// TK Maxx the latest major retailer to shutter UK store estate amid coronavirus outbreak
// 349 stores will close as of tomorrow until further notice
// Stablemate Homesense will also close its 78 stores
TK Maxx has become the latest retailer to reportedly take the decision to close down its UK store estate as the coronavirus crisis shows no signs of an end date any time soon.
According to Retail Week, TK Maxx’s 349 stores are due to close until further notice once trading ends today.
Stablemate Homesense’s 78 stores across the UK and Ireland are also set to be temporarily closed.
READ MORE:
- Coronavirus: Clarks, Sweaty Betty, Oxfam, Fenwick the latest to close stores
- Burberry feels the coronavirus bite as majority of its stores close
- Coronavirus: Selfridges closes UK stores; Harrods reduces opening hours
Retail Gazette has contacted TK Maxx for further details, including whether staff will be paid during the closure period.
TK Maxx, which posted record full-year sales last month, has 672 stores across Europe.
The discount fashion retailer, owned by TJX Companies in the US, has already closed its stores in Germany, Poland, Austria and The Netherlands.
Nonetheless, TK Maxx is not alone in announcing store closures when a government-mandated lockdown is not in place like in neighbouring European countries.
Clarks, one of the biggest privately-owned retail businesses in the UK, is also the first major British retailer to have announced store closures due to the coronavirus pandemic.
Fenwick also said it would close all stores until further notice due to coronavirus, following the footsteps of rival department store Selfridges which announced store closures yesterday.
Activewear retailer Sweaty Betty said it would closing all of its stores internationally, including its 50 in the UK, and Oxfam is closing its 600-plus high street charity shops until further notice.
Other retailers that have announced temporary store closures include Boden, Nike and Calvin Klein.
Meanwhile, Apple said it would close all of its stores outside of China until further notice.
Click here to sign up to Retail Gazette’s free daily email newsletter
