Iconic high street chain to shut 100-year-old flagship store forever as shoppers lament ‘end of an era’ --[Reported by Umva mag]

AN ICONIC high street has announced the closure of its 100-year-old flagship store for good as devastated shoppers cry that it’s the “end of an era”. Frasers Group, which owns the former Binns store on High Row, has confirmed that its Darlington branch will permanently close in December. AlamyBinns, House of Fraser Department store in High Row Darlington set to shut for good in December[/caption] Earlier this year, reports indicated that bosses were uncertain about the store’s future after the building was put up for sale. The retail chain revealed that the closure was due to the landlord’s decision to terminate the lease. Binns’ Darlington branch has been regularly serving shoppers in the town since 1922. Councillor Chris McEwan, deputy leader of Darlington Council and cabinet member for Economy, said he was disappointed to learn of the closure. He added: “The closure of any business is always a shame, but the loss of such a long-standing department store as Binns, is extremely disappointing. “It marks the end of an era for the community it has served for generations. “Binns has been more than just a place to shop. It has become a landmark, a symbol of local identity.” Devastated shoppers have taken to Facebook to vent their frustration at the closure of the flagship store. “There will be nothing to go into Darlington for!” cried one user. Another commented: “It was only a matter of time.” While a third wrote: “Many shops have been closing in town centre for years, not much to come into town for now.” RETAIL CLOSURES ACROSS THE UK A number of retailers are struggling across the UK after the cost of living crisis hit shoppers’ pockets. High inflation in 2022 and 2023 and wage bills for retailers also forced many to close stores for good. Wilko fell into administration last year as its 400 stores and thousands of staff were left in limbo. Ted Baker, Cath Kidston and Paperchase have all filed for administration in recent years too. This week, major fashion chain Next warned of possible store closures after losing a landmark legal case over equal pay. Some retailers have managed to buck the trend and expand their number of stores across the UK. Aldi, B&M and Lidl have all announced plans to open more stores in recent months as shoppers look for bargain buys to make their budgets stretch. Why are retailers closing shops? EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline. The Sun’s business editor Ashley Armstrong explains why so many retailers are shutting their doors. In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping. Falling store sales and rising staff costs have made it even more expensive for shops to stay open. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed. The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns. Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead. Boss Stuart Machin recently said that when it relocated a tired store in Chesterfield to a new big store in a retail park half a mile away, its sales in the area rose by 103 per cent. In some cases, stores have been shut when a retailer goes bust, as in the case of Wilko, Debenhams Topshop, Dorothy Perkins and Paperchase to name a few. What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online. They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.

Sep 20, 2024 - 18:19

Iconic high street chain to shut 100-year-old flagship store forever as shoppers lament ‘end of an era’ --[Reported by Umva mag]

AN ICONIC high street has announced the closure of its 100-year-old flagship store for good as devastated shoppers cry that it’s the “end of an era”.

Frasers Group, which owns the former Binns store on High Row, has confirmed that its Darlington branch will permanently close in December.

Binns, House of Fraser Department store in High Row Darlington set to shut for good in December[/caption]

Earlier this year, reports indicated that bosses were uncertain about the store’s future after the building was put up for sale.

The retail chain revealed that the closure was due to the landlord’s decision to terminate the lease.

Binns’ Darlington branch has been regularly serving shoppers in the town since 1922.

Councillor Chris McEwan, deputy leader of Darlington Council and cabinet member for Economy, said he was disappointed to learn of the closure.

He added: “The closure of any business is always a shame, but the loss of such a long-standing department store as Binns, is extremely disappointing.

“It marks the end of an era for the community it has served for generations.

“Binns has been more than just a place to shop. It has become a landmark, a symbol of local identity.”

Devastated shoppers have taken to Facebook to vent their frustration at the closure of the flagship store.

“There will be nothing to go into Darlington for!” cried one user.

Another commented: “It was only a matter of time.”

While a third wrote: “Many shops have been closing in town centre for years, not much to come into town for now.”

RETAIL CLOSURES ACROSS THE UK

A number of retailers are struggling across the UK after the cost of living crisis hit shoppers’ pockets.

High inflation in 2022 and 2023 and wage bills for retailers also forced many to close stores for good.

Wilko fell into administration last year as its 400 stores and thousands of staff were left in limbo.

Ted Baker, Cath Kidston and Paperchase have all filed for administration in recent years too.

This week, major fashion chain Next warned of possible store closures after losing a landmark legal case over equal pay.

Some retailers have managed to buck the trend and expand their number of stores across the UK.

Aldi, B&M and Lidl have all announced plans to open more stores in recent months as shoppers look for bargain buys to make their budgets stretch.

Why are retailers closing shops?

EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.

The Sun’s business editor Ashley Armstrong explains why so many retailers are shutting their doors.

In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.

Falling store sales and rising staff costs have made it even more expensive for shops to stay open. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.

The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.

Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.

Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.

Boss Stuart Machin recently said that when it relocated a tired store in Chesterfield to a new big store in a retail park half a mile away, its sales in the area rose by 103 per cent.

In some cases, stores have been shut when a retailer goes bust, as in the case of Wilko, Debenhams Topshop, Dorothy Perkins and Paperchase to name a few.

What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.

They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.

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