Discount chain B&M is temporarily closing 49 of its 656 of stores in response to the coronavirus outbreak.
The retailer said it was responding to current trading conditions with it closing smaller format stores that are near to other larger B&Ms. Some stores are also closing as they are located in shopping centres impacted by the coronavirus lockdown.
The mothballed stores represent around 3% of the company’s annual revenue.
The company said employees at the affected stores have been furloughed, while other store and distribution staff will be paid an extra 10% to reflect the additional workload resulting from the government’s social distancing guidelines.
All its Heron Foods stores in the UK will continue to trade, although its 101 stores in France under the Babou and B&M fascias are currently closed due to government restrictions.
Earlier this week, Poundland announced it was temporarily closing 100 of its 800 stores in response to the crisis.
While the government has ordered non-essential shops to close, discount variety chains such as B&M, Poundland, Wilko and Home Bargain have been able to keep trading because they sell groceries and household products.
NAM Implications:
- In the current unprecedented times…
- Pragmatism rules, ok?
- A pointer for all…
