Gadget retailer with over 50 stores to close branch for good TODAY
A GADGET and gift retailer with over 50 stores is set to close one of its branches for good today.
Menkind, which sells everything from toys to technology, will close down its branch in Kingfisher shopping centre in Redditch just three months after opening.
A spokesperson for the brand told The Sun the decision was “not made lightly”.
They said: “Unfortunately, the performance of the store in this location was not strong enough to enable us to keep it open.
“We would be delighted to return to Redditch in the future if the right opportunity arises.”
They added: “We remain committed to serving our customers through our remaining stores and online platform.
“For customers of the Redditch store, the nearest Menkind store is located at Chapel Walk in Worcester, or you can shop online.”
The last day of trading will be Sunday, January 12 giving shoppers just a few hours to bid their farewells.
It will come as another for locals who just recently waved goodbye to Carpertright following its administration last summer.
This came after Lidl closed its branch in The Quadrant in Redditch town centre in the summer of 2023.
As for Menkind, this is not the first time it has called time on one of its stores.
The store shuttered its branch in the Old George Mall, Salisbury, Wiltshire in January 2024.
Menkind also closed its branch in Teesside Park in Thornaby, North Yorkshire, on December 2023.
You can find your nearest using the store locator tool on the Menkind website.
The Redditch town centre closure is one of many that has taken across the UK in recent weeks.
The Entertainer, which has 160 branches across the UK, will permanently shutter its branch in Croydon’s Whitgift shopping centre on February 1.
OTHER SHOP CLOSURES
Plenty of other retailers are closing stores across the high street as households lean more towards online shopping and amid high business rates.
Soaring inflation in recent years has also dented shoppers’ pockets.
The Centre for Retail Research’s latest analysis suggests 13,479 stores, the equivalent of 37 each day, shut for good in 2024.
Of those, 11,341 were independent shops while 2,138 were shut by larger retailers.
The data also showed over half the stores that closed last year were shut due to the store or retailer going through insolvency proceedings.
This is when formal measures are taken to deal with tackling a business‘s debt.
Retailers are shutting stores in 2025 too.
The Body Shop is pulling down the shutters on five branches on January 15 in Exeter, Plymouth, Horsham, Norwich and Sheffield.
Three other branches have already closed in Cambridge and Hove.
Stationer WHSmith is closing a branch in Bournemouth on January 15 while Monki has announced plans to shut seven stores this year.
All in all, the Centre for Retail Research estimates more stores will close this year than last.
It predicts around 17,350 sites to close for good, made up of around 14,660 independent shops.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.