A SHOE chain is set to close one of its shops this week after 60 years in business.
A.G. Meek will shut its branch on Eastgate Street, , on April 12 in a blow to shoppers.
The closure will mean the chain has just four remaining sites, all of which are in .
Owner David Meek said the shop will shut due to the upcoming employer National Insurance Contributions, a decrease in rate relief and lower footfall.
From this month the rate of that employers must pay will rise from 13.8% to 15%.
Meanwhile, the threshold at which they are paid will be lowered from £9,100 to £5,000.
Plus an existing discount on business rates will fall from 75% to 40%.
In a post on , Mr Meek said: “We have been struggling with rapidly rising costs and reduced footfall since the and the shop has not been covering its costs.
“I have held off hoping things would improve, but the recent budget is a disaster for small businesses employing lots of part time staff like ours.
“Our National Insurance on one shop and our business rates are increasing by £5,000 a year each from April and this is unsustainable.”
The chain launched a closing down sale, with discounts available on a range of branded shoes.
Customers who make a purchase could also get a £10 voucher to use on the A.G. Meek website or at one of the retailer’s other branches in south .
A.G. Meek opened its first shop in in 1912.
It became popular in the 1950s for its Meek’s Sets, which includes shoes, a bag and gloves.
Which other shops have closed stores?
Small businesses have struggled in recent years due to changing shopper behaviour and reduced footfall at their stores.
The British Independent Retailers Association said last year was one of the most challenging for shop owners.
Andrew Goodacre, chief executive officer, said: “Consumer spending on non-food items has declined significantly, while persistent footfall problems and fragile consumer confidence have impacted high streets nationwide.”
He added that small businesses have struggled in an increasingly competitive market as larger chains are able to discount stock for longer .
The Centre for Retail research said 11,341 independent retailers closed for good last year.
In total 13,479 shops were forced to shut in 2024.
The trend has continued this year and several retailers have already announced this month.
Among them is , which is set to close six stores this month as it withdraws from the high street to focus on its travel arm.
The stores earmarked for closure are:
- Halstead, Essex
- Halesowen, West Midlands
- Diss, Norfolk
- Newport, Wales
- Haverhill, Suffolk
- Woolwich, London
No dates have been given for the closures yet apart from Haverhill, which will close for good on April 26.
Last month it shuttered stores in Winton, and Basingstoke.
The WHSmith brand is set to leave the high street for good and has agreed to sell 500 shops as part of a £76million deal.
Retail investor Modella Capital has bought the portfolio and all the stores will be rebranded as TG Jones.
WHSmiths is focusing on its 580 travel stores in hospitals, airports, railway stations and motorway service areas.
is also set to shut its store in Newmarket Road, on April 18.
It has previously shut branches in Stroud, Gloucestershire and High Wycombe.
has also closed stores in Dunee, Banbury and Southend this year.
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