Iceland to close more stores amid high energy costs and double-digit inflation

Iceland is set to close more stores in coming weeks as it struggles with high energy costs and double-digit inflation.

According to reporting by The Sun, the frozen food retailer has confirmed it will be closing two stores this year, including Flint, Wales on 27 May and Beccles, Suffolk on 17 June.

This follows on from closures earlier this year at its Bromsgrove, Basingstoke, Rhyl, Bedminster and Bangor branches, as well as an additional three in Newport, Berwick and Hexam on 22 April.

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Despite these sites being shut down, Iceland opened 24 new stores within the previous financial year and has rolled out around 200 in the past 10 years.

However, last September Iceland managing director, Richard Walker also put a halt on any planned store openings as its energy bill at the time hit a £20 million increase.

“We continually review the retail experience offered to our customers and have always made a small number of store closures every year, as local shopping patterns change and shop leases expire,” Iceland said in a statement.

“The business is currently trading very strongly, achieving record market shares.”

This news comes as Iceland launched a new ‘Local’ convenience store format last week, which is owned and managed by forecourt operator, SGN Retail.

The site, which opened on a Texaco garage forecourt in Fallings Park, Wolverhampton, also features a Costcutter.



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