High street fashion chain launches closing down sale as shopping centre branch to shut for final time in weeks
HIGH street shoppers have been left at a loss as a major clothing store will close the doors of one of its stores for the final time.
The fashion chain with 345 branches across the UK has confirmed the closure in Kent.
Locals of Dockside Outlet Centre in Catham have already spotted huge yellow sale posters in the windows of the Peacocks store, reported by Kent Online.
With 30 percent off “absolutely everything”, those planning on making their way to the clothing chain may want to move quickly as the site is set to shut soon.
The closing down sale will end on October 26 when the shop shuts.
Fans of the fashion retailer can still head to their nearest store which is under a mile away in Gillingham followed by Walderslade Co-Op in Medway.
Frequent visitors to Dockside Shopping Centre could turn to the neighbouring M&S Outlet, Roman Originals or Moss Bross that will continue to trade in the surrounding area.
Previously, the chain has been promoted by Louise Redknapp and Michael Owen acting as brand ambassadors.
Earlier this year, Peacocks announced it would close other high street stores in Hyde, Bury St Edmunds, Cornwall, Winchester amongst others.
The high street brand collapsed into administration in 2020.
After a spate of closures, the chain was rescued in April 2021 saving the remaining stores and 2,000 jobs.
The latest closures are not thought to be a result of financial decline or a precursor for further trouble.
Over the years, Catham buyers have taken to review the store on Google with many complementing the staff, service and product quality.
One user wrote: “Brought some good quality clothes for my daughter today at very good prices.
“Had a really good experience all round.”
Another said: “Very good and a excellent selection of clothes.”
Someone else put: “Friendly staff. Got what I needed. Even used my blue light NHS card and received a discount.”
A fourth wrote: “Lovely staff and great purchase.”
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.