SHUTTING UP
‘Such a shame’ cry devastated revellers as popular bar closes its doors only a year after opening
The bar is set to abruptly close at the end of this week
FANS of a popular bar have been left devastated after the family-run business announced its closure.
Bar 7 was unveiled in Margate town centre in December last year, but the business - with a bistro, bar and hire space - will be shuttering at the end of this week.
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The decision that's left customers devastated was announced by the company's owner Wendy Knight, who ran the popular bar with her husband Douglas and son and daughter Karl and Shelby.
The family say health concerns are behind the shop's closure.
In a statement on Facebook, they said: "We wanted to let everyone know as from the end of next week we will be closing our doors.
"We want to take this opportunity to thank everyone who ever helped us get on our feet and get started, with out you all it couldn’t have happened.
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"We as a family need to focus on our health. This is not goodbye, but more see you later.
"We want to wish the new owners all the best, we will let them make there announcement."
Distraught customers took to the comments of the announcement to express their sadness over the abrupt closure.
One user said: "Such a shame we really enjoyed the comedy clubs, if you open up again anywhere let us know."
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Another commented: "Hope you are all ok."
One concerned customer said: "Oh that's not good sorry hope all is well Wendy."
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And: "Health and your family comes first."
What else is happening on the high street?
Many retailers have had to make changes in recent times in a bid to survive the cost of living crisis.
We have seen several big losses in the last 12 months including popular discounter Wilko and stationary brand Paperchase.
This year, health and beauty chain The Body Shop fell into administration and announced the closure of many of its 200 stores.
Almost 500 staff are set to lose their jobs after 75 stores were earmarked for closure.
Plus, clothing retailer Ted Baker fell into administration in March 2024 too, with 15 stores having shut by April 19.
Other retailers such as Iceland, Boots and Matalan have been slimming down the number of stores they have in their portfolio.
Just this spring Boots is closing a total of nine sites, as part of its wider plans to get rid of 300 locations.
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These closures will see the retailer's total shops reduced from 2,200 to 1,900.
This has upset a lot of locals in the affected towns, however, the health and beauty chain has said where stores are closing there is an alternative shop less than three miles away.
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.
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