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December 18, 2020

UK kitchenware retailer Lakeland reveals plan to close four branches

British kitchenware chain Lakeland has reportedly revealed its store closure plans across the UK early next year.

British kitchenware chain Lakeland has reportedly revealed its store closure plans across the UK early next year.

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BBC reported that the retailer decided that it will shut four branches located in Ipswich, Cardiff, Epsom, Surrey and Perth.

The decision has been taken following a review of its network and will risk 40 people losing jobs.

The Ipswich store is situated in Ipswich Borough Council-owned 15th Century building Ancient House in Buttermarket.

Speaking of the development, the council was quoted by the broadcaster as saying: “We’re disappointed to be losing a good tenant, but this is a decision made by Lakeland as part of a national review of stores due to market conditions.

“We are hopeful of securing a new tenant for the Ancient House in 2021.”

According to the retailer, the Ipswich store will close in early January and the outlets in Cardiff and Epsom and Surrey the following month. The Perth branch will wind up after two months in May.

Founded in 1964, Windermere-based Lakeland operates nearly 70 shops in the country.

The retailer expressed regret over the plans and said it would support its store teams.

Lakeland was quoted by BBC as saying: “The experience our customers receive in our retail stores remains integral to our ethos to deliver exceptional customer service and wherever there are opportunities to trade profitably, we will seek to agree, renew and extend leases with landlords.”

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.