‘What’s next?’ Shoppers cry as 150-store hardware store chain announces exact date it will close another store in just a few weeks
A 150-store hardware store chain has revealed the exact date it will close another store as shoppers clamor: “What’s next?”
Homebase has announced the closure of a popular store within weeks.
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The hardware store chain will close the shutters of its store at Marsh Mills Retail Park in Plymouth on December 3rd.
Customers will have to travel 30 miles east to get to the nearest store in Newton Abbot after the Plymouth store closes.
Shoppers were stunned by the decision and many took to social media to voice their opinion.
One shopper commented on Facebook: “It’s so sad to see another good store leaving Plymouth.”
“I always go there to buy my paints and accessories. They have such a good selection that I haven’t seen anywhere else.”
Another wrote: “So sad to see another go. What’s next?”
And a third added: “Another takeaway shop just like everyone else.”
Homebase, which has 152 branches, has also announced that its Banbury, Oxford branch on Southam Road will also close on December 3rd.
The store is now having a sale, with posters inside and outside the store saying “All stock is reduced” and “Everything must go.”
The retailer will also close its store at the O2 Center on Finchley Road in London on December 10.
This comes after the retailer closed its Newport store in South Wales on September 8th.
Homebase has closed 93 stores since being acquired by Hilco Capital in 2018.
Wesfarmers is known in Australia for its Bunnings chain. It tried to turn Homebase into its own DIY brand.
Before the Hilco takeover, Homebase had 250 branches and 12,000 employees at its peak.
But Homebase soon returned to profit after entering into a CVA agreement and restructuring its business.
The retailer recently launched a major garden sale, offering up to 50% off some items.
Why are retailers closing their stores?
Retailers have been feeling the pinch since the pandemic, while shoppers are cutting back on spending due to rising inflation.
High energy costs and the shift to online shopping post-pandemic are also taking their toll and many high street stores are struggling to continue operating.
Brands such as Frasers have moved and relocated profitable stores and brands within department stores, but other brands have closed their stores permanently.
The inability to renegotiate rents and contracts with landlords is also putting pressure on some retailers to pull out of some locations.
A number of well-known retailers, including Argos, M&S and Poundstretcher, have closed stores in recent months.
But others were hit so hard that they were on the brink of inauguration.
However, some big brands are expanding the number of stores they have.
Marks and Spencer will open nine new stores this month, with some opening their doors for the first time within days.
B&M will also be opening more than a dozen new stores across the UK by the end of 2023.
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