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Legendary shopping centre to shut after 40 years with HOURS left to bag bargains in closing down sales
Legendary shopping centre to shut after 40 years with HOURS left to bag bargains in closing down sales
Britain's retail apocalypse: why your favourite stores KEEP closing down
A LEGENDARY shopping centre will shut it doors for the final time today.
Connswater Shopping Centre in east Belfast closes its doors today, 21 March 2025, after more than 40 years of serving the community.
The remaining 20 tenants, including Boots, New Look, Poundland, and Claire's Accessories, have been given notice to vacate
Opened in 1983, the centre was once a bustling retail hub and a key shopping destination in the city.
However, challenging trading conditions and the departure of major retailers led to a gradual decline in footfall, ultimately resulting in receivership earlier this month and today's closure.
The remaining 20 tenants, including Boots, New Look, Poundland, and Claire's Accessories, have been given notice to vacate.
While the closure marks a sad day for east Belfast, the adjacent retail park, housing stores such as The Range and Lidl, remains unaffected.
The receivers are currently exploring potential future uses for the site, including marketing it for sale.
BDO NI Partners has been appointed fixed charge receivers.
A spokesperson for BDO NI told BBC News that “despite best efforts to sustain the centre, the costs of keeping it open were no longer feasible”.
The firm said it will help tenants remove stock over the coming weeks and give them additional time to make alternative arrangements if needed.
“Once this has been completed, we will then move to market the site for sale,” the spokesperson said.
Poundland recently confirmed that its store in the shopping centre will bring the shutters down for the final time this evening.
Why are so many pubs and bars closing?
In the lead-up to the closure, the budget retailer has halved prices to clear its remaining stock.
While Poundland has expressed disappointment at having to leave the site, it stated that the decision to close was unavoidable.
This latest closure follows a series of store shutdowns by the bargain retailer at the end of last year, when 13 locations were shuttered over a three-month period.
EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.
Flying Eze's business editor Ashley Armstrong explains why so many retailers are shutting their doors.
In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.
Falling store sales and rising staff costs have made it even more expensive for shops to stay open.
The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 2025, will cost the retail sector £2.3billion.
At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.
In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.
The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.
Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.
Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.
In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few.
What's increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.
They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.
The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year.