After 100 years of fine chocolate making, it seems that Thorntons, MadBid.com’s favourite chocolatiers are now closing up to 180 of their high street stores. Reading an online news piece left us somewhat bewildered: what happened in order for one of the U.K’s most popular chocolate brands to decide to close its doors on us?
In recession-recovery Britain, many household names and brands have gone under the chop as businesses struggle to generate the revenue they need to be able to keep afloat. This is not new news but old, serving as a reminder that we are still emerging from an economic crisis that has endured for much longer than anticipated. The closure of these shops is somewhat untimely: well-known clothing chain Jane Norman collapsed this week, while Oddbins recently suffered a loss of 52 shops and now Mothercare is the latest to be affected as it looks to close up to 110 of its stores.
Back in 2008, Woolworths was one of the first big High Street names to be hit by the recession, even after achieving a long successful track record as a retailer when it first opened its doors in Liverpool in 1909. JJB Sports, founded in 1971 by ex-footballer Dave Whelan narrowly avoided administration but has had to close stores. Now in the summer of 2011 as we prepare to take time off work and book last minute holidays, our beloved chocolate company is much more concerned about an economic meltdown than their chocolates melting in the heat.. Worse yet, the closure of its stores is predicted to set the business back £4.2m to £4.8m in sterling.
It may be unfortunate, but it is also far from surprising. Nowadays we are much more likely to favour comfort and convenience by staying within the confines of our homes than to make a trip to the shops, especially with the unpredictable British weather. Online shopping has become a huge market, which many brands have broken into in their attempts to ride the huge tidal wave that is E-commerce. Whether or not Thorntons are seeking to jump solely on this band wagon to pursue their business further is another matter, but the CEO of Thorntons reassures us of the following:
‘Our goal is to refocus the business across all channels and seek to deliver industry competitive returns over the next three to five years.’
Whatever the outcome MadBid will continue to source delicious chocolates for our customers to bid on for every occasion. And while we’re on the subject of delicious check out some of our Gourmet Voucher Restaurant Discount Cards going at amazing deals to treat yourself and a friend to dinner and desert out!