A HUGE high street retailer is pulling the shutters down on several shops in just DAYS.
Shoppers are making the most of clearance sales at axed sites across the country.
The major chain plans to close nearly 100 locations[/caption]
The closing down sale in New Look’s Gateshead store[/caption]
Boots are selling for £12 in the closing down sale[/caption]
It comes as New Look bosses made the decision to chop branches in St Austell and Gateshead, Tyne and Wear next week.
The major chain plans to close nearly 100 locations as they battle challenges linked to Autumn Budget tax changes.
The site at Team Valley Retail World in Gateshead, Tyne and Wear will shutter on March 9.
In a post on Facebook, people were urged to head to New Look “before it’s too late” for their clearance sale.
All swimwear has been priced at £1, while tops are £3, dresses are £5, bottoms are £7 and boots are £12.
A shopper on the social media site added that jumpers, coats and shoes are also reduced but are all at different prices.
Another posted a picture of their haul, which included an array of tops and dresses.
Meanwhile, the St Austell branch in Cornwall will close on Tuesday, March 4.
Shoppers disappointed to lose another high street clothing option vented their frustrations on social media.
They dubbed the news “devastating” and “terrible”, saying there had already been “so many closures” in the area.
Others said the decision was “absolutely shocking”, with one complaining: “There will be nothing left in St Austell, such a shame!!”
It comes after the closure of the fashion retailer’s branch in Porth, Rhondda Cynon Taf earlier in February.
And since the retailer announced its plans to speed up downsizing, a total of six stores have either shut their doors or been earmarked to close.
New Look’s store in the Carillon Court Shopping Centre, Loughborough, closed on January 21.
Elsewhere, it’s Wickford, Essex branch shut on January 24, while the Bracknell Peel Centre shop closed on January 30.
Approximately a quarter of the retailer’s 364 stores are at risk when their leases expire.
This equates to about 91 stores, with a significant impact on New Look’s 8,000-strong workforce.
Back in 2018, New Look had about 600 stores across the UK.
It’s understood the latest drive to accelerate closures is driven by the upcoming increase in National Insurance contributions for employers.
The move, announced by Chancellor Rachel Reeves in October, is expected to hit retailers hard – and the British Retail Consortium has predicted these changes will create a £2.3billion bill for the sector.
A New Look spokesperson said previously: “Our store estate is an important part of our business, alongside our best-in-class website and app.
“We have recently invested over £3million in our stores in Greater Manchester to trial new omnichannel initiatives to improve customer experience.
“We also continue to invest in our thriving online platform which has resulted in a strong online sales performance, with volumes significantly outpacing last year and an improved online margin.
“On occasion we do have to close stores, either due to the landlord’s request or because the site becomes unviable.
“However, we always remain on the lookout for appropriate new opportunities across the country and continue to invest in our existing store estate.”
And New Look isn’t the only retailer struggling.
The WHSmith brand name looks set to vanish from British high streets after 230 years.
In a fresh update, Boots UK also told The Sun that 253 stores have now shut as part of cost-cutting plans.
Meanwhile, Homebase launched a big closing down sale as two more stores will shut amid 35 closures this month.
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.”
