Clintons are to close shops as it struggles to copy with rachel revees' tax and minim wage hikes. The card retailer returned to Profit Earlier this week, but has confirmed that incred costs have operating a number of its shops financially unsustainable. The announcement comes despite the closure of 38 of the company's stores, results in the loss of more than 300 jobs, in the last financial year. In a statement, Clintons Said: “The company has contained to close loss-making stores and the portfolio of retail stores is now down to an application 170 stores.
“The High Street Continues to be unpredictable and the company is reduced foot in the stores year on year. Poor Performing Stores, Which, Whilst Impacting on Turnover, Should Improve Profitability Moving Forwards. “
The firm's shop in keighley in West Yorkshire Announced Earlier this month that it would close on june 14, the sun reports.
The outlet has started a clearance sale that offers 20% off its stock.
In addition, signs stating “Everything Must Go” has been displayed at a store in learning spa, where customers can buy items for 50% less.
In its latest financial update, the company sa: “Like many other retailers, the company continue to face significant cost presses on wages given the income.
“Conversely, energy costs for the business to be during the year with the year with October 2023 Repention a material saving compared to the prior year.”
The economy grew unexpectedly by 0.5% in february, figures have sugjected.
But the chancellor's National Insurance Increase for Employers and National Living Wage Rise Rise Kicked in at the Beginning of this month, and there is connected to the body UK's GDP.
Ms Reves Said: “These growth figures are an encouraging sign, but we are not complacent.
“I know this is anxious time for families who are worried about the cost of living and british businesses who are worryed about this change for them.
“This Government will remain pragmatic and cool-headed as we seek to secure the best deal with the united states that is in our national interest.”
Mel Stride, The Conservative Shadow Chancellor, Said: “Since coming to office, Laboure's choices have killed growth stone dead and there is still a long way to recover.”