The Midlands Co-operative is to close its fashion and home department stores after failing to compete with online rivals in a phased closure programme over the next six months.
The mutual will close its eight fashion and home department stores in the Midlands after the company projected “further decline with increasing losses in future years”.
The company said all customer orders and gift vouchers will be honoured as the stores close over the next six months.
The Midlands Co-operative said: “Major changes in the retailing sector and the ever increasing growth in online shopping over recent years have created significant and fundamental challenges for the society’s fashion and home business.
“While our other businesses have flourished, the society has been incurring substantial losses from the fashion and home operation for more than a decade and in spite of sustained efforts to improve performance, the latest financial projections indicate a further decline with increasing losses in future years.”
The retailer said it 200-store food business remains unaffected and last week reported strong Christmas trading with like-for-like sales up 2%.
The retailer, which trades under The Co-operative Food fascia, reported total sales up 9.8% in the three weeks to January 5.
The list of stores to close are:
- Chesterfield Department Store, Elder Way
- Coalville Department Store, Belvoir Road
- Derby Department Store, Exchange Street
- Ilkeston Department Store, South Street
- Long Eaton Bed Centre, Cross Street
- Stafford Department Store, Gaolgate Street
- West Bridgford Department Store, Central Avenue
- Wigston Department Store, Bell Street
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