River Island, a prominent fashion retailer with a notable presence in Birmingham, has announced the closure of its store located at the Vicar Lane Shopping Centre in Chesterfield. The closure will take effect on Saturday, April 19, marking a significant reduction in the brand's high street visibility. This decision comes shortly after the retailer confirmed that its branch in Willow Place, Corby, will also shut down at the end of this month.
In a post on its Facebook page, the Vicar Lane Shopping Centre encouraged shoppers to take advantage of a final sales promotion, stating, "Get 30% off full price and sale items, in-store ONLY. Don't miss out, the store closes for good at 17.30pm on Saturday April 19, so now's the time to grab a bargain!"
The circumstances surrounding these closures are indicative of broader challenges facing the retail sector. The Centre for Retail Research (CRR) has projected that approximately 17,350 retail sites are anticipated to close nationwide this year, reflecting ongoing shifts in consumer behaviour and the impact of economic pressures on the high street.
The closure of the River Island store in Corby contributes to a difficult period for the region's retail landscape. Recent developments also include the announcement from WH Smith regarding the sale of its high street operations to Modella Capital, the owner of Hobbycraft, in a transaction valued at £76 million. This transition means the 233-year-old WH Smith brand is set to vanish from town centres after a short transitional period.
A spokeswoman for New Look has confirmed the pending closure of their Corby store on June 1, further underscoring the tumultuous state of retail in the area. She stated, "We would like to thank all of our colleagues and the local community for their support over the years. We hope customers continue to shop with us online at newlook.com, where our full product ranges can be found."
Carl Cowling, the group chief executive at WH Smith, reflected on the sale, noting, "This is a pivotal moment for WH Smith as we become a business exclusively focused on travel." He acknowledged the high street business had become a smaller segment of the overall company as the travel division expands. Cowling described the high street segment as profitable and well-managed but indicated that the time was right for a new owner to take on the challenge of revitalising it.
As further store closures loom, the retail landscape continues to evolve, leaving shoppers and employees to adapt to the shifting realities of high street commerce.
Source: Noah Wire Services