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High street crash claims another retailer

By Staf Newsletter  |  Posted: January 21, 2013

Shutters

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THE FASHION and homes division of a Staffordshire Co-operative has become the latest casualty of the high street crash.

Today Midlands Co-operative announced the closure of its Fashion and Home Store, the latest in a growing list of shops to announce it was closing its doors.

The Stafford branch of the retailer on Gaolgate Street currently employs 73 people and will be part of the 'phased closure' over the next six months.

A spokesman for the company said 'major' changes in the retailing sector and the growth in online shopping had created 'significant and fundamental challenges' for its business.

“Whilst our other businesses have flourished, the society has been incurring substantial losses from the Fashion and Home operation for more than a decade and in spite of sustained efforts to improve performance, the latest financial projections indicate a further decline with increasing losses in future years."

She said all customer orders and gift vouchers would be honoured and enquiries would continue to be handled by staff during the closure period.

It is understood that none of the Co-operatives food stores are affected by the announcement.

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  • Staf Newsletter  |  January 23 2013, 1:43PM

    Pherhaps the council should reduce the business rates payable, then businesses may be able to trade in the town center,far too much money wasted in paying council employees which has to come from business rates among other things, car parking far too expensive also, THE COUNCIL SHOULD TAKE A LEAF FROM OTHER TOWNS WHERE PARKING FEES ARE EITHER FREE OR AFFORDABLE

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