Huge fashion chain is closing store next month after it already shut 33 locations in major restructuring

A MAJOR high street fashion chain has revealed it is closing one of its stores next month. River Island‘s store on Oxford Street in Swansea will be shutting for good on Saturday, September 12. A sign on the shop window reads: “This store is closing, Saturday 12th September. “Thanks for shopping with us – we’ve had a blast! You can still shop the latest trends at riverisland. com and nearby locations. With love, RI x.” Sign up for the Money newsletter Thank you! A closing down sale is under way currently, with deals of up to 30% off so far. It’s not clear how many jobs have been affected. Read more on store closures Locals complained about the closure online, saying they expected it to be replaced with “another vape shop”. “This is crazy!!! Another shop gone. What will there be to buy clothes in town,” one person wrote. Another said: “There’ll be no proper shops left soon then!?!” Earlier this year, the M&S flagship store on Swansea’s Oxford Street also closed down after 69 years. Most read in Money The River Island Swansea store had been put at risk last year after the fashion retailer announced a major restructuring strategy. The plan involved closing 33 stores and asking for rent reductions across 71 more. The Swansea store had been part of the rent reduction strategy. River Island warned last year it could run out of money without the plan, after a £33.2million loss in 2023. It managed to unlock a £40million loan from the founding Lewis family when creditors backed the restructuring plan. River Island chief executive Ben Lewis said at the time: “We have a clear transformation strategy to ensure the long-term viability of the business, and this decision gives us a strong platform to deliver this. “Recent improvements in our fashion offer and shopping experience are starting to show results, and the restructuring plan will enable us to align our store estate to our customers’ needs.” Comment now