A POPULAR low cost chain has launched an enormous closing-down sale earlier than closing a key department.
Latifs, a reduction homeware chain primarily based in Birmingham, is closing one among its shops.
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The model, which operates out of two branches, is closing its outlets in Bilston, Wolverhampton.
The shop, situated within the Loxdale Industrial Property on Northcott Street, will shut for the ultimate time in November.
Because of this, the model has launched a large closing-down sale forward of this.
A banner hung outdoors the Latifs retailer reads: “Closing down sale.
“Every thing should go!
“Department closes November 10.”
Latifs was based in Birmingham in 1956 and is famed for its slogan of saving buyers “kilos not pennies”.
The cut price model employs a 40-strong group delivering an “Aladdins Cave of clearance bargains”.
Customers can bag something at a decreased value, together with bedding, linen, towels, plasticware, kitchenware, rugs, and far, far more.
As soon as the Bilston retailer closes, Latifs will solely function from a single retailer in Pickford St, Digbeth, Birmingham.
Customers can even proceed to buy a whole lot of things on-line by visiting www.latifs.co.uk.
The Solar has contacted Latifs to substantiate the rationale for the Bilston retailer closure.
It’s also regular for retailers to open and shut branches in numerous areas relying on buyer demand.
Plus, if shops are situated shut collectively, companies might select to merge them to assist cut back their overhead prices.
Why are retailers closing outlets?
EMPTY outlets have grow to be an eyesore on many British excessive streets and are sometimes symbolic of a city centre’s decline.
The Solar’s enterprise editor Ashley Armstrong explains why so many retailers are shutting their doorways.
In lots of circumstances, retailers are shutting shops as a result of they’re not the money-makers they as soon as have been due to the rise of on-line buying.
Falling retailer gross sales and rising workers prices have made it much more costly for retailers to remain open. In some circumstances, retailers are shutting a retailer and reopening a brand new store on the different finish of a excessive road to replicate how a city has modified.
The issue is that when an enormous store closes, footfall falls throughout the native excessive road, which places extra outlets prone to closing.
Retail parks are more and more in style with buyers, who need to have the ability to get simple, free parking at a time when native councils have hiked parking fees in cities.
Many retailers together with Subsequent and Marks & Spencer have been shutting shops on the excessive road and taking greater shops in better-performing retail parks as an alternative.
Boss Stuart Machin just lately stated that when it relocated a drained retailer in Chesterfield to a brand new large retailer in a retail park half a mile away, its gross sales within the space rose by 103 per cent.
In some circumstances, shops have been shut when a retailer goes bust, as within the case of Wilko, Debenhams Topshop, Dorothy Perkins and Paperchase to call a couple of.
What’s more and more widespread is when a series goes bust a rival retailer or non-public fairness agency snaps up the mental property rights to allow them to personal the model and promote it on-line.
They could go on to open a handful of shops if there may be buyer demand, however there are not often ever as many shops or in the identical locations.
It is not all the time doom and gloom on the excessive road.
A number of different main retailers have plans to extend their retailer counts.
German discounter Aldi has introduced it can open 35 new UK shops this yr. The openings type a part of Aldi’s long-term goal of working 1,500 shops within the UK.
Asda has been opening a whole lot of comfort shops because it appears to rival main gamers Tesco and Sainsbury’s.
Purepay Retail Restricted , the mother or father firm of Bonmarché, Edinburgh Woollen Mill (EWM) and Peacocks, Purepay Retail Restricted, has stated it needs to open 100 new excessive road shops over the subsequent 18 months.
Residence Bargains has stated it needs to “finally have between 800 and 1,000 stores open”.
Primark can be opening new branches and investing and renovating greater than a dozen of its present outlets.
Lidl is ready to open a whole lot of recent shops throughout the UK.
Screwfix is ready to open 40 new shops nationwide as its proprietor, Kingfisher, seeks to broaden the DIY model’s nationwide presence.
Superdrug has plans to swing the shutters up on 25 new branches within the coming months.
Tesco has revealed plans to open 70 extra shops throughout the UK over the following yr as a part of main growth plans.
WHSmith has turned its focus to the journey facet of its enterprise, with plans to open new websites in airports, railway stations and hospitals.
