British shoe brand Clarks is planning to permanently close some of its stores as the footwear retailer has struggled to deliver a turnaround plan and has consequently made the decision not to reopen a small number of its 347 UK store estate once the government-mandated lockdown ends.

Clarks had appointed investment bank Rothschild to manage the business financing options, as well as access new borrowing facilities. The retailer has furloughed thousands of its store staff under the government’s Coronavirus Job Retention Scheme, and is currently assessing options for the remainder of its workforce.

Clarks has been working with the management consultant McKinsey on a new corporate blueprint. However, the footwear retailer is now prioritising how best to survive during the pandemic. It is reviewing all stores to ensure that they are the right size and located in the right areas. As a part of this review, he retailer decided not to renew the leases on a small number of stores.