Health and beauty store giant to close 300 shops across Britain in major blow to high street
Boots has announced plans to close down 300 stores across the UK over the next year
PA
Boots has announced plans to close down 300 stores across the UK over the next year.
The retailer is reducing its portfolio from around 2200 to just 1900, with with four stores having already been axed since the start of 2023.
The exact locations of sites have not yet been confirmed but those which are set to shut are said to be shops which are close to another site.
In its quarterly results, the company said: "Over the next year Boots will continue to consolidate a number of stores in close proximity to each other.
The exact locations of sites have not yet been confirmed but those which are set to shut are said to be shops which are close to another site
PA
"Evolving the store estate in this way allows Boots to concentrate its team members where they are needed and focus investment more acutely in individual stores with the ambition of consistently delivering an excellent and reliable service in a fresh and up to date environment."
The chain employs over 52,000 team members and it is expected that these closures will not lead to any redundancies.
James Kehoe, global chief financial officer at Boots parent company, Walgreens Boots Alliance, told analysts yesterday: "We will continue to optimise our locations and opening hours, and expect to close an additional 300 locations in the UK and 150 locations in the US."
Stores at Salford Shopping Centre in Greater Manchester, Church Street, Malvern, The Port Arcades Shopping Centre, Ellesmere, and King William Street, London, have all already closed this year.
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Boots said in all cases there is an alternative store less than three miles away.
Retail sales across Boots surged by 13.4 per cent in the three months to the end of May, compared to the same period last year.
Sales were driven by a boost in online shoppers with sales on its digital platform surging by a quarter over the latest period.
Boots has previously closed more than 200 stores over an 18-month period starting in 2019.
The closure of 300 Boots stores is another blow for the already struggling high street
PAThe chain said many of the closures were because they were loss-making and two-thirds of them were within walking distance of each other.
It comes after a series of popular high street retailers announced closures this month.
Since the pandemic, shoppers have been cutting back on spending due to soaring inflation - and high street stores have been feeling the pinch.
Argos, Lloyds Pharmacy and Cath Kidston recently confirmed store closures.