Boston firm Oldrids and Downtown have announced they could be set to close their Lincoln and Gainsborough stores.
Bosses of the company, which employs more than 900 people across seven stores, announced today (Friday) that they have given notice on leases for the stores, blaming the ‘tough trading conditions’ and that the company ‘does not hold the freehold’ of the properties.
Despite the unquestionable commitment and effort that the staff across both stores have made over the last four years we are sadly left with no alternative but to take this difficult decision.Marcus Meadows, retail operations director
They said the move will allow them to concentrate on their stores in Boston, Grantham and Scunthorpe, adding that it will ‘protect their future and the jobs of the people who work within them’.
Retail operations director Marcus Meadows said: “Despite the unquestionable commitment and effort that the staff across both stores have made over the last four years we are sadly left with no alternative but to take this difficult decision.
“We would like to thank all of our employees for their continuing hard work and dedication across all Oldrids & Downtown stores.”
A statement from the company said the staff at both stores would be taken through a consultation process.
It said: “Oldrids & Downtown will continue to investigate all of the options available to them during the notice period in order to continue to trade from the stores, and to secure the jobs of their employees.”
They added: “Oldrids & Downtown are keen to reassure all of its Lincoln and Gainsborough customers that their statutory rights will not be affected in any way and all existing orders and any aftersales service will be handled through the remaining stores should the two stores ultimately close.”
Given the lengthy notice periods this means that the company may vacate the Lincoln store and cease trading in July 2017, and the Gainsborough store in January 2018.