Starbucks leaves Yate
YATE’S Starbucks cafe has closed after a review of the business.
The coffee shop, part of the US-based global chain of 30,000 cafes, stood opposite the longer-established Boswell’s in Yate Shopping Centre.
Starbucks said reviews frequently take place to ensure “healthy business growth” across its stores.
Yate Shopping Centre Manager Andrew Lowrey said: “Unfortunately Starbucks have advised us that they wish to close their café at Yate and we believe that the company are closing a number of stores nationally.
“The shopping centre’s letting agents are marketing the unit and working hard to attract new retailers to the town.”
A recent article in Retail Sector magazine highlighted that the US based company is increasing its store closures in America to 150 a year, up from just 50, because of weak sales forecasts and a falling share price. But a spokesperson told the magazine that the move did not affect stores in the UK.
Boswells is a smaller, UK based company, with most of its 17 branches in the West and South of England.
A spokesperson for Starbucks said: “We constantly review our store portfolio to ensure each of our stores contributes to a healthy business growth and can confirm that our store at Yate Shopping Centre has closed.
“We are proud of the teams’ involvement in the local community and grateful to all of our customers in the area for their loyalty over the years.”
Mr Lowrey said there were a number of retailers which had recently signed new leases committing to Yate for a “longer term”, although he was unable to publicly reveal which ones had committed.