A HUGE discount chain with 750 stores is set to shut a popular branch much to shoppers’ fury.
The move comes as part of plans to build 115 new houses at the site in Ladybarn, Manchester.
The B&M in Ladybarn is closing down to make way for more affordable housing[/caption]
But residents vented their frustration at the loss of their local B&M in the area – “under-served” by shops.
In fact, plans submitted by developers Triple Jersey Ltd were previously rejected based on the opposition.
But they have now been approved amid the pressure for affordable housing.
As reported by the BBC, Labour councillor Murtaza Iqbal told the Manchester City Council planning committee: “We are under-served with just one [shop] already, and Tesco just over the border in Didsbury.
“It’s not the removal of a shop, it’s the removal of something people rely on.”
And local Jean Smith, 74, slammed the decision to give Triple Jersey Ltd the green light.
The resident, who has lived in the area for nearly 50 years said parking is already “horrendous”.
Meanwhile, neighbour Vivien Powell, 75, said: “I’ve been right against it.
“I enjoy going to that shop, I know the staff there.”
This comes after the discount chain’s boss left the company — as a big profit warning raised questions about his leadership of the firm.
B&M earlier this week tried to position Alex Russo’s exit as retirement after two and a half years as chief executive.
But few believed those claims, as Mr Russo’s departure aged 54 came with a triple whammy warning of a sales slump, weak confidence and a profits hit due to currency rates.
Analysts at Panmure Liberum said the “retirement of Russo and a downgrade are unlikely to be mutually exclusive”.
Andrew Wade, at Jefferies, said it was not “a surprise, given the group’s consistent over-promising”.
Mr Russo’s departure comes eight months after The Sun first raised questions about why the boss of a FTSE 100 retailer would want to keep the media and investors in the dark about its trading.
We said it was a slippery slope when firms stop talking to the financial press about their results, especially when readers are its customers.
It raises suspicions all is not well if there cannot be open conversations on performance.
Analysts warned at the time B&M’s decision to scrap guidance was a clue its performance was weakening.
B&M shares fell this week by as much as 10 per cent before recovering to be down 2 per cent at 284.97p.
How can I save money at B&M?
While a closing down sale offers big discounts on already bargain prices, there are still ways to save at B&Ms more than 600 stores that remain open.
The B&M barcode scanner app allows you to discover discounted items before the staff have even reduced them.
The scanner is located on the B&M Stores mobile app, which can be downloaded for free on your smartphone.
Shoppers can download it on the App Store or Google Play.
Once you’ve got the app, click on the “scan” button at the bottom of your homepage.
This will then bring up the camera on your smartphone, which you’ll need to use to scan barcodes.
When you’ve found a product you want to scan, simply point your smartphone camera toward its barcode.
The app will then automatically bring up the item’s price – this is when you’ll know if it is reduced or not.
Bargain hunters say some items come up as £1, 50p or even 10p through the app.
Shoppers should also keep an eye out for products with a white reduction sticker on.
This means they will have a certain amount slashed off the price shown on the label.
Shop for products at the end of the season.
RETAIL PAIN IN 2025
The British Retail Consortium has predicted that the Treasury’s hike to employer NICs will cost the retail sector £2.3billion.
Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April.
A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024.
Three-quarters of companies cited the cost of employing people as their primary financial pressure.
The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year.
It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year.
Professor Joshua Bamfield, director of the CRR said: “The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025.”
Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.
“By increasing both the costs of running stores and the costs on each consumer’s household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020.”
