Beaverbrooks has announced the closure of seven stores across the UK, citing commercial viability concerns. The closures will take place between March and April 2025, following a business performance review.
Store Closures and Timeline
Beaverbrooks, which operates 89 stores across the UK, will reduce its store count to 82. The affected stores include five in England and two in Scotland.
The scheduled closure dates are as follows:
Scotland:
- East Kilbride – 16 March
- Dundee – 16 March
England:
- Birmingham Fort – 23 March
- High Wycombe – 23 March
- Huddersfield – 5 April
- Croydon – 6 April
- Sutton Coldfield – 6 April
Company Performance and Strategic Decisions
Beaverbrooks reported a turnover of £228.6 million for the financial year ending February 2024, with operating profit declining to £10.5 million due to increased costs and ongoing investment.
Managing Director Anna Blackburn commented on the closures, stating:
“At Beaverbrooks, we pride ourselves on our people-first culture and open, honest relationships with our colleagues. Our directors delivered the news in person to each team member. We aim to retain as many colleagues as possible within other Beaverbrooks stores or the wider business, and are working closely with each individual affected to provide them with other options for their specific needs, supporting them with their next steps whatever they may be.”
The company plans to open a new store in Harrogate and refurbish some of its existing locations.
Market Conditions and Industry Trends
The closures reflect broader challenges in the retail sector, including rising costs and changes in consumer behaviour.
Online shopping continues to impact physical retail. ONS data shows online sales made up 27% of UK retail transactions in 2022, up from 5% in 2008. Many jewellery retailers are adjusting their store strategies in response.
Beaverbrooks is a family-owned business led by the third and fourth generations of the Adlestone family. Chairman Mark Adlestone OBE noted the company’s continued charitable contributions, stating:
“As a family-owned business, enriching lives and making positive changes to the world is in our DNA, and this is reflected in every decision we make as a company. I am very proud that we have been able to donate over £2.34 million of profits to charities during these uncertain times, when they need it most.”
