Why are shops closing stores? (1)
The 130-year-old retailer, which sells party costumes, wigs and decor, was founded in 1894 and is said to ship more than 26million items each year.I visited the UK’s biggest Wetherspoons - and you can get a pint for under £3
It also owns game developer and published Wizkids, Kidrobot, a creator of limited-edition art toys and lifestyle accessories, and Rubies II a US costumes company.
Luckily for Smiffys, all of the business has been snapped up and it's understood that the chain's physical stores will continue to trade as normal under new ownership.snapped up the brand, and its range of stationary, cards and gifts can now be bought online and at some selected Tesco stores.It then launched a Wilko website and, in a shock move, started opening new Wilko stores on the high street.
The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Boss Stuart Machin recently said that when it relocated a tired store in Chesterfield to a new big store in a retail park half a mile away, its sales in the area rose by 103 per cent.
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