Major Retailers Based At Flemingate Announce Store Closures

Major Retailers based at Flemingate, Gourmet Burger Kitchen and also Debenhams have announced a number of store closures.

Gourmet Burger Kitchen say they will close 17 of their restaurants in the UK. While the troubled retailer Debenhams wants to close 50 of their shops.

Company bosses at Gourmet Burger Kitchen say that changes in the casual dining market are forcing them to make tough choices. As a result of these shifts in trends, Gourmet Burger Kitchen posted loses of £47m. 

Gourmet Burger Kitchen opened in Beverley in 2016, hailing the new restaurant at Flemingate as a resounding success. In September the signs that this major retailer was in trouble began to show when special advisors were called in.

More bad news from another major retailer came from Debenhams. They also announced closures increasing the planned 10 stores to 50.

Reports suggest Debenhams are due to announce record losses of over £500M. While the store closures are all part of their survival plan.

Debenhams was a key store went the retail park Flemingate was opened. As a business, they have struggled to adapt to the changing habits of consumers.

Bosses at Debenhams have even resulted to buying shares in the company to stop the rot. News of their plight as seen their share price drop even further to just 8.5p. 

Major Retailers Face Turbulent Future As Profits Fall And Trends Change

While major retailers seem to be struggling, local small businesses appear to be thriving in the town centre. In the past couple of weeks two new and newly owned retailer has opened.

It is concerning that these retail giants could be axed in Beverley, costing people their jobs. Should they both decide to pull out of Beverley it would leave a huge hole in Flemingate.

News that the Crown Post Office in Beverley also faces a very undcertain futue, the coming months could see some big changes.