‘Retail is finished’ cry shoppers as major high street chain with 20 stores to close branch before Christmas

It reads: "Dear valued customer, we are sorry to inform the Lacoste Leicester Boutique's last day of trade will be the 3rd December 2023. We thank all our customers for their loyalty over the years."

It comes as another blow for the shopping centre as it follows the closure of the Designer Furniture Outlet just a few weeks ago.

Other shops that have left the shopping mall include Paperchase which closed earlier this year after falling into administration and L'Occitane En Provence which closed in June.

Local shoppers took to social media to react to this most recent blow to the city.

One person said: "At this rate, there will be nothing left constantly being shut down and not replaced".

Another commented: "Retail is finished as we know it".

While a third added: "Not surprised people just don't have that kinda spare cash nowadays".

Leicester is not the only area of the country where retailers are vanishing from the high streets at a rapid rate.

The rising cost of living has left cash-strapped customers staying at home rather than popping down to the local shops at the weekend.

A rise in internet shopping during the pandemic has also meant a shift away from towns and cities.

Fuel and parking charges all add up meaning that shoppers are opting for buying online, and sometimes even getting free delivery.

Possibly the biggest shock in recent months was the demise of Wilko.

The much-loved discounter fell into administration in August after failing to find a buyer for the entire business.

Rival discounter Poundland did take on 71 of the old Wilko locations and it has now opened them all up under its own brand.

B&M also agreed to buy up to 51 Wilko locations in a £13million deal, but it is not yet clear which locations these are or when they will be re-opening.

The Range also stepped in and bought the Wilko brand name and website, which pleased shoppers when it made a return last month.

However, it is not bad news for all retailers as some are looking to grow their offering.

TK Maxx is reportedly looking for new locations as part of expansion plans.

And Poundstretcher recently announced plans to bring 50 new shops to the high street before the end of the year.

Earlier this year, the Sun also revealed bargain retailer Costco plans to open 14 new warehouses around the UK over the next two years in a major expansion for the chain.