{"id":3813,"date":"2023-08-25T12:00:25","date_gmt":"2023-08-25T12:00:25","guid":{"rendered":"https:\/\/tekmonk.edu.vn\/bio\/massive-loss-as-high-street-retailer-bought-by-home-bargains-confirms-permanent-store-closure-in-weeks\/"},"modified":"2023-08-25T12:00:25","modified_gmt":"2023-08-25T12:00:25","slug":"massive-loss-as-high-street-retailer-bought-by-home-bargains-confirms-permanent-store-closure-in-weeks","status":"publish","type":"post","link":"https:\/\/tekmonk.edu.vn\/bio\/massive-loss-as-high-street-retailer-bought-by-home-bargains-confirms-permanent-store-closure-in-weeks\/","title":{"rendered":"‘Massive loss\u2019 as high street retailer bought by Home Bargains confirms permanent store closure in weeks"},"content":{"rendered":"\n\n
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A RETAILER bought out by discounter giant Home Bargains is closing one of its branches permanently in another blow for the high street.<\/p>\n

Quality Save, which has 14 stores across the North-West of England, is shutting its Stalybridge store in October.<\/p>\n<\/p>\n

1<\/p>\n

Home Bargains bought out Quality Save in JanuaryCredit: Alamy<\/p>\n

An exact date for the closure is yet to be confirmed.<\/p>\n

A spokesperson for Home Bargains, whose parent business TJ Morris bought out the company in January this year, said: “We are proposing to close the Stalybridge store that we acquired earlier in the year.<\/p>\n

“Our business case is built on a thorough evaluation of future profitability, and this store does not fit our business model.”<\/p>\n

Colleagues at the store will be offered alternative roles at a nearby Home Bargains branch on the same hours, the spokesperson said.<\/p>\n

They added: “We want to ensure all colleagues remain within our business and in line with our original communication we have a role for all store colleagues.”<\/p>\n

Residents who use the Stalybridge store have shared their shock following the announcement of its closure.<\/p>\n

One person said: “This is a great little shop and I hope there is a change of mind.”<\/p>\n

Meanwhile, a second resident said: “Shocking amazing store and staff massive loss to Stalybridge.”<\/p>\n

It comes after a number of other retailers have closed stores in 2023, including big high street brands such as Argos, Iceland and Paperchase.<\/p>\n

Why are retailers closing branches?<\/h2>\n

High street retailers have been struggling in recent years as consumers turn their attentions to online shopping.<\/p>\n

The Centre for Retail Research say the online share of retailing was 6.6% in 2006, but by 2019 had soared to 19.2%.<\/p>\n

.u15e07f47108b368c6f920d1f28566aa3 , .u15e07f47108b368c6f920d1f28566aa3 .postImageUrl , .u15e07f47108b368c6f920d1f28566aa3 .centered-text-area { min-height: 80px; position: relative; } .u15e07f47108b368c6f920d1f28566aa3 , .u15e07f47108b368c6f920d1f28566aa3:hover , .u15e07f47108b368c6f920d1f28566aa3:visited , .u15e07f47108b368c6f920d1f28566aa3:active { border:0!important; } .u15e07f47108b368c6f920d1f28566aa3 .clearfix:after { content: “”; display: table; clear: both; } .u15e07f47108b368c6f920d1f28566aa3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #E67E22; } .u15e07f47108b368c6f920d1f28566aa3:active , .u15e07f47108b368c6f920d1f28566aa3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #D35400; } .u15e07f47108b368c6f920d1f28566aa3 .centered-text-area { width: 100%; position: relative; } .u15e07f47108b368c6f920d1f28566aa3 .ctaText { border-bottom: 0 solid #fff; color: #ECF0F1; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u15e07f47108b368c6f920d1f28566aa3 .postTitle { color: #2C3E50; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u15e07f47108b368c6f920d1f28566aa3 .ctaButton { background-color: #D35400!important; color: #ECF0F1; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https:\/\/eay4j36dydu.exactdn.com\/wp-content\/plugins\/intelly-related-posts\/assets\/images\/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u15e07f47108b368c6f920d1f28566aa3:hover .ctaButton { background-color: #E67E22!important; } .u15e07f47108b368c6f920d1f28566aa3 .centered-text { display: table; height: 80px; padding-left: 18px; top: 0; } .u15e07f47108b368c6f920d1f28566aa3 .u15e07f47108b368c6f920d1f28566aa3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u15e07f47108b368c6f920d1f28566aa3:after { content: “”; display: block; clear: both; } <\/p>\n
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See also<\/span>  Optical Illusion Visual Test: If you have Eagle Eyes find the Odd Boat in 18 Seconds<\/span><\/div>\n<\/div>\n<\/div>\n
<\/div>\n

<\/a><\/div>\n

The trend increased during the coronavirus pandemic as shoppers were forced to stay at home.<\/p>\n

High inflation since 2022 has meant people’s money isn’t going as far too.<\/p>\n

All of these factors, combined with higher energy costs have led to a number of retailers struggling financially.<\/p>\n

Famous brands such as Cath Kidston, Paperchase and M&Co all crashed into administration this year.<\/p>\n

M&CO has since relaunched as an online retailer.<\/p>\n

Wilko meanwhile plunged into administration earlier this month, putting over 12,000 jobs at risk.<\/p>\n

Rivals Poundland and B&M are reportedly in talks to buy some of its stores.<\/p>\n

HMV’s billionaire owner Doug Putman has also reportedly put in a bid for the troubled business.<\/p>\n

A number of retailers have not gone bust, but have still had to close stores.<\/p>\n

Argos has already pulled down the shutters on 37 of its UK stores and five have already closed, or are due to, this month.<\/p>\n

Meanwhile, Co-op and House of Fraser have also closed branches this summer.<\/p>\n

However, some retailers are opening stores too, including B&M, Primark and the Original Factory Shop. <\/p>\n

Some are opening branches within days.<\/p>\n

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.<\/p>\n

You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.<\/p>\n

Categories: Optical Illusion<\/a>
Source: newstars.edu.vn<\/a><\/p>\n<\/p>\n

Links: ‘Massive loss\u2019 as high street retailer bought by Home Bargains confirms permanent store closure in weeks – Tekmonk Bio<\/a>, ‘Massive loss\u2019 as high street retailer bought by Home Bargains confirms permanent store closure in weeks – Kungfutv<\/a>, ‘Massive loss\u2019 as high street retailer bought by Home Bargains confirms permanent store closure in weeks – Blogtomoney<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A RETAILER bought out by discounter giant Home Bargains is closing one of its branches permanently in another blow for the high street. 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