ANOTHER high street retailer has announced it will be closing its town centre shop.

Signs have been placed on the door and windows of Shoe Zone in Christchurch Road, Boscombe saying it will be closing down soon.

The struggling firm, which closed its store in Wimborne Road, Winton about two years ago, recently posted a drop in profits before tax of around 40 per cent.

Revenue in 2024 was £161.3m (compared with £165.7m in 2023), representing a drop of 2.7 per cent.

(Image: Echo reader)

Shoe Zone insisted this was down to the "unseasonal weather in the second half of the year, particularly peak summer, as well as trading out of 26 fewer stores".

Profit before tax is expected to be not less than £9.6m this year, compared with £16.2m last year.

Charles Smith, Shoe Zone chairman, said: "A year of two halves, with the first half trading in line with expectations and ahead of the previous year, however, the second half trading was below expectations due to unseasonal weather conditions, particularly at peak summer, however, our key back to school period traded above expectations at the end of the year."

Shoe Zone has been approached for more details but didn't respond in time for publication.

The struggling firm has also ended the year with net cash of circa £3.7m (2023 has £16.4m).

Shoe Zone said: "The reduction in net cash balance was due to dividends paid of £8.0m, the continued investment in capital expenditure of gross £12.3m (FY2023: £11.4m), £9.4m of which was for the store refit and relocation programme, all of which being offset by cash generated from profitable operations."