Patrick O'Donnell
Guest Reporter
Shoe Zone has confirmed it plans to close 20 or more of its stores across the UK to mitigate the impact of tax changes announced by Chancellor Rachel Reeves in the Autumn Budget. However, the company has not clarified which locations are at risk of being permanently shut down.
Earlier this week, the high street footwear retailer cited the looming hike to the National Insurance rate for employers, which is being raised from 13.8 per cent to 15 per cent, as to why store closures may be a necessity.
The Chancellor claims the tax increase is necessary to plug a £22billion "black hole" in the public finances but the move has been slammed as a "tax on jobs" by the business community.
This latest update from Shoe Zone comes amid the recent wave of store closures with 10,500 shops permanently closing last year alone, according to the Centre for Retail Research.
In its latest financial statement, the business admitted it was operating in "very challenging trading conditions" with the pending changes to National Insurance contributing to Shoe Zone's struggles.
Do you have a money story you’d like to share? Get in touch by emailing [email protected].
Here is a full list of Shoe Zone stores currently operating in the UK which are at risk of potential closure:
Following yesterday's base rate announcement, the Bank of England cited the Budget as contributing to a collapse in consumer confidence which had led to the economy taking a hit.
The central bank's Monetary Policy Committee (MPC) shared that it was "considering the impact on growth and inflationary pressures from the measures announced in the Autumn Budget".
Among the changes rolled out in Reeves's fiscal statement included an increase to the National Living Wage and an overhaul of the inheritance tax (IHT) regime, as well as the proposed National Insurance raid.
Committee members voted six to three for the country's interest rate to be held at its current level of 4.75 per cent in a blow to mortgage holders and debt borrowers. The Chancellor defended her fiscal agenda following the Bank's decision.
She explained: "I know families are still struggling with high costs. We want to put more money in the pockets of working people, but that is only possible if inflation is stable and I fully back the Bank of England to achieve that.
"Improving living standards across the country is our number one focus, and is why I chose to protect working people’s pay slips from tax rises, froze fuel duty and increased the National Living Wage for three million people."
LATEST DEVELOPMENTS:
In its latest financial update, Shoe Zone stated: "Consumer confidence has weakened further following the Government’s Budget in October 2024, and as a result of this Budget, the Company will also incur significant additional costs due to the increases in National Living Wage and National Insurance.
"These additional costs have resulted in the planned closure of a number of stores that have now become unviable. The combination of the above will have a significant impact on our full-year figures."
For the year to September 27, 2025, the high street staple projects profits will be "not less than" £5million which would be half than the £10million previously forecast by the firm.
Across its wider portfolio, Shoe Zone is made up of 112 high street stores and 185 larger format stores. The shoe store sells brands such as Skechers, Hush Puppies, Rieker and Lilly & Skinner.
Find Out More...
Earlier this week, the high street footwear retailer cited the looming hike to the National Insurance rate for employers, which is being raised from 13.8 per cent to 15 per cent, as to why store closures may be a necessity.
The Chancellor claims the tax increase is necessary to plug a £22billion "black hole" in the public finances but the move has been slammed as a "tax on jobs" by the business community.
This latest update from Shoe Zone comes amid the recent wave of store closures with 10,500 shops permanently closing last year alone, according to the Centre for Retail Research.
In its latest financial statement, the business admitted it was operating in "very challenging trading conditions" with the pending changes to National Insurance contributing to Shoe Zone's struggles.
Do you have a money story you’d like to share? Get in touch by emailing [email protected].
Here is a full list of Shoe Zone stores currently operating in the UK which are at risk of potential closure:
- Acocks Green
- Andover
- Arnold
- Ashford
- Ashington
- Ashton Under Lyne
- Aylesbury
- Banbury
- Banbury BB
- Barking
- Barnsley
- Barnstaple BB
- Barry
- Basildon
- Beaumont Leys
- Bedford
- Beverley
- Bexhill
- Bexleyheath
- Bilston
- Birkenhead
- Birmingham
- Bishop Auckland
- Bitterne
- Blackburn
- Blackpool
- Blackwood
- Bognor Regis
- Bolton
- Bootle
- Boscombe
- Boston
- Bradford
- Bradford Asda
- Braintree
- Bransholme
- Bridgend
- Bridgwater BB
- Bridlington
- Bristol
- Bulwell
- Burgess Hill
- Burnham
- Burnley
- Burscough BB
- Burton On Trent
- Bury
- Bury St Edmunds
- Caerphilly
- Cannock
- Cape Hill
- Cardiff BB
- Carlisle
- Carmarthen
- Catterick BB
