Oldrids & Downtown is set to close its store in Gainsborough.
The company issued a statement today (Friday, February 17) announcing the decision to not renew the lease on the shop in Market Place, Gainsborough.
A statement from the store said: “The decision has been taken reluctantly given the current tough trading conditions and the fact the company does not own the freehold to these properties. The staff at both stores will be taken through a consultation process.
“Oldrids & Downtown will continue to investigate all of the options available to them during the notice period in order to continue to trade from the stores, and to secure the jobs of their employees.
“Oldrids & Downtown currently employs more than 900 people in Lincolnshire across seven stores. The potential closure of these two loss-making stores will allow the company to concentrate on its five remaining stores in Boston, Grantham and Scunthorpe, protecting their future and the jobs of the people who work within them.
“Oldrids & Downtown are keen to reassure all of its Lincoln and Gainsborough customers that their statutory rights will not be affected in any way and all existing orders and any aftersales service will be handled through the remaining stores should the two stores ultimately close.”
The lease of the Gainsborough premises runs out in January 2018.
Retail Operations Director, Marcus Meadows, said: “Despite the unquestionable commitment and effort that the staff across both stores have made over the last four years we are sadly left with no alternative but to take this difficult decision.
“We would like to thank all of our employees for their continuing hard work and dedication across all Oldrids & Downtown stores.”
Leader of Gainsborough Town Council, Councillor Matt Boles, said: “The news about the potential closure of Oldrids in Gainsborough is deeply worrying and just another hammer blow to the town centre.
“At a time when the town centre is already in such decline this news is a really body blow and to the town and the other traders. To lose a retailer and building of this size will be massively felt.
“At a time when there is so much positivity surrounding the Sun Inn developments and work between West Lindsey District Council and Dransfield it just feels that when the town takes a step forward we then get pushed two steps back.
“I would urge all parties to come together and see if a solution can be found and all work together for the sake of Gainsborough.”