UK discount chain announces fresh store closures
The high street has taken a hit in recent years, first with the pandemic and second, the cost of living crisis. Both events have drastically changed the way consumers shop and spend.
Back in August, Retail Gazette reported: “According to the British Retail Consortium, 6,000 shops have closed down in the UK in the last five years as a result of crippling business rates, a wave of administrations during the pandemic, and hesitancy around new openings.”
Retailers and supermarkets have been affected, with popular British staples Boots, M&S and Iceland all closing the doors of some shops in 2023.
Poundstretcher, a UK-based chain of discount stores selling garden, storage, kitchen, bedding, furniture and more, is the latest to face closures.
According to The Sun, the store in Ammanford, Wales, will join the long list of stores Poundstretcher is shutting down. Signs have been placed outside offering 20 percent off everything left.
Adam Price, MS for Carmarthen East and Dinefwr, expressed his concern that the Poundstretcher store in Ammanford will be closing. While he can understand the pressures affecting businesses at the moment, he acknowledged that this closure will come as a “major blow” to employees, South Wales Guardian reported.
He said: “Redundancies such as this are never good news, but to come just before the Christmas period will be particularly difficult for staff. I hope that there is an alternative found soon so that staff can be sure of their future.”
Adam urged anyone affected to contact him at [email protected].
According to The Sun, 10 Poundstretcher stores are set to shut or have already closed their doors.
Poundstretcher explained: “The national challenges around lorry driver shortages and global challenges around container shortages impacted our ability to maintain stock levels, which resulted in a number of stock shortages across the estate.”
But it’s not all bad news, as the retailer also announced its plans to open 50 new stores by the end of this year.
Poundstretcher stores that have closed or will close:
- St Austell
- Hatch Warren
Express.co.uk has contacted Poundstretcher for comment.
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