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LOCKDOWN has been a tough time for the high street but for some shops its been harder than others.
While thousands of retailers open their doors today for the first time in nearly three months, many have announced that they’ve shut up for good.
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High street stores were already struggling with a drop in footfall and a rise in online shopping before coronavirus but lockdown has been “hammer blow against the sector”, says the Centre for Retail Research (CRR).
The research group reckons that this year another 20,000 shops and restaurants will close for good, partly as a result of the crisis brought about. by the pandemic.
In 2019, 16,073 shops shut their doors forever, leaving 143,128 workers without a job – and this year is predicted to be a lot worse, with 235,704 expected to be on the horizon.
High Street staples including Laura Ashley, Cath Kidston, Oasis and Warehouse are already on the edge of going bust or have already called it a day.
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Here are the list of troubled retailers that you won’t see opening up stores today – and some of them have closed their doors permanently:
Aldo
Shoe retailer Aldo collapsed into administration at the beginning of June and announced that five stores will remain permanently closed.
Administrators, RSM, will now explore options for the remaining eight UK stores.
Customers in the UK can continue to purchase Aldo footwear from its online platform, as they have done throughout the coronavirus crisis.
It comes after the footwear retailer filed for creditor protection in Canada, the US and Switzerland and administration in Ireland.
Antler
Luxury luggage brand Antler went into administration in mid-May, with the loss of 164 jobs out of a 200-strong workforce.
What type of stores can reopen from June 15?
HERE’S a list of some the key retailers that will be allowed to reopen from next Monday:
- Fashion shops
- Charity shops
- Betting shops and arcades
- Tailors, dress fitters and fashion designers
- Auction houses
- Antique stores
- Retail art galleries
- Photography studios
- Gift shops and retail spaces in theatres, museums, libraries, heritage sites and tourism sites
- Mobile phone stores
- Craft fairs
- Similar types of retail
The iconic British suitcase maker, founded 106 years ago, appointed KPMG as administrators.
The firm’s failure was triggered by the halt to global travel and shutdown of stores amid the pandemic, KPMG said.
It was bought by fashion tycoon, Michael Lewis, in February through his holding company ATR.
Brighthouse
Rent-to-own firm BrightHouse, which had 2,400 employees, went bust in March during the first week of lockdown and appointed Grant Thornton as administrator.
The high-cost credit firm had already been struggling to stay afloat due to a surge in compensation claims over irresponsible lending.
But after investors withdrew support for a proposed restructuring plan because of the coronavirus crisis, it shut up shop for good.
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Cath Kidston
Vintage fashion brand, Cath Kidston, closed all 60 of its UK stores in April with the loss of 908 out of 940 jobs.
A pre-pack administration deal was struck by the owners of the brand allowing it to continue trading online.
The chain appointed Alvarez & Marsal (A&M) as its administrators on Friday, April 3.
While its parent company, Baring Private Equity Asia, bought the brand, as well as its e-commerce and wholesale side of the businesses from administrators.
Debenhams
The struggling chain went into administration on April 11, for the second time in 12 months, putting 22,000 jobs at risk.
The company appointed business advisory firm FRP Advisory to oversee the process and it last went bust in April 2019.
More than 100 of its 142 stores have reopened today however, 22 will remain permanently closed leaving thousands out of a job.
Its Irish business, which is made up of 11 stores with around 1,400 staff, has also ceased trading.
Laura Ashley
Laura Ashley went bust in March, just before the lockdown was brought in, putting 2,700 jobs at risk.
It had been doing well before the pandemic struck, during the seven weeks to March 13, with trading up 24 per cent on the same period a year earlier.
But it said the virus had an immediate and significant impact on trading and its main shareholder, MUI Asia Limited, was not able to step in with the money needed.
Monsoon Accessorize
Monsoon Accessorize has permanently closed 35 stores with the loss of 545 jobs.
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The retailer entered administration in the first week of June after the coronavirus crisis shattered its turnaround plan.
Hundreds of employees will be made redundant, despite its founder Peter Simon buying it out of the pre-pack administration almost immediately.
As part of the deal, an additional 450 jobs will be transferred to Adena Brands, which is owned by Mr Simon.
Oasis and Warehouse
Fashion giants Oasis and Warehouse went bust on April 15 leading to 1,800 staff bring placed on furlough, and 202 being made redundant.
Deloitte was appointed to manage the process of deciding what will happen next.
Quiz
Fashion chain Quiz placed part of its business that runs its 82 standalone stores into administration.
The fashion retailer will eventually look to buy back the stock and some of the assets from Kast for £1.3 million, so it can try to renegotiate better rents with landlords.
The decision will put 93 jobs at risk, the company has announced, with plans to keep 822 of the 915 affected staff with the group.
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