• April 15, 2024

Shoe Zone Shops Face Closure Threat

Which Shoe Zone Shops Are Closing?

SHOE shop chain Shoe Zone has put up ‘closing down’ posters at its last Bristol city store, with the head office refusing to confirm a closure date. This publication has contacted the footwear retailer for further comment.

The discount shoe retailer has seen profits halve due to soaring inflation and National Living Wage changes.

Ely

The High Street is being hit by a number of shops closing down. Shoezone in the town centre has ‘closing down’ signs in the windows and it is not yet known when it will close down. Somerset County Gazette has contacted the store for further details but has received no response.

Staff at the Cheshire store, which is in the Golden Square Shopping Centre, were told on Wednesday they could lose their jobs. Signs stating ‘closing down’ were in the window and workers said they quickly took them down after hearing their jobs were safe.

Shoezone has announced it will axe 20 stores and cut jobs after profit losses due to rising inflation. Inflation has pushed up business costs and shoppers are spending less – which has affected retailers like New Look, Poundstretcher and TK Maxx. A shift to online shopping has also contributed.

Bedminster

Bedminster has lost a major retailer in the latest spate of high street closures. The discount shoe chain Shoe Zone has pulled out of the town centre, following the departures of Prezzo and HSBC. The town council said the loss of the store was a “concern”, but it was still confident that the town’s rich history of shopping would continue.

The discount footwear retailer is closing stores after posting a profit loss in its half year results. Its profits dipped to PS2.5 million, as it continued to face pressure from inflation and the national living wage. However, digital revenues were up by 73 per cent, making them the highest of any retail segment.

The company has reportedly warned that it could close up to 90 stores unless changes are made to business rates. The company has a number of shops across the north, including one on Well Croft in Shipley. Large ‘closing down sale’ signs have been put up in the window of the store.

Broadmead

In a town where several national chains have left, Shoe Zone looks set to follow suit. The value footwear chain has put up posters in the shop windows of its last remaining Bristol city store, announcing a closing down sale. Head office has yet to confirm whether the store on Broadmead will be closed permanently or just relocated.

The chain has already closed nine stores this year and five more will shut before the end of 2023. It plans to replace them with new “big box and hybrid” formats, which will have more stock and a wider range of styles.

But the company also faces inflationary pressures, mainly from National Living Wage increases. This year, it swung to a loss of PS2.5 million in the half year to April, with profits down almost PS5 million on the same period in 2021. Digital sales, however, rose to around one in six of its overall revenues.

Newton Abbot

THE boss of Shoezone has warned he could close up to 90 stores within the next couple of years if the Government does not radically change how it calculates business rates. The retailer has 460 stores and Mr Smith said he fears that up to a fifth of them are at risk of closing down unless the antiquated system is changed.

Nine Shoe Zone sites have already closed this year – and five more will shut later this year. Closing down signs have been put up in Crewe, Hinckley, Beccles, Edinburgh and the Isle of Wight. The stores are expected to close by September although official dates have not yet been announced.

Locals in Beccles have expressed their disappointment with the latest announcement. Shoppers spotted the closing down signs in the windows and say it is another blow to the town centre which has already lost Iceland, Prezzo and HSBC in recent weeks. The town needs more shoppers to make it viable – and it needs businesses that people will spend money in, not just drive by.

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