Bristol, the shoe and clothing chain formerly known as Shoe Post and Shoe Discount, has kicked off a clearance sale at its Deurne store on Keesinglaan. The items are priced at 1, 3, or 5 euros. The company is facing financial difficulties and has put its 117 Belgian stores up for sale.
Lore Vanaudenhouve, Bristol’s marketing director, stated that the Deurne store is the first to start the clearance sale. There is still a significant amount of clothing in the store that must be sold at discounted prices. Once everything is sold, the store will close. Other Flemish stores are currently being restocked from the distribution center in Beringen, with discounts of up to seventy percent being offered.
Negotiations with potential buyers for Bristol stores are ongoing, with updates expected by early August. The company faced challenges during the coronavirus pandemic, with store closures, increased rent and energy costs, and a struggling economy. Additionally, the poor weather impacted sales of spring and summer items. Gino Van Ossel, an expert from Vlerick Business School, highlighted that Bristol lacks the scale enjoyed by competitors like Van Haren. This makes it difficult for Bristol to secure competitive discounts from suppliers.
Bristol’s clearance sale marks a new chapter in its ongoing efforts to turn around its financial situation. With reduced foot traffic due to lockdown restrictions and changing consumer behavior towards online shopping, many retailers have struggled during this period. However, some retailers have adapted quickly to these changes by offering innovative solutions such as curbside pickup or virtual try-on services.
As Bristol continues to search for a buyer while also trying to sell off its inventory through clearance sales, it remains uncertain what its future holds beyond this point in time.
In conclusion, Bristol’s clearance sale signifies both an opportunity for liquidation and a chance for renewal for this struggling retailer. While facing financial difficulties and competition from larger retailers like Van Haren that enjoy greater scale discounts from suppliers,
Bristol must find ways to remain competitive in today’s rapidly changing retail landscape.
