Jobs have been axed at one shop in Bury St Edmunds while an announcement is due from today as to whether another one of our stores will close.
Meanwhile administrators for Clinton Cards Plc which also went into administration last week, are expected to announce from today, which of the 350 of its 784 branches are to close. It operates stores in Bury and Thetford.
Administrators Zolfo Cooper said: “The business is burdened with an untenable retail estate and as such, the joint administrators have regrettably taken the decision to close approximately 350 stores from the total estate of 784 stores.”
Around 2,800 jobs would be lost.
It said store closures will begin next week.
The closure of Clement Joscelyne in Bury, lead to four redundancies while a further 16 have been made across its seven other branches. It has employed 91 people.
A spokeswoman for administrators FRP Advisory LLP said: “It was found necessary to reduce company overheads in order to preserve the future of the business and safeguard the jobs of the remaining employees.
“Regrettably, due to high overheads, low stock levels and lower sales, the Bury store was found unviable to continue to trade and therefore was forced to close.”
Glyn Mummery of FRP Advisory, said: “The recent decline in public and consumer spending, and high competition from large budget retailers has sadly hit small to medium sized retailers such as Clement Joscelyne hard.”
Bid4Bury (B4B) chief executive Mark Cordell said: “It is disappointing. I still believe there are a lot of positives with regard retail in Bury and I am optimistic that this unit will be filled.”
He added that B4B will be running a chilli festival in Langton Place in August which he hopes will raise awareness of the businesses in that area of the town.