CLOSING TIME
Homeware chain with 80 locations closes store leaving shoppers ‘gutted’ and saying replacement shop is ‘ludicrous’
Read below to find out which replacement shop has angered locals
SHOPPERS have been left gutted as a homeware chain with 80 locations has announced it will close a store.
The Homesense in Salisbury revealed that it will be shutting its doors before the end of the month, and locals aren't happy with what will replace it.
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The homeware company, part of TJX International, which owns TK Maxx, confirmed the closure with signs in the window of its Churchill Way West store.
A Homesense spokesperson said: "Our store will be closing during the week of February 24.
"We appreciate the support of our loyal customers and associates over the years.
"We look forward to welcoming you to TK Maxx Salisbury in Cross Keys Arcade, where you can continue to find high-quality, top-brand homeware, fashion, gifts, and children's wear at amazing value."
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Shoppers are taking to Facebook to share their disappointment and their outrage at what they could see take its place.
Lidl has reportedly submitted plans to take the vacant lot right down the road from a Waitrose.
Smyths Toys next to Homesense closed on January 5, and the empty store is also expected to be part of the redevelopment to make way for Lidl.
One person commented: "Ludicrous to put Lidl right next to Waitrose.
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"There's a real need for a supermarket on the Wilton side of town."
Another replied: "Gutted its shutting love this shop."
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A third said: "What a shame. Loved that shop. Always find something different in there."
Salisbury customers' closest Homesense stores will be in Southampton (Above Bar Street) and Bournemouth (Castlepoint Shopping Centre).
TKMaxx has 432 stores across the UK according to the latest financial accounts.
Its sales in the UK topped £4billion for the first time in the year to February 3, 2024, up 3.6& from £3.89billion the previous year.
Pre-tax profits plunged 42% from £172.4million to £120.7million due to a one-off exceptional item of £58.8million credit in 2023 though.
Some retailers have closed a few branches here and there for various reasons, like when a store lease has come to an end.
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Other examples of one-off rather than widespread closures is if there are changes in the area, like a shopping centre closing or being redeveloped, and in some cases a shop will close to relocate to another area.
Some chains have faced tougher conditions though, forcing them to shut dozens of stores, or all of them in the worst case.
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."
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