Reports today suggest that John Lewis are considering closing up to 8 of its 42 stores due to the effects of the Covid pandemic.
Not even 156 years of trading can escape the financial burden that Covid is having on businesses throughout the world.
The online world of buying had already made times extremely tough for John Lewis so pressures were already mounting before the pandemic even began. Another 8 store closures would add to the previous 8 they announced closure of last year ago after the group slashed the value of its bricks-and-mortar shops by £470m – which pushed the company to a huge £635m half-year loss.
The aim now is for John Lewis to negotiate with its landlords to see if they can save some of the stores. If negotiations fail, then stores will inevitably be closing, meaning huge job losses for thousands.
On 21st January 2021, head office, based in London, announced a 1500 job cut in an effort to save costs.
With the loss of many major outlets in Milton Keynes already, can the MK store be saved from the cull?
Let's hope so.