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  "path": "/money/store-closures-kitchen-retailer-magnet-list",
  "publishedAt": "2026-06-30T14:23:56.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Store closures alert: Full list of Morrisons shops closing with 100 set to shut down",
    "UK fashion brand to close final stores this week as it quits the high street",
    "Store closures alert: Full list of Greggs sites shut down due to heatwave",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nAnother beloved retailer is preparing to leave the high street, announcing plans to close multiple stores in the weeks and months ahead.\n\nKitchen retailer Magnet has announced plans to shut 15 of its stores that are failing to perform as part of a significant business restructuring.\n\n###\n\n\n\n\nThe business is pursuing a company voluntary arrangement (CVA) to help stabilise its financial position, with the proposed CVA specifically targeting property expenses that have become economically unviable.\n\nMagnet stated that the closures form part of efforts to secure the group's long-term finances, with the restructuring designed to tackle rental and property obligations that the business can no longer sustain at current levels.\n\n###\n\n\n\n\n###\n\n\n\n\nThe vast majority of Magnet's 159 retail locations will remain unaffected by the restructuring and continue trading normally.\n\nWhile the company has not revealed the number of employees who will lose their positions, it confirmed that impacted workers will receive support throughout the process, with alternative positions within the organisation made available where feasible.\n\nThe CVA proposals require approval from creditors before they can proceed.\n\nThree professionals from advisory firm Interpath, Natasha Harbinson, Will Wright and Chris Pole, have been appointed to oversee the restructuring process and guide the company through the arrangement.\n\n###\n\n\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Store closures alert: Full list of Morrisons shops closing with 100 set to shut down\n  * UK fashion brand to close final stores this week as it quits the high street\n  * Store closures alert: Full list of Greggs sites shut down due to heatwave\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nSophie Rose, chief executive of Magnet Group, acknowledged the gravity of the situation, said: \"This is a difficult decision and not one we have taken lightly, particularly where colleagues may be impacted.\"\n\nShe emphasised that acting now represents the correct course for the company's future.\n\nMs Rose added: \"It allows us to deal with property costs that are no longer sustainable and protect the stronger parts of our estate.\"\n\nThe chief executive expressed confidence that the proposals would enable Magnet Group to develop into a more robust operation, better positioned to serve its customers, support business partners and achieve sustainable profitability going forward.\n\n###\n\n\n\n\n###\n\n\n\n\nHere is a full list of the Magnet stores set to close in the near future:\n\n  * Andover, Hampshire\n  * Birmingham Minworth, West Midlands\n  * Blackburn, Lancashire\n  * Bridgwater, Somerset\n  * Brighton, East Sussex\n  * Colwyn Bay, Wales\n  * Dorking, Surrey\n  * Farnborough, Hampshire\n  * Ramsgate, Kent\n  * Romford Trade, Greater London\n  * Stirling, Scotland\n  * Stockton, County Durham\n  * Watford, Hertfordshire\n  * Weymouth, Dorset\n  * York Trade, North Yorkshire\n\n\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Beloved UK kitchen retailer to close multiple stores in blow to high street - full list here"
}