THE Mansfield branch of Republic could close after the fashion chain became the latest big High Street name to collapse into administration.
The news comes as another blow to the local economy following a long list of retail failures since Christmas with Jessops, HMV and Blockbuster all hitting financial problems this year.
Republic, which is based in the Four Seasons Shopping Centre, is one of 121 stores across the UK is facing closure.
It appointed Ernst & Young as its administrator and Andy Bond, the former chief executive of ASDA, resigned as Republic’s chairman last week.
DVD and video games rental store Blockbuster, which is based on Portland Retail Park, remains open but administrators Deloitte confirmed that it is closing an additional 164 stores in the coming weeks.
Chad spoke to several shoppers in Mansfield yesterday and asked them what they thought about the current state of the High Street and what more needs to be done to promote small businesses in the area.
Matthew Ashford, of Mansfield Woodhouse, said it is sad to see so many shops closing in the town centre.
“It’s not nice seeing shops boarded up and the people I really feel for are the staff who are losing their jobs at a time when there’s not a lot of opportunities around,” he said.
Paula Manning, of Clipstone, said: “Pretty soon there will be no shops left on the High Street.
“Some people prefer online shopping but I prefer to see what I’m getting for my money.”
Lee Manning, joint administrator at Deloitte, said: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the company for sale.
“We’d like to thank the company’s employees for their support and professionalism during this difficult time.”