- N Brown is thinking about final all of its 20 high street stores
- The closures may price the type corporate as a lot as £22million
- The corporate put it all the way down to ‘very disappointing’ consumer numbers
Plus-size type team N Brown is taking the awl to its retailer property and may shut all 20 of its stores, as ‘very disappointing’ footfall takes it toll on the company.
The closures will price N Brown, which counts Simply Be, JD Williams and Jacamo amongst its manufacturers, between £18million and £22million kilos, relying on what number of disposals it makes a decision to head thru with.
‘Given endured very disappointing footfall, and in spite of vital price efficiencies being accomplished, we’re these days coming into right into a session with retailer colleagues to imagine final our 20 stores forward of rent expiry,’ the store mentioned.
N Brown leader government Angela Spindler, pictured right here with Cricketer Andrew Flintoff and fashion Candice Huffine outdoor its Oxford Street retailer, mentioned the determination to near stores was once no longer made frivolously.
N Brown retail gross sales declined in the first quarter of its monetary yr
Its retailer portfolio generated a £3million loss ultimate yr on £15million of gross sales.
CEO Angela Spindler dubbed it a ‘difficult length for type retail’ and mentioned the closures are ‘in line’ with the company’s technique of changing into a web-based store.
N Brown is the newest in a string of outlets to announce retailer closures.
Carpetright, New Look, House of Fraser and Mothercare have opted to close stores as customer numbers wane and big retailer estates change into unsustainable.
N Brown mentioned first its quarter buying and selling was once ‘adequate’.
Group gross sales inched up zero.four consistent with cent, pushed by means of a powerful efficiency on-line and at its monetary products and services arm. Product earnings sunk 2.eight consistent with cent.
The corporate caught to its full-year expectancies.