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Retail & Consumer

Coronavirus: B&M Bargains to close 49 stores due to 'current trading conditions' but will give staff a pay rise

Discount shopping giant to review situation on an 'on-going basis'

A B&M store(Image: Newcastle Chronicle)

Bargain retail giant B&M has announced it will temporarily close 49 stores as the º£½ÇÊÓÆµ continues to battle the coronavirus crisis.

The Liverpool-based company issued a Covid-19 update on Wednesday saying the decision has been made "in light of current trading conditions", and that the shops are "small format stores", in some cases in shopping centres that have closed.

42 of the 49 stores are close to other larger B&Ms, the firm said, adding that it will review the situation on an "on-going basis".

B&M hopes to reopen the stores "as soon as normal shopping patterns resume".

It's not yet know which sites are affected by the announcement.

Home Bargains, Speke Boulevard

A statement from B&M said: "We are grateful to our committed and hard-working colleagues for their remarkable effort and dedication in our stores and supply chain functions in helping customers at this very challenging time.

"The rest of our store estate in the º£½ÇÊÓÆµ continues to trade in line with Government guidance. The temporarily closed stores represent 3% and 2% of FY20 revenue and store contribution respectively.

"Colleagues at the affected stores in the º£½ÇÊÓÆµ have been furloughed under the Government's Coronavirus Job Retention Scheme."