Fresh blow for high street as Simply Be owner N Brown opts to close all its stores

N Brown, the company that owns Simply Be and Jacamo, is considering closing its remaining shops and becoming an online-only retailer as it suffers from declining footfall on the high street.

The move will affect the retailer’s 20 stores and put 270 jobs at risk. N Brown said it expects consultations with staff to be completed by October.

The plan to close the stores, which generated only 2pc of N Brown’s revenue last year, will cost between £18m and £22m. The store estate made a £3m loss before interest, taxes, depreciation and amortisation.

Angela Spindler, chief executive, said: “This action has not been taken lightly and we will do all we can to support the colleagues affected during this…

https://www.telegraph.co.uk/business/2018/06/14/fresh-blow-high-street-simply-owner-n-brown-opts-close-stores/

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