TK Maxx store in Swansea will close this weekend
SWANSEA'S TK Maxx store will close next weekend, bosses have confirmed.
The Post revealed yesterday that the High Street clothing and homeware shop in Oxford Street expected to close.
Now the chain's parent company, TJX Europe, says it will shut up shop at the city centre store for good on Saturday, September 26, with business transferring to its stores at the Morfa shopping park and Parc Trostre in Llanelli from the following Monday.
The company has said the Oxford Street store was too small.
The 18,000 sq ft store first opened its doors nine years ago, to be followed by a 37,000 sq ft store on the Swansea Morfa retail park four years later.
Susanne Given, managing director for TK Maxx UK and Ireland, said: "In Swansea we've found that the TK Maxx concept is best delivered when we can offer our full range of labels for less, across all departments.
"Our customers enjoy a more rewarding shopping experience in the bigger store where a wider choice is on offer. We will continue to look for sites in South Wales that meet with our ongoing property strategy. In the meantime we will do our utmost to redeploy the 30 employees currently working in our city centre store."
It is not yet known if another company is being lined up for the Oxford Street premises.
Business in the Bay website
The loss of the big retailer is a blow to Swansea at a time when the council and traders
are trying to breathe new life into the area.
In the past 12 months MK One has closed, as has the Gap store, Birthdays card shop and Profile clothing.
Peter Birch, of the Swansea Business Improvement District, said he was very disappointed with the news that another shop was pulling out.
"Having another empty shop isn't what we're trying to do. It seems to be a sign of the times, and if the TK Maxx shop was profitable, it would be staying open.
"I just hope that we fill the vacant shops."
There has been some good news, as recent months have seen the opening of Slaters and Zara on the site of the former David Evans department store. But there are still five empty units there waiting to be occupied by businesses.
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by Stephen G, Swansea
Sunday, September 20 2009, 8:09PM
“Paul of West Cross
Tosh - and this is the TK Maxx thread anyway!”
by Paul, West Cross
Sunday, September 20 2009, 1:29PM
“Dai, Swansea.
Stephen G is a well known LibDem spinner who has been trying for a very long time to pin responsibility for the bendy bus on Labour.
Stephen G occasionally posts comments on the same threads as James (sometimes uses his surname) Sheridan.
See the TK Maxx threads (Sept 17) where Stephen and James praise each other. Vomit inducing.
I hope that WendyFuss didn't waste the time of Council staff whilst searching the archives.”
by Stephen G, Swansea
Sunday, September 20 2009, 9:03AM
“Glen
Thanks for the figures. I guess this puts Swansea at about the UK average for shop occupancy. I agree Swansea isn't comparable to Cardiff as a shopping destination - Cardiff competes more with Bristol. I was just pointing out that Cardiff has its problems.”
by Glen Vowles, Margam
Saturday, September 19 2009, 12:25PM
“Swansea currently has 10% of stores standing empty.
Cardiff has 4% empty.
(source, British Property Federation )
Yesterday at least Cardiff was absolutely packed and when John Lewis opens at the end of the month it will only get busier and attract more shoppers from farther afield.
These days Cardiff as moved so far ahead of Swansea as a shopping destination it's pointless making comparisons.
Newport is probably a better comparison.”
by Stephen G, Swansea
Saturday, September 19 2009, 6:48AM
“Mike
"High rent low yield" doesn't add up!”
by Mike, Swansea
Friday, September 18 2009, 11:24PM
“People who don't understand that high rents deter tenants and low yield put off investors really should think twice before commenting. The truth about the state of Swansea's retail economy is there for all to see. Claiming that Cardiff is no better off is really quite pathetic given the circumstances.”
by James, Swansea
Friday, September 18 2009, 9:13PM
“Re:Mitch, Clydach
Stephen G, has elequently correctly answered your basic point jibe at us, and I can confirm what he says, as I was in Cardiff as recently as last week! Most shops I entered in Cardiff, were very quiet from a footfall perspective.
What hasn't been reported in our press, as far as i know anyway, that the B & M Group (who are based in Blackpool) are advertising for its Swansea branch staff!
I am quite sure once St Davids 2 is open for trading, its impact during the post Xmas period in Cardiff will see store closures, as even Cardiff shoppers have limited, Disposable incomes!”
by Stephen G, Swansea
Friday, September 18 2009, 4:55PM
“Mitch
There are quite a number of empty shops in Cardiff, as there are in other City Centres across UK. Plus David Morgan shut, at about the same time as David Evans in Swansea, and is now mostly apartments. I would guess that a number of units in St Davids2 will be taken by shops relocating from elsewhere in Cardiff and others are likely to go out of business, but that is progress.
Mike
What do you mean by "high rent, low yield"? High rents should attract developers surely?
I am sure you are right that Hammerson and Urban Splash will not be able to move quickly in current circumstances - like other property companies, they have suffered a lot in the current downturn. But, what else would you suggest?”
by Mitch, Clydach
Thursday, September 17 2009, 6:10PM
“Stephen G and James seem to missing a rather basic point, i.e. Cardiff may be having problems filling the new St Davids mall but no-one is talking about moving out - unlike Swansea.”
by Mike, Swansea
Thursday, September 17 2009, 6:05PM
“The fact that TK Maxx, Gap and others have opted to move out of the city centre will not be lost on the major investment bodies. Hammersons and Splash, who are both under-caplitalised companies will struggle to find anyone who will put money onto high rent, low yield developments which Swansea has to offer. Both firms are concentrating their efforts elsewhere and their plans for Swansea - which are largely modelled on the Sheffield scheme, except that it does not include 2000 additional car parking spaces - will not come to fruition for some considerable time. As it stands the trend to relocate to Parc Fforestfach, Morfa and possible the Enterprise Park will continue with so solutions from our civic leaders.”