BYE BYE
‘Another nail in the coffin’ sob shoppers as bargain chain with 190 sites to shut another ‘brilliant’ shop in days
Watch our video above to find out what is happening to the high street
SHOPPERS have been left devastated after finding out a bargain chain with 190 sites is closing another branch in days.
Locals have come out to share their disappointment that the store will shut, as another gears up to close on the same day.
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The Original Factory Shop in Brightlingsea, Essex, is pulling down its shutters for good on Saturday (May 11).
The store recently posted the news of the closure on its Facebook page.
It read: "We're sorry to let you know our store will close its doors on May 11, 2024.
"We would like to take this opportunity to thank all of the local community and our store colleagues for their support throughout our time here in Brightlingsea.
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"We'd love to see you in store one final time to say goodbye."
News of the closure has not been met well by shoppers and locals alike.
One branded it "another nail in the coffin", adding: "I think everyone is shopping online now."
Another said: "What a shame, the staff were so nice too."
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A third commented: "Really sorry to hear this. I remember it all being built when I worked in there in the travel department.
"You will most definitely be missed."
Retailers opening shops in 2024
Meanwhile, a fourth said: "Oh no. This makes me so sad."
It comes with The Original Factory Shop set to close another branch on Saturday too.
The retailer, known for selling everything from beauty products, to homeware, eletricals and storage, is shuttering its branch in Hadleigh, also in Essex.
Shoppers have been left gutted after finding out it will close, with one calling it "tragic news".
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
"The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said.
"Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult."
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
Another said: "Oh no. I love this store, such sad news."
The two Essex store closures are not the only ones to be announced by The Original Factory Shop this year either.
It has already pulled the shutters down on seven stores in recent months:
- Bodmin, Cornwall
- Chepstow, Wales
- Fakenham, Norfolk
- Harwich, Essex
- Mildenhall, Suffolk
- Padiham, Lancashire
- Taunton, Somerset
It comes after the retailer, known for selling everything from clothing to homeware and stationery, shut a number of branches last year.
But it's not all bad news, as it has been opening stores across the UK too, as it shakes up its presence on the high street.
The full list of stores that have opened since August 2023 includes:
- Kirkintilloch - opened August 24
- Stonehaven - opened August 31
- Blandford Forum - opened August 31
- Haddington - opened September 7
- Wetherby - opened September 7
- Nairn - opened September 14
- Ashbourne - opened September 14
- Castle Douglas - opened September 21
- Penrith - opened September 21
- Inverness - opened September 28
- Attleborough - opened September 28
- Ayr - opened October 5
- Ringwood - opened October 5
- Perth - opened October 12
- Lanark - opened October 19
- Peterhead - opened October 26
What else is happening on the high street?
It's not all bad news for the high street, as several other retailers and hospitality venues have plans to expand.
Heineken recently announced plans to invest £39million to help reopen 62 previously shuttered British pubs.
Meanwhile, German discounter Aldi has announced it will open 35 new UK stores this year.
The openings form part of Aldi's long-term target of 1,500 stores in the UK.
Asda has been opening hundreds of convenience stores in recent months as it looks to rival major players Tesco and Sainsbury's.
The parent company of Bonmarché, Edinburgh Woollen Mill (EWM) and Peacocks, Purepay Retail Limited, has said it wants to open 100 new high street stores over the next 18 months.
It has yet to give the exact locations where it will open the 100 stores or when they will open.
Home Bargains, which was running just under 600 branches as of last June, has said it wants to "eventually have between 800 and 1,000 retail outlets open".
The major discounter has stopped short of saying when it wants to reach the 1,000 store target, however.
Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.
Screwfix is set to open 40 new stores nationwide as its owner, Kingfisher, seeks to expand the DIY brand's national presence.
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Tesco has revealed plans to open 70 more stores across the UK over the next year as part of major expansion plans.
WHSmith has turned its focus to the travel side of its business, with plans to open new sites in airports, railway stations and hospitals.
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