Thorntons to close 180 stores

Chocolate company Thorntons plans to close 180 shops in the next three years – almost half its UK own stores.

Announcing the findings of a wide-ranging strategic review, the chocolatier currently runs 364 own stores with 227 other sites run on a franchise basis and online service Thorntons Direct will be more closely aligned with the own-store offer. In total, around 4,000 staff are employed at the stores. The firm has issued four profit warnings in the past year and explains that the closures are about the significant changes in customer spending habits and shopping habits, exacerbated by the economy.

Chief executive Jonathan Hart adds, “Our goal is to refocus the business across all channels and seek to deliver industry-competitive returns over the next three to five years. Although we see the prospect of weakness in high street footfall and consumer sentiment continuing, I am confident this strategy is right.”