That’s Entertainment, the high street presence of online music retailer Music Magpie will be no more with the announcement that the company is considering closing all of its stores as part of restructuring plans.
Owner musicMagpie, says it is reviewing the future of all its That’s Entertainment high street stores due falling sales making the stores expensive to run.
The Swindon store at The Brunel Shopping Centre has already started to advertise a closing down sale and appears to be the first to close.
In a statement, the firm said: “It has always been the case that online sales have driven the performance of the business, and this is very much a continuing trend as the business moves forward, both in the UK and in the US.”
But it added: “However, due to the market pressures that have been widely reported in recent times, offline channels and namely the UK High Street has become an increasingly tough environment to operate from and in recent years there has been several high-profile casualties.
“Regular reviews are conducted in the business which look at the performance of each product category, territory and sales channel of the business and whilst online sales and our wholesale sales channels into both the UK and across the world have continued to grow, media sales through the retail estate have declined by circa 20% in the last year meaning the sizeable fixed cost base that comes with running a retail estate is something that is becoming increasingly difficult for the business to absorb.
