The retailer has mentioned it has no alternative however to shut shops across the nation in response to hovering wage prices and a bleak outlook.
A spokesperson mentioned: “These further prices have resulted within the deliberate closure of a variety of shops which have now turn into unviable.”
Shares plunged by as a lot as 49 per cent this morning as the corporate cautioned that as a result of robust buying and selling and further wage invoice, annual earnings can be decrease than anticipated.
The agency additionally cancelled its remaining shareholder dividend payout for 2023-24.
It slashed steerage 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 might be completely shut, with the complete record to be introduced within the close to future.
No timeframe has been placed on the complete record, and employees are actually in a kind of limbo of not understanding whether or not they’ll have a job within the new 12 months. It’s not recognized if all shops will shut down.
Which of them are positively closing down?
No definitive record has been introduced however it’s reported that spots considered headed for closure in London embody Wembley, Holloway and Harrow, and nationwide hotspots to be affected embody Leeds, York, Newcastle and Sheffield.
It appears not one of the shops are protected, and managers are assessing all of their places 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 count on an announcement?
It’s anticipated that extra will turn into clear within the first weeks of January.
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