Skip navigation

Gloucestershire Business News

Redundancy threat for Waterstones

Book chain Waterstones is to make a number of staff at its London Piccadilly head office redundant, as it recovers from the impact of lockdown.

Waterstones, which has stores in Cheltenham, Gloucester and Cirencester, said the redundancies were part of a number of measures to bring the company's overheads in line with its current level of sales, as reported by The Bookseller.

Like other non-essential retailers, Waterstones was forced to close its stores for almost three months. Nearly all of them have been reopened, apart from campus branches and its Covent Garden store, which reopened when lockdown measures eased and closed again after a week, due to the lack of footfall in central London.

Improved online performance hasn't been enough to offset the lack of high street sales. The chain's CEO said last month that were would be no rebound for the lost sales of March, April and May. Waterstones predicts continued lower sales over the coming months, as things take time to get back to normal.

Related Articles

Versarien's revenues halve and losses rise Image

Versarien's revenues halve and losses rise

Forest of Dean-based advanced engineering group Versarien saw its revenues halve last year.

Gloucestershire company launches same-day service Image

Gloucestershire company launches same-day service

Gloucester-based Freemans Event Partners has launched a brand-new around-the-clock foodservice logistics offer.

Gloucester business expands at Elmbridge Court Image

Gloucester business expands at Elmbridge Court

Just three offices are now available for rent at Elmbridge Court, following the latest letting.

Cirencester town centre to deliver improved parking Image

Cirencester town centre to deliver improved parking

Better parking and traffic control improvements for Cirencester residents and businesses.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.