Sports Direct will be axing its Newmarket Road store in Cambridge.
The store has launched a massive closing down sale, slashing prices to clear stock before it disappears for good.
Meanwhile a popular outdoor clothing chain is set to close yet another location in just days.
Trespassat at the Highcross shopping centre in Leicester is next on the chopping block.
The shop will close its doors for the final time on Monday March 31.
The outdoor retailer previously announced the closure of six UK outlets, including branches in Norwich and Sutton Coldfield in 2023.
HIGH STREET STRUGGLES
It comes as other retailers, both independent and industry giants, continue to struggle.
Dozens of shops are set to close across the country before the end of the month in the latest blow to UK high streets.
Just a few months in to 2025 and it’s already proving to be another tough year for many major brands.
Rising living costs – which mean shoppers have less cash to burn – and an increase in online shopping has battered retail in recent years.
Just this week former staple of the high street Quiz crashed into administration with the immediate closure of 23 stores.
New Look bosses made the decision to axe nearly 100 branches as they battle challenges linked to Autumn Budget tax changes.
Approximately a quarter of the retailer’s 364 stores are at risk when their leases expire.
This equates to about 91 stores, with a significant impact on New Look’s 8,000-strong workforce.
It’s understood the latest drive to accelerate closures is driven by the upcoming increase in National Insurance contributions for employers.
The move, announced by Chancellor Rachel Reeves in October, is expected to hit retailers hard – and the British Retail Consortium has predicted these changes will create a £2.3billion bill for the sector.
Meanwhile, the WHSmith brand name looks set to vanish from British high streets after 230 years.
In a fresh update, Boots UK also told The Sun that 253 stores have now shut as part of cost-cutting plans.
And, Homebase launched a big closing down sale as two more stores will shut amid 35 closures this month.
RETAIL PAIN IN 2025
The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion.
Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April.
A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024.
Three-quarters of companies cited the cost of employing people as their primary financial pressure.
The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year.
It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year.
Professor Joshua Bamfield, director of the CRR said: “The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025.”
Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.
“By increasing both the costs of running stores and the costs on each consumer’s household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020.”
