Gap Closes All UK Stores. Will Other Brands Follow Suit?
Clothing retailer Gap may not be the last large store to abandon the UK high street, according to the British Independent Retailers Association.
The US-based retail company has announced it will close all of its 81 stores in the UK and Ireland by the end of September, and move to online only. The announcement follows the loss of Debenhams and Arcadia Group stores on the high street during the pandemic.
Andrew Goodacre, chief executive of the British Independent Retailers Association, fears more large high street chains will follow and not just in the clothing sector. He said: “Gap is not the first and won’t be the last, I suspect.
“Large chains are often in large premises paying high rents and rates, and it is just not working for them.”
He explained that he doesn’t see any new chains developing, as many of them already have too many stores in locations that cost a lot of money, forcing them to make tough decisions, leading to other retail giants winding down their physical locations
Mr Goodacre added: “It’s interesting that the ones in trouble tend to be clothing retailers, with Debenhams, Arcadia and Gap.”
Other sectors may follow suit, he said, but the clothing sector was massively impacted by the downturn in consumer spending due to the pandemic, but he thinks that Primark is the exception to the decline.
“Primark is different and full marks to them for making it work, but their model will not suit everyone so more retailers will pull out and go online, which is what Gap is doing,” he said.
As a result, he said that independent retailers will become even more vital to the future of high streets, as smaller stores and lower rents mean they can make the high street work for them, and independents have more determination to stay.
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