A MAJOR retailer with 100 branches has permanently shut one of its stores after launching a giant closing down sale. Select pulled down the shutters on its Coventry site for the final time last Friday (June 21). The outlet shuttered its West Orchards Shopping Centre store and is now in a Company Voluntary Arrangement, CoventryLive reported .
According to GOV.UK , CVA's provide a way for businesses to pay off their debts over a fixed period. The boarded up store will soon be replaced by a new clothing shop called C&S and is expected to open to the public "soon".
“Select closed last Friday (June 21) and handed the keys back on Monday (June 24)," Senior Asset Manager Andy Talbot said. "We understand Select is in a CVA. A new business C&S will be opening a fashion outlet soon.
” Locals previously hailed the store for its affordable threads. "This is the best store," one wrote. A second added: "A great shop for cheap budget clothing and deals.
" The high street has been hit hard in recent years as shoppers turn to online retail, a trend made worse by the Covid-19 pandemic. Businesses have also had to cough up more on energy , wages and business rates. It has seen some shops forced to close permanently in a blow for customers.
Some major retailers have fallen into administration, including Ted Baker , Wilko and The Body Shop , seeing hundreds of shops close and thousands of workers lose their jobs. Figures from the Centre for Retail Research, a research foundation, revealed almos.
