High street havoc: Select Fashion shocks with rapid-fire closures across the UK!

Hold onto your hats, fashion lovers! High street giant with a whopping 105 stores is shocking the UK with a flurry of closing down sales as it reveals plans to shut not just one or two, but four more locations! The once-bustling hub of affordable chic, Select Fashion, is pulling the plug on its branches before the month’s end.

Kiss goodbye to two hotspots in vibrant Hull and wave farewell to Wolverhampton and Scunthorpe. This isn't just a ripple; it’s a tidal wave following this month's earlier closure bombshells: Kidderminster, Crewe, and Thornaby. Pop quiz: What do all these closures have in common? They’re all set to break hearts by the end of the month!

Once the darling of the high street, this British fashion empire faced some stormy seas when it slipped into administration back in 2019. But like a phoenix, it was bought back by Genus UK Limited. Yet, trouble brewed again, as shown in the latest treasure trove of info from Companies House, revealing that Select Fashion waltzed into a CVA last summer.

Talk about a dramatic twist! These moves echo the footsteps of big names like Caffe Nero and Body Shop, who had their own brush with CVAs. Now, Select Fashion is saying adieu to four more UK locations, confirmed by none other than its social media-savvy Wolverhampton crew.

As January draws to a close, Wolverhampton and Scunthorpe are seeing massive sales to clear shelves, with locals lamenting yet another "nail in the coffin" for their areas. Rumor has it Argos shut its doors last year too. In Hull, the sound of the closing down sales signs going up is already echoing through Ferensway and St Andrew’s Retail Park.

Meanwhile, the high streets are shaking as The Body Shop shutters five branches across the UK, while others like Exeter and Plymouth are already history. The retail rollercoaster shows no signs of slowing!

The British Retail Consortium forecasts a hefty £2.3 billion burden for retailers due to NICs rises, while survey whispers suggest that prices are set to soar soon. Buckle up because research indicates around 17,350 sites might shut this year! Professor Joshua Bamfield from the Centre for Retail Research warns of a dire 2025 with potentially 202,000 retail jobs heading for the chopping block.

Is this a spree or a clearance countdown? With a massive wave of closures sweeping the nation, this saga is far from over. Tune in for the next chapter of the retail drama!