BYE BYE
Major clothing chain with over 150 stores across UK to shut shop in the New Year
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A MAJOR clothing chain with over 150 stores across the UK will shut for good in the New Year.
Matalan will close its site in Chester come January 4 in a blow to local shoppers.
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Many took to social media to share their devastation, with one writing they were "gutted" while another said it was "sad" for the staff.
Another said the area is becoming a "ghost town," and a fourth said they thought the shop "would be next".
A spokesperson for the affordable clothing and homeware store told The Sun it was closing the site because the landlord wants to "redevelop the site".
They added: "Our priority is to support our colleagues and we are working closely with all those affected and where possible offering them alternative positions."
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Shoppers who have returns to make can do so in store until January 4.
After that, they can return to one of the nearby stores or via post if it was an online order.
The nearest Mataln for customers is 4.8miles away in Cheshire Oaks., followed by Bromborough which is 9.9miles away.
It's not the first time that residents have had to wave goodbye to a store.
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In September, Sainsbury's closed its decade-old Local store in Chester city centre.
At the time, a fuming customer wrote online: "Now that's a shame. We often call in on the way back to the car park to get our groceries or dinner.
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"Sadly it's not surprising, because what's made it a little gem, is how easy it was to shop due to a lack of overcrowding."
Matalan has closed a number of stores already this year, including a site in Salisbury.
Several other Matalan shops have also closed their doors in recent months.
Matalan also pulled down the shutters on its clearance store in Church Gate, Leicester, in January.
It also closed its Leytonstone store for the final time last winter after trading for over two decades.
Shoppers in Renfrew were left devastated in last September when it announced the .
What is happening to the high street?
High street retailers have struggled in recent years as shoppers increasingly turn to online retail.
High energy costs and business rates have hit retailers hard.
This has left some businesses grappling with budgets and having no choice but to close stores to cut costs.
Many Brits have turned to second-hand outlets such as Vinted and eBay, making things even harder for charity shops.
Several well-known major brands have fallen into administration including Wilko and Paperchase.
Late last month, Homebase said it would put 74 sites up for sale after it crashed into administration.
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However, its administrators were able to strike a deal to sell the business to retail group CDS, which owns bargain chains The Range and Wilko.
This secured the jobs of 1,600 employees and 70 stores - all of which are set to be rebranded as The Range shops.
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.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
"The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,"; Prof Bamfield said.
"Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult."
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
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