This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-53348519
The article has changed 10 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
John Lewis to close eight stores permanently | John Lewis to close eight stores permanently |
(32 minutes later) | |
John Lewis has announced it is permanently closing eight of its stores, putting 1,300 workers at risk. | John Lewis has announced it is permanently closing eight of its stores, putting 1,300 workers at risk. |
The retailer said it had to "secure the business's long-term future and respond to customers' shopping needs". | The retailer said it had to "secure the business's long-term future and respond to customers' shopping needs". |
Department stores in Birmingham and Watford will not reopen as the coronavirus lockdown eases. | Department stores in Birmingham and Watford will not reopen as the coronavirus lockdown eases. |
At Home stores in Croydon, Newbury, Swindon and Tamworth will also shut down, as will travel sites at Heathrow airport and London St Pancras. | At Home stores in Croydon, Newbury, Swindon and Tamworth will also shut down, as will travel sites at Heathrow airport and London St Pancras. |
The move comes a day after Chancellor Rishi Sunak announced measures aimed at safeguarding jobs amid the downturn, including a one-off £1,000 payment to employers for every furloughed employee retained to the end of January 2021. | |
John Lewis had warned in March it could close shops as a plunge in profits forced it to cut staff bonuses to their lowest level in almost 70 years. | |
It said the eight stores affected were already "financially challenged" even before the pandemic struck. | |
However, Covid-19 had caused customers to move more quickly towards online shopping and away from stores. | |
John Lewis Partnership chairwoman Sharon White said: "Closing a shop is always incredibly difficult and today's announcement will come as very sad news to customers and partners. | |
"However, we believe closures are necessary to help us secure the sustainability of the partnership - and continue to meet the needs of our customers, however and wherever they want to shop." | |
Ms White said John Lewis would do everything it could to keep on as many people as possible. | |
The John Lewis Partnership is owned by its staff - known as partners - who usually receive a bonus each year. | |
This year, staff bonuses were set at 2%, the lowest since 1953 when it paid no bonus. | |
Profits at the partnership dived by 23% last year to £123m - the third year in a row that profits have fallen - as it continued to struggle with the slowdown in consumer spending. | |
Do you work in any of the John Lewis stores which are due to close? How will you be affected? Email: haveyoursay@bbc.co.uk. | |
Please include a contact number if you are willing to speak to a BBC journalist. | |
Or use the form below: |