Top shops to close

In a recent announcement by Arcadia, 250 stores are said to be closing in the next few years. The large retail group which includes Topshop, Miss Selfridge and Dorothy Perkins has seen a serious decline in sales over the past year.  Some stores across the group will be closing as shop leases come up for renewal in the next two years.

As money problems continue to get worse the high street is really feeling the pressure. Profits are down by 38% for the Arcadia group and it looks like this Christmas is set be one of the worst for the retail industry in a very long time.

A reason for the decline in sales figures in store could be down to internet shopping. Many people are now shopping online, which means less money is being spent in town centres. By people not seeing what they are buying and shopping in store they may be more selective on what they purchase, rather than impulse buying.

Alice from North Kesteven School told us,  ”If Dorothy Perkins closed down in Lincoln, I would be devastated because it’s one of my favourite shops on the high street.”

Another student explained, “If all the shops close then there wouldn’t be as many jobs around for young college students in Lincoln.”

The High Street has a huge impact on any city in terms of trade and employment. Closing major stores could eventually effect smaller businesses as people opt to purchase online rather than shopping in store.

By Leona

North Kesteven School.