A HIGH street retailer with 87 stores has launches a huge closing down sale as it prepares to shut for good.
Superdry is closing down its branch in Bradford Broadway shopping centre in just two weeks.
Superdry is closing its branch in Bradoford[/caption]
To help shift stock before its closure the pricey brand has launched a major sale.
One bargain hunter took to the Extreme Couponing and Bargains UK Facebook group to share the news with others.
They wrote: “Superdry in Bradford Broadway is closing down. Nearly everything half price. Even half off already discounted items.”
The savvy shopper managed to pick up a Khaki padded jacket for £23.
Jackets and coats in Superdry can retail for anywhere between £80 to over £100.
The Sun also spoke to a staff member at the store who confirmed it was closing on March 15.
It comes just one month after the British business closed a branch at the Union Square Shopping Centre in Aberdeen later this month.
The site closed on February 15 following a 30% off closing down sale.
Superdry made a string of closures in 2024 following tough trading conditions.
The retailer, introduced to the masses by David Beckham, closed 12 stores over the first half of last year.
The fashion brand said last January it was looking at various “cost-saving options” after reports it was considering major restructuring.
This followed the firm saying its revenue had fallen by nearly a quarter to £219.8million in the six months to the end of October 2023.
The fashion retailer said its adjusted loss had nearly doubled to £25.3million.
In July last year it delisted from the London Stock Exchange as part of a restructuring plan.
TROUBLE ON THE HIGH STREET
Plenty of other retailers are closing stores across the high street as households lean more towards online shopping and amid high business rates.
Soaring inflation in recent years has also dented shoppers’ pockets.
The Centre for Retail Research’s latest analysis suggests 13,479 stores, the equivalent of 37 each day, shut for good in 2024.
Of those, 11,341 were independent shops while 2,138 were shut by larger retailers.
The data also showed over half the stores that closed last year were shut due to the store or retailer going through insolvency proceedings.
This is when formal measures are taken to deal with tackling a business‘s debt.
Retailers are shutting stores in 2025 too.
For example, New Look is ramping up a store closure programme ahead of April’s National Insurance hike.
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 its 8,000-strong workforce.
The company has restructured its store estate twice in the past six years, reducing its portfolio from around 600 UK stores in 2018.
It also closed all of its 26 stores across Ireland, marking the end of a two decade tenure in the country.
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.”
