East joins high street closures as retail sales head south
By Andrew Merrell | 24th April 2018
Figures have revealed the harsh reality for the embattled retail sector so far in 2018 - and there is more to come.
This morning news broke that women's clothing chain East, which has stores in Cheltenham and Cirencester, is joining the list of retailers shutting up shop.
According to analysis from BBC 5 Live some 650 stores have shut or remain at risk of closure so far in 2018.
The radio station's Wake Up to Money program described a high street where stores were battling to stay afloat.
Toys R Us and electrical retailer Maplin - both of which went into administration in February - apparently account for half of the total stores mentioned above.
Staff still working for the toy retailer already know the remaining businesses are due to close next week.
Maplin has said it will be keeping some 217 stores open but "under review" while it is seeking a buyer.
This morning saw no let-up in the bad news with East - described as selling stylish Eastern-inspired clothes, jewellery and accessories - revealing it is the latest to cease trading from May 4.
Debenhams recently sent shivers down the spines of many in the sector when it revealed an 80-plus percent drop in profits.
Marks & Spencer plans to close six properties by the end of April as part of its own store closure plan and a further seven by the end of 2018.
Between 50 and 100 stores are also expected to be closed by clothing chain New Look and Carpetright.
Picture credit: Imagery ©2018 Google maps, Map data ©2018 Google
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