A JEWELLERY chain with 89 stores has issued a major update after unveiling plans to close a swathe of branches.
Beaverbrooks has confirmed when it will shut seven sites across March and April following a review.
Five shops are closing in England: Birmingham Fort, High Wycombe, Huddersfield, Croydon and Sutton Coldfield.
Meanwhile, two Scottish branches are shutting, in East Kilbride and Dundee.
This is the full list of stores shutting and their closure dates:
- East Kilbride, Scotland – March 16
- Dundee, Scotland – March 16
- Birmingham Fort – March 23
- High Wycombe – March 23
- Huddersfield – April 5
- Croydon – April 6
- Sutton Coldfield – April 6
It comes after The Sun exclusively revealed Beaverbrooks would be closing the seven branches deemed “no longer commercially viable”.
Anna Blackburn, managing director for the jewellery chain, said the sites would close following a business performance review.
She added: “At Beaverbrooks we pride ourselves on our people-first culture and open, honest relationships with our colleagues.
“Our directors delivered the news in person to each team member.
“We aim to retain as many colleagues as possible within other Beaverbrooks stores or the wider business, and are working closely with each individual affected to provide them with options for their specific needs, supporting them with their next steps whatever they may be.”
She added that the retailer plans to open a new store in Harrogate this Spring while some of its branches are being renovated.
[bc_video account_id=”5067014667001″ application_id=”” aspect_ratio=”16:9″ autoplay=”” caption=”Why are so many pubs and bars closing?” embed=”in-page” experience_id=”” height=”100%” language_detection=”” max_height=”360px” max_width=”640px” min_width=”0px” mute=”” padding_top=”56%” picture_in_picture=”” player_id=”default” playlist_id=”” playsinline=”” sizing=”responsive” video_id=”6352178578112″ video_ids=”” width=”640px”]Beaverbrooks said in its most recent accounts filed on Companies House profitability in the 53 weeks to March 2, 2024, had “reduced considerably” despite an increased turnover.
Turnover is the total amount of money made by a business over a certain period of time.
Beaverbrooks said the drop off had been caused by an increase in worker’s pay, property refurbishments and repairs.
The seven upcoming closures come after Beaverbrooks shuttered a store in Romford, London, last March.
It’s worth bearing in mind, retailers often close branches and open them in other areas based on customer demand and trends.
[authenticated-scripts src=”%3Cscript%20class%3D%22palin-poll%22%20src%3D%22https%3A%2F%2Fwww.thesun.co.uk%2Fpollingwidgets%2Fv3%2Fwidget.js%3Fquestion_id%3D108027%26game%3Dpolling%22%3E%3C%2Fscript%3E” type=”embedded” width=”100″ /]RETAIL SECTOR STRUGGLES
The retail sector has been hit hard in recent years as the trend towards online shopping intensifies.
The most recent data from the Office for National Statistics (ONS) shows online retail sales increased from 5% of all retail sales in 2008 to 27% in 2022.
Shoppers have also been feeling the pinch in recent years following sky-high inflation which has dented their wallets and purses.
It has led to a number of major retailers having to close stores to shore up their finances.
Boots announced in 2023 it would shut 300 of its branches in a bid to slim down its high street presence while WHSmith is in talks to sell off 500 of its stores.
Jewellery chains have been forced into closing branches as well.
Claire’s has closed a number of stores in recent years, including in Gillingham, Nuneaton and Newton Abbott.
T H Baker also shuttered a branch in Cambridge in May last year.
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