‘Even the clock has gone’ cry shocked shoppers as high street icon shuts down town centre branch for good
SHOPPERS have been left gutted after a major high street retailer closed the doors on one of its branches for good.
M&S has permanently pulled down the shutters on its branch in Neath, Wales, in a blow for locals.
The posh retailer confirmed in February the branch was earmarked for closure, but didn’t announce what date it would shut.
But a picture recently posted on Facebook shows signs have been put up in the shop’s windows saying “we’re now closed”.
The post also shows even a clock on the wall of the branch has been taken down.
Commenting on the post, shoppers have been left gutted after finding out the store has closed permanently.
One said: “What are they doing to Neath? Apart from destroying it.”
A second added: “Sadly we are now seeing the demise of Neath.
“Once a thriving market town , but no longer anymore.”
Others have been left wistful after finding out the clock has been taken down.
One said: “That thing was like Big Ben in Neath.”
Another added: “It’s so sad to see M&S has gone and the clock they could have left the clock surely.”
A third commented: “Awww I am going to miss that clock.”
It comes following a string of Marks and Spencer store closures as part of radical restructuring plans announced by bosses.
Branches in Manchester, Swindon, Peterborough and Cheltenham have all closed since August last year.
In total, the chain has said it wants to close 67 “lower productivity” sites between 2022 and 2027.
But yesterday, it confirmed it had delivered some of its best results in almost 30 years.
The posh retailer said it has gained a million new customers, as its boss Stuart Machin ruled out introducing exclusive discounts to products for loyalty card customers.
Total M&S sales rose by 9.3% to £13billion in the year to March – and pre-tax profits spiked by 41% to £672.5million.
Its shares have also climbed by 76% in the past year to 287.8p, with the company now valued at £5.6billion.
What else is happening on the high street?
The high street has been hit hard in recent years as shoppers increasingly turn to online retail.
High energy costs and business rates have further piled pressure on businesses.
This has left some remaining retailers grappling with budgets and having no choice but to close stores.
Several major brands have fallen into administration since the start of 2023, including Wilko and Paperchase.
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.
This year, The Body Shop fell into administration and it has seen dozens of branches close.
Boots also announced it would be closing 300 stores over the next year as part of plans to evolve its brand.
But it’s not all bad news.
Poundland, Lidl and Aldi have all been expanding, pouncing on shoppers’ appetites for cheap and good quality produce.
Health and beauty retailer Superdrug recently said it wants to open 25 new branches across the UK.
Asda has been opening hundreds of convenience stores in recent months as it looks to rival major players Tesco and Sainsbury’s.
And B&M plans to open “not less than” 45 brand new stores across the UK in each of the next two consecutive years.
The Sun asked M&S to comment.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories