THE managing director of a longstanding furniture store in Colchester says it’s “business as usual” after making the difficult decision to close its budget store.
Robert London, 55, of Peldon, is the managing director of the family-run Hatfields Furniture and Interiors which has two stores in Peartree Road, Stanway.
The business will close its budget store by the end of September and will start a clearance event later next week.
Mr London has cited a number of factors for the decision, one being a lack of government support for independent businesses and the current economic climate as one of the reasons for the closure.
He said: “Since we opened it 16 years ago, the world has changed.
"The internet has grown much stronger - it became much stronger during the Covid period.
“The cost of running a business has changed dramatically over the last two to three years.
“The government has made changes which affect companies.
“Supplier and tax increases, living wage increase, NI contribution, business rates, cost increases against a very flat marketplace.
"We’re led by the housing market and if that goes flat, people aren’t moving, and people aren’t spending as much as they used to on home furnishings.
“It was a tough decision, and a lot of thought went into it, but we have to be mindful of the current climate and no end in sight to the economic slowdown.
“I think a lot of businesses are feeling this way.
“Orders placed in the budget store will continue on as normal, and they have always been processed through our main store where all the admin is.
“It’s business as usual, there is nothing for existing customers to be worried about with the orders."
Mr London also said the lease is coming up for a renewal, with a potential rent increase.
The closure will allow the team to focus on the main store business and “being sharper" for years to come.
Later this year, Hatfields will celebrate its 140th anniversary.
It’s something Mr London and the team are looking forward to, and they plan to celebrate the milestone in autumn.
He says the business has continued to prosper as its “family ethos" has been passed from generation to generation.
“It’s been instilled and then passed on to the next generation whilst bringing their own touch to the business”, he said.
“You’ve got that history behind you, but it’s where you are now where people remember you at.
"We’ve got a very loyal customer base.
“We’re trying to keep those generations of family buying from us going forward.
“We try to offer something price-wise for different budgets and requirement.
“I’m very proud to be here at 140 years in the city. It’s an achievement and not something we take for granted.”
To find out more about Hatfields, visit hatfields.com.
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