SHOPPERS have been left fearing a “ghost town” after finding out a discounter with 850 UK branches is set to close one of its stores.
Poundland is gearing up to pull down the shutters on its site inside The Shires Shopping Centre in Trowbridge, Wiltshire.
It comes after terms on the shop’s lease could not be agreed between the retailer and shopping centre’s management.
The Sun asked Poundland to comment on the closure, and confirm an exact closure date and we will update this story when we have heard back.
Sarah Moore, manager of The Shires, told The Wiltshire Times: “We are saddened to confirm that Poundland has decided not to renew their lease at the centre.
“Despite extensive negotiations, an agreement could not be reached.
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“Looking forward, we are excited to welcome new businesses to The Shires in the coming months, enhancing the shopping experience for our community.”
Shoppers finding out Poundland is shuttering the Trowbridge branch have been left devastated.
Posting online, one said: “Ghost town when are the local MPs gonna get involved and say enough is enough time to cap the ground rent and cap how much rent landlord’s can charge.”
Another saddened local added: “Gosh another empty let. So many empty retail units.
“Think the town hall will be on its own with nothing but betting shops and nail bars.”
Meanwhile, a third chimed in: “Why am I NOT surprised, in another three years Trowbridge will be a ghost town off (sic) empty shops.”
The Trowbridge closure is not the first announced by Poundland in recent months.
The discounter pulled down the shutters on a store in Altrincham, Greater Manchester, just last month, after taking it on from failed chain Wilko last year.
Poundland bought 71 ex-Wilko stores when the retailer fell into administration last year.
The discounter re-branded the locations and opened many up before Christmas.
But since then, several have closed down, including in Ellesmere Port, Galashiels, Scotland, and the Sailmakers Shopping Centre in Ipswich.
In total, Poundland has shut down nine former Wilko locations just months after bringing them back to life.
However, despite the nine closures, it still means Poundland has massively grown its presence on the high street in recent months.
It is also normal for retailers to open and close branches in different areas depending on customer demand.
WHAT ELSE IS HAPPENING ON THE HIGH STREET
The high street has been hit hard in recent years, particularly since the coronavirus pandemic when many businesses were forced to close their doors to the public.
High energy and wage costs, as well as business rates, have seen many retailers having to shutter stores too.
Some big high street names have been lost since the start of 2023.
Wilko and Paperchase have both collapsed into administration, seeing hundreds of shops close and thousands of staff lose their jobs.
Wilko falling into administration left shoppers gutted as they visited their local stores for the final time to say goodbye to staff.
Other retailers have announced vast swatches of closures too, including Boots.
The pharmacy chain said last summer it wanted to close 300 of its branches, adding it would only do so in areas where there was another one nearby.
But it’s not been all bad news across the retail sector.
Discount giant B&M has opened 27 branches this year, while Aldi has its eyes set on opening hundreds more stores in the coming years.
DIY chain Screwfix is also set to open dozens of branches as its owner Kingfisher looks to expand its nationwide presence.
And Lidl is eyeing up potential sites where it is keen to open shops while Paperchase has since returned inside Tesco branches.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
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