River Island has confirmed the closure of its store in Longwell Green, on the outskirts of Bristol, with a 30% closing down sale now launched. A sign on the shop door announces the sale and thanks customers for their support over the years.
The store, which opened in October 2008, will close for good on Wednesday, September 16. After its closure, customers will have to travel to either Cabot Circus in the city centre or the Cribbs Causeway shopping mall for their nearest River Island.
Part of wider restructuring plan
The closure of the Longwell Green store comes as part of a wider company restructuring plan to avoid administration after suffering significant financial losses. The sign on the door reads: "This store is closing – Wednesday, September 16. Thanks for shopping with us – we’ve had a blast! You can still shop the latest trends at riverisland.com and nearby locations."
After a court approved a restructuring plan for River Island, the company targeted 33 underperforming branches across the UK for permanent closure. Most of these shut in January, but additional branches have now announced closure dates for September, including sites in Bournemouth, Sheffield and Swansea. Around 120 stores will remain open across the UK and Ireland.
Reasons behind closures
River Island Chief Executive Ben Lewis previously said the closures are driven by a rise in high street operating costs and a shift towards online shopping. The retailer previously negotiated rent cuts of 25% to 75% at 71 stores in order to keep them open, a move that has allowed the brand, which employs around 5,500 people, to avoid collapsing into administration.
After the plans were announced, Mr Lewis said: "River Island is a much-loved retailer, with a decades-long history on the British high street. However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs."
He added: "The sharp rise in the cost of doing business over the last few years has only added to the financial burden. We have a clear strategy to transform the business to ensure its long-term viability. Recent improvements in our fashion offer and in-store shopping experience are already showing very positive results, but it is only with a restructuring plan that we will be able to see this strategy through and secure River Island's future as a profitable retail business."
