Shoe Zone has now revealed that it made a pre-tax loss of £2.5 million in the six months to April 4, thus store closures and head office job cuts are on the way for the struggling shoe retailer.
“Covid-19 will continue to have an unprecedented impact on the UK economy and the retail industry. Whilst the group has taken all possible steps to ensure that the business will survive through the crisis and continue into the future, the impact is likely to continue to be felt for several years.” – Anthony Smith, Shoe Zone Chief Executive.
“As a result of this and following an extensive review of the store portfolio Shoe Zone has closed an additional 20 stores during lockdown and will only open 470 when permitted. The group has also taken immediate action to reduce costs at head office and pause all areas of discretionary spend. Negotiations with landlords have also been accelerated and supplier orders reduced, cancelled or deferred as far as possible.” – Smith concluded.
