CLOSING TIME
‘Another sad loss for our town’ as iconic high street retailer with 120 shops to close store within days
But it's not all bad news for the legendary retailer
AN iconic retailer is set to close one of its high street shops within day and shoppers have been left devastated.
HMV will be pulling the shutters down on its store in Pescod Square Shopping Centre in Boston, Lincolnshire.
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The store will shut for good on Saturday, January 27.
A spokesman for HMV said: “It is with considerable regret that we have decided to close our Boston shop.
“Shifting consumer behaviours in the town and a lack of investment in its retail district has meant that it is no longer a sustainable location for us.
“We have been in contact with all store staff and are looking to offer them new roles elsewhere in the business where that is possible.
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"We’d also like to thank all our customers over the years for their patronage.”
Shoppers have shared their disappointment at the news on social media.
One Facebook user said: "Another sad loss for our town. We all need each other to survive! Tough times for us retailers."
A second added: "Oh no! Not again. Yes, we will miss it."
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A third wrote: "Omg not another big name gone!"
While a fourth cried: "Devastated. Perhaps one of the only reasons I visit Boston."
HMV tumbled into administration in 2019 and was forced to axe stores and jobs.
But the retailer was rescued from insolvency by Canadian Doug Putman’s Sunrise Records business.
The business has since experienced a turnaround in trading and has returned to profitability amid increased focus on vinyl, live gigs and merchandise.
In November, HMV reopened its historic Oxford Street store, hosting a raft of bands such as Madness, to mark the occasion.
The store, which first opened in 1921, stocks more than 4,000 popular culture merchandise lines and 20,000 vinyl albums and CDs.
More high street closures
Many retail chains are set to close down branches in 2024 and some left the high street altogether in 2023.
Rising costs and a lack of customers through the door have made it difficult for even the largest retailers to survive.
Possibly the biggest shock of last year was the collapse of popular discount chain Wilko.
It disappeared from the high street after failing to find a buyer to take on the whole business.
The Range bought the Wilko brand name and website, and since then has opened up three concept stores in Plymouth, Exeter and Luton.
Stationary chain Paperchase also went bust in 2023 but has since re-appeared in certain branches of Tesco.
Other retailers such as Boots, Poundland and Jack Wills all closed branches in 2023.
According to the British Retail Consortium, 6,000 retail outlets have closed down since 2018.
More changes are in store for 2024 too as some major retailers look to shake up their portfolios.
Large retailers such as Boots, Costa Next and Sports Direct are set to close down some locations.
We have the full list of shops closing down in 2024 including branches of Argos and WHSmith.
What about store openings?
Despite the many closures happening it is not all doom and gloom as some retailers are opening up new stores.
B&M is opening two stores in Porthmadog and Washington on January 18 and January 26.
The popular discounter is also opening a branch in Harrow, London, on February 10, and another in Arnold, Nottinghamshire, on February 21.
It is also opening up a branch in Thamesmead, London, on February 22 and Beaumont Lays, Leicester, a day later.
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Supermarket giant Asda is on track to open more than 1,000 sites throughout the UK and Northern Ireland by March 2024.
Meanwhile clothing retailer Peacocks is set to open six new stores soon.
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