A major fashion brand, Superdry, has faced the closure of eight of its UK stores as a franchisee decided to shut down their operations.
The company recently confirmed that six store locations will be closing, while the fate of the other two remains uncertain. It's important to note that this decision is not connected to Superdry's cost-cutting plan of £35 million, which was announced last year.
The responsibility for the closures lies with the independent owner who operates these eight stores, and Superdry emphasized that it has no intention of closing any of its directly operated stores across the UK for now. Earlier this year, Superdry revealed measures to reduce costs, which included "estate optimization," hinting at possible store closures.
Since then, five branches have already closed, and three more are likely to follow suit. Among the affected locations are Stoke On Trent, Luton, Telford, Ipswich, Lincoln, and Bury St Edmunds. The other two stores earmarked for closure have not yet been officially confirmed.
Superdry's situation reflects a broader trend among big-name high street brands, as they grapple with the challenges posed by a difficult retail environment exacerbated by the aftermath of the Covid pandemic and the ongoing cost of living crisis. Boots, another renowned retailer, is also planning to shut down 300 of its stores in response to