A POPULAR homeware chain has shuttered all its stores – as shoppers rush to take advantage of a huge closing down sale.
In a blow to the high street a beloved brand has been forced to wave goodbye to customers after going bust.
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The Home Store + More, in South Lanarkshire, Scotland, has launched an ‘all stock must go’ sale.
Everything at the branch, located in East Kilbride Retail Park, has been slashed in price by 33 per cent.
The company announced the sad news on social media and revealed they will pull the shutters down for good at the end of May.
The Home Store + More has two branches, with the other in Edinburgh.
In the Facebook post, a spokesperson said: “Home Store + More – Closing down sale now on.
“Our UK website is now offline, but our stores will remain open until the end of May.
“Shop at least 33 per cent off everything in-store now.”
Devastated shoppers expressed their sadness at the post.
One cried: “Gutted. Love the East Kilbride store and the staff are all amazing in there.”
“Such lovely staff and a great store – just left with a few bags of stuff,” agreed another.
A third added: “So sad for the staff who work in ek Home Store + More UK. Was there today and it was packed – customers all shocked at this news.”
It is unknown why the retailer has decided to shut down its shops.
This comes after fans cried “what will I do without you” as they waved goodbye to a “beautiful” seaside shop.
In another crushing hit to the high street, a popular independent store is set to shutter their branch in Pembrokeshire.
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.
However, additional costs have added further pain to an already struggling sector.
The British Retail Consortium has predicted that the Treasury’s hike to employer NICs from April will cost the retail sector £2.3billion.
At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.
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.”
It comes after almost 170,000 retail workers lost their jobs in 2024.
End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker.
It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date.
This was up 49,990 – an increase of 41.9% – compared with 2023.
It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns.
The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker.
Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations.
Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes.
Professor Bamfield has 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.”
Elsewhere, a beloved high street vintage store has shut down permanently just a few years after opening.
The retailer, in Bristol, waved goodbye to devastated customers on Tuesday.
And, a huge shopping centre announced it will shut “indefinitely” – as more than 30 store owners saw their tenancies scrapped overnight.
The Square Shopping Centre in Birmingham‘s Priory Square has been closed after safety risks were found.
HIGH STREET STRUGGLES
It comes as other retailers, both independent and industry giants, continue to struggle.
Dozens of shops are set to close across the country before the end of the month in the latest blow to UK high streets.
Just a few months in to 2025 and it’s already proving to be another tough year for many major brands.
Rising living costs – which mean shoppers have less cash to burn – and an increase in online shopping has battered retail in recent years.
Just this week former staple of the high street Quiz crashed into administration with the immediate closure of 23 stores.
New Look bosses made the decision to axe nearly 100 branches as they battle challenges linked to Autumn Budget tax changes.
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.
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.
Meanwhile, 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 amid 37 closures last 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.”
