Blow for Northampton as more town centre shops poised to close
RETAIL giant Argos will close its Abington Street store, it was confirmed yesterday as toy store Hawkin’s Bazaar announced it was going into administration.
The blow comes after many retailers recorded strong trading during the Boxing Day sales nationally.
It concludes a tough month for the town centre which has also seen Jane Norman finally close its doors in Abington Street, months after announcing its closure, and the loss of ShakeAway in the Grosvenor Centre, which blamed ‘unreasonable rent’ for the decision.
Novelty gift shop Hawkin’s Bazaar in Market Walk advertised its closing down sale after parent company Tobar Group announced its intention to appoint administrators following low sales. Peter Saville, from restructuring firm Zolfo Cooper, which is lined up to take on the administration of Hawkin’s Bazaar, said: “In common with many retailers, the group has experienced exceptionally challenging trading conditions.
“We will be working to ensure the best possible outcomes regarding preservation of jobs, value of the business and returns to creditors.”
Argos opened in Abington Street in 2005 following the closure of catalogue chain outlet Index.
The chain still has stores in St Peters Square and at the Sixfields Retail Park. A spokesman for Argos said: “Argos will not be renewing the lease on its store in Abington Street which will close on Friday January 20, 2012.
“Argos is exploring alternative working opportunities for the affected employees at this store wherever possible.”
Fifteen new Argos stores have opened across the UK this year and more than 300 stores have been refurbished, the spokesman added.
Earlier this month La Senza, which has a branch in the Grosvenor Centre, also announced its intention to enter into administration, while Blacks Leisure group, whose head office is in Swan Valley industrial estate in Northampton, put itself up for sale after falling millions of pounds into debt.
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Comments
There are 12 comments to this article
Page 1 of 1
Finker
Tuesday, January 3, 2012 at 05:51 PMYep fruitcake, they're three a penny
Fruitcake
Tuesday, January 3, 2012 at 04:13 PMHopefully this will provide an opportunity for one of those pound shops. You can't have too many of them.
lady muck
Tuesday, January 3, 2012 at 12:34 PMThere is nothing in this article to suggest that Argos are blaming high rents or Council Tax. They are simply vacating the store as the lease becomes due. I know nothing about the structures of lease agreements but assume that the landlord knows the level of rent which is achievable (and for all we know, Argos may still have closed even with a substantial rent reduction). If the owners have misjudged 'the market', the site will remain unoccupied. This is Capitalism......
02Shane
Monday, January 2, 2012 at 06:32 PMRemember People Homebase and Argos are the same company just with a different name for trading............
pushkin
Sunday, January 1, 2012 at 09:04 PMAn easy decision for Argos owners, the new store at Sixfields costs them nothing extra in rent (they were paying the rent on the whole store of Homebase) By dividing the store into 2 it was a sensible business decision. We have one Argos still in town and the Sixfields one is useful for free parking. Unfortunatly the lease expires on the Abnington branch and landlords and councils are too greedy. Even if the rent and rates were reduced it is still not viable to have two in the town centre. Best of luck to all the Staff lets hope they all get redeloyed in either the other 2 Argos or the two Homebase stores.
HOS
Sunday, January 1, 2012 at 12:06 PMLandlords would rather sit with empty and decaying properties in a recession rather than accept lower rent. Only in the UK will you see such retarded business attitudes.
SteveRiches
Sunday, January 1, 2012 at 01:36 AMWhile the rest of the world has to settle for less in a double recession, the landlords just keep their rents high and don't give a damn.
Chris Lambert
Saturday, December 31, 2011 at 11:05 AMI agree with Donathome. We don't really need 3 Argos stores in Northampton. The abington Street one has always seemed a little pointless to me. I've always used the one near iceland as it's easier all round. Of course it's a shame for people to lose jobs, but they will likely be offered jobs at the other stores.
Links
Saturday, December 31, 2011 at 10:06 AMThere was always (and still is) the capacity for two Argos stores in the town so when HRG took on many of the closing Index stores en masse it provided a quick and easy option to open a second. When the Sixfields branch opened I think it signalled the end for the Abington Street store; I'd guess they've just been waiting for the lease to run down.
Common sense
Saturday, December 31, 2011 at 10:06 AMThe pity here is the people working for Argos who have lost their jobs.i hope our MP's and Councilors throughout the County recognise the perilious economic position Northamptonshire finds itself. Its about time Enterprise and Jobs (however that comes about) have to be given a fair share of preference over the next decade or so as the begrudgers and nimby's have for the last decade. Lets have positive can do politics
donathome
Saturday, December 31, 2011 at 09:57 AMI never like to see businesses close, but in this case who needs 3 Argos shops in a town this size? Along with the poor access via vehicle to Abington St, its a wonder this store hasn't shut a lot sooner.
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Saturday, December 31, 2011 at 09:13 AMArgos was a brilliant concept when it started, but like many others cannot compete with the internet. Sign of the times.
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