Discount retailer with 750 branches to close store in HOURS in blow to shoppers
A DISCOUNT retailer with 750 branches will be shuttering a popular store in hours.
Budget hunters were devastated to learn their favourite B&M would be serving its last customer at a London location tomorrow.
In another blow to the high street, the site in Willesden will permanently close, according to The Kilburn Times.
The disappointing news was confirmed by a notice taped to the store window.
Shoppers vented their frustration on social media following the shock announcement.
One said: “All our neighbours are absolutely gutted; you can get everything there from Christmas decorations to food, toiletries, paint and garden plants.
“It’s a bit no-frills but it has some absolute bargains in there.”
Another added: “I love that shop, lots of nice things.”
The Willesden closure comes as another B&M branch in Ladybarn, Manchester, is set to shut to make way for new homes.
Residents had previously expressed concern over the loss of the store which is located in an “under-served” area.
However, a planning application for the 115 new properties was approved amid pressure for affordable housing.
B&M also relocated a branch in Warrington last September, closing one in Cockhedge Shopping Centre and opening another in the Golden Square Shopping Centre.
This comes after the discount chain’s boss left the company — as a big profit warning raised questions about his leadership of the firm.
B&M las month tried to position Alex Russo’s exit as retirement after two and a half years as chief executive.
But few believed those claims, as Mr Russo’s departure aged 54 came with a triple whammy warning of a sales slump, weak confidence and a profits hit due to currency rates.
Analysts at Panmure Liberum said the “retirement of Russo and a downgrade are unlikely to be mutually exclusive”.
Andrew Wade, at Jefferies, said it was not “a surprise, given the group’s consistent over-promising”.
Mr Russo’s departure comes eight months after The Sun first raised questions about why the boss of a FTSE 100 retailer would want to keep the media and investors in the dark about its trading.
We said it was a slippery slope when firms stop talking to the financial press about their results, especially when readers are its customers.
It raises suspicions all is not well if there cannot be open conversations on performance.
Analysts warned at the time B&M’s decision to scrap guidance was a clue its performance was weakening.
SAVE MONEY AT B&M
The B&M barcode scanner app allows you to find discounted items before staff have even reduced them.
The scanner can be found on the B&M Stores mobile app, which you can download for free on your smartphone from the App Store or Google Play.
Once you’ve dowloaded the app, click the “scan” button at the bottom of your homepage.
This will bring up the camera on your smartphone, which you’ll need to use to scan barcodes.
When you’ve found a product you want, simply point your smartphone camera toward its barcode.
The app will then automatically bring up the price – this is when you’ll know if it is reduced or not.
Bargain hunters say some items come up as £1, 50p or even 10p through the app.
Shoppers should also keep an eye out for products with a white reduction sticker on.
This means they will have a certain amount slashed off the price shown on the label.
Shop for products at the end of the season.
Get friendly with staff too.
They’ll be able to tell you when the sales will hit, or if there are bargains out the back – so you get the best bits.