High street franchise WH Smith Local in Dereham announced today it would be closing its doors for good. The business has stopped trading after experiencing difficult conditions since opening in November 2017. The franchise was owned and operated by the Stow family who moved to Norfolk from Kent to open the store.
Tony Harrison, insolvency practitioner at McTear Williams & Wood Limited said: "The partners have invested heavily in the business and had ambitious plans but in the end were unable to generate sufficient sales and decided to call it a day."
The closure comes as new research reveals that nearly one in 20 stores in Norfolk are predicted to close within the next four years, prompting fears of a high street crisis. At the end of April owner Phil Stow described the prospect of the business closing as "heartbreaking". He added: "It feels like there is a bit of a negative vibe towards us because we are not from Norfolk."
1 June 2018