Beaverbrooks closing two more stores in Birmingham, High Wycombe

A well-known jewellery chain, Beaverbrooks, is closing two of its stores this weekend. The Birmingham Fort and High Wycombe locations will shut their doors for good on March 23. Signs in-store show that items are now discounted by up to 30%. Beaverbrooks has announced the closure of a total of seven stores due to a recent business review. Other locations closing include shops in Huddersfield, Croydon, and Sutton Coldfield, with specific closure dates in early April. Additionally, the chain has already closed branches in East Kilbride and Dundee, Scotland. The company's managing director, Anna Blackburn, stated that the closures come as part of a strategy to address underperforming sites. She emphasized the company’s commitment to support affected employees, aiming to retain as many as possible in other stores. The retail sector is facing difficulties, with many businesses closing due to the shift towards online shopping and rising costs. Factors like increasing wages and national insurance contributions are also putting financial pressure on retailers. The British Retail Consortium predicts significant job losses in the sector in the coming years. Beaverbrooks is also looking to the future, with plans to open a new location in Harrogate this spring and renovations at other branches. Despite these efforts, the chain’s profitability has been declining, reflecting broader challenges within the retail industry.