LOST SPARKLE
Popular jewellery store to close after 55 years as it launches huge closing down sale
The closing down sale will last until stock is sold
A POPULAR jewellery store will shut after 55 years, sparking a massive store wide sale.
Robert Gatward Jewellers in Thame, Oxfordshire will close its doors on Christmas Eve, just in time for shoppers to pick up some Christmas present bargains.
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The Thame high street shop has already begun its massive store-wide sale, with owners Keith and Bridie Gill saying they have to move £4million in stock.
The sale will see jewellery discounted by 50 per cent including diamond rings, precious stone pieces, earrings, necklaces, bracelets and rings.
All pieces will be sold on a first- come, first-served basis and the closing down sale will last until stock is sold.
The store has been in its 17th Century Grade II listed premises in Thame town centre ever since it opened.
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Current owners Keith and Bridie bought the business in 1999, after it was owned by its namesake Robert Gatward who opened the store in 1969.
Speaking to The Bucks Herald, Bridie said: "It’s a magical industry to work in and we have loved running this store, it’s been wonderful.”
Keith added: "I enjoy everything about this store, the customers, the staff, the happiness.
"We get to share such joyful occasions with our clients, and go on their life journey with them.
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“The closure of our Thame store really is the end of an era for Thame. Our customers will be gutted that we are closing the store.
"It’s not been an easy decision to close the Thame store, but we believe it is the right decision.
"It’s a conclusion that really has been reached with a heavy heart."
It comes after a massive stationary chain announced it would close a popular store just before Christmas.
Ryman stationer has more than 200 stores across the country, including in cities such as Brighton, Glasgow and London.
It sells everything from office supplies to kids' stationary essentials.
But shoppers in Stoke-on-Trent will soon need to find an alternative retailer as Ryman is set to shut its store in the Longton Exchange shopping centre for good.
It will open for the final time on November 30, according to local news reports.
Meanwhile, a beloved pub will hold one last party before permanently shutting its doors.
The Sarah Moore sports pub in Leigh-on-Sea, Essex, will be turned into a residential property after it closes its doors, to the devastation of locals.
The pub's landlords shared the sad news on Facebook after being told the lease on the building would come to an end.
Fans have described the closure as the 'end of an era' and said 'there's no other pub like it' in the town.
In a social media post the landlords said: "The building has been up for sale for some time with the intentions of it being turned into a residential property."
The pub said January 4 would be its last evening of trading.
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.
What else is happening on the high street?
Shoppers have faced a swathe of closures on their local high streets in recent years as many of their favourite chains shutter sites.
The cost-of-living crisis has meant households have less money in their pockets and so are cutting back on their spending.
As a result, high street shops have seen lower footfall and less money landing in the tills.
That, along with ongoing restructuring plans and high rents, have forced many chains to close locations.
Figures from the Centre for Retail Research revealed almost 10,500 UK shops closed for the final time in 2023.
The 12-month period also saw over 119,000 jobs lost across the sector.
According to the centre's data, 1,846 stores closed and 23,982 retail jobs were lost during the first six months of 2024.
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November will be no different, with Co-op, Decathlon and Wetherspoon among those closing sites.
Of course, it's not all bad news. In some cases branches will be replaced with bigger and better shops.
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