A striking number of retailers are shutting down across UK High Streets this August, including the likes of Poundland, Apple and GAME.
Closures in August come as UK businesses continue to face the pressures of rising inflation rates, increased running costs and a decline in shopper footfall over the past year.
Changes to this year’s budget, including an increase in employer National Insurance contributions and energy and rent costs have all contributed to businesses being forced to shut down several stores.
Here is a full list of the stores which are due to close in the coming weeks.
Poundland has been sold for a pound to Gordon Brothers (Mike Egerton/PA)
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Poundland has confirmed the closure of 37 stores this August, including two London stores in East Dulwich and in Whitechapel.
This comes after Gordon Brothers, the former owner of Laura Ashley, purchased the retailer from Polish owner Pepco Group for £1 following a downturn in trading.
A restructuring plan was launched in June to close 68 Poundland stores across the UK.
Full list of Poundland stores closing this August:
· Canterbury (Marshwood Close Retail Park)
· Coventry (Hertford Street)
· Newcastle (Killingworth Centre)
· Peterborough (Orton Gate Shopping Centre)
· Peterlee (Castle Dene Shopping Centre)
· Queen (Queen Shopping Center)
· Salford (Regent Retail Park)
· Sheldon (Coventry Road)
· Whitechapel, London (Whitechapel Road)
Apple said it was rolling out a fix (Yui Mok/PA)
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Apple is closing its two-storey building in Bristol city centre in Cabot Circus on August 9 after being open for 15 years.
The closure is part of a redevelopment plan in Cabot Circus, the covered shopping centre, which will replace the store with flexible workspaces and public areas.
Retailer Game has collapsed into administration
GAME, the aptly named gaming shop which provides PlayStation, Xbox and Nintendo products, is set to close several branches across the UK this month as part of a restructuring plan by its owners, Frasers Group.
The Basingstoke branch located in Festival Place will close on August 10 and Southend High Street is set to close, but a date has not yet been confirmed.
Several stores are running 20 per cent off clearance sales ahead of closures.
Hobbycraft has announced plans to shut at least nine stores across the UK (Jonathan Brady/PA)
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The craft supply shop is due to close three stores in the UK this month as part of a restructuring plan instigated by the company’s new owner Modella Capital.
Affected stores include Bromborough, Southport and Stratford-upon-Avon sites.
Monki will only have one retail store in the UK after August.
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Monki, the fashion retailer and sister brad of H&M is due to close its Glasgow store this month. Only one store in Bristol remains in the UK.
The company’s online store has already ceased operations and its products are only available to buy through the Weekday website.
Fashion retailer New Look has confirmed chief executive Nigel Oddy will step down (Mike Egerton/PA)
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The New Look branch in Neath, Wales, is due to close on August 6. This comes after the retailer already closed 37 stores across the UK this year alone.
The retailer has warned that nearly 100 of its 364 UK stores could be at risk of closure in 2025 due to the financial pressures of National Insurance contribution increases implemented earlier this year.
River Island is reportedly planning to shut 33 of its stores (Mike Egerton/PA)
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River Island is on the brink of financial collapse, with 33 shops and hundreds of jobs currently at risk across the UK.
The fashion retailer was advised by consulting firm PwC to restructure its stores in order to continue trading, warning that the company could be subject to administration or other insolvency issues.
The retailer is also asking landlords to reduce rents at 71 stores which are at risk.
These are the shops facing closure:
· Edinburgh Princes Street
The Original Factory Shop (TOFS)
Discount retailer The Original Factory Shop has seen its profits shoot up by more than 250% (Ben Birchall/PA)
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The Original Factory Shop (TOFS), a discount department store chain is set to close two stores – the Caldicot branch in Wales and the Kirkham branch in Lancashire.
The Blairgowrie store in Scotland is set to close, but a date has not yet been disclosed.
TOFS is currently undergoing a Company Voluntary Arrangement (CVA) process, meaning it is renegotiating rents and closing loss-making stores in an attempt to stabilise the business financially.
Superdrug said it is opening 25 new shops this year (Belinda Jiao/PA)
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Superdrug, the health and beauty retailer, is set to close two stores in Grantham, Lincolnshire, and Redruth, Cornwall, on August 9 and August 16.