Wynsors, a discount shoe retailer, has announced plans to close several stores, putting around 100 jobs at risk. The company, which operates over 60 outlets across the UK, is launching a restructuring process to address financial challenges.
The proposed closures are part of a Company Voluntary Arrangement (CVA) aimed at reducing costs and securing the business's future. A CVA is a legal agreement with creditors that allows a company to pay off debts over time while continuing to trade.
Wynsors has not yet confirmed which specific stores will be affected, but employees have been informed of the potential redundancies. The retailer cited rising operational costs and changing consumer habits as key factors behind the decision.
The news comes amid a challenging period for the UK high street, with many retailers struggling to adapt to increased online shopping and higher business rates. Wynsors joins a growing list of brands that have turned to CVAs to stay afloat.
Unite, the trade union, has expressed concern over the job losses and called for support for affected workers. The company has stated it will consult with staff and unions throughout the process.
