5 High Street Stores That Have Faced Closure August 12, 2016 0 comments As BHS becomes the latest high street retailer to hit the headlines for all the wrong reasons, we’re taking a look at well-known stores that have faced closure. From online competition to financial unease, some of these famous faces have said goodbye to the high street for good – while others were rescued from the brink. Let’s take a closer look. HMV A photo posted by hmv (@hmvinstagram) on Jun 14, 2015 at 10:06am PDT HMV faced administration in January 2013, when the rise of online shopping and the ability to stream music at a reduced rate meant that the high street store’s 91-year reign came to an unfortunate end. In April that year, it was announced that around 130 of the remaining stores were to be saved, when Hilco UK agreed to help the company in its hour of need. HMV relaunched its online store in June last year and continues to trade. Blockbuster With the rise of online streaming and downloads, the once-popular video giant found itself struggling to compete with the range, convenience and comparative affordability of online alternatives. Blockbuster went into administration in January 2013, but a turnaround seemed likely when Gordon Brothers Europe bought the company two months later. Despite an attempt to merge the business’s previous success with a more digitally engaged audience, the company was finally dissolved later that year – saying goodbye to its remaining 264 stores. BHS A photo posted by BHS (@bhs_uk) on May 10, 2016 at 2:15am PDT The popular department store hit the headlines earlier this year when rumours around potential closure caused a stir with staff. The store first went into administration in April and, despite numerous rescue attempts, the company finally accepted its demise in June. Several stores around the country have closed their doors, with long-serving staff members waving goodbye to careers that span decades. With an estimated 11,000 jobs lost, former owner Sir Philip Green – who sold the company for £1 last year – has faced scrutiny from the British public and numerous politicians. With calls for Green to bridge the gap in the pension deficit for former employees, this looks like one case that won’t be closed for some time. Phones 4U When EE finally cut ties with the mobile provider in September 2014, the company had no other option than to admit defeat. Phones 4U had lost several of its mobile partners in the lead up to its closure and, with 720 stores around the country, job losses were significant. While Phones 4U’s closure was viewed as a positive boost for other mobile retailers, its staff were hit hard by the collapse of the business – with some employees hanging heartbroken signs in the windows of closed stores. Jessops A photo posted by Jessops (@jessops) on Jun 4, 2016 at 3:43am PDT Jessops first faced financial trouble in 2007 and, in early 2013, it was announced that the photography retailer had gone into administration. Salvation came a few weeks later, when Dragon’s Den’s Peter Jones decided to relaunch the company and created Jessops Europe Limited. At the time, Jones admitted he was taking a huge risk in attempting to save the company, but assured the public that they had a real chance of making it work. Three years on, the company now has more than 50 stores operating throughout the UK. How to make the most of a closing down sale Closing down sales don’t have to be all doom and gloom – and they shouldn’t look like a jumble sale, either. Whether your business is shutting its doors for good or relaunching under another name, a closing down sale presents a valuable opportunity to drive those last-minute sales and boost cash flow. When it comes to your store’s windows, your visual merchandising needs to make an instant impact – using eye-catching window graphics to alert customers to any special offers and sale items. Group together complementary products and create window displays illustrating reasons your customers may benefit from buying them. For example, if you’ve reduced your garden furniture and barbecues, you could create a striking shop window display that shows the items in situ to maximise interest in these cut-price products. Large red window clings are a powerful sales tool, drawing in the eye and encouraging customers to enter your store – so it’s worth going bold with your designs. By pouring time and effort into your retail window displays, you can generate increased footfall – helping you move clearance items quickly while giving your loyal customers a welcome bargain. Need a hand designing stickers for your window displays? The shop4pop.com team are happy to help! Give us a call today on 0191 419 8655 to find out more.