The retailer has mentioned it has no selection however to shut shops across the nation in response to hovering wage prices and a bleak outlook.
A spokesperson mentioned: “These extra prices have resulted within the deliberate closure of quite a few shops which have now turn out to be 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 additional wage invoice, annual earnings could be decrease than anticipated.
The agency additionally cancelled its ultimate 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 retailers can be completely shut, with the total listing to be introduced within the close to future.
No time-frame has been placed on the total listing, and employees at the moment are in a form of limbo of not understanding whether or not they are going to have a job within the new 12 months. It’s not identified if all shops will shut down.
Which of them are positively closing down?
No definitive listing 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 secure, and executives 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 may we anticipate an announcement?
It’s anticipated that extra will turn out to be clear within the first weeks of January.
