Shoe Zone has experienced very challenging trading conditions, principally a weakening of consumer confidence and unseasonal weather, both of which have decreased revenue and profit. 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.
Shoe Zone has been a part of many UK high streets for over a century since it was first established in 1917. The retailer currently has 297 stores nationwide, with eight in south London, and employs a staff of 2,250 across its stores.
The retailer announced it would be permanently closing 20 of its stores this year. It has not yet been confirmed by the retailer which of the 297 stores would close and if any of the closures would be south London stores.
The retailer said that these closures were a result of challenging trading conditions that they say have increased following the recent Autumn 2024 budget.
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