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Business

Thorntons announces store closures

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 13:31, 28 June 2011

Thorntons

More high street jobs are at risk after Thorntons, the chocolate maker and retailer, announced the closure of at least 120 stores across the UK.

The company. which operates 12 stores in Kent, including Maidstone, Gillingham, Canterbury, Dartford, Ashford, Sevenoaks and Margate, has not so far disclosed which shops will shut.

It says decisions will depend on the timing of lease renewal, as well as store profitability and customer numbers. The chain currently operates 364 stores and 237 franchise outlets.

Up to 750 staff are likely to be affected by the closures. They will be told over the next few days if their store is scheduled for closure.

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The move follows a review of the business which spells out radical changes over the next three years.

Thorntons, which admits that current trading is challenging, has been hit by cuts in retail spending by consumers and dependence on seasonal sales.

It hopes the new strategy will create a more profitable business with less reliance on seasonal sales.

Jonathan Hart, Thorntons' chief executive, said: "Our goal is to refocus the business across all channels and seek to deliver industry competitive returns over the next three to five years. Although we see the prospect of weakness in High Street footfall and consumer sentiment continuing, I am confident that this strategy is right."

Other retailers in trouble include Moben Kitchens, Jane Norman and T J Hughes which have all gone into administration.

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