Animal to shut 21 stores by 2021, putting 500 jobs at risk
FASHION store Animal is to shut all 21 of its UK stores putting 500 jobs at risk.
Owner H Young Holdings said that the retailer was already struggling in an “extremely challenging” market which was “further worsened” by the coronavirus pandemic.
The Poole-based surfer brand said that it will close its doors for the last time in January next year after attempts to save it or sell if failed.
As well as its UK stores, more than 300 other shops stock its products.
In a statement, the Berkshire-based owners seen by the : “As a result of the extremely challenging retail market which has nor further worsened due to Covid-19, H Young announces it will be closing its Animal business by the end of January 2021.
“This will obviously be a very sad announcement for all Animal's hardworking employees and its loyal customers.”
Trouble on the high street
IN 2019 and so far in 2020 we've seen:
- Debenhams axe 22 of its 50 branches. It's now fallen into administration
- Laura Ashley go into administration, closing 70 branches and putting 721 jobs at risk
- Forever21 close 350 stores with its UK branches also at risk
- Jamie Oliver’s “Jamie’s Italian“chain go bust, alongside his Fifteen and Barbecoa restaurants
- Links of London go into administration putting 350 jobs at risk
- Marks and Spencer close 35 more stores as it pushes forward with plans to axe 145 shops across the UK
- Dozens of Monsoon and Accessorize stores close
- While struggling shoe shop Officehas said it “could close shops” as part of restructuring plans
- Fears Pizza Express could be next to go into administration as it “brings in emergency advisers”
- Hairdressing chain Supercutswent into administration in October putting 1,200 jobs and 220 salons at risk
- Maternity and baby retailer Mothercare collapsed into administration in November after 58 years on the high street, putting 2,500 jobs at risk
- Department store chain Bealeswent into administration in January 2020 with 23 shops and 1,052 jobs at risk
- High end fashion brand Ted Baker said it plans to axe 160 jobs in February
- Mobile phone retailer Carphone Warehose said in March that it’ll close all 531 standalone stores in April
The store will continue to trade as normal until any further decisions are made about which stores will close first.
H Young Holdings' sales in 2018 came to almost £220million with a profit of £13.5million, according to Companies House.
It's the latest blow to the high street, which has already seen a number of chains go bust, sped up by the pressures of the pandemic lockdown.
Cath Kidston announced that all 60 of its shops will not reopen once the lockdown is lifted as it moves to be an online only retailer.
Debenhams has said it will close seven UK stores and cutting 422 jobs after falling into administration last week.
At the same time, fashion giants Oasis and Warehouse collapsed into administration.
And last month, Laura Ashley was forced to shut down 70 stores.
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Before the impact of the COVID-19 pandemic was really felt, Beales went into administration in January.
In November, Mothercare collapsed into administration after 58 years on the high street.
Carphone Warehouse also announced it will close all of its 531 standalone stores, in a move that will lead to 2,900 job losses.
The Sun has contacted H Young Holdings for comment.