Lanes Gifts in Falmouth to permanently close down

A popular shop called Lanes Gifts in Falmouth, Cornwall, is closing after 13 years. The owners announced a closing down sale to clear out their stock. They expressed sadness but also excitement about retiring and spending time exploring their county. The owners thanked their customers for their support over the years. Lanes Gifts offered a variety of handmade furniture and gifts. Their closure highlights a growing trend, as many retailers are shutting down due to rising online shopping, high business rates, and inflation. The Centre for Retail Research reported that in 2024, over 13,000 stores closed in the UK. Most of these were independent shops. The tough economic conditions have led businesses to face insolvency, which means dealing with serious debts. Retail closures continue this year as well. Homebase is shutting 33 stores after falling into administration. This brings its total store closures to 52 since last year. The British Retail Consortium predicts that a recent increase in employer tax will cost retailers £2.3 billion. Additionally, a survey found that more than half of businesses plan to raise their prices soon, largely due to high employment costs. Experts warn that retail job losses may reach over 200,000 by the end of this year, making 2025 appear very challenging for the industry.