Startups
How A College Dropout Grew Whole Foods Into The Company Amazon Bought For $13.7 Billion
October 15, 2021
December 18, 2024
Shoe Zone, a major high street retailer with over 300 stores, has announced plans to close some locations, attributing the decision to challenges stemming from the Autumn budget.
The retailer did not specify how many stores will close but emphasized that rising operational costs and economic pressures exacerbated by government policies have made some locations unsustainable.
This development comes as inflation has risen again, further straining consumer spending and increasing overhead costs for businesses.
Retailers like Shoe Zone, which cater for budget-conscious shoppers, are particularly vulnerable to fluctuations in disposable income and rising supply chain expenses.
The closures are part of a broader trend of high street struggles, with many retailers facing mounting financial pressures.
As the economic landscape evolves, businesses are calling for government support to navigate these challenges and protect jobs.
Further updates on affected locations and potential staff impacts are expected in the coming weeks.
Source: Sky news
Image: GB News
