‘About time’ welcome shoppers as bargain chain with 195 stores SAVES shop from closure
SHOPPERS have breathed a sigh of relief after a bargain retailer confirmed it has saved one of its stores from closure.
The branch was set to close after 13 years in a blow for the high street but appears to now be staying open.
The Original Factory Shop store in Milford Haven, Pembrokeshire, Wales, was set to pull down its shutters permanently.
A spokesperson for the retailer, which runs around 170 branches across the UK, told The Sun in January it had taken the decision to close the store and thanked customers for their support.
But in a surprise u-turn, the retailer has said it will keep the store open.
A recent post on the Milford Haven Original Factory Shop Facebook page said: “We have some fantastic news!! The store shall now be staying open!”
The post said normal deliveries will resume within one or two weeks, and that the branch was running a giant sale on ladieswear, menswear and childrenswear.
Shoppers can find the sale items at the back of the store, with up to 50% off.
Shoppers and locals alike have breathed a giant sigh of relief after finding out the branch won’t be closing as initially thought.
One said “about time it stayed open” while another added “I needed to hear this!”
Meanwhile, a third commented: “So happy you’re staying open.”
A fourth, addressing the branch’s staff, said: “So so pleased for you all.”
It comes after The Original Factory Shop opened 16 locations between last August and October as it extended its retail arm across the UK.
It opened stores in Stonehaven, Castle Douglas, Perth and Lanark in Scotland.
It also pulled up the shutters for the first time on branches in Ashbourne, Attleborough and Blandford Forum, England.
But it’s not all been good news for the chain in recent months.
The retailer, which opened its first store in 1969 and now runs over 195 across the UK, has been closing branches as well.
Retailers often close branches and open them in a bid to balance their portfolios and meet demand in certain areas.
The chain closed stores in Chepstow, Mildenhall and Bodmin in August last year.
It also shuttered sites in Bideword and Stourport in May, three months before.
Which other retailers are opening stores?
You might be left thinking it’s all doom and gloom and the high street is crumbling with stores closing left, right and centre.
High inflation over the last couple of years, paired with shoppers turning more to online retail has seen hundreds of businesses close.
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 UK Flooring Direct, 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.
Last year, around 14% of insolvencies were in retail businesses, according to official figures.
High wage and energy costs has also compounded pressures on retailers.
In January, the Centre for Retail Research revealed over 10,000 shops closed for good in 2023, with almost 120,000 jobs lost.
But despite the backdrop, some retailers have been opening branches across the UK offering rays of sunshine.
Asda has been opening hundreds of convenience stores in recent months as it looks to rival major players Tesco and Sainsbury’s.
Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.
WHSmith has turned its focus to the travel side of its business, with plans to open new sites in airports, railway stations and hospitals.
In an update to investors in January, the retailer said it was on track to open 15 stores this year, with a further 15 to follow “each year over the medium term”.
Lidl is also looking to open 12 new stores across the UK as it bids to raise £91million in funding from investors.
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