This year has been particularly difficult for everyone,
especially for the UK high streets.
Indeed, with the coronavirus, the lockdowns, temporary closures, social
distancing and the reduced number of tourists, shops have been experiencing a
considerable decrease in sales. While some have managed to survive by moving
online, restructuring their business or cutting jobs, others could not save
themselves. Let's have a look at some of the retailers that disappeared from
the market this year.
Beales
This department store chain is 139 years old. Opening its doors more than a
century ago, it employed 1,050 people before announcing its first closures. Its
outlets welcomed visitors for the last time in March just when things started
to get bad. Beales fell into
administration and there were plans to close only 12 of its 23 stores. However,
a deal could not be concluded with potential buyers and it had to shut down all
of its shops.
TM Lewin
This retailer was already in troubled waters and the fact that sales of formal
menswear dived after the pandemic did not help. Early in 2020, the brand was
acquired by Stonebridge Private Equity through its subsidiary Torque
Brands. Nonetheless, just two months later, the new owners announced that they
will be closing all of its physical outlets: 66 shops. However, consumers can
still get clothes from TM
Lewin since all sales have moved online.
TM Lewin sells formal menswear © Royalty free image
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