A FASHION retailer is shutting up shop, leaving loyal customers gutted.
Lipstick Clothing has announced the closure of its Nutgrove shoe store in Dublin, with a massive closing-down sale now underway.
Shoppers have just weeks to bag bargains before the doors shut for good.
A statement on the store’s Facebook page read: “It’s with a heavy heart we announce the closure of our Nutgrove shoe store. We’ll be closing our favourite shop in a couple of weeks.
“So get down to Nutgrove and grab yourself a bargain.
“Lots of styles half price or less, and many clearance lines added.”
The store, known for its trendy apparel and accessories, has been a staple of the local high street for years.
One customer replied to the post: “So sad to see you go! I worked in Nutgrove from 1987 until 2005… great shop.”
Another wrote: “That’s just awful news.”
While a third simply added: “Loved the Nutgrove shop.”
A fourth chimed in: “So sad, but best wishes for whatever the future holds.”
It joins a growing list of retailers disappearing from UK and Irish shopping streets.
This week, Harvey Nichols confirmed it would be shutting its Beauty Bazaar store in Liverpool.
At the start of the month, A. G. Meek confirmed it will permanently close its store on Eastgate Street, Gloucester, for good in early April.
Similarly, fashion chain Quiz is reportedly on the brink of administration, putting 60 stores and 1,500 jobs at risk.
The rise of online shopping and soaring costs have been blamed for the string of closures.
Independent retailers struggling
Small businesses have struggled in recent years in the face of changing shopper behaviour and reduced footfall to stores.
The British Independent Retailers Association (BIRA) said 2024 was one of the most challenging years for shop owners.
Andrew Goodacre, chief executive officer, said: “Consumer spending on non-food items has declined significantly, while persistent footfall problems and fragile consumer confidence have impacted high streets nationwide.”
Mr Goodacre added smaller businesses were struggling in an “increasingly competitive” market, with larger chains able to massively discount stock, and for longer periods.
The Centre for Retail Research said 13,479 shops closed for good in 2024, made up of 11,341 independents.
The centre expects 14,660 independent retailers to shutter this year due to the hikes to employer NICs and national minimum wage from April.
The independent retail sector has also been hit with an increase in in-store crime.
BIRA’s latest survey revealed 78% of businesses had been targeted by thefts in the past 12 months and that the frequency and severity of theft incidents had risen.
Why are retailers closing shops?
EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.
The Sun’s business editor Ashley Armstrong explains why so many retailers are shutting their doors.
In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.
Falling store sales and rising staff costs have made it even more expensive for shops to stay open.
The British Retail Consortium has predicted that the Treasury’s hike to employer NICs from April 2025, will cost the retail sector £2.3billion.
At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.
In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.
The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.
Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.
Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.
In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few.
What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.
They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.
The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year.