Budget footwear retailer Shoe Zone is set to close more stores across the UK after warning that rising costs and weak consumer confidence have pushed the business into losses.
The Leicester-based chain, which operates more than 250 stores nationwide, said it had already closed 14 shops during the first half of the year and, according to reports, indicated that further closures could follow as trading conditions continue to deteriorate.
The company revealed it had fallen to a pre-tax loss of £5.3 million for the six months ending 28 March, more than double the loss reported during the same period last year. Revenues also dropped by 12 per cent to £62.9 million, while online sales declined despite continued investment in digital retailing.
Executives blamed a combination of economic uncertainty, rising National Insurance contributions and higher shipping costs linked to instability in the Middle East. The retailer said shoppers were spending less as household budgets remained under pressure.
Shoe Zone has been reshaping its store portfolio in recent years by shutting smaller branches and focusing on larger-format sites. Although the company has opened several upgraded stores, the total number of outlets has continued to fall.
Retail analysts say the closures reflect wider challenges facing Britain’s high streets, where rising operating costs and the continued shift towards online shopping are forcing many chains to reduce their physical presence. Several major retailers have announced closures or restructuring plans in recent months, including LK Bennett and Russell & Bromley.
Despite the difficult outlook, Shoe Zone said it would continue investing in larger stores and digital sales channels, including expanding onto social media platforms such as TikTok Shop. However, the company warned that trading conditions remain uncertain for the rest of the year.
