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CLARKS is permanently closing a small number of its stores as part of a plan to save the struggling chain.
The footwear retailer has decided not to reopen some of its 347 UK shops once the enforced closure of non-food stores comes to an end.
Sources told Sky News that Clarks has recently appointed investment bank Rothschild to explore financing options for the loss-making business.
The chain has reportedly also furloughed thousands of its store staff under the government’s coronavirus job retention scheme, and it’s now assessing options for the remainder of its workforce.
A Clarks spokeswoman told Sky News: “Clarks continually reviews all its stores to ensure that they are the right size and located in the right areas in order to provide the best possible service and offering to its customers.
“As part of this normal review, we have decided not to renew the leases on a small number of stores and as such, these will cease to trade and will not reopen following the coronavirus closures.
“We have a strong duty of care to our employees and are doing everything we can to minimise the impact on colleagues.”
More to follow…
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