A major UK shoe chain with over 250 stores is launching a closing down sale at a popular outlet as sales continue to fall.
Shoe Zone has shut 14 sites in just six months as sales fell 12% year-on-year.
The latest branch to be axed is the Carlisle store, which is set to shut after closing down signs were displayed in shop windows.
View 3 ImagesShoes displayed in a store (file image)(Image: Ballygally View Images via Getty Images)
The closure comes as losses for the retailer were over £5.3 million, more than double the previous year’s loss.
Shoe Zone has given three reasons for its widening losses – national Insurance contributions, shipping costs linked to conflict in the Middle East and weaker consumer confidence.
“Challenging trading conditions, principally due to a continued weakening in consumer confidence, the last two Budgets and political issues in the Middle East,” a spokesperson for the chain said.
“These macro-economic factors have increased customer caution, leading to lower footfall with a reduction in revenue and profit.”
View 3 ImagesShoe Zone has shut 14 stores in the last six months (file image)(Image: PA)
The company expects a full-year loss of between £1 million and £2 million as difficult conditions persist.
Shoe Zone, which employs more than 2,000 people across the UK, has moved away from mainly high street stores to place more focus on retail parks.
The breakdown of Shoe Zone’s portfolio is now 53 smaller high street stores and 206 larger units.