Clarks to permanently close some UK stores as it mulls new financing options

Clarks sign

Struggling footwear specialist Clarks has drawn up plans to permanently close some of its stores after drafting in bankers to review its finances.

The family-owned retailer has decided to permanently close a small number of its 347 UK store estate, even after the coronavirus-enforced closure of non-essential stores comes to an end, due to its struggling financial position.

Sky News reported that Clarks has appointed Rothschild bank to explore financing options for the business, including possible access to new borrowing facilities, as the slowdown bought on by the ongoing coronavirus epidemic has hit the retailer.

The retailer has also furloughed thousands of store staff under the government’s coronavirus job retention scheme.

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