B&M, a large discount retail chain, has begun a series of closures.
The general store, which is similar to Poundland or Home Bargains and has more than 700 outlets, says the move has not been forced by the wider decline of high street shopping.
The closures are taking place alongside new openings and store relocations.
Here’s what you need to know.
What stores are affected?
The following stores are affected by the closures:
- Maesglas Retail Park, Newport (Wales) – 4 March
- Castlegate Shopping Centre, Stockton – Already closed
- Queens Drive Retail Park, Kilmarnock (Scotland) – 26 March
- Bristol, Broadwalk Shopping Centre – Closing early April
Why are the closures taking place?
The closures do not appear to have not been forced by poor trading conditions.
B&M, which employs 35,000 staff, has been performing well in the cost of living crisis, as it offers customers a cheaper alternative to elsewhere.
In November last year, B&M reported a 1.8 per cent increase in sales in its six-month trading update.
The retailer’s chief executive said the chain wanted to continue to support customers with their discount pricing.
“We will do our very best to help them weather the cost of living crisis,” Alex Russo said.
B&M has outlined how closures will be taking place alongside relocation and new openings.
A spokesperson for B&M said: “Due to the demolition of Castlegate shopping centre, we will be relocating our Stockton store to a much bigger and better site later on in the year.
“Our Kilmarnock store has relocated to a much bigger and better site already, and this opened around the start of February.
“Our Newport, Maesglas Retail Park and Bristol, Broadwalk stores will be closing due to the lease with the landlord’s coming to an end with those properties.”
For anyone affected by the closures, B&M added a home delivery service to its website last year.
Regular delivery costs £3.95, medium £7.95, and large £14.95. Customers can expect to receive their order in between three to seven working days.
To find your nearest B&M, visit their website’s store finder.