Thorntons add to high street despair

Another day, another high street chain adding to the retail gloom as Thorntons announces it plans to close at least 120 outlets in the next three years.

The chocolate retailer, which has stores in Churchill Square in Brighton and on George Street in Hove, will leave the undeclared stores as their leases expire, while the futures of a further 60 stores are under review.

Thorntons chief executive Jonathan Hart said the closures were in response to “significant changes in consumer shopping behaviour”.

He added: “Our goal is to refocus the business across all channels and seek to deliver industry competitive returns over the next three to five years. Although we see the prospect of weakness in High Street footfall and consumer sentiment continuing, I am confident that this strategy is right.”

The news follows recent moves into administration of both Habitat and Jane Norman, which both have stores in Churchill Square.

While earlier this month, Mothercare, who hold one of the largest shop floors in Churchill Square, announced it would be closing many stores to focus on its out-of-town locations.

Meanwhile, Carpetright, which has stores in Brighton and Hove, is also looking to close stores following a drop in revenue.

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Posted by Joseph Lewis on June 28, 2011. Filed under Shopping. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry