CLOSING TIME
Exact date high street bargain chain with 500 branches to shut ‘excellent’ store in days
Watch The Sun's business editor Ashley Armstrong explain why retailers close branches
A MAJOR discount chain with 500 branches is set to shut one of its stores for good in days.
Savers is shutting its shop in The Galleries shopping centre, Bristol, in another blow for the area.
1
According to , a sign on the window of the discount retailer read: “This Savers store will be closing on July 27.
"Your nearest Savers store will be Broadmead, Bristol. We apologise for any inconvenience caused."
Locals have taken to social media to vent their frustration at the store closing.
One person said on Facebook: "Soon the city centre going to be a ghost town."
READ MORE IN MONEY
A second wrote: "This country is closing down Mr Starmer can you please switch the lights off as you leave."
A third commented: "One of my fav shops such good prices."
While a fourth posted: "The Galleries is an outdated shopping centre with little footfall!
"Only thing keeping it afloat is Poundland and Subway."
Most read in Money
Britain's retail apocalypse: why your favourite stores KEEP closing down
Reviews for the store are glowing, with shoppers calling it "excellent" and "brilliant".
Locals wishing to visit Savers following the closure will need to visit the chain's other stores in Broadmeed.
The cause of the closure is understood to be due to the upcoming demolition of the shopping centre.
Several stores in the centre have closed in recent months.
The Jack Wills shop closed its doors in January for the last time.
Major toy chain also pulled down the shutters of its site in the Bristol shopping centre.
Elsewhere, it isn't the only Savers to shut its doors recently.
Savers is shutting its shop in Haverfordwest, Pembrokeshire, in another blow for the town.
A post on the branch's Facebook page has now confirmed the closure date.
It states: "It is with great sadness that Haverfordwest Savers will be closing its doors for the last time on Saturday, June 15.
"Management and team would like to take this opportunity to thank all our amazing customers, past and present for your custom and support and wish you all well in the future.
"Thank you all."
Locals have taken to social media to vent their frustration at the store closing.
One person said on Facebook: "Terrible the way Haverfordwest as gone."
Another said: "Sorry to see you guys go from Haverfordwest...
"Always great service from all the staff and a great selection of products and great value."
Locals wishing to visit Savers following the closure will need to trek to the chain's other stores in Tenby or Carmarthen.
Savers was purchased by A.S. Watson Group, the world's largest international health and beauty retailer, in 2000.
Established in 1841, A.S. Watson Group owns over 16,100 stores under 12 retail brands in 28 markets and has about 130,000 employees worldwide.
Other UK brands owned by A.S. Watson Group include Superdrug and The Perfume Shop.
Why are retailers closing shops?
EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.
The Sun's business editor Ashley Armstrong explains why so many retailers are shutting their doors.
In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.
Falling store sales and rising staff costs have made it even more expensive for shops to stay open. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.
The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.
Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.
Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.
Boss Stuart Machin recently said that when it relocated a tired store in Chesterfield to a new big store in a retail park half a mile away, its sales in the area rose by 103 per cent.
In some cases, stores have been shut when a retailer goes bust, as in the case of Wilko, Debenhams Topshop, Dorothy Perkins and Paperchase to name a few.
What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.
They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.
RETAIL WOES
Other retailers, such as Iceland, Boots, and Matalan, have been reducing the number of their high-street branches.
Rising rents, energy bills, and the cost of living have also caused many retailers to fail.
Several big retailers have fallen into administration in the past year, including Wilko, Paperchase, and most recently, The Body Shop and Ted Baker.
The Body Shop collapsed into administration on February 13, putting its almost 198 branches at risk of closure.
Since then, it has closed down 82 locations.
However, it's not all bad news for the high street, as several other retailers and hospitality venues have plans to expand.
Beer giant Heineken announced plans to invest £39million to help reopen 62 previously shuttered British pubs.
Aldi has announced that it will open 35 new UK stores.
The openings form part of Aldi's long-term target of 1,500 stores in the UK.
The supermarket is set to invest £550million in expanding its UK footprint this year alone.
Aldi said each new store opening will create around 40 new jobs on average.
In recent months, Asda has been opening hundreds of convenience stores as it seeks to rival major players Tesco and Sainsbury's.
B&M plans to open "not less than" 45 brand new stores across the UK in each of the next two consecutive years.
Purepay Retail Limited, the parent company of Bonmarché, Edinburgh Woollen Mill (EWM), and Peacocks, 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.
One of the UK's favourite bakery chains, Greggs, has exclusively revealed to The Sun plans to open more outlet branches by the end of 2025.
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.
The brand opened two new stores in March, and a further three new shops will open this month.
READ MORE SUN STORIES
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.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
Plus, you can join our Facebook group to share your tips and stories
Topics