The retailer has stated it has no alternative however to shut shops across the nation in response to hovering wage prices and a bleak outlook.
A spokesperson stated: “These extra prices have resulted within the deliberate closure of a lot of shops which have now develop into unviable.”
Shares plunged by as a lot as 49 per cent this morning as the corporate cautioned that as a result of powerful buying and selling and further wage invoice, annual earnings can be decrease than anticipated.
The agency additionally cancelled its last shareholder dividend payout for 2023-24.
It slashed steering by as much as half, warning that underlying pre-tax earnings have been now set to be not lower than £5million – down from £10million beforehand anticipated for the 12 months to September 27 subsequent 12 months.
Are all Shoe Zone shops closing?
It has been reported {that a} excessive variety of the outlets shall be completely shut, with the complete checklist to be introduced within the close to future.
No timeframe has been placed on the complete checklist, and employees at the moment are in a type of limbo of not realizing whether or not they may have a job within the new 12 months. It isn’t recognized if all shops will shut down.
Which of them are undoubtedly closing down?
No definitive checklist has been introduced however it’s reported that spots regarded as headed for closure in London embrace Wembley, Holloway and Harrow, and nationwide hotspots to be affected embrace Leeds, York, Newcastle and Sheffield.
It appears not one of the shops are protected, and managers are assessing all of their areas earlier than offering discover of everlasting closures.
The place are Shoe Zone shops in London?
There are a number of Shoe Zone shops in and round London. These are:
- Holloway
- Hackney
- Peckham
- Kilburn
- Poplar
- Stratford
- Wooden Inexperienced
- Walthamstow
- Lewisham
- Tooting
- East Ham
- East Beckton
- Woolwich
- Barking
- Ilford
- Wembley
- Croydon
- Edgware
- New Malden
- Harrow
- Dagenham
- Sutton
- Hounslow
- Bexleyheath
- Waltham Cross
When might we anticipate an announcement?
It’s anticipated that extra will develop into clear within the first weeks of January.