Major UK retailer to shut more than a dozen stores before ChristmasDobbies Garden Centres has disclosed the impending closure dates for some of its outlets following last month's announcement of a restructuring plan to tackle "historically uneconomical rent costs". In October, the chain revealed a restructuring plan to close 17 unprofitable stores, including 11 main garden centres and six Little Dobbies stores. The retailer announced closing sites would impact 465 of its 3,600 employees and leave it with just 60 garden centres. Though Dobbies currently has 77 locations across the UK, it is seeking temporary rent reductions at nine sites in addition to those earmarked for closure. Initiated in August, Dobbie's financial revamp warned of potential store shutdowns, including a 110,000 sq ft garden centre at The Junction, Antrim, which opened in October 2023. It is one of the retailer's newest premises and holds the title of the largest Dobbies garden centre. But despite opening just months ago, the site was included in a list of 17 unprofitable stores due to be shuttered at the end of 2024. Recent developments saw the retail giant reach a deal with The Junction’s landlords, Lotus Property and Tristan Capital, that saved it from closure. This means the store will stay open, and all staff will be retained. However, the same can't be said for several Little Dobbies sites that have already shut down, including sites in Edinburgh Stockbridge, Chiswick, and Westbourne Grove, which ceased trading yesterday, November 24. Dobbies sites that have already closed
As for those yet to close, six sites are expected to lock their doors for good by the end of 2024. However, it should be noted that these are subject to court approval of the retailer's restructuring plans. Sites in Huntingdon, Inverness, Reading, and Stratford-upon-Avon are holding stock clearance sales, though they are yet to receive an exact closing date. Dobbies stores closing in 2024
Meanwhile, Dobbies is seeking rent reductions from landlords at nine sites: Aylesbury – World’s End, Hare Hatch, Havant, Leicester, Lelant, Morpeth, Northampton, Rugby, and Stapleton. Dobbies isn't the only major retailer that has announced store closures in the run-up to Christmas. House of Fraser, the department store giant, will close one of its most iconic locations in Bluewater, Kent, at the end of November. House of Fraser has operated out of a large unit on two floors of the destination shopping centre for 25 years. However, shoppers will see the branch close on November 27. Widespread closures will continue into the new year, with WHSmith, Millets and Homebase expected to shut sites between December and February. Source link Posted: 2024-11-25 22:40:06 |
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