High street retailer Shoe Zone today became the first company in the sector to reveal that it is closing stores as a direct result of the Budget. The discount footwear company, which has 297 stores and has 2,250 employees across the UK, issued a profit warning today saying it has experienced “very challenging trading conditions” since October.

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Liverpool Echo

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Shoe shop chain with 297 stores announces closure of 'unviable' sites - Liverpool Echo

Shares in the retailer slumped as it slashed profit guidance for the year to next September, just two months after warning over 2023-24 earnings.

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Shoe Zone blames Budget costs for store closures and warns over profits

The shoe shop chain has been a go-to for Britons since 1980 and remains a firm staple on high streets across the UK. But a fresh wave of store closures could see this change.

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Reach plc

Shoezone confirms imminent store closures following Labour Budget announcement

The discount shoe retailer said the Chancellor's move to increase employers' National Insurance Contributions (NICs) and increase the minimum wage has led to "significant additional costs"

Daily Mirror

Major high street shoe chain with 297 shops to close stores

A HUGE shoe chain with 297 shops has announced it will close several of its stores following a Budget tax hit. Shoe Zone confirmed the “unviable” branches will shutter in a trading update to investors this morning. PAShoe Zone has confirmed it will close some of its “unviable” branches[/caption]
The closures come after it experienced “challenging trading conditions” in the first two months of the financial year. It said consumer confidence had w…

The Sun

Murdoch family

Huge shoe chain with 297 shops to close branches due to Budget tax hit

One major retailer announcing closures could spell more trouble for the British High Street(Picture: Google)  A major British retailer has revealed that it is closing stores in the wake of the government’s announcement of the Budget.  Chancellor Rachel Reeves delivered the controversial new Labour government’s Budget a little over six weeks ago. Amongst a host of changes, Reeves announced plans to increase both national insurance contributions a…

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Much loved shoe store with 297 shops reveals reason why some are closing down

The group, which employs around 2,250 staff across the UK, has 13 stores in Greater Manchester alone

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Shoe Zone announce store closures with 13 outlets in region possibly affected

Retailer Shoe Zone said it has shut stores in response to soaring wage costs following the recent Budget measures as it warned over profits once again.

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The company blamed Labour's budget and the decision to increase employers' National Insurance contributions

Retailer said it had seen  “very challenging trading conditions” since October.

Evening Standard

Carron Greig

Retailer Shoe Zone to close stores as a result of the Budget

Shoe Zone, the budget footwear retailer, has announced it is beginning to close stores owing to soaring wage costs.
Shoe Zone said on Wednesday that the government’s decision to raise the minimum wage and employer National Insurance Contributions (NICs) has led to “significant additional costs.”
“These additional costs have resulted in the planned closure of a number of stores that have now become unviable,” the company said.
The retailer, which…

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Shoe Zone Blames Minimum Wage and Tax Increases for Closures

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Shoe Zone blames budget for decision to close stores

Shoe Zone blames budget for decision to close stores

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