Cotswold Outdoor to close branches across UK as profits fall
PUBLISHED: 11:15 26 April 2019 | UPDATED: 12:31 26 April 2019
The UK company behind Cotswold Outdoor has today announced that it will close a number of UK stores after a decline in high street sales - and the Ipswich branch looks set to be among them.
The chain also has stores in Bury St Edmunds and Norwich.
Outdoor & Cycle Concepts Ltd (O&CC), the UK retailer that operates Cotswold Outdoor alongside Runners Need, Cycle Surgery and Snow+Rock, has entered into a company voluntary arrangement to close loss-making stores.
A representative for O&CC said: “In recent months the business has experienced significant pressures on performance, in particular declining high street footfall is having an impact across stores.
“As a responsible company, O&CC have worked hard to review the best way to secure the future of the business, jobs for their people and ensure they look after their customers.”
The company have not yet disclosed which of its stores will be closing, but there are concerns over the future of the Ipswich branch after a 'to let' advert was published online.
The Cotswold branch in Ipswich is currently found in the Grade II listed building – the Great White Horse Hotel – which closed in 2008 after serving the town for centuries as a popular hotel in Tavern Street.
Jose Finch, managing director at O&CC, said: “We have started to engage with key stakeholders, suppliers & property landlords to explore all options. It is vital that we make the right choices that will ensure we create a strong future together.
“The future of O&CC is in our hands and it will require hard work, commitment, sacrifices, and a strong focus on our day to day improvements.”
All of the UK stores, including the branch in Ipswich, still remain open for business as usual for the immediate future. There is no risk to customer purchases, orders, deliveries or Click & Collect.
Customers can also buy online and the normal delivery and returns policies still apply.
There will be more details in the near future as to which stores will close.