Magnet closes Stoke-on-Trent branch after 25 years

Magnet, a large homeware chain, has permanently closed its Stoke-on-Trent branch after 25 years. Customers are directed to the Stafford location for continued service. The reasons for the closure have not been disclosed. The 11,000 sq ft site is now available for lease. This closure follows a trend of retail downsizing, with many stores shutting down due to rising costs and a shift towards online shopping. In 2024, over 13,000 stores closed in the UK, with predictions of more closures in 2025. The retail sector faces significant challenges, including increased operational costs and inflation affecting consumer spending.