British chocolate firm Thorntons announced on 28 June that it plans to close up to 180 of its shops over the next three years, due to weak consumer spending in Britain, RTE Ireland reported.
The group, unveiling a major strategy review, said it would withdraw from at least 120 outlets by 2014 as their leases expire and consider the future of an additional 60 shops over the same period, leaving 1,125 jobs at risk.
The plan will leave Thorntons with around 200 stores, and the chocolatier will still maintain a network of franchisees.
Thorntons store closings represent the latest blow to the UK high street after the failure of chains Habitat and Oddbins in recent weeks.
Our goal is to refocus the business across all channels and deliver industry competitive returns over the next three to five years, Thorntons Chief Executive Jonathan Hart said.
"Although we see the prospect of weakness in high street footfall and consumer sentiment continuing, I am confident that this strategy is right," he said.
Crikey! We're doomed!
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