Historic 112-year-old UK department store closes for good as 'old-fashioned' business leaves high street

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Store closures are ramping up, with 112-year-old retailers being forced to shut down for good

A historic 112-year-old department store has closed for good, in another blow to Britain's beleaguered high streets.

Hancock & Wood, one of Cheshire's longest-standing independent department stores, closed its doors for the final time yesterday after more than a century of continuous trading.

The Warrington retailer, which had served the local community since Frederick Hancock established the business on Bridge Street in 1914, ceased operations on Saturday, August 15.

Notably, the store had remained at its original Bridge Street location throughout its entire 112-year history.

Earlier this year, the owners confirmed that mounting financial pressures would force them to stop trading, bringing to an end one of the area's most enduring retail institutions.

A spokesperson for the business told the Warrington Guardian: "As you will imagine this is something that has not been taken lightly."

According to Hancock & Wood's owners, they had been left without viable options in the face of escalating costs and regulatory demands.

The representative added: "However, the ever increasing burden of employment costs, public utilities, business rates not to mention the sheer amount of legislation that has to be navigated has left us with little room for manoeuvre and we now feel it is the time to bow out."

Furthermore, the combination of soaring overheads and an increasingly complex regulatory environment ultimately proved insurmountable for the independent retailer.

The store had built a loyal following over the decades for its range of womenswear, shoes, accessories and beauty products.

Hancock & Wood had earned a reputation for delivering what shoppers described as "good old fashioned service," with its "pleasant staff" frequently singled out for praise.

Store closures have become the norm in recent years following the Covid-19 pandemic, with major brands leaving the high street for good.

Molly Monks, an insolvency specialist at Parker Walsh, said: "The transformation of retail was already underway but the cost of living crisis has dramatically accelerated the closure of stores that might otherwise have survived another few years.

"Discretionary spending has collapsed in many categories and footfall on high streets outside major city centres remains stubbornly below pre-pandemic levels.

"Meanwhile, business rates continue to penalise physical retail in a way that online competitors simply do not face, an imbalance that the government has failed to correct.

"Wage bill increases flowing from the new National Living Rate and higher employer National Insurance have been the final blow for many. The sad reality is this pipeline of closures is far from over."