a five-year high as more than 17,000 shut their doors in 2022. According to a report from the Centre of Retail Research (CRR), one in five physical stores in the UK closed within the last five years. The number included 14,583 in 2018 and increased to 17,145 last year. The industry has been in crisis...

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Retail

50,000 U.S. retail stores forecast to close over the next five years

The shopping mall may not be dead, but that hasn’t dented the number of retail stores expected to close over the next five years. Between 40,000 and 50,000 shops could be shuttered, according to figures from Swiss investment bank UBS. The outlook is slightly better than during the pandemic, when 80,000 stores were expected to close, but the high...

Retail

Pink Shirtmaker closes flagship London store on Jermyn Street

Pink Shirtmaker has reportedly closed its flagship store on Jermyn Street in London. The LVMH-owned brand reopened its store when the UK’s lockdown was lifted on 15 June but has now closed it permanently, according to This Is Money. The future of its two stores at Heathrow are also reportedly uncertain. The shirtmaker, previously called Thomas...