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Gloucestershire Business News

John Lewis announces stores to close permanently

John Lewis's flagship Birmingham Bullring store is among eight set to close its doors permanently.

The partnership has confirmed the list of eight stores that will permanently close, after announcing they were at risk last month. It said the affected stores were already facing challenges before the coronavirus crisis, as reported by Retail Gazette.

The good news is that the Cheltenham store is safe. The other stores affected are: Swindon, Tamworth, Newbury, Heathrow Terminal two, Croydon, London St Pancras station and Watford.

John Lewis said it would work with staff to find new roles where possible over the coming weeks, but that it was unable to find a way to turn the stores around.

The partnership had cut the bonuses of 80,000 staff before the closure announcement, as it tried to find a way to cut costs. John Lewis said the store closures will allow it to remain sustainable.

Staff who have worked for the company for more than a year will qualify for redundancy pay, which equates to two weeks' pay for every year of service, regardless of age.

Punchline said: "Although very sad for employees of the affected stores, we are happy to see that Cheltenham's store clearly still has something to offer and is able to stay open, keeping local people in jobs. The store opened less than two years ago and it would have been a real loss to the high street if it were to close."

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