Shoezone announces store closures due to 'unviability' of budget

National World - LocalTV

The company which operates thousands of stores nationwide, cited rises in National Insurance and the National Living Wage as major factors behind the announcement.

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00:00ShoeZone, the UK budget footwear retailer, has announced plans to close several stores

00:05due to increased costs following recent government budget measures.

00:09The company, which operates 297 stores and employs around 2,250 staff, cited rises in

00:17national insurance contributions and the national living wage as key factors rendering some

00:24locations unviable.

00:25Challenging trading conditions, including reduced consumer spending and unseasonal weather,

00:31have further strained the business.

00:33ShoeZone now expects its adjusted pre-tax profits for 2025 to halve from £10 million

00:40to £5 million and has confirmed it will not pay a final dividend for 2024.

00:47While the exact number and locations of closures remains unspecified, reports suggest stores

00:52in Ashford, Folkestone, Herne Bay and Gillingham may be affected.

00:57Despite the closures, ShoeZone plans to focus on larger store formats in retail parks and

01:03remains debt-free.

01:04The announcement highlights the ongoing struggles faced by high street retailers in the current

01:10economic climate.

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