New Look store closures as 2 high street sites bid farewell to shoppers
The leading fashion retailer has announced the dates for closing several high-street stores, leaving shoppers stunned. New Look is set to permanently close its doors in St Austell, Cornwall and Gateshead, Tyne and Wear, as part of plans to close nearly 100 stores in response to challenges from recent Autumn Budget tax changes.
Huge clearance sales have been launched in the stores earmarked for imminent closure, with the first to close on Tuesday, March 4, in Cornwall. The White River St Austell branch, one of three New Look stores in Cornwall, posted paper signs in its windows last month with a QR code that shoppers can scan to continue shopping with New Look online. According to CornwallLive, the sign reads: “St Austell, thanks for having us. But it’s time to say goodbye. This store will be closing on Tuesday, March 4.”
Locals have shared their frustration with the closure on social media, branding it “devastating” and “terrible”. One person claimed there have been “so many closures” in the area.
It leaves two remaining New Look stores in Cornwall, in Truro and Falmouth, but New Look will be shuttering sites elsewhere in the UK.
The next closure will be in Gateshead, with the chain’s Team Valley Retail World branch pulling down its shutters on March 9.
A Facebook post encouraged customers to visit New Look “before it’s too late” to snag massive clearance sale bargains. With summer approaching, all swimwear is priced at just £1, tops at £3, dresses at £5, bottoms at £7, and boots at £12.
Finally, the retailer’s St George’s Shopping Centre in Preston will close on March 20.
A note in the window read: “Preston St George, thanks for having us. But it’s time to say goodbye. This store will be closing on Thursday, March 20.” The retailer has not confirmed the reason for the closures, and it is uncertain how many staff will be affected.
In an effort to accelerate its downsizing, New Look has already closed three stores this year. The Carillon Court Shopping Centre branch in Loughborough closed on January 21, the Wickford, Essex store closed on January 24, and Bracknell’s Peel Centre shop followed suit on January 30.
As lease expiry dates loom, around one-quarter of New Look’s 364 stores face potential closure, putting approximately 91 locations and their employees at risk within the company’s 8,000-strong workforce.
This is a stark contrast to the 600 stores New Look boasted in 2018.
Last week, New Look announced 26 store closures in Ireland and whispers of possible liquidation. To clear stock, New Look has launched a colossal 50% off clearance sale online, offering bargains from as low as £2.60.
The urgency for rapid store closures and liquidation sales follows Chancellor Rachel Reeves’ announcement in October that national insurance contributions for employers are rising.
This hike is anticipated to heavily impact retailers, with the British Retail Consortium forecasting a staggering £2.3 billion hit to the sector. A spokesperson for New Look has maintained their commitment to physical stores and digital presence, stating: “Our store estate is an important part of our business, alongside our best-in-class website and app.”
Addressing store closures, they stated: “On occasion, we do have to close stores, either due to the landlord’s request or because the site becomes unviable.”
Yet, New Look remains optimistic about potential growth: “However, we always remain on the lookout for appropriate new opportunities across the country and continue to invest in our existing store estate.”
