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Norfolk Business Awards 2018

The biggest retail casualties of 2018 – from Toys R Us to Homebase

Poundworld has been one of the highest-profile casualties of 2018. Picture: PA

Poundworld has been one of the highest-profile casualties of 2018. Picture: PA

PA

The year 2018 has been a difficult one for the retail sector, with a succession of big names falling.

Toys R Us and electronics retailer Maplin have both disappeared from the high street this year after tough trading pushed them into administration.

In June, Poundworld closed over 250 stores, resulting in the loss of 4,000 jobs. However, it was announced yesterday that Irish retailing family the Hendersons, who opened Ireland’s original Poundworld store in 1984, had made a successful bid for the remainder of its stores.

Meanwhile a restructure at Marks and Spencer, announced in May, could see 100 stores close and with the loss of 600 jobs. New Look has also announced the closure of around 60 stores, while in June 800 jobs were put at risk at Mothercare as it prepared to shut 50 stores.

After a failed takeover by Australian group Wesfarmers, Homebase is now planning to close almost a quarter of its stores in a move that threatens 1,000 jobs.

In July Mattressman approved a deal with creditors to close 14 stores nationwide, putting 130 jobs at risk, so it could focus on 11 shops in its East Anglian heartland.

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