- Chatham
- Chelmsley Wood
- Cheltenham
- Chesterfield
- Chippenham
- Chorley
- Clacton
- Clydebank
- Coalville
- Colchester
- Congleton BB
- Corby
- Coventry
- Coventry Arena
- Cowley BB
- Cramlington BB
- Crawley
- Crewe BB
- Cross Hands BB
- Croydon
- Crystal Peaks
- Cwmbran
- Dagenham
- Darlington
- Dartford
- Derby
- Dereham
- Dewsbury
- Didcot
- Doncaster
- Dorchester
- Dover BB
- Dudley
- Dundee
- Dunstable
- East Beckton
- East Ham
- Eastbourne
- Eastleigh
- Edgware
- Ellesmere Port
- Erdington
- Exeter
- Exmouth
- Falkirk
- Fareham
- Farnborough
- Felixstowe
- Folkestone
- Gainsborough BB
- Gillingham
- Glenrothes
- Gloucester BB
- Grantham
- Gravesend
- Grays
- Grimsby
- Hackney
- Halifax
- Hanley
- Harlow
- Harrow
- Hartlepool
- Hastings
- Hayes
- Heanor BB
- Hemel
- Hempstead
- Hereford
- Herne Bay
- High Wycombe
- Hinckley
- Holloway
- Hounslow
- Huddersfield
- HullHull BB
- Huntingdon
- IlfordI
- lkeston
- Ipswich
- Jersey
- Keighley
- Kettering
- Kidderminster
- Kilburn
- Kings Heath
- Kings Lynn
- Kingswood
- Kirkstall BB
- Lancaster
- Launceston BB
- Leamington Spa
- Leeds
- Leicester
- Leigh
- Letchworth
- Lewisham
- Lincoln
- Lincoln BB
- Livingston
- Llandudno
- Llanelli
- Longsight
- Longton BB
- Loughborough
- Louth
- Lower Earley
- Lowestoft
- Luton
- Maidstone
- Maldon BB
- Malvern BB
- Manchester
- Mansfield BB
- Market Harborough
- Martlesham BB
- Meadowhall
- Merry Hill
- Merthyr Tydfil
- Metro Centre
- Middlesbrough
- Middlesbrough BB
- Middleton
- Neath
- New Malden
- Newbury
- Newcastle-on-Tyne
- Newcastle-u-Lyme
- Newport
- Newport I.O.W
- Newton Abbot
- Northampton
- Northfield
- Norton BB
- Norwich
- Nuneaton
- Oldbury BB
- Oldham
- Oldham BB
- Orpington
- Oswestry
- Paignton
- Parkhead
- Peckham
- Perry Barr
- Peterborough BB
- Peterhead
- Plymouth
- Pontefract
- Pontypridd
- Poole
- Poplar
- Port Talbot
- Preston
- Reading
- Redcar
- Redditch
- Redhill
- Rhyl
- Rochdale
- Romford
- Rugby
- Salisbury
- Scarborough
- Scunthorpe BB
- Selby
- Selly Oak BB
- Sheffield
- Shirley
- Shirley Birmingham
- Shrewsbury
- Sittingbourne
- Skegness
- Slough
- South Shields
- Southampton BB
- Southend
- Southport BB
- Spalding BB
- St Helens
- St Helens BB
- Staines
- Stevenage
- Stockport
- Stockton-on-Tees
- Stratford
- Stratford Upon Avon BB
- Stretford
- Sunderland
- Sutton
- Sutton In Ashfield
- Swansea
- Swindon
- Tamworth
- Taunton
- Telford
- Telford BB
- Thanet BB
- Thetford BB
- Thornton Heath
- Tonbridge
- Tooting
- Torquay
- Trowbridge
- Truro
- Tunstall
- Uttoxeter BB
- Uxbridge
- Wakefield
- Walsall
- Waltham Cross
- Walthamstow
- Warrington
- Washington
- Watford Asda
- Wellingborough
- Wembley
- West Bromwich
- Weston Favell
- Weston-Super-Mare
- Weymouth
- Whitehaven BB
- Wigan
- Wisbech BB
- Witney
- Wolverhampton
- Wood Green
- Woolwich
- Worcester
- Workington
- Worksop
- Worthing
- Wrexham
- Yardley BB
- Yarmouth
- Yarmouth BB
- Yate
- Yeovil
- York BB.
Following yesterday's base rate announcement, the Bank of England cited the Budget as contributing to a collapse in consumer confidence which had led to the economy taking a hit.
The central bank's Monetary Policy Committee (MPC) shared that it was "considering the impact on growth and inflationary pressures from the measures announced in the Autumn Budget".
Among the changes rolled out in Reeves's fiscal statement included an increase to the National Living Wage and an overhaul of the inheritance tax (IHT) regime, as well as the proposed National Insurance raid.
Committee members voted six to three for the country's interest rate to be held at its current level of 4.75 per cent in a blow to mortgage holders and debt borrowers. The Chancellor defended her fiscal agenda following the Bank's decision.
She explained: "I know families are still struggling with high costs. We want to put more money in the pockets of working people, but that is only possible if inflation is stable and I fully back the Bank of England to achieve that.
"Improving living standards across the country is our number one focus, and is why I chose to protect working people’s pay slips from tax rises, froze fuel duty and increased the National Living Wage for three million people."
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In its latest financial update, Shoe Zone stated: "Consumer confidence has weakened further following the Government’s Budget in October 2024, and as a result of this Budget, the Company will also incur significant additional costs due to the increases in National Living Wage and National Insurance.
"These additional costs have resulted in the planned closure of a number of stores that have now become unviable. The combination of the above will have a significant impact on our full-year figures."
For the year to September 27, 2025, the high street staple projects profits will be "not less than" £5million which would be half than the £10million previously forecast by the firm.
Across its wider portfolio, Shoe Zone is made up of 112 high street stores and 185 larger format stores. The shoe store sells brands such as Skechers, Hush Puppies, Rieker and Lilly & Skinner.
Find Out More...