A HIGH street giant which has over 1,000 branches across the UK is set to shut a store in a town centre for good. WHSmith confirmed it is "regrettably" closing its store in Street, Somerset , early next year. The retailer said it decided to close the store at 85 High Street as it's no longer "sustainable" to continue trading there.
It added discussions are ongoing with the landlord, but the store is set for closure on January 4. A WHSmith spokesperson said: “Regrettably, it is not sustainable for us to continue trading in this location. “We remain in discussion with our landlord, however we expect our store in Street to close in early 2025.
” READ MORE ABOUT STORE CLOSURES The closure will also force the Post Office , operating within WHSmith, to shut its doors. This will leave the village of 11,000 residents with only one Post Office - located at West End - from next year. The Post Office is now advertising a vacancy for the store on High Street in the hope that local retailers will keep the trading location open.
A Post Office spokesperson said: “WHSmith which operates Street Post Office has made the difficult decision to close its store on 4 January. Most read in Money “The vacancy is advertised on www.runapostoffice.
co.uk and we would welcome interest from local retailers for this business opportunity.” The Post Office told The Sun all staff at the Street store - including those behind the Post Office counter – are WHSmith staff.
The Sun has asked WHSmith how many jobs are at risk due to the closure. Following WHSmith's announcement, residents expressed their disappointment as Rita Rogers said: "Not good news at all. "I feel for the staff, all absolutely lovely people.
"Not good at all for Street; losing WH Smith is a big part of the diminishing high street." Mark Tobin called the closure "simply the worst news" as he told Glastonbury Nub News : "Not just for the wonderful team that will lose their jobs and the loss of another service to the local community, some of them vulnerable and not able to travel to other towns or areas, but devastating for Street High Street." It comes after WHSmith confirmed it will close its store in Stanley Square, Sale , Greater Manchester, on September 14.
The store is set to run a closing-down sale until its closure in September, according to local news outlet Life in Sale. The news about the closure was shared on the Life in Sale Facebook page, and shoppers expressed their devastation. One person commented: "End of an era, it’s been there a long time, hardly any shops now, no point in going to Sale really, I’m almost sure it will be another cafe or restaurant" Another person commented: "How long before one of the supermarkets pull out of Sale? Sale centre is dying at a rapid rate.
" RETAILERS have been hit by soaring inflation and a downturn in spending due to the cost of living crisis. High energy costs and a move to shopping online are also taking their toll. Some high street shops have closed due to businesses opening up in different locations such as larger retail parks.
Shops may also close due to a number of other reasons, such as rising rents. We explain which retailers are closing in 2024: Argos - The brand announced plans to close 100 standalone UK branches last year as it looks to move away from the high street and focus on expanding its presence in supermarkets. B&Q - The chain has over 300 shops across the UK, with two stores closing this year due to leases not being renewed.
It has plans to open more in 2024 too. Boots - The health and beauty chain announced that it would be closing 300 stores last July. Closures are ongoing and this will see the retailer's estate reduced from 2,200 to 1,900 shops.
Clintons - Clintons mulled plans to close 38 shops in a bid to avoid insolvency late last year. We've listed the stores affected . Costa Coffee - The caffeine giant has around 2,000 sites nationwide, so chances are you'll have one near you.
The chain has shut the doors to dozens of its sites recently. We've revealed which stores are due to close this year . Iceland - The supermarket has more than 900 stores but closed nearly two dozen sites in 2023, and more selected shops are due to shut .
Lidl - The supermarket, which has 950 stores, is changing up shop locations, which has meant that some stores have to close . But the retailer is also looking to open 12 new supermarkets . M&S - M&S, which runs 405 stores across the country, has been closing a string of branches across the country in a blow for shoppers.
It's not all bad news, though, because the chain also has big plans to open dozens of new shops . Trespass - The firm announced in July last year that it was closing six branches, but more are on the way . WHSmith - The retail giant, which runs over 1,100 stores, has shut eight stores since March 2023, but more are coming .
A WHSmith spokesperson said: “We can confirm that the WHSmith store in Sale will be closing on Saturday 14 September owing to the landlord’s redevelopment plans. “We are disappointed to be losing our presence in Sale and we would like to thank all our customers for their support and for shopping with us. “We are also extremely grateful for the commitment of our in-store colleagues who we will support with this transition and redeploy to nearby stores, where possible.
” In April, WHSmith announced it would be closing two stores in Huddersfield and Boscombe because it was no longer sustainable to continue trading there. Another store in South Cheshire was also closed down. However, the retailer has also revealed plans to open 15 new stores this year, at airports and train stations in a boost for shoppers.
WHSmith is yet to reveal the list of locations where it is opening branches, or when they will welcome in customers for the first time. It forms part of wider WHSmith's plans to open 110 new shops worldwide. 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. What is happening to the high street? The high street has been hit hard in recent years as shoppers turn to online retailers. High energy costs and business rates have also added pressure to businesses.
This has left some remaining retailers grappling with budgets and having no choice but to close stores to cut costs. A number of major brands have crashed into administration since 2023, including Wilko and Paperchase . The Body Shop also fell into administration and it has seen dozens of branches close.
Administrators for Ted Baker have confirmed 15 sites across England will close permanently in a blow to the high street. READ MORE SUN STORIES Boots nnounced it would be closing 300 stores as part of plans to evolve its brand . M&S has also confirmed store closures and openings with plans to ensure it has the best store locations.
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