Select Fashion is set to permanently close 23 of its stores this Saturday, marking a significant reduction in its presence on the UK high street as it nears the end of a difficult restructuring process. The women’s clothing retailer’s closure plan follows the shuttering of 12 stores on March 5, bringing the total number of closures to 35 locations.

The chain, which has been facing persistent challenges since entering administration in 2019, is owned by Turkish entrepreneur Cafer Mahiroğlu. Select’s struggles have been compounded by the ongoing issues affecting the retail sector, including the pressure of rising living costs and increased taxation. In its most recent financial statements, the company reported a pre-tax loss of £1.1 million for the year ending February 2023.

Select Fashion’s closure process has involved a Company Voluntary Arrangement (CVA), whereby the company attempted to renegotiate its debts while remaining operational. According to recent documents seen by the Sun, the restructuring firm Moorfields has been appointed to oversee a liquidation process, indicating that the company may not be able to repay its outstanding debts.

At its peak, Select operated 169 stores across the UK, celebrating its entry into the British fashion market in the 1980s. However, the recent closures reflect a broader trend in the retail sector, where over 13,000 shops ceased trading in 2024, marking a 28% increase from the previous year.

The stores that have already closed include locations in Ashton-under-Lyne, Chippenham, Crewe, and others. The 23 stores yet to close encompass various towns, including Accrington, Ashington, Birkenhead, and Bristol, among others. The impending closures have elicited feedback from local residents, with one Worksop local expressing disappointment that the town would lack a clothing shop following the recent shutdown.

As Select Fashion winds down its operations, it joins a list of other retailers that have struggled to survive amid the challenging economic landscape. Recently, rival brand Quiz announced the closure of 23 stores following its own financial difficulties. Prominent high street chains such as Homebase, Carpetright, and The Body Shop also faced significant challenges in 2024, culminating in administrations that resulted in widespread job losses.

Select Fashion’s situation exemplifies the turbulent state of retail in the UK, significantly affecting the high street fabric in communities across the country.

Source: Noah Wire Services