A shoe chain shuts its Gloucester store due to high costs

A shoe chain, A.G. Meek, is closing its Gloucester branch this week after 60 years due to rising costs and falling foot traffic. The closure leaves the chain with four remaining locations, all in Wales. The owner cited the upcoming increase in employer National Insurance Contributions and a decrease in business rate relief as key factors. The chain's owner stated that rising costs, including increased National Insurance and business rates, are unsustainable. A closing down sale is underway. In 2024, the British Retail Consortium projected the retail sector would have £2.3billion added in employer NICs. Other businesses have also announced closures this month, including WHSmith, which is reducing its high street presence. Multiple retail sites are expected to close this year amid shifting consumer behavior and economic challenges.