Shoezone stores at risk of closure
- Published
Shoezone has confirmed 20 of its stores across the country are at risk of closure after facing a tough end of the year.
The firm said October, November and the first half of December had seen "very challenging trading conditions".
It blamed a combination of factors, including a hike in employers' National Insurance contributions and a rise in National Living Wage, announced in the October Budget.
The retailer operates 30 stores across the West Midlands, out of 297 nationwide, which could be at risk of closure.
They include shops in Wolverhampton, Birmingham, Shropshire, Worcestershire, Warwickshire and Staffordshire.
It is so far unclear which of those will be affected, but Shoezone said it planned to close those stores that were "unviable".
It also said "unseasonal weather" in recent months had affected its revenue.
Anthony Smith, Chief Executive of Shoezone, told the BBC: "Consumer confidence has weakened further following the government's budget in October 2024.
"The company will incur significant additional costs due to the increases in National Insurance and the National Living Wage, resulting in the closure of 20 stores that have now become unviable."
The firm said it was "very grateful to our teams in these stores for their continued dedication and hard work over the years and are doing all we can to support them".
It added that it remained "committed to serving customers via our extensive store network and online".
Shoezone warned that profit before tax for its financial year ending 27 September 2025 was likely to be £5m, down from previous forecasts of £10m.
List of stores in West Midlands
Birmingham
Cape Hill
Perry Barr
Coventry
Coventry Arena
Leamington Spa
Stratford-upon-Avon
Wolverhampton
Bilston
Dudley
Hanley
Longton
Newcastle-under-Lyme
Cannock
Walsall
Oldbury
West Bromwich
Erdington
Selly Oak
Kings Heath
Shirley
Acocks Green
Chelmsley Wood
Tamworth
Shrewsbury
Telford BB
Telford
Hereford
Malvern BB
Kidderminster
Malvern
Worcester
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- Published23 June 2